Westpac flags $235m hit to earnings for advice scandal, litigation

Westpac Banking Corp has flagged a $235 million reduction in full-year cash earnings as it increases provisions to refund customers who were charged for inadequate or non-existent financial advice. The amount also includes estimated provisions for recent litigation, including costs and penalties flowing from cases brought by the regulator over responsible lending practices and alleged interest-rate rigging. Westpac has flagged […]

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FTSE Russell Includes China Stocks in Boon to Battered Market

Global index provider FTSE Russell said it will start including mainland Chinese shares in its major benchmarks from June next year, in a move that it expects will draw initial net inflows of $10 billion from passive investors. The decision on Wednesday to include China’s so-called A-shares in its widely followed global benchmarks follows three straight years of the group […]

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Included in House FAA bill: Minimum size for airline seats

The House voted Wednesday to direct the federal government to set a minimum size for airline seats, bar passengers from being kicked off overbooked planes, and consider whether to restrict animals on planes. Continue Reading Below Those and other passenger-related provisions were included in a bill to authorize Federal Aviation Administration programs for five years. The House approved the measure […]

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Treasury Yields Retreat Ahead of Fed Rate Decision Today

This article was originally published on ETFTrends.com. Investors appear ready to continue forward with the rate-hiking prescription written for the federal funds rate by the Federal Reserve who will announce their interest rate decision later today. It’s widely expected that Fed Chairman Jerome Powell will announce another rate hike to temper economic growth, causing benchmark Treasury yields to retreat–the 10-year […]

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A Surprising Bond ETF Sees Big Inflows

This article was originally published on ETFTrends.com. Amid dollar strength, emerging markets bonds and the related ETFs are struggling this year. Year-to-date, the iShares J.P. Morgan USD Emerging Markets Bond ETF (NASDAQ: EMB), the largest ETF in this category, is down almost 8%, but that is not stopping some investors from bargain hunting with the fund. Beyond the short-term volatility […]

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Papa John's Asks Potential Acquirers to Submit Offers -Sources

Papa John’s International Inc, the world’s third-largest pizza delivery company, has reached out to potential acquirers to ask them to submit offers, people familiar with the matter said on Wednesday. The sale process comes as Papa John’s is seeking to fend off efforts by its founder, John Schnatter, who owns about 30 percent of Papa John’s, to regain control of the company. He resigned as […]

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'Papa John' Schnatter denies contacting equity firms about bid to buy back company

Papa John’s stock lifts amid founder’s resignation 32 Advisors CEO Robert Wolf on how Tesla CEO Elon Musk apologized for calling one of the men involved in the Thai cave rescue a “pedo.” Wolf also discussed how Papa John’s Founder John Schnatter resigned after he admitted to using the N-word on a conference call. Former Papa John’s CEO John Schnatter […]

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The Latest: House approves bill to keep US government open

Speaker of the House Paul Ryan, R-Wis., left, and Majority Leader Kevin McCarthy, R-Calif., arrives for a news conference to talk about a defense funding bill moving in the House today, at the Capitol in Washington, Wednesday, Sept. 26, 2018. (AP Photo/J. Scott Applewhite) The Latest on a spending bill that averts a federal government shutdown (all times local): Continue […]

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Companies are warning about declining profits, which could mean trouble for this bull market

Companies are lowering their expectations for the upcoming third-quarter earnings season. So far, 98 have provided guidance, with 74 percent negative and just 24 positive, the worst ratio since the first quarter of 2016 when corporate America was in an earnings recession. Citigroup strategist Tobias Levkovich said investors’ high expectations for profits could cause a hit to markets if earnings […]

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