Edition:
United Kingdom

Byron Kaye

Australian $35 billion French submarine contract is already nine months late - report

15 Jan 2020

SYDNEY Australia's A$50 billion ($35 billion) submarine order with French shipbuilder Naval Group is running nine months late and the defence department cannot show that A$396 million already spent on the contract was effective, according to an audit report.

For sale: manager of Australian bushfires app

14 Jan 2020

SYDNEY The management of a smartphone app used by millions of Australians to get live bushfire updates may be sold as its developer restructures to cut debt, even as it looks to extend the app nationally, the company's CEO said.

Don't be put off by fires, Australia tells tourists

09 Jan 2020

SYDNEY Australian Prime Minister Scott Morrison urged foreign tourists not to be deterred by deadly wildfires that have razed large swathes and sent smoke as far as South America, even as authorities fretted about renewed dangers ahead. | Video

Bad to worse: pain not over for Australia's beleaguered banks

20 Dec 2019

SYDNEY Australia's biggest lenders are bracing for another year of pain as the fallout from a string of scandals shows no sign of letting up following a blistering public inquiry into financial sector misconduct.

UPDATE 3-Australia's NAB has self-reported anti-money laundering shortcomings

18 Dec 2019

* NAB says has reported shortcomings to money laundering regulator

UPDATE 2-Australia's NAB faces 'fees for no service' lawsuit

17 Dec 2019

SYDNEY, Dec 17 Australia's securities regulator on Tuesday filed a lawsuit against National Australia Bank Ltd accusing it of charging financial advice customers "fees for no service", even as a government-ordered inquiry lambasted the industry for the practice.

UPDATE 2-Australia's ANZ to refund 3.4 mln accounts that 'need fixing'

17 Dec 2019

* ANZ says 3.4 mln customer "need fixing" in fee scandal fallout

Australia firefighters accidentally spread blaze ahead of heatwave

16 Dec 2019

SYDNEY A backburning operation intended to contain a massive wildfire in eastern Australia sparked out of control, damaging buildings and cutting off major roads, authorities said, as the country heads into another heatwave that may topple temperature records.

'Out of market today': Australia brandishes four words crucial to case against Citi, Deutsche

13 Dec 2019

SYDNEY A four-word handwritten note by a JPMorgan Chase & Co banker has been seized by Australian prosecutors as fundamental to a criminal cartel prosecution against Citigroup Inc and Deutsche Bank AG, a court heard on Friday.

Explainer: Why are banks watching Australia cartel case involving JP Morgan, Citi & Deutsche?

12 Dec 2019

HONG KONG/SYDNEY Investment bankers the world over are paying close attention to court hearings in Sydney in a landmark legal case that alleges cartel activity by Citigroup and Deutsche Bank employees, with JPMorgan witnesses appearing for the prosecution.

World News

Trump adds legal heavyweights Starr, Dershowitz to impeachment team

President Donald Trump turned to some legal heavyweights to help defend him in his Senate impeachment trial with the addition on Friday of former independent counsel Ken Starr, who paved the way for former President Bill Clinton's 1998 impeachment, and prominent lawyer Alan Dershowitz.