Westpac has reaches a deal with financial crime agency AUSTRAC to settle more than 23 million alleged breaches of anti-money laundering laws by paying a record $1.3 billion penalty.
The fine outstrips the $700 million paid by the Commonwealth Bank to settle almost 54,000 breaches.
ABC's Peter Ryan says the penalty is reputation-shattering for Westpac.
The National Broadband Network will get a $4.5 billion upgrade to provide better speeds to homes and businesses in the latest response to the COVID-19 crisis.
But is the upgrade an admission that the current project is not up to the job?
NBN Co chief executive Stephen Rue skirts around the politics when he speaks with ABC's Peter Ryan.
The National Broadband Network will get a $4.5 billion upgrade to provide better speeds to homes and businesses in the latest response to the COVID-19 crisis.
The move comes after the NBN has endured years of criticism that the project was sub-standard because of the Coalition's decision to use copper wire and old technologies instead of fibre connections.
Communications Minister Paul Fletcher denies the policy change is a backdown or an admission that the NBN is just not good enough.
The National Broadband Network will get a $4.5 billion upgrade to provide better speeds to homes and businesses in the latest response to the COVID-19 crisis.
The move comes after the NBN has endured years of criticism that the project was sub-standard because of the Coalition's decision to use copper wire and old technologies instead of fibre connections.
Communications Minister Paul Fletcher denies the policy change is a backdown or an admission that the NBN is just not good enough.
Here's my report from this morning's AM program
Global sharemarkets have dived on fears that a second wave of coronavirus will prompt more lockdowns across Britain and Europe.
The US Congress is stalled on emergency stimulus and a replacement for late US Supreme Court justice Ruth Bader Ginsberg is to dominate as Nov 3 election looms.
The good news? RBA's Guy Debelle has played down rerun of the Great Depression.
Here's my report from The World Today
Fears are rising about a wave of insolvencies in corporate Australia when emergency measures protecting companies end on December 31.
ASIC chairman James Shipton warned earlier this year there might not be enough administrators and liquidators to deal with companies in distress.
King & Wood Mallesons head of restructuring and insolvencies Tim Klineberg tells ABC's Peter Ryan that "zombie" companies surviving because of the measures risking dragging down other parts of the economy.
Here's my analysis from RN Breakfast
