Edition:
United States

Byron Kaye

Australia's Westpac faces fee-for-no-service lawsuit

Sep 06 2019

SYDNEY Australia's Westpac Banking Corp has been served a class action lawsuit accusing it of charging thousands of pension fund customers for services they never received, joining a parade of big-ticket litigation arising from a major inquiry into the financial sector.

UPDATE 3-Australia's Myer turnaround strategy bears fruit with online sales showing promise

Sep 04 2019

Sept 5 Australian department store operator Myer Holdings Ltd swung back to an annual profit on Thursday as a turnaround strategy of ditching low-margin brands and cutting floorspace put the struggling retailer back on track.

Australia's James Packer pauses Crown selldown over China probe

Aug 29 2019

SYDNEY Australian businessman James Packer has frozen a A$1.2 billion ($810.48 million) partial sale of his casino company to Hong Kong's Melco Resorts & Entertainment pending an investigation into alleged criminal activity at its Australian operations.

UPDATE 3-Bellamy's Australia FY profit sours amid China regulator woes

Aug 27 2019

* Investors hoped for quicker turnaround - portfolio manager (Adds details, CEO comment, and updates share movement)

Australia Wesfarmers's profit resilient despite hardware's woes

Aug 27 2019

Australian retail conglomerate Wesfarmers Ltd posted the slowest earnings growth in six years in its hardware unit but still met forecasts for overall annual profit, raising hopes it can withstand a spending slump thanks to diversification.

UPDATE 3-Australia Wesfarmers's profit resilient despite hardware's woes

Aug 27 2019

* Shares reverse losses to move into positive territory (Adds managing director's comments, fresh fund manager comment)

UPDATE 2-Australia's Boral warns profit to fall further, shares plunge

Aug 26 2019

* Boral underlying net profit A$440.1 mln vs forecast A$476 mln

Australia regulator sues NAB, first lawsuit resulting from bank inquiry

Aug 23 2019

SYDNEY An Australian regulator filed a lawsuit on Friday against No. 3 lender National Australia Bank Ltd accusing it of taking loan applications from unlicensed "introducers", the first lawsuit stemming directly from a finance sector inquiry.

UPDATE 2-Australia regulator sues NAB, first lawsuit resulting from bank inquiry

Aug 22 2019

* NAB accused of taking loan applications from unlicensed professionals

UPDATE 3-Australia's Coles warns rival's 'Ooshies' collectables to pressure sales

Aug 22 2019

* Shares up 4% (Recasts with plastic toy promotion; adds CEO comments)

World News