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Casino group Star Entertainment hits record low on equity raising plans

Casino group Star Entertainment hits record low on equity raising plans By Rishav Chatterjee Sept 27 (Reuters) - Shares of Australia's Star Entertainment Group SGR.AX touched a record low on Wednesday, as they resumed trading after the casino operator announced its plans to raise A$750 million($480.23 million) to undergo a capital restructuring. The cash-strapped company said on Monday it would raise capital at 60 Australian cents per share, a 20% discount to the stock's closing price last Frida
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US yields march higher, Asia stocks sag amid Fed angst

GLOBAL MARKETS-US yields march higher, Asia stocks sag amid Fed angst By Kevin Buckland TOKYO, Sept 26 (Reuters) - U.S. Treasury yields scaled fresh 16-year peaks on Tuesday, keeping the dollar near a 10-month high, as investors responded to the message from the Federal Reserve and other major central banks that rates are likely to stay elevated for longer.
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US yields revisit highs, Asia stocks sag on hawkish Fed angst

GLOBAL MARKETS-US yields revisit highs, Asia stocks sag on hawkish Fed angst By Kevin Buckland TOKYO, Sept 26 (Reuters) - U.S. Treasury yields scaled a fresh 16-year peak on Tuesday, underpinning the dollar near a 10-month summit, as investors responded to the message from the Federal Reserve and other major central banks of rates staying elevated for longer.
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Australian casino group Star Entertainment to raise $481 mln in equity

UPDATE 1-Australian casino group Star Entertainment to raise $481 mln in equity Adds details of plan By Scott Murdoch Sept 25 (Reuters) - Australian casino operator Star Entertainment Group SGR.AX is tapping the capital markets for a second time in 2023 as it aims to raise A$750 million ($481.43 million) as part of a major capital restructure to strengthen its balance sheet.
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Australia shares close higher on optimism from China support measures

CORRECTED-Australia shares close higher on optimism from China support measures Corrects to "never", from "ever", in quote in paragraph 4 ASX 200 rises, but posts worst week since September 2022 Miners snap 4-day losing run Rio Tinto pauses mining in Pilbara, shares drop By Poonam Behura Sept 22 (Reuters) - Australian shares broke a four-session losing streak on Friday, aided by commodity and financial stocks, as hopes of stimulus measures by the country's biggest trading partner, China, raised
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Macquarie downgrades Aussie banks as high costs clouds earnings

BUZZ-Macquarie downgrades Aussie banks as high costs clouds earnings ** Macquarie downgrades Australian banks .AXFJ to "underweight," flagging cost pressures due to higher expenses ** Brokerage projects cost growth 1-5% above the consensus estimate of 2-3% increase in FY24-25, tracking rising wages ** Adds, staff costs represent ~55% of banks' expe
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Not much exciting about Aussie banks as high costs pressure earnings - Macquarie

Not much exciting about Aussie banks as high costs pressure earnings - Macquarie Sept 22 (Reuters) - Rising wage costs and higher investment spending by Australian banks pose headwinds that could potentially impact the sector's earnings by up to 10% in the near term, analysts at Macquarie said on Friday, downgrading their sector rating to "underweight".
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Australia's Westpac rises as Macquarie says co's institutional business done relatively well

BUZZ-Australia's Westpac rises as Macquarie says co's institutional business done relatively well ** Institutional business has performed relatively well for Australia's Westpac WBC.AX over the recent years, analysts at Macquarie say ** Westpac stock up as much as 1.6% to A$21.9, its highest since Aug 31 ** Brokerage sees further upside value on co
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Australian lender NAB to close Hong Kong office

UPDATE 2-Australian lender NAB to close Hong Kong office Adds analyst comment in paragraph 3 and 6, share moves in paragraph 4 By Navya Mittal and Echha Jain Sept 14 (Reuters) - National Australia Bank (NAB) NAB.AX said on Thursday it would shut its Hong Kong branch, as offices in Singapore, Tokyo and Shanghai were its preferred customer outreach hubs in Asia.
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Aussie lender NAB to cut 222 back-office jobs, says trade union

UPDATE 2-Aussie lender NAB to cut 222 back-office jobs, says trade union Recasts copy to add FSU's statement in paragraph 1, adds details from the statement in paragraphs 2-4, adds NAB's statement in paragraphs 5-6 By Poonam Behura Sept 6 (Reuters) - National Australia Bank NAB.AX is planning to cut 222 back-office jobs , the Finance Sector Union (FSU) said in an emailed response to Reuters.
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Banks, commodity stocks drag Australian shares down; RBA stands pat on rates

