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The Latest Breaking News from Westpac

Inflation figures and a speech from the head of the Reserve Bank of Australia will dominate the economic agenda this week.

AAP

How the Westpac rescue helicopter saved a future Paralympian and mother

'On your worst day that chopper will be the best thing that could ever happen to you.'

Newcastle Herald

Westpac's profit dips to $7b as mortgage stress eases

Westpac has posted an annual profit of $7 billion and lifted its final dividend, in Peter King's last financial result as chief executive.

AAP

From analysis to the latest developments in health,
read the most diverse news in one place.

Community rallies around newlywed mum after horror lawn mowing accident

Megan McKee was scheduled for amputation surgery in Newcastle on Friday.

Newcastle Herald

ASX ends worst week since August after global sell-off

The ASX200 has fallen 0.5 per cent after worrying earnings forecasts from US tech stocks and diminishing rate cut hopes in Europe dampened risk sentiment.

AAP

A diver was alone in rough seas for three hours, then the helicopter appeared

Westpac heroes in the spotlight as survivors share powerful stories.

Newcastle Herald

Mideast war not behind Aussie inflation: opposition

Unlike Australia, inflation and interest rates are falling in the UK, the US, Canada and New Zealand despite conflict in the Middle East, the opposition says.

AAP

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Banks at odds over easing lending restrictions

Easing lending requirements so more first homebuyers can get a mortgage has received mixed reviews, with warnings more borrowers would face crippling debt.

AAP

Win for banks over fugitive's 'audacious' $500m fraud

Westpac and two other banks can recoup funds taken through a $500 million fraud perpetrated by a fugitive former football club owner and his associates.

AAP

Wanted: $100m investment fund seeks green Aussie tech

A multimillion-dollar venture capital fund, backed by 50 companies including Westpac, is looking for clean energy innovations that could go global.

AAP

Footy and music fans hit by fake tickets 'scam-demic'

Scammers are pivoting to footy tickets and breaking the hearts of diehard fans as new data shows where people are caught out most often.

AAP

No RBA rate cut yet, but Governor Bullock is about to find the pressure overwhelming

Who’d want to be Reserve Bank Governor Michele Bullock? On Tuesday she had to do the almost impossible: defend a decision not to cut interest rates at a time when they were being cut in just about every other major industrial nation.

The Conversation

New fear unlocked: unemployment worries grip consumers

Consumers are becoming more concerned about the sluggish economy and what this could mean for jobs, with cost-of-living becoming a lower order worry.

AAP

Big banks help Australian share market to cash in

Shares in Commonwealth Bank and Macquarie have hit all-time highs, while Westpac hit its best level in nearly seven years.

AAP

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AAP

Westpac names business and wealth head as next CEO

Westpac says Anthony Miller will succeed Peter King who is retiring as chief executive officer and managing director after three decades with the bank.

The Guardian - AU

Disruption looms for Sydney commuters as union plans action – as it happened

All the day’s news as it unfolded

AAP

Scams target children on social media amid age debate

A survey of parents and their teenage children has highlighted the prevalence of scams online amid a debate over minimum age limits for social media platforms.

The Guardian - AU

Australia is about to get an economic health check. What do GDP figures mean and why are they important?

The numbers could mark the nadir in gross domestic product performance, while the RBA watches closely for cues to help time an interest rate cut

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AAP

No cost to taxpayers from bond scandal: ANZ head

There will be consequences across ANZ following the misconduct of employees over bonds, the company's head says.

AAP

Bank chiefs don't rate a quick end to costs crunch

Interest rates might have reached their peak but the head of Westpac says many households are still grappling with tight budgets.

The Guardian - AU

The horror, the horror: banks are having to compete for our business by offering better rates

Don’t buy the banks’ sob story. They are annoyed Australians are becoming more savvy at shopping around for better deals for their home loans

The Guardian - AU

Labor pumps $160m into Westpac fund offering lower-interest loans for household energy upgrades

But the loans are only available to those who already have or are approved for a Westpac home or investment loan of at least $150,000

AAP

Meeting minutes to show RBA dancing to its own beat

Markets will turn their attention to the Reserve Bank's latest board meeting minutes but they might be better off looking further afield for new insights.

The Guardian - AU

Australia’s productivity riddle – and what it might mean for interest rates

Michele Bullock keeps telling us productivity is flatlining. How it changes may well determine if the Reserve Bank will tolerate wage rises beyond 3%

AAP

Mixed jobs data gives RBA more food for thought

Record jobs participation will keep the Reserve Bank wary of cutting rates, despite unemployment rising in July to the highest level since November 2021.

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