ANZ profit surges on economy bounce; Westpac sued for insider trading in $16 billion Ausgrid sale

ANZ Bank has revealed that its statutory profit jumped by 45 percent to $2.9 billion for the half-year ending March 31. 

The bank released $491 million that it had set aside to cover potential COVID-19 losses, and said this was one of the "key drivers" of its much improved result. 

Also, Westpac has been accused of insider trading in relation to the alleged misuse of privileged information about the NSW government's sale of the energy agency Ausgrid.

Here's my report from The World Today