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Reuters - 1 day ago

Australia's ASIC Says Big Banks To Refund Millions In Fees To Low-Income Customers

BRIEF-Australia's ASIC Says Big Banks To Refund Millions In Fees To Low-Income Customers July 15 (Reuters) - Australia's ASIC - BIG BANKS TO REFUND MILLIONS IN FEES TO LOW-INCOME CUSTOMERS FOLLOWING ASIC REPORT ASIC REVIEW REVEALED FOUR AUSTRALIAN BANKS SYSTEMICALLY CHARGED HIGH FEES TO BANK CUSTOMERS ON LOW INCOMES BANK CUSTOMERS ON LOW INCOMES, I
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Reuters - 1 day ago

Aussie banks to return $19 mln charged in high fee to low-income customers

UPDATE 3-Aussie banks to return $19 mln charged in high fee to low-income customers Adds ANZ's response in paragraph 9 July 15 (Reuters) - Four Australian banks will give back a total of A$28 million ($18.95 million) to low-income customers, after a review by the corporate regulator found these customers had been kept in high-fee bank accounts despite being eligible for cheaper products.
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Reuters - 2 days ago

World Bank dollar lifeline for Pacific islands proceeds with US, Australia push

World Bank dollar lifeline for Pacific islands proceeds with US, Australia push By Lucy Craymer and Lewis Jackson WELLINGTON/SYDNEY, July 15 (Reuters) - The World Bank is preparing a financial lifeline for Pacific Island nations, backed by the U.S. and Australia, as an exodus of Western banks from the unprofitable market prompts concern that China could fill the vacuum in the strategic region.
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Reuters - 6 days ago

New Zealand dollar falls, bonds rally as RBNZ flags possible easing

New Zealand dollar falls, bonds rally as RBNZ flags possible easing SYDNEY, July 10 (Reuters) - The New Zealand dollar fell on Wednesday while bonds rallied as markets sharply ramped up bets for a rate cut as early as August after the Reserve Bank of New Zealand opened the door to possible easing if inflation slows as desired. The RBNZ held interest rates steady at 5.5%.
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Reuters - 1 week ago

ANZ says in talks with Australian govt about shoring up Pacific Islands business

ANZ says in talks with Australian govt about shoring up Pacific Islands business By Lewis Jackson BRISBANE, July 9 (Reuters) - ANZ bank ANZ.AX is in talks with the Australian government about ways to make its business in the Pacific Islands more viable as an exodus of Western financial services fuels concern about rising Chinese influence, its CEO told Reuters.
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Reuters - 1 week ago

Australia pledges more funds for Pacific banking amid China interest

UPDATE 1-Australia pledges more funds for Pacific banking amid China interest Adds ANZ CEO comments paragraphs 8-10 By Lewis Jackson and Renju Jose BRISBANE, July 9 (Reuters) - Australia on Tuesday pledged to boost investment in Pacific Island countries to support their financial systems, as banks cut ties to the region citing risk at a time when China is looking to increase its influence there.
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Reuters - 1 week ago

Australia pledges more funds for Pacific banking amid China interest

Australia pledges more funds for Pacific banking amid China interest By Lewis Jackson and Renju Jose BRISBANE, July 9 (Reuters) - Australia on Tuesday pledged to boost investments in Pacific Island countries to support their banking systems after global financial firms limit services with them, citing risks, at a time when China is looking to increase its influence in the region.
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Reuters - 2 weeks ago

Westpac Says Intention To Redeem Callable Floating Rate Subordinated Notes

BRIEF-Westpac Says Intention To Redeem Callable Floating Rate Subordinated Notes July 2 (Reuters) - Westpac Banking Corp WBC.AX : INTENTION TO REDEEM CALLABLE FLOATING RATE SUBORDINATED NOTES INTENDS TO REDEEM A$1 BILLION CALLABLE FLOATING RATE SUBORDINATED NOTES DUE 27 AUGUST 2029 Further company coverage: WBC.AX
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Reuters - 3 weeks ago

Aussie banks forecast best HY since mid-2021 as rates stay elevated at 12-year highs

BUZZ-Aussie banks forecast best HY since mid-2021 as rates stay elevated at 12-year highs ** Australian financial stocks .AXFJ surged over 13% in H1 2024, compared to a 2.2% drop a year earlier ** AXFJ is set to log its best HY since June 30, 2021 ** Interest rates in the country are currently at a 12-year high of 4.35% , with further room for poss
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Reuters - 3 weeks ago

Australian financial stocks hit over 1-week low on rate hike worries

BUZZ-Australian financial stocks hit over 1-week low on rate hike worries ** Australian financial stocks .AXFJ fall as much as 1.9% to hit their lowest level since June 17 ** Data on Wednesday showed Australian inflation rose much more than expected to 4% in May increasing the likelihood of a rate hike by the central bank ** High interest rates gen
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Reuters - 3 weeks ago

