Westpac news & latest pictures from ibtimes.com

"2020 has been a particularly challenging year and our financial result is disappointing," said the CEO of Australia's Westpac bank in releasing the results for the year ending June 30

Fines, Pandemic Slash Westpac Profit 66 Percent

Fines, pandemic slash Westpac profit 66 percent

Australia's Westpac Bank Agrees Record Fine For Money-laundering

Westpac was accused in 2019 of breaching money-laundering and counter-terrorism regulations 23 million times

Australia's Westpac bank agrees record fine for money-laundering

Westpac Half-year Profits Tumble More Than 60%

Westpac deferred a decision on interim shareholder dividend payments due to ongoing economic uncertainty

Westpac half-year profits tumble more than 60%

Australian Pedophiles Find Online Abuse Of Filipino Children Cheaper, Less Risky

For as little as 15 Australian dollars (about US$10 or 500 Philippine Peso), pedophiles in Australia can watch children perform sexual acts online while the abuse is being filmed in the Philippines. Senior officer Andrew Perkins, of the Australian federal police (AFP) team in Manila, told the Guardian Australia that this is an “alarming shift” toward “convenient and low-risk” activity compared to the more common “sex tourism” involving the abuse of children.

More news

Mike Cagney, former CEO of the fintech giant SoFi

Big Banks In Alliance With Fintechs To Stonewall Rise Of Tech Giants In Finance

Many big banks are striking partnership deals or buying a stake in fintech start-ups. The Sibos financial services conference held in London recently revealed these trends and the reasons behind such partnerships.

China Consumer Sentiment Sputters To Record Low In October, Report Says

China's consumer sentiment plunged in October as households curbed spending, worried by recent discouraging economic data, according to a new survey.

VIDEO Mexico 4-2 New Zealand: Highlights; Peralta Hat-Trick Sends El Tri Cruising Into The World Cup After Second-Leg Win

Three goals from Oribe Peralta sent Mexico on their way to a victory over New Zealand in Wellington to seal their passage to the World Cup.

Asian Shares Slip After Fed-Inspired Rally

Asian shares retreated from four-month highs Tuesday as markets paused from last week's rallies, calculating the impact on growth from the Federal Reserve's aggressive stimulus and eyeing whether Spain will request a bailout to ease its fiscal strains.

Asian Shares Slip On Caution Over Fed Action

Asian shares eased Thursday ahead of the U.S. Federal Reserve's decision later in the day, but investors remained optimistic of further stimulus action to bolster the world's largest economy.

Asian Shares Steady, Awaiting Jackson Hole Meeting

Markets from stocks to currencies were caught in ranges Tuesday as investors waited for a gathering of central bankers and economists at Jackson Hole, Wyo., later in the week for clues over the Federal Reserve's potential easing options.

Asian Shares Retreat On Dim Outlook For Growth, Fed Stimulus

Asian shares retreated from a two-week high Friday on scaled back expectations of more stimulus from the U.S. Federal Reserve and growth concerns after manufacturing surveys from the euro zone and China depicted a bleak outlook.

China, Brazil Ink $30 Billion Currency Swap Deal; Global Yuan In The Cards?

China and Brazil finalized an agreement on Thursday to exchange national currencies worth up to $30 billion as part of bilateral efforts to shore up reserves in times of crisis.

The Pain In Spain: Bankia Bailout, 5 Credit-Rating Downgrades

Spain's Bankia S.A. requested the country's government provide it with a bailout worth ?19 billion ($24 billion) on Friday, the same day Standard & Poor's Ratings Services said it lowered its ratings on five financial institutions based in the Iberian nation.

File photo of a Chinese 100 yuan banknote being placed under a $100 banknote in this photo illustration taken in Beijing

China Sets Record High Ceiling For Yuan

China's central bank expanded the yuan's reference rate against the dollar to another record high on Friday, in a nod to calls from the U.S. to loosen growth restrictions on the currency's value.

A BNY Mellon sign is seen on its headquarters in New York's financial district

Bank of New York Mellon, Battered By Low Rates and Low Volume, Misses Wall Street Estimates

Bank of New York Mellon (NYSE:BK), a giant of the custody and trust banking sector, said fourth-quarter earnings fell 31 percent. Shares fell after the bank posted earnings 10 cents below consensus estimates.

Westpac Chief Executive Officer Gail Kelly

Australian Banks May be Planning Massive Job Cuts: Report

Almost 60 percent of the money the big banks of Australia spend each year are eaten up by staff costs.

Asian Shares and Euro Dip on Europe Worries

Asian shares and the euro eased Thursday as concerns about the ability of euro zone countries to refinance their huge public debt dampened investor risk appetite ahead of a French bond auction later in the day.

IBM Books $2.6 Billion Services Order with Spain’s Biggest Savings Bank

IBM, the No. 2 U.S. computer services provider, inked a 10-year services contract with Spain’s biggest savings bank, La Caixa, valued at 2 billion Euros (US $2.6 billion).

European Stocks and Euro Gain Ahead of ECB Tender

European stocks rallied and the euro was well bid Wednesday as investors priced in an improvement in the economic outlook and looked forward to a big take up by banks of the European Central Bank's first-ever offer of three-year loans.

Asian Stocks Rise on Upbeat Data, Spanish Bond Auction

Asian stocks and the euro rose on Wednesday after upbeat U.S. and German data and strong demand for Spanish debt tempered risk-aversion, with investors' focus turning to a European Central Bank tender as a gauge for euro zone funding strains.

Asian Shares Fall After U.S. Deficit Deadlock

Asian shares edged down Tuesday as fears about the ability of politicians on either side of the Atlantic to tackle huge debt burdens sapped investors' confidence in the outlook for Western economies.

Australian Dollar Outlook: 3 Reasons to be Bearish

The outlook for the Australian dollar is dim, according to research from Westpac Institutional Bank, a major Australian bank.

Nigeria's rescued banks recapitalise

Nigeria's Union Bank on Friday became the last lender rescued in a $4 billion 2009 bailout to get recapitalisation approval, bringing to a close a reform programme set-up two years ago to end the country's banking crisis.

Stacks of Swiss franc and Euro banknotes are displayed in a bank in Bern

G20 Talks But No Specific Action

Finance officials from the Group of 20 nations on Thursday pledged to preserve financial stability and said central banks were ready to provide liquidity as needed, but a communique after the meeting offered few hints of fresh action to contain Europe's raging debt crisis or revive the faltering global economy.