Westpac refunds customers $20 million for foreign transaction fees
WESTPAC has refunded $20 million to about 820,000 customers after failing to clearly disclose which credit card transactions attract foreign transaction fees.The bank notified the Australian Securities & Investments Commission that customers may have been wrongly charged the fees for transactions processed by international companies, following a customer complaint.Westpac’s terms and conditions did not clearly state that foreign transaction fees would be charged for Australian dollar transaction..>> view originalMarkets Live: ASX slides ahead of ECB
That's it for Markets Live today. Thanks for reading and your comments. See you all again tomorrow morning from 9. Australian shares fell sharply on Thursday's open and struggled to find meaningful upward momentum as investors lost their appetite for the big four banks and the miners. The benchmark S&P/ASX 200 Index and the broader All Ordinaries Index each closed down 0.7 per cent to 5385.8 points and 5484.6 points respectively, after a halfhearted stab at recovery in the afternoon. "In the..>> view originalQueensland solar farms to be built with $50m in funding
Six massive new solar farms will be built across the state after Queensland secured more than half of the $100 million from the federal government's latest round of solar funding.New farms will be built in Dalby, Oakey, Longreach and Kidston west of Townsville and two in Collinsville. Queensland solar farms have received more than half of $100m in funding from the federal government. Photo: Supplied Origin Energy's 107 megawatt Dalby farm will be Australia's biggest.Six successful Queens..>> view originalDebenhams arrival may be a pain for Myer
Petrina BerryAustralian Associated PressThe arrival of British department store giant Debenhams in Australia is set to challenge the local players, particularly Myer.The Debenhams retail empire of 243 stores in 28 countries will expand in 2017 to include its first Australian store, in Melbourne's new luxury shopping mall St Collins Lane.Debenhams plans to open smaller format department stores in Australia, offering an exclusive selection of its designer fashion labels.The arrival of the British ..>> view originalWoolworths 'stitched up' hardware partner Lowe's
Lowe's launches court action over Masters US home improvement retailer Lowe's claims it was "stitched up" by Woolworths in a deal to sell Masters stores and sites for around $800 million.Lowe's has asked Woolworths to produce almost 20 documents associated with the sale of their home improvement joint venture, including information it claims shows Woolworths had a deliberate strategy to push through the Masters deal and terminate the venture.Lowe's has also claimed that Woolwort..>> view originalSigma's fledgling China site going strong
Trevor ChappellAustralian Associated PressSigma Pharmaceuticals says its fledgling online business in China is performing strongly as consumers snap up infant formula and papaya ointment.The drugs wholesaler and pharmacy services provider also says it does not fear competition from private hospitals operator Ramsay Health Care, which intends to expand its pharmacy network beyond its hospitals.Sigma supplies drugs and support services to pharmacies under the Amcal, Amcal Max, Guardian Discount Dr..>> view originalManagement of $12 billion Crown land estate slammed as 'inadequate'
Some organisations leasing NSW Crown land are more than 10 years late in paying rent and a dozen owe more than $100,000 each, according to a damning report on the management of the $12 billion public estate.The report by NSW Auditor-General Margaret Crawford warns the lands department's "overall governance of decision-making for the sale and lease of Crown land is inadequate". NSW Lands Minister Niall Blair concedes management of Crown land needs to be improved. Photo: Nick Moir The depa..>> view originalUnions march from AFL House to Parliament to support CUB workers
THE Melbourne CBD has been shut down as thousands of workers march in support of 55 sacked maintenance workers at the Carlton & United Breweries.Bourke St from Spencer St to Spring St has been closed as workers take part in the rally.Cars were beginning to back up on streets intersecting with Bourke St as some motorists appeared visibly frustrated.media_cameraBourke St from Spencer St to Spring St has been closed as workers take part in the rally. Picture: Sarah Matraymedia_cameraThe rally is ma..>> view originalANZ Banking Group reshuffles management
ANZ Banking Group chief operating officer Alistair Currie will leave the bank later this year after a shake-up of its management of technology and operations, including making the chief information officer report directly to the chief executive. The changes announced to the ASX on Thursday reflect ANZ chief executive Shayne Elliott's desire for the main customer facing divisions of the bank – retail, commercial, institutional and wealth – to have responsibility for technology and the management..>> view originalWhy the gender pay gap is a myth
Employment Minister Michaelia Cash wants to close the gap on pay. Picture: Mark StewartTHE gender pay gap is a myth.Every year, twice a year — on International Women’s Day and today, so-called Equal Pay Day — figures are trotted out that show on average, women earn less than men, as if this is somehow a scandal in need of urgent action.According to the Workplace Gender Equality Agency, this year the “gender pay gap” figure is 16.2 per cent, down from 18.5 per cent in 2014.“Women working fulltime..>> view original
Monday, September 12, 2016
Westpac refunds customers $20 million for foreign transaction fees and other top stories.
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