A Westpac veteran asks what went wrong
Former Westpac chief Bob Joss says although it was necessary for Lindsay Maxsted and Brian Hartzer to take public accountability, it may not end up being the best outcome for the bank.
Cashing in on the crisis
Is the Westpac scandal an ethical deal-breaker or a rare opportunity for investors?
How Pauline Hanson blindsided the government
A much needed victory turned into a major embarrassment for the government. This is how it happened.
- Updated
- Crime
Two more reported dead in London Bridge terrorist incident
Metropolitan Police say a suspect wearing a hoax explosive vest stabbed several people in central London before being shot dead by officers.
'Breath-taking heroism': Attacker tackled by public
The mayor of London has praised members of the public who ignored their own safety and ran towards the knife-wielding attacker, disarming and subduing him before police arrived.
- Analysis
- Sharemarket
Bulls ride high after Lowe-down on rates
Australian stocks have powered to record highs on hopes of more rate cuts. The latest economic data says they'll be needed if bets on a recovery are to be vindicated.
- Opinion
- Chanticleer
How ANZ has avoided an AUSTRAC disaster so far
Learning from past mistakes, a paranoid attitude towards financial crime, and wide experience in money transfers have helped it stay on the right track.
WESTPAC BREACH
This unhappy Westpac shareholder has a message for the board
Gavin Solomon received death threats after leading a revolt against the Westpac board. He believes the bank’s conduct over the past week is a case of history repeating.
Small banks assure Canberra they're on top of money laundering risk
BoQ, Bendigo Bank and Macquarie say they're not aware of any Westpac-style problems with their systems preventing financial crime.
- Analysis
- AUSTRAC crackdown
Westpac unleashes the compliance hounds
Expecting to be blamed for the AUSTRAC scandal, the bank's compliance officers have been told to energetically challenge dubious behaviour across the bank.
- Opinion
- Chanticleer
Westpac mess exposes Australia's big weakness
Tech pioneer Paul Bassat believes Australia's corporate sector has never been more threatened by the tsunami of disruption.
Bank revenues ‘toxic’ without investment in compliance, ASIC warns
Regulator puts financial sector on notice that it will be "naming more names" of firms that are breaking the rules.
Companies
Fuel security woes amp up tensions around Caltex bid
Fuel users and risk assessment experts are worried about any move that could reduce the country's already-weak supply security for petrol and diesel.
NAB CEO Ross McEwan's to-do list just got bigger
Costs, capital and regulatory relations loom large on Ross McEwan's to-do list at NAB.
How KKR cooked up a $3.2b Arnott's deal
KKR entered the Arnott's sale as an underdog, but saw off big global strategic players and then a private equity rival in a head-to-head shootout.
Harvey Norman’s Slovenian love story
It was a love of quality whitegoods that first brought Katie Page and Gerry Harvey to Slovenia. Now their empire is reaping the profits of an unlikely overseas expansion.
Mengniu Dairy's Lion bid doesn't faze this farmer
The acquisition was announced only two weeks after Mengniu gained clearance to buy organic baby formula maker Bellamy's for $1.5 billion.
Landlords 'killing' Australian retailers, say Lew and McInnes
Solomon Lew and Mark McInnes have accused landlords of 'killing' Australian retailers by not offering them the same deals as global retailers.
Afterpay users could face surcharge
The $6 billion of buy now, pay later transactions through Afterpay, Zip Pay and Flexi Group may soon have surcharge fees added on to the shopping bill of customers because of regulator concerns.
Markets
How a central banker's low-rate shift showed the way for Fed
James Bullard, the head of the St Louis Federal Reserve, has bucked the trend with his colleagues - and helped shape US monetary policy.
Why Moelis and Tyro could soar
A maker of hideously expensive beanies, a yet-to-be-listed fintech and a classic blue-chip are among the top picks at the Future Generation investment forum.
- Analysis
- Sharemarket
Bulls ride high after Lowe-down on rates
Australian stocks have powered to record highs on hopes of more rate cuts. The latest economic data says they'll be needed if bets on a recovery are to be vindicated.
BoQ's discounted share offer to institutions raises eyebrows
Bank of Queensland's institutional placement came in lower than the price paid by shareholders under a recent dividend reinvestment plan.
ASX ends 'wild' month with solid gain
Australian shares ended a turbulent November with a solid gain on Friday.
Opinion
The Coalition’s embrace of machismo gives little in return
It’s one of those mysteries of politics that politicians dig in on some point because they are not going to give the slightest bit of ground to the other side. It’s been a habit with not so splendid results in Canberra this week, writes Laura Tingle.
Columnist
The price of banks becoming crime fighters
The genesis behind the latest AUSTRAC scandal can be traced back to the decision to transform banks into de facto law enforcement and counter-terrorism agencies.
Columnist
One law for bad banks, another for rogue unions
It is harder to to clean up systemic problems when the sins of one sector become the fig leaf for another.
Editorial
Spies and surging exports complicate Australia-China ties
The China espionage crisis is Australia's biggest spy scandal, accentuating deep divisions among the country's policymakers.
Senior Writer
Are our politicians a security risk?
Should spooks vet the reliability of parliamentarians? It's not clear that doing so would benefit our democracy.
