Westpac whistleblower reports poor risk culture and coverups to APRA

Westpac whistleblower reports poor risk culture and coverups to APRA

A Westpac risk manager claims to have been ignored and bullied for raising red flags on alleged shortcomings on a technology project at the bank. The Westpac staff member, who requested anonymity and has reported the matter to the Australian Prudential Regulation Authority and SafeWork NSW, said his treatment was an example of a poor…
Cold war between China and US should chill local investors

Cold war between China and US should chill local investors

The former deputy director of the Central Intelligence Agency, Mike Morell, tells a great story about what it's like to live with personal security following you around every second of the day. "It's fun for about a week," the 33-year CIA veteran says. But the novelty wears off, and family life becomes, well, a bit…
Coal sector: Coronado’s scaled-back ASX IPO a referendum on global outlook

Coal sector: Coronado’s scaled-back ASX IPO a referendum on global outlook

Given Coronado Global Resource's progress to listing on the Australian Securities Exchange really is a barometer of investor sentiment towards the coal sector then it has to be acknowledged that the needle is pointing to change with storms ahead. After a frugal pricing outcome from its book-build late last week, Coronado's US private equity owner…
Aussie dollar to play catch-up to Canada’s Loonie

Aussie dollar to play catch-up to Canada’s Loonie

Shifting economic data has opened the door for the Australian dollar to recoup some of its year-to-date losses to its Canadian counterpart – at least in the short-term. Canadian inflation and retail sales data, released over the weekend, signalled that market expectations for the Loonie and Canadian government bonds look about right. Bank of Canada…
Sydney slammed as auction clearance rates plunge

Sydney slammed as auction clearance rates plunge

Sydney's residential property market has sunk to a new low, with auction clearance rates likely to be revised down into the 30 per cent range after a dire weekend for vendors. Nationally, the preliminarily auction result was 47 per cent, with Sydney's preliminary rate at 44.5 per cent, but Domain chief analyst Nicola Powell said the…
Analysts warn of ‘peak growth’ for US earnings and economy

Analysts warn of ‘peak growth’ for US earnings and economy

Data to be released in the coming days and weeks will show corporate earnings and economic activity in the United States likely peaked in the most recent quarter, analysts warn. The US September quarterly profit reporting season has started well, with 87 per cent of results exceeding profit expectations and close to two-thirds beating on…
Qantas chairman Leigh Clifford: ACTU push for industry bargaining will kill jobs

Qantas chairman Leigh Clifford: ACTU push for industry bargaining will kill jobs

Qantas Airways chairman Leigh Clifford has attacked the ACTU's industry-wide wage bargaining policy, saying it will stifle investment and costs jobs, and he called on Opposition Leader Bill Shorten to reveal his official position on the issue before the next federal election. "I think someone's got to ask him what he does do so that…
Kerryn Phelps elected, Liberals punished in Wentworth bloodbath

Kerryn Phelps elected, Liberals punished in Wentworth bloodbath

Australia has its second hung Parliament this decade after voters in the seat of Wentworth punished the Liberal Party for dumping Malcolm Turnbull as leader and elected independent Kerryn Phelps in a bloodbath. In what looms as the biggest byelection swing in Australian political history, the rout was even worse than the government feared. With…
Has #MeToo made men wary of working closely with women?

Has #MeToo made men wary of working closely with women?

by Jean Marbella It's become known as the Mike Pence rule, but some men see it as a way of protecting themselves from potential sexual harassment accusations. The US Vice-President never eats alone with a woman other than his wife, according to a Washington Post article last year, and he won't attend events featuring alcohol…
Stratolaunch space plane: Microsoft co-founder Paul Allen’s dream nears take-off

Stratolaunch space plane: Microsoft co-founder Paul Allen’s dream nears take-off

by Christian Davenport The world's largest airplane took a stroll the other day. Under the cloudless skies of the Mojave Desert, it rolled out of its hangar and powered down the runway. Slowly at first, then faster, 60 mph, then 70, then 80. But it stopped just short of liftoff, like a sprinter pulling up…

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