Australia’s Westpac Banking Corp has been accused of 23 million breaches of anti-money laundering law, with regulators saying the company enabled payments from convicted child sex offenders and “high risk” countries over half a decade.
The NSE Nifty 50 index rose 0.6% to 12,014, while the S&P BSE Sensex gained 0.4% to 40,638.7. Telecom stocks advanced further after Reliance Jio, owned by billionaire Mukesh Ambani’s Reliance Industries, said it planned to hike tariffs in the next few weeks. Rivals Bharti Airtel Ltd and Vodafone Idea Ltd have already announced their plans to raise rates from next month. …read more […]
Asian shares lost out to safe-harbour bonds on Wednesday as Sino-U.S. trade talks produced nothing but white noise, while concerns about a supply glut left oil prices nursing their biggest one-day loss in seven weeks.
A “phase one” trade deal between the United States and China was supposed to be a limited agreement that would allow leaders from both countries to claim an easy victory while soothing financial markets.
Aston Martin, which has seen its share price plunge this year as sales failed to meet expectations after a stock market flotation, launched its first sport utility vehicle on Wednesday, hoping for a turnaround in fortunes.
Chinese e-commerce giant Alibaba will raise up to $12.9 billion in its Hong Kong secondary listing and is set to price its shares at HK$176 each, a 2.8% discount to their New York share price, sources with direct knowledge of the matter said.
(Bloomberg Opinion) — Interest rates could surge, exchange rates may collapse, the sun might stop shining brightly.Every conceivable danger an investor needs to be aware of in an initial public offering is discussed in the August prospectus of Sterling and Wilson Solar Ltd., among the world’s biggest engineering contractors to solar farms. And yet, the risk that struck hapless shareholders was buried under related-party transactions on Page 37: that the Indian company’s storied founders won’t keep their promise.The 42% carnage in Sterling and Wilson shares over three trading sessions in Mumbai is the story of this broken pledge. Controlling shareholders …read more […]
Regulators on Wednesday accused Australia’s Westpac Banking Corp of 23 million breaches of anti-money laundering laws, saying the bank ignored red flags and enabled payments from convicted child sex offenders and “high risk” countries for years.
Asian shares stumbled on Wednesday as the Sino-U.S. trade talks produced nothing but a stream of conflicting messages, while concerns about a glut of supply left oil prices nursing their biggest one-day loss in seven weeks.
A U.S. safety agency on Tuesday faulted Uber for inadequate attention to safety and decisions in the company’s autonomous vehicle development in an investigation into the first-ever death involving a self-driving vehicle, which also cited the vehicle’s distracted back-up driver.
Carl Icahn placing big bets against mall owners. …read more […]
New Zealand’s central bank said on Wednesday that it would look closely at findings by Australia’s financial crime watchdog calling Westpac Banking Corp’s anti-money laundering oversight “deficient”.
Freeport McMoRan Inc expects treatment and refining charges for copper concentrates in 2020 to be “well below” last year’s levels as Chinese smelting capacity is expected to rise, a senior company executive said on Tuesday. For 2020, treatment charges (TC) of around $60 per tonne and refining charges (RC) of 6 cents per lb would be a “reasonable level to settle at”, Javier Targhetta, president of Atlantic Copper and senior vice president for marketing and sales at Freeport told Reuters in an interview during Asia Copper Week in Shanghai on Tuesday. Top global miners like Freeport and Chinese …read more […]
Australia’s Westpac Banking Corp was accused on Wednesday of 23 million breaches of anti-money laundering rules, with a regulator saying the financial giant enabled payments from “high risk” countries and convicted child sex offenders.
The rise in U.S. home prices will continue to outpace consumer inflation until at least 2022, albeit at a slower pace than forecast three months ago, despite a majority of analysts polled by Reuters predicting an improvement in activity in the coming year.
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