Australia’s corporate regulators will be subjected to a new oversight body in a shake-up of the banking sector recommended by a high-powered independent inquiry into financial sector greed and malpractice.
A powerful public inquiry into Australia’s finance industry referred 24 instances of bad corporate behavior to regulators for possible prosecution but did not suggest any individuals be criminally prosecuted in its final report released on Monday.
Australian Treasurer Josh Frydenberg on Monday said the final report of a wide-scale inquiry into the banking system would end uncertainty hanging over an industry that was “a key artery” of the economy through the provision of credit.
Asia stocks hovered near four-month highs on Monday after a mixed performance on Wall Street at the close of last week, while the dollar firmed against the yen following strong U.S. employment and manufacturing data.
Wirecard on Monday said that an external law firm it brought in to investigate actions by a member of its finance team in Singapore made no conclusive findings of criminal misconduct by any employee of the company.
Australia’s corporate regulators will be subjected to a new oversight body in a shake-up of the banking sector designed to combat the excessive greed and unethical practices that have engulfed some of the country’s biggest financial institutions.
Australia’s corporate and prudential regulators must undergo regular, rigorous assessments under an independent oversight body, a powerful review of the country’s banking sector recommended in its long-anticipated final report on Monday.
Japanese insurance companies have spent more than $50 billion on acquisitions over the past five years to become the world’s second-largest buyer of insurance assets, and the deals spree won’t be slowing down any time soon.
Asia stocks hovered near four-month highs on Monday after a mixed performance on Wall Street at the close of last week, while the dollar firmed against the yen following strong U.S. job and manufacturing data.
Asia stocks were barely moved on Monday, staying near a four-month high after Wall Street’s tepid pre-weekend performance, while the dollar was supported against the yen following strong U.S. jobs and manufacturing data.
Goldman Sachs is among the investors in a $20 million fundraising for financial technology firm Bud, the two companies said on Monday, the latest in a series of investments by big global banks seeking to partner with fintechs.
Carmaker Nissan has scrapped plans to build its new X-Trail SUV in Britain, saying it had taken the decision to consolidate production in Japan and warning two months before Brexit that uncertainty was making it harder to plan for the future.
China’s sprawling services sector maintained a solid pace of expansion in January even though growth moderated slightly, a private survey showed on Sunday, offering continued support for the world’s second-largest economy as manufacturing cools.
General Motors Co said on Saturday it is negotiating “feasibility conditions” to invest 10 billion reais ($2.73 billion) in Brazil from 2020 to 2024, after having warned last month that new investments would depend on returning to profit.
Japanese carmaker Nissan is cancelling plans to make the next model of its X-Trail sports utility vehicle in Britain, less than two months before the country is due to leave the European Union, broadcaster Sky News said on Saturday.
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