Australia’s PM meets deputy to fix sex-scandal split

By Alison Bevege SYDNEY, Feb 17 : Prime Minister Malcolm Turnbull has held crisis talks with his deputy Barnaby Joyce to heal a dangerous rift that is threatening the ruling coalition’s one-seat majority. A source with knowledge of the talks told Reuters that the pair met for an hour on Saturday and agreed to move […]

Cracks widen in Australian coalition as deputy PM calls Turnbull ‘inept’

By Colin Packham SYDNEY, Feb 16 : A major rift opened up in Australia’s fragile ruling coalition on Friday as Deputy Prime Minister Barnaby Joyce refused to quit over an affair with a staff member, and derided Prime Minister Malcolm Turnbull’s condemnation of his behaviour as “inept”. Turnbull, whose coalition holds a razor-thin majority of […]

Bank lending in spotlight as Australian inquiry begins

By Jonathan Barrett and Paulina Duran SYDNEY, Feb 12 : A government-backed inquiry into Australia’s finance sector on Monday said it will start its year-long investigation by scrutinising the selling tactics of banks’ most lucrative products – mortgages. The Royal Commission inquiry heard on its opening day that almost half of the over 385 public […]

Australia’s big banks focus on job cuts as inquiry looms

By Paulina Duran SYDNEY, Feb 11 : Australia’s big banks are responding to a revenue crunch by cutting jobs and other costs, prompting fears on the eve of an inquiry into their businesses that the industry’s tarnished reputation is about to take another hit. Regulators’ demands that banks hold more capital and their scrutiny into […]

Australia, NZ dlrs tempered by waning risk appetites

By Swati Pandey SYDNEY, Feb 9 : The Australian dollar slipped to a more than one-month trough on Friday and was on track for its second straight weekly loss amid a global flight to safety while its New Zealand cousin also struggled near recent lows. The Australian dollar eased 0.2 percent to $0.7767, a level […]