Contributor
Why I cannot vote for Jeremy Corbyn’s Labour Party
It's hugely expansionary and revolutionary program is likely to trigger capital flight and a currency collapse.
Columnist
Politics
As Morrison slams Westpac, anti-money laundering laws lag
The Prime Minister and Peter Dutton have spent the week beating up Westpac, ignoring their own failings on money laundering, where Australia's lax rules rank the country alongside Haiti.
Government vows fresh Senate vote on union bill in new year
The Morrison government has questioned whether One Nation cut a side deal with the CFMEU as it vowed to put its spurned union-busting Bill back into Parliament.
- Analysis
- Industrial relations
Why Hanson pulled support for union-busting bill at eleventh hour
The Ensuring Integrity Bill would have been a new weapon against unlawful industrial action, but its broad powers ultimately led to its defeat.
Queensland 2011 flood victims win class action
Engineers failed to follow the disaster plan they had written only 18 months earlier.
Drought pushes Australia's carbon emissions down
Drought, flood and the growth of renewables pushed Australia's greenhouse gas emissions down in the year to June 2018, ending a period of rising emissions.
SPONSORED
World
- Analysis
- Crime
Malta's government in crisis over murder investigation
After two years of stonewalling, key allies of Malta's Prime Minister face serious questions over the murder of crusading journalist Daphne Caruana Galizia.
'I might have to break the habit of a lifetime and vote Tory'
The result in a swag of marginal Scottish contests could shape the course of Brexit and determine whether the UK remains a single country.
Corbyn goes into damage control as Johnson pulls ahead
Tory PM Boris Johnson has a potential majority in his sights as Labour rejigs its campaign strategy to try to stem an exodus of blue-collar support.
Police quit HK campus as more rallies planned
Hong Kong police withdrew on Friday from a university campus that had seen some of the worst clashes with security forces during nearly six months of unrest.
Trump visit reveals US-Taliban talks
On a surprise visit to Afghanistan, Donald Trump announced that the US and Taliban have been engaged in peace talks and insisted the Taliban want to make a deal after heavy US fire in recent months.
Property
The forces at work behind Sydney's Powerhouse design competition
What's involved when an architecture firm enters a design competition? Blood, toil, tears and sweat – plus time and money – and just a small chance of success.
Where did collapsed developer Ralan's money go?
Some went to bitcoin, some went to running the business and paying high interest to lenders and unsecured creditors. Some even funded a few holidays.
Rules of engagement: How not to get stung in a hot property market
As the pressure grows to do a deal before Christmas, buyers are making knock-out offers to avoid auctions where bidding wars can favour sellers.
Land tax revamp will capture investor interest, says SA treasurer
The top land tax rate in South Australia will drop to 2.4pc from mid-2020 in line with national averages, and stamp duty has already been scrapped on commercial property deals.
- Opinion
- Flat Chat
How to deal with nightmare neighbours
Renovators and party animals can make life hell, but try not to explode ... compromise and communication always beat confrontation.
Wealth
Life insurers suffer another dire quarter
The perfect storm of regulatory change and rocketing mental health claims has resulted in another dire quarter for Australian life insurers.
How to make the most of 'double contribution' super strategy
Yes, you can put in $50,000 in one year but be careful how often you do it, writes John Wasiliev, who seeks answers to your questions on superannuation.
- Opinion
- SMSFs
New FASEA code could spell trouble for SMSF trustees
Changed adviser rules could lead to self-managed superannuation funds missing out on valuable advice.
Technology
How robots will keep the 2020 Olympics safe
Less than a year out from the July 2020 opening ceremony, organisers say Tokyo will be the most technologically innovative games in history.
Afterpay users could face surcharge
The $6 billion of buy now, pay later transactions through Afterpay, Zip Pay and Flexi Group may soon have surcharge fees added on to the shopping bill of customers because of regulator concerns.
Swipe right for friendship
Almost 2 million overseas Millennials landed in Australia the past four years. Many are jumping on apps like Bumble BFF – kind of like Tinder – but for friendship.
Work & Careers
How not to get drunk with a television host
Tony Jones barely sips the rosé at Sydney's Bar Zini, saying he has to host Q&A in a few hours. He has flipped the tables on his interlocutor.
5 Vietnamese-Australians on the rise
The influx of Vietnamese migrants to Australia after 1975 was the second great wave of post-war immigration. Here are the stories of five high achievers.
Life & Luxury
Are men struggling through a feminised health system?
Whether or not men are being let down in their interactions with GPs is proving to be a point of contention among health experts.
Why 'Australia's greatest living artist' keeps repeating himself
At 91, John Olsen continues to explore the themes that have long fascinated him – including those infamous frogs – in a coming exhibition.
Dancing with Clive James: a fond recollection of a literary giant
In the shadow of the passing of a much-loved man of letters, the journalist who broke the news of his cancer diagnosis recalls a night of tango in Sydney.
When a hoodie is tied up with privilege
Move over, Rembrandt and Van Gogh – an exhibition examining the beloved yet sometimes controversial wardrobe staple is opening in Rotterdam.
Judy & Punch fails to strike a blow for feminism, but Suzi Q does
Mirrah Foulkes' debut feature is a heavy-handed parable that oddly seems to endorse violence, while a Suzi Quatro documentary is an inspiration.