Financials, miners drag Australia shares lower; inflation data in focus

Financials, miners drag Australia shares lower; inflation data in focus ASX 200 marks worst session in 2-weeks Miners at over 1 1/2 year lows CPI data due on Wednesday By Megha Rani June 24 (Reuters) - Australian shares closed lower on Monday, led by losses in miners and financials, while caution prevailed ahead of a crucial domestic inflation reading due later in the week that will likely provide cues on the central bank's rate easing policy.
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Reuters - 4 weeks ago

Australian banks hit record high ahead of key cenbank rate decision

BUZZ-Australian banks hit record high ahead of key cenbank rate decision ** A sub-index of Australian financial stocks .AXFJ rose 1.2% to a record high of 7,603.3 points ahead of a crucial interest rate decision due later in the day ** Sub-index marks its biggest intra-day pct gain since June 3 ** Reserve Bank of Australia will hold its key policy
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Reuters - 4 weeks ago

Australian shares trade in narrow range as investors focus on RBA

Australian shares trade in narrow range as investors focus on RBA June 17 (Reuters) - Australian shares drifted in a narrow range on Monday as market participants exercised caution ahead of a central bank policy decision due later this week. The S&P/ASX 200 index .AXJO fell about 0.2% in early trade before recovering to trade almost flat. It was 0.01% higher at 7,725.20 as of 0043 GMT, after closing 0.3% lower on Friday.
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Reuters - 1 month ago

Australia shares dip to seven-session low ahead of US CPI, Fed decision

Australia shares dip to seven-session low ahead of US CPI, Fed decision U.S. CPI and Fed policy decision awaited Mining stocks fell 0.9% Energy stocks 1% in green Updates to close By Prerna Bedi June 12 (Reuters) - Australian shares closed at a seven-session low on Wednesday as investors exercised caution ahead of key U.S. consumer inflation data and the Federal Reserve's rate decision due later in the day.
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Reuters - 1 month ago

New Zealand orders inquiry into banking sector amid competition concerns

New Zealand orders inquiry into banking sector amid competition concerns June 12 (Reuters) - New Zealand will conduct an inquiry to assess competition in the country's banking sector, focusing on services in rural regions, Finance Minister Nicola Willis said on Wednesday. The decision comes after a draft report in March by the country's competition watchdog said New Zealand's four major banks provided limited competition for personal banking, and that a focus on maintaining profit margins had re
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Reuters - 1 month ago

Marsh McLennan unit Mercer to buy pension fund manager Cardano to boost UK footprint

Marsh McLennan unit Mercer to buy pension fund manager Cardano to boost UK footprint June 11 (Reuters) - Insurance brokerage firm Marsh McLennan's MMC.N unit Mercer has agreed to buy Cardano, a London-based pension fund manager that oversees $66 billion of assets, to widen its foothold in the UK market. The deal, unveiled on Tuesday, will allow Mercer to capitalize on the increasing demand for pension management services due to a challenging economic environment.
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Reuters - 1 month ago

Aussie financial stocks set for best weekly gain in 20 months

BUZZ-Aussie financial stocks set for best weekly gain in 20 months ** Australian financial sub-index .AXFJ up nearly 3.5% this week, set for best week since early-October 2022 ** The rate-sensitive sub-index rises for a sixth straight session, last up 0.2% ** Data earlier this week showed Australia'a GDP grew less-than-expected in Q1, erasing any c
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Reuters - 1 month ago

Dollar finds footing as traders turn to US services data

FOREX-Dollar finds footing as traders turn to US services data SINGAPORE, June 5 (Reuters) - The dollar steadied on Wednesday as traders pared back on riskier bets in emerging markets while waiting on an interest rate decision in Canada and on U.S. services data. The Swiss franc CHF=EBS and yen JPY=EBS were also beneficiaries of the sentiment, with the yen receiving an extra boost after Bloomberg News reported the Bank of Japan was likely to mull cuts to bond buying at its policy meeting next we
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Reuters - 1 month ago

Australia sells $4.7 bln worth of inaugural Green Treasury Bonds

Australia sells $4.7 bln worth of inaugural Green Treasury Bonds SYDNEY, June 4 (Reuters) - The Australian government on Tuesday sold A$7 billion ($4.68 billion) of its first Green Treasury Bond, with the issue drawing strong demand. The Australian Office of Financial Management (AOFM) said the new 4.25% June 21, 2034 bond had priced at a yield to maturity of 4.295% and drew bids of A$22.89 billion.
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Reuters - 1 month ago

Australia government launches first Green Treasury Bond

Australia government launches first Green Treasury Bond SYDNEY, June 3 (Reuters) - The Australian government on Monday launched its first Green Treasury Bond through syndication, aiming for a sizable issue of around A$7 billion ($4.66 billion) given indications demand should be strong. Initial price guidance for the 4.25% June 21, 2034 bond was set at a spread of -5 to -1 basis points to the implied bid yield for the primary 10-year Treasury Bond futures contract, the Australian Office of Financ
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