Asian shares join global rally on softer-than-expected U.S. inflation

Asian shares join global rally on softer-than-expected U.S. inflation

Asian shares tracked Wall Street higher on Thursday after a softer-than-expected U.S. inflation report encouraged bets of less aggressive rate hikes from the Federal Reserve, while the dollar remained bruised after its biggest plunge in five months. U.S. consumer prices were unchanged in July compared with June, when they rose a monthly 1.3%. The July … Read more

Westpac, one of Australia’s largest banks, hit with record $920 million penalty over money laundering scandal

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The company announced Thursday that it has agreed to the 1.3 billion Australian dollar ($920 million) fine with AUSTRAC, a regulator in Australia that fights financial crime. Westpac also admitted as part of that deal that it broke anti-money laundering and terrorism financing laws more than 23 million times. “I would like to apologise sincerely … Read more