SYDNEY The Australian bourse said on Friday it is investigating the mass resignations of directors at two Australia-listed Chinese agricultural companies, in one case over a rumored probe of criminal connections to its plantations in China.
SYDNEY National Australia Bank Ltd has hired the man credited with turning around Royal Bank of Scotland as its new chief executive, as it moves on from the abrupt departure of its leaders this year in the fallout of a misconduct inquiry.
SYDNEY The Australian banking watchdog on Wednesday promised more "naming and shaming" of companies it was acting against and that it would restructure itself by the end of the year after an independent report accused it of being too discreet and slow.
SYDNEY Westpac Banking Corp and Australia and New Zealand Banking Group are starting to lower the interest rate they use to stress test customers' loan applications, a move expected to help stabilize house prices.
SYDNEY, July 16 Westpac Banking Corp
and Australia and New Zealand Banking Group are
starting to lower the interest rate they use to stress tests
customers' loan applications, a move expected to help stabilise
* Regulator "deeply troubled" as sales "consistently failed
SYDNEY Three of Australia's biggest banks will have to set aside an additional A$500 million ($348 million) each until they strengthen risk management and reimburse customers for wrongly charged fees, the prudential regulator said on Thursday.
SYDNEY Australia's corporate regulator threatened on Thursday to prosecute some of the country's largest banks over their sales earlier this decade of consumer insurance products that it said had harmed customers.
SYDNEY The head of UBS in Australia and New Zealand, Matthew Grounds, is leaving the Swiss bank at the end of the year, a spokeswoman confirmed on Tuesday, possibly ending one of the most storied careers in Australian investment banking.