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Westpac Banking Corp

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  • SYDNEY, Dec 7- Major Australian banks will need as much as A $48 billion to move to the top quartile of global banks, analysts estimate, after a government-backed review on Sunday called for stronger capital levels to ensure they can survive a global financial crisis. The review was chaired by David Murray, former head of Commonwealth bank of Australia.

  • SYDNEY, Dec 7- Australia's major banks should set aside more capital to ensure they can survive a repeat of the global financial crisis, a government-backed review recommended on Sunday, a measure that may rein in the banks' hefty dividend payouts. The 348- page report chaired by David Murray rejected banks' concerns and argued that Australia's financial system...

  • SYDNEY, Dec 7- Australia's major banks should set aside more capital to ensure they can survive a repeat of the global financial crisis, a government-backed review recommended on Sunday, a measure that may rein in the banks' hefty dividend payouts. "Although no system can ever be bulletproof, Australia should aim to cultivate financial institutions with the...

  • Australia's Abbott falters on pledge, risks recession Thursday, 4 Dec 2014 | 6:51 PM ET
    Tony Abbott

    Abbott falters on infrastructure pledge, and risks becoming the first Australian premier to preside over a recession since the early 1990s.

  • NEW DELHI, Dec 4- India will press the Group of 20 economies to set a two-year deadline to reduce the cost of international money transfers, two government sources said, potentially saving more than $20 billion for developing countries. The world's largest recipient of remittances- of about $70 billion a year- won the backing of G20 leaders last month in Brisbane...

  • Asian shares higher after Japan dissolves parliament Friday, 21 Nov 2014 | 2:12 AM ET
    A man is reflected on an electronic stock quotation board outside a brokerage in Tokyo, November 17, 2014.

    Asian indices traded mostly higher in Friday's afternoon session, after Japan's Prime Minister Shinzo Abe dissolved parliament's lower house.

  • Australian exports to China still face hurdles Tuesday, 18 Nov 2014 | 6:14 PM ET

    A trade deal signed with great fanfare between China and Australia may not provide Australia with the economic boost that many anticipate.

  • *Hurdles to boosting Australian farm exports to China. SYDNEY, Nov 18- A trade deal signed with great fanfare between China and Australia has been touted as a major step towards Australia shifting its economy from a "mining boom" to a "dining boom," but the reality is likely to be more sobering. China is already Australia's top trading partner, with two-way trade of...

  • *Deals come as China, Australia sign landmark FTA. BEIJING, Nov 17- China is giving Australia more access to its capital markets and allowing it to clear yuan trades, measures that would boost Beijing's efforts to free Chinese financial markets and promote global usage of its renminbi currency. The agreements, which were announced by the Chinese central bank,...

  • *Deals come as China, Australia sign landmark FTA. BEIJING, Nov 17- China is giving Australia more access to its capital markets and allowing it to clear yuan trades, measures that would boost Beijing's efforts to free Chinese financial markets and promote global usage of its renminbi currency. The agreements, which were announced by the Chinese central bank,...

  • Asian markets were mixed on the first trading day of the week.

  • Asian markets traded mixed on Thursday, with Tokyo continuing to outperform on speculations of a delayed sales tax hike and snap elections.

  • Wednesday's trading session saw a mixed picture in Asia, with Tokyo shares stealing the limelight to finish at a 7-year high.

  • Asian bourses were mixed on Monday, with China outperforming after a new launch date was announced for an anticipated cross-border trading link.

  • Asia equities were mixed on Thursday as caution over a European Central Bank (ECB) meeting overshadowed record gains on Wall Street.

  • Australia's top lender posts 10% rise in profit Tuesday, 4 Nov 2014 | 9:55 PM ET
    Customers use the automated teller machines (ATM) at a Commonwealth Bank of Australia branch in Sydney, Australia.

    Commonwealth Bank of Australia posted a near 10 percent rise in first-quarter cash profits on Wednesday as demand for home loans remained strong.

  • Asian equities were mixed on the first trading day of November as investors digested a raft of Chinese data.

  • Is a new currency war about to start? Sunday, 2 Nov 2014 | 10:01 PM ET

    The BoJ's stimulus blitz raises the specter of currency wars as a rapidly weakening yen threatens the competitiveness of export-driven economies.

  • Australia's Westpac profit up 8% to record high Sunday, 2 Nov 2014 | 9:53 PM ET
    People walk past an ATM machine of Australian banking giant Westpac in the central business district of Sydney.

    Australia's Westpac Banking had an 8 percent rise in full-year cash earnings on robust loan growth and declines in bad debts.

  • *China manufacturing data disappoints, US survey due later. Disappointing surveys out of China's manufacturing and services sectors highlighted the relative health of the U.S. economy, and piled pressure on other countries to ease monetary policy yet further. "In this environment of subdued growth and long-term low-flation, we expect the ECB to announce the...