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The Latest Breaking News from Westpac

Australian banks hit with payment transfer outage as RBA blames technical error

Reserve bank says system is back up and running on Thursday, and they are working to clear the backlog

The Guardian - AU

RBA fesses up to nationwide bank outages

The central bank has blamed a technical error on the industry-wide bank transfer outage that left customers furious.

AAP

Australia’s big four banks face shareholder ire over funding fossil fuels

Activist group Market Forces says continued funding of coal, oil and gas is incompatible with net zero commitments

The Guardian - AU

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Children evacuated from remote south-east NSW, as emergency services deliver supplies to cut-off campers

Emergency services evacuate five people and deliver supplies via helicopter to locations in south-east NSW cut off by floodwaters, as a surprise snow dump hits alpine regions.

ABC News

‘Devastating’ branch closures in dozens of towns across Australia, as bank profits rise

Regional Australian towns have lost more than 200 bank branches over the last two years, costing customers time and money.

The New Daily

Which banks are passing on the interest rates to borrowers? What about savers?

The major lenders were quick to pass on the interest rate rise to mortgage holders, but only certain savers will see the benefits of the Reserve Bank of Australia's latest hike.

ABC News

On the lost arts of Paul Fletcher, minister for killing off creativity, culture and cred

The Coalition’s man did his best to starve artists in all fields — music, literature, drama — and now criticises Labor? Not so fast, say Crikey readers.

Crikey

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Regional Banking Taskforce calls on banks to improve communication when closing branches

The Regional Banking Taskforce is calling on banks to improve communication with regional customers and ensure local councils receive forewarnings of branch closures.

ABC News

18-year-old airlifted from Stockton to John Hunter with head injuries after falling off a ute

The Westpac team said it was tasked to the beach at around 3pm.

Newcastle Herald

Missing persons located 'safe and well' following search near Barrington Tops

PolAir located all four people late Saturday morning.

Newcastle Herald

Monthly mortgage repayments could jump by $1000, as RBA weighs another rate hike

Homeowners with a mortgage of $500,000 could be facing monthly mortgage payment increases of just under $1000 by the end of the year

The New Daily

Personal wealth shrinks as inflation soars

Falling property values and lower superannuation balances led a downturn in household wealth in the June quarter.

AAP

Westpac to close four branches across regional WA as Bankwest reduces opening hours

Bank customers across regional WA face more branch closures and reduced opening hours as Westpac announces more closures and Bankwest moves many branches to two or four-day openings.

ABC News

Why is Australia's financial crimes watchdog investigating the Perth Mint?

The Perth Mint is the world's largest producer of newly mined gold and turns over $26 billion a year — and now it's in the crosshairs of Australia's financial regulator.

ABC News

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ABC News

'Chasm' between weak consumers and booming businesses widens. How and when will it close?

Australian households are feeling "deeply pessimistic", but they are still spending money and business confidence keeps booming.

ABC News

Westpac hikes interest rates; unleaded petrol falls to eight-month low

Shares in all of the big four banks have helped push up the ASX, as the last of them announces it is hiking interest rates.

ABC News

Australians are losing billions in scams and there are calls for banks to pay them back

Sylvia Chou was looking forward to a comfortable retirement before she fell victim to an online investment scam, that she said her bank NAB should have stopped.

Crikey

At the death, Morrison and Frydenberg planned to repeal finance advice reforms

Under the guise of ‘affordability’, the Morrison government was planning a new attack on consumer protections in the financial services sector.

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news in one place.

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ABC News

John and Patricia thought they were helping their daughter in a crisis. They were actually being scammed

Experts say social media scams are on the rise in Australia, with fraudsters using personal information to trick their unsuspecting victims. So how can you protect yourself?

The New Daily

Michael Pascoe: Which way is up for our economy? Or is it down?

Keep an ear out for the various experts who were forecasting harder and faster interest rate hikes by the RBA. I suspect they might be going a little quiet.

The New Daily

Consumer confidence takes a dive as rising interest rates and high inflation weigh on sentiment

The Westpac consumer sentiment index fell for a ninth consecutive month as interest rates, falling housing prices and high inflation woes mount.

The New Daily

Michael Pascoe: RBA jawbone has done its job with consumers

Consumer sentiment normally has a political bias – voters for the government of the day survey more optimistically than those supporting the opposition.

ABC News

Business confidence rises with strong profits, but consumers are getting more pessimistic

Business confidence has risen, but consumer confidence is still deteriorating and economists warn it could be a sign of things to come.

Crikey

Household spending jumps again in June

The Australian Bureau of Statistics says household spending rose 10.2 per cent in June – the 16th consecutive month of increases.

ABC News

The Loop: Barilaro faces trade job inquiry, banks divided on interest rate expectations, two killed in Brisbane attack and ancient finds in Pompeii

Get up to speed on today's headlines with The Loop.

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