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.
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.
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
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.
* NAB says has reported shortcomings to money laundering
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.
* ANZ says 3.4 mln customer "need fixing" in fee scandal
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.
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.
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.