Banks, commodity stocks drag Australian shares down; RBA stands pat on rates RBA keeps interest rates steady Gold stocks fall most since Aug 17 NZ50 falls most since Aug 21 Updates to close By Echha Jain Sept 5 (Reuters) - Australian shares slipped on Tuesday, dragged by banking and commodity stocks after the country's central bank warned of further monetary tightening while keeping the interest rates steady.
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Banks, commodity stocks drag Australian shares lower ahead of RBA decision

Banks, commodity stocks drag Australian shares lower ahead of RBA decision Sept 5 (Reuters) - Australian shares fell on Tuesday, weighed down by commodity and banking stocks, as cautious traders awaited the central bank's key interest rate decision. The S&P/ASX 200 index .AXJO retreated 0.4% to 7,287.9 as at 0032 GMT. The benchmark ended 0.6% higher on Monday.
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Australia's Westpac hits nearly 1-week low on regulator lawsuit

BUZZ-Australia's Westpac hits nearly 1-week low on regulator lawsuit ** Shares of Westpac Banking Corp WBC.AX down as much as 0.6% to A$21.66, their lowest since Aug 30 ** Australia's corporate regulator on Tuesday said it was taking WBC to court for negligence over financial hardship notices ** Westpac says legal proceedings are linked with a "tec
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Australia sues Westpac for negligence over financial hardship notices

UPDATE 3-Australia sues Westpac for negligence over financial hardship notices Adds share moves in paragraph 3, background in paragraph 5, analyst quote in paragraph 6 By Roushni Nair Sept 5 (Reuters) - Australia's corporate regulator said on Tuesday it was taking Westpac Banking Corp WBC.AX to court over its alleged failure to respond to customers' financial hardship notices between 2015 and 2022 within the required administrative time frame.
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Australia's ASIC Sues Westpac For Failing To Respond To Hardship Notices

BRIEF-Australia's ASIC Sues Westpac For Failing To Respond To Hardship Notices Sept 5 (Reuters) - Australia's ASIC: SUES WESTPAC FOR FAILING TO RESPOND TO HARDSHIP NOTICES COMMENCED CIVIL PENALTY PROCEEDINGS IN FEDERAL COURT AGAINST WESTPAC FOR FAILING TO RESPOND TO CUSTOMERS’ HARDSHIP NOTICES ASIC ALLEGES THAT BETWEEN 4 SEPT 2017 AND 20 MARCH 2022, WESTPAC BREACHED THE NATIONAL CREDIT CODE IN SOME CASES, CUSTOMERS ENDURED DEBT COLLECTION ACTIVITIES BY WESTPAC WHILE WAITING FOR BANK TO RESPOND
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Westpac acknowledges legal proceedings on financial hardships negligence

REFILE-Westpac acknowledges legal proceedings on financial hardships negligence Corrects date in dateline to Sept 5 Sept 5 (Reuters) - Australia's Westpac Banking Corp WBC.AX on Tuesday said it was aware of legal proceedings commenced by the country's corporate regulator alleging the lender's failure to assist its customers with financial hardship
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Westpac Acknowledges Civil Penalty Proceedings Commenced By ASIC

BRIEF-Westpac Acknowledges Civil Penalty Proceedings Commenced By ASIC Sept 5 (Reuters) - Westpac Banking Corp WBC.AX : ACKNOWLEDGES CIVIL PENALTY PROCEEDINGS COMMENCED BY ASIC TODAY IN FEDERAL COURT BETWEEN 2015 AND 2022 WESTPAC RECEIVED APPROXIMATELY 630,000 APPLICATIONS FOR HARDSHIP ASSISTANCE ONCE WESTPAC IDENTIFIED THE INCIDENT CO SELF-REPORTE
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Aussie lender NAB to cut 10% jobs in markets division - AFR

UPDATE 1-Aussie lender NAB to cut 10% jobs in markets division - AFR Adds details on layoffs in paragraph 2-5 Aug 28 (Reuters) - National Australia Bank NAB.AX is preparing to cut around 60 jobs of the 600-staff at its markets division and undertake a broad restructuring exercise across its seven business, the Australian Financial Review said on early on Monday citing sources.
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Morgan Stanley trims PT on Westpac after higher expenses

BUZZ-Morgan Stanley trims PT on Westpac after higher expenses ** Analysts at Morgan Stanley cut price target on Australia's Westpac Banking Corp WBC.AX to A$20.60 from A$21 ** The bank posted quarterly cash profit of A$1.8 bln ($1.15 bln) on Monday, in line with consensus expectations, but flagged acceleration in expenses in the quarter, sending it
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Australian shares end lower as financials, gold stocks weigh

Australian shares end lower as financials, gold stocks weigh China delivers smaller-than-expected rate cut Westpac hits nearly 2-month low BHP to report fiscal 2023 results Tuesday Updates to close By John Biju Aug 21 (Reuters) - Australian shares slipped on Monday, in line with weakness in global markets, with financial and gold stocks leading losses after China delivered a smaller-than-expected cut to its lending rates.
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