Finance

Cricket star Ross Taylor passed up early investment in Xero. By Dan Brunskill

See details.

Westpac reveals A$1.22b of money-laundering costs and writedowns

Staff reporters
Tue, 27 Oct 2020

Westpac Banking Corp said "notable items" of A$1.22 billion after tax will reduce both its second-half statutory result and cash earnings.These notable items include the previously announced A$404 million charge relating to money laundering matters unveiled by the Australian government intelligence agency AUSTRAC which has now increased to A$415 million.They also include A$816 million of new items including write-downs of the value of its life insurance and car finance businesses and of capitalised software.Westpac has also increased...

Use the information you’ve already given Google to create your subscription.

Not convinced yet?

Subscribe to our Daily News Update free newsletter.

Listed Companies
What worries directors most? Spoiler alert: it's not climate change
Pattrick Smellie | Fri, 04 Dec 2020

Covid-19 has knocked other worries down the agenda for NZ company directors, but skills, talent and strategy still trump most other concerns.

Markets MARKET OPEN
Vaccine optimism and Fonterra in focus
Rebecca Howard | Fri, 04 Dec 2020

Vaccine progress, Fonterra outlook to drive investors today.

Primary Sector
Reverse Fonterra favouritism, says Productivity Commission
Dan Brunskill | Fri, 04 Dec 2020

Fonterra's dominance may stop value-add innovation that is urgently needed with dairy production pushing against its environmental limits.

Sponsored
Giltrap joins with Sixt to launch luxury car subscriptions in NZ

The Giltrap Group gets behind the launch of SIXT to offer Kiwis a new more flexible route to car ownership

Sponsored
Looking to future-proof your business management skills?

Job candidates who have the knowledge and skills to manage strategy, data and communications in an agile fashion will undoubtedly have a competitive advantage.

Loading...