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The Latest Breaking News from Westpac

Westpac admits dropping ball on state bank customers

Overpriced mortgage products at its state-specific subsidiaries have contributed to Westpac losing market share, despite solid growth in customer deposits.

AAP

RBA to reveal interest rate call, economic forecasts

The Reserve Bank is widely expected to keep rates on hold after a spike in inflation, with the bank's updated economic forecasts set to be closely scrutinised.

AAP

‘No empathy’: Australian banks under fire for failing customers in hardship

Banks have continued to dismiss thousands of requests for help despite facing regulatory action enforcing their obligation to work with struggling clients

The Guardian - AU

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Westpac’s work-from-home complaint was a cultural miff that doesn’t resonate in today’s Australia

Women who manage to perform their jobs well while caring for children should get a bloody medal, not a trip to Fair Work

The Guardian - AU

Massive fine for home loan compliance failures

Defunct home lender RAMS has been fined $20 million by the Federal Court after admitting to widespread misconduct over a four-year period.

AAP

Investors pull back as shares edge higher for the week

Australian shares are in something of a holding pattern, as investors await key US inflation data and developments in ongoing global trade disputes.

AAP

Fair Work has ruled a Sydney woman can work for Westpac from home. Can you WFH too?

Regulator’s decision paves way for workers with caring responsibilities to work from home while separate test case will determine if WFH rights can be applied more broadly

The Guardian - AU

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Worker wins landmark case meaning she can work from home for good

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The Independent UK

Westpac makes it harder for younger customers to earn advertised interest rates

Bank joins smaller competitors in changing interest-related restrictions on some accounts – despite RBA leaving interest rates unchanged in September

The Guardian - AU

Gold shines, equities lose lustre in tired trading day

Only Australia's raw materials sector has managed to close higher as the local bourse faded in a sluggish trading session.

AAP

Big bank is cutting 200 teller, personal banking roles

Westpac is cutting 200 customer-facing roles in its network but says it will try to keep as many workers as possible through retraining and redeployment.

AAP

Australia’s workers reaping greater share of national income than before pandemic

Westpac economist says tighter labour market is behind changes in how the ‘economic pie’ is divided

The Guardian - AU

Consumer confidence dips as households slowly recover

Years of lost purchasing power is still weighing on Australian households as the steady recovery in consumer confidence stalled in September.

AAP

Aussie shares in record close, break $2.9 trillion mark

Australia's top 500 publicly traded companies are now worth more than $2.9 trillion, as major benchmark indexes closed at their highest ever levels.

AAP

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AAP

Australian shares notch new high as financials rebound

The local bourse continues to chip away at record highs, as strong earnings and cheaper borrowing costs buoy investor sentiment.

The Guardian - AU

Australia’s borrowers may have to wait weeks for Reserve Bank’s rate cut to reduce their mortgage

NAB said it would wait 13 days to pass on the 0.25% cut to borrowers, while Westpac announced it would wait 14 days

AAP

Rate cut looms as inflation result brings RBA 'comfort'

The Reserve Bank should have "all the comfort it needs" to cut interest rates again in August after underlying inflation fell to a three-and-a-half year low.

The Guardian - AU

As more Australians save, banks are cutting interest rates for deposits faster than the RBA’s official cash rate

‘Money in the bank is at a record high, so banks aren’t having to compete for people’s deposits,’ Canstar’s Sally Tindall says

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AAP

Aussie shares set new record on strong China growth

The ASX200 has climbed 0.7 per cent to finish above 8,600 for the first time, and was also within 10 points of its all-time intraday high.

AAP

'Get on with it': next move key with rate cut baked in

With markets all but assured the Reserve Bank board will cut interest rates at its upcoming meeting, the bigger question for traders is what they say next.

AAP

Beyond carbon: big four banks urged to capture more gas

It is a potent greenhouse gas responsible for climate change, but a report has found Australia's major banks have yet to single out methane emissions.

AAP

Long way to go to stop lending for deforestation

A number of bank-financed landholders might be involved in illegal landclearing, raising questions about lender exposure to risky nature destruction.

AAP

Homebuyers stand to win as big bank ups rate-cut bet

Westpac's chief economist has added two more rate cuts to her forecast for 2026 with lower immigration expected to drive down rents and inflation.

AAP

RAMS franchisees hit back over Westpac 'blame shifting'

Franchisees in a Westpac subsidiary accused of misconduct have challenged the findings and the bank's resulting termination of agreements.

The Guardian - AU

Coronial investigation into death of Kumanjayi White on hold during criminal investigation – as it happened

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