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The Latest Breaking News from Westpac

Westpac borrowers 'coping well' with rates, inflation

The chairman and CEO of Westpac have told shareholders that the percentage of borrowers experiencing stress remains low.

Stronger than expected budget position to fuel calls for cost of living relief, economists say

Stronger than expected budget position to fuel calls for cost of living relief, economists say

Majority of additional revenue disclosed in midyear budget update likely to be banked to avoid further stoking inflation

The Guardian - AU

Australia’s economy 2023 report: how it started v how it’s going

Australia’s economy 2023 report: how it started v how it’s going

Stronger than expected population growth made inflation hardier than most experts predicted and property prices defied successive rate rises

The Guardian - AU

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Morning Mail: Coalition flies to Cop28, Westpac suffers major outage, UK nuclear site hacked

Customers lose access to accounts and cards after system update failure; conservative lobby groups fund trips by frontbenchers to Cop28

The Guardian - AU

Westpac customers access online accounts after outage

Westpac customers have again been able to access their accounts after the bank said a "routine technology update" resulted in an online outage.

Customers unable to reach accounts in Westpac outage

Some Westpac customers have been unable to reach their accounts after an apparent online outage, as the bank says it is working to rectify the issue.

Westpac suffers online banking outage with customers shut out of accounts

People unable to view statements, pay bills or use credit cards after a problem during what the bank called a ‘technology update’

The Guardian - AU

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Black Friday: Australian shoppers tipped to spend more than $6bn in four-day sales period

Black Friday: Australian shoppers tipped to spend more than $6bn in four-day sales period

Retailers say online sales on Friday were 10-25% up on last year, with the shopping event becoming bigger than Boxing Day

The Guardian - AU

Australian shares lift to move back above key marker

Australian shares lift to move back above key marker

The ASX200 rose 0.8 per cent to climb back above the 7,000 level amid strong gains by the energy and mining sectors.

Consumers, businesses still wary about the future

Consumers, businesses still wary about the future

Consumer confidence has taken a hit after another round of interest rate pain, with businesses also cautious about the outlook despite economic resilience.

What Westpac zero deforestation pledge means for ag

What Westpac zero deforestation pledge means for ag

A zero deforestation target for agriculture set by Westpac has been described as "enormous" by the conservation movement but condemned by farmers.

Shareholder takes ANZ to court over climate risks

Shareholder takes ANZ to court over climate risks

An ANZ shareholder will take the bank to court over concerns about its climate change and biodiversity loss risk management.

Migrants and change of government drive sharp forecast rise in house prices

Migrants and change of government drive sharp forecast rise in house prices

The nascent return of first home buyers is set to be snuffed out by 'horribly unaffordable' house prices. Jonathan Milne reports.

PwC to cut more than 330 jobs in Australia after scandal over misuse of Treasury information

PwC to cut more than 330 jobs in Australia after scandal over misuse of Treasury information

Consultancy giant will close ‘skilled service hub’ in South Australia with more redundancies across national workforce

The Guardian - AU

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The Guardian - AU

Westpac’s profit jump is no surprise when the RBA favours banks over households

Further hiking of interest rates to meet a 2-3% inflation target will serve to enhance the financial sector, not consumers doing it tough

Westpac posts $7b profit, launches $1.5b share buyback

Westpac has posted a 26 per cent rise in net profit of $7.2 billion for 2022/23 and released a climate report which will affect lending to farmers.

More young women are choosing a career in agriculture

More young women and people from multicultural backgrounds are choosing agriculture as a career, an analysis of census data over the past 15 years shows.

The Guardian - AU

RBA governor says inflation bump no surprise but won’t say whether rates will rise

Michele Bullock tells Senate estimates ‘we might need to go again’ as Westpac joins other big banks in predicting November rate rise

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Fugitive Jean Nassif gives up fight for builder licence

Fugitive Jean Nassif has withdrawn his bid to work as an Australian construction industry boss months after police accused him of a $150 million fraud.

Australian shares rally to key marker in eight-day high

The ASX200 index finished 1.0 per higher following dovish remarks by several US Federal Reserve officials overnight.

Business pressures ease in promising sign for inflation

The uptick in cost and price pressures plaguing businesses looks to have been temporary in a promising sign for the inflation outlook.

Newcastle Herald

Rescue helicopter's humble heroes reflect on a century of service

The trauma, the jobs that won't be forgotten, and the mateship that tethers the team.

Borrowers left in 'mortgage prison' as firms quit personal lending market

A Commerce Commission inquiry has been warned that Kiwi borrowers will be unable to shift to more competitive lenders because of tough new credit rules. Jonathan Milne reports.

The Canberra Times

One ACT fisherman still missing after police find body

The search for the 73-year-old continues.

The Conversation

What's to stop Philip Lowe moving to a private bank after he leaves the RBA? It's what his predecessors did

Surely Reserve Bank Governor Philip Lowe won’t move to a private bank after his term as governor ends next week.

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