Leading developer Nathan Blackburne has painted a more positive picture than many of his peers, saying build costs are expected to decrease and labour availability will improve next year.
Westpac has posted a 12 per cent drop in first half cash earnings to $3.1 billion, on the back of competitive pressures in the home loan market and increased provisions for bad debts.
Bankwest has told staff it plans a major shift in strategy, with its entire business banking operation to be shifted to parent company Commonwealth Bank.
Westpac is seeking to cut about 20 per cent of its head office jobs as an increasingly competitive operating environment prompts the bank to bring forward cost-saving efforts.
Westpac has unveiled a $3.5 billion share buyback after posting a surge in annual earnings on the back of a strong home loans market and lower provisions.
Australia's big four banks have been quick to jump on board an expanded federal loan scheme to help steer small businesses through the spate of coronavirus lockdowns.
Stadiums and shops could be the next frontier of Australia's coronavirus vaccine rollout, with a plan to administer drive-through jabs being weighed up.
Perth businessman Michael Mercanti, who founded the Mike's Multi Service chain, and his wife Sybil are suing Westpac for allegedly allowing their son Tyrone to withdraw more than $3.9 million from their bank account without consent.
Westpac has posted a rebound in half-year earnings as an improving economy helped it dodge potential pitfalls and boosted activity in the key home loans market.
Financial regulator APRA has closed its investigation into Westpac's breaches of anti-money laundering and terror financing laws, but says it will make sure the bank improves its operations.
Westpac claimed first-quarter cash earnings were up 54 per cent and boss Peter King says there had been a significant increase in home loan applications.
Australia's biggest banks appear to be chasing new home loan business by cutting their fixed rate products, rather than supporting existing customers with variable rate mortgages.
Westpac has had a 62 per cent dive in full-year cash earnings, largely from the effects of COVID-19 and its $1.3 billion penalty for breaches of money laundering and terror financing laws.
Australia's second largest bank, Westpac, believes the $900 million it has set aside for an eventual settlement with financial regulator AUSTRAC over breached anti-money laundering laws is adequate.
Western Australia's internal economy grew 0.9 per cent in the March quarter even as Australia as a whole contracted 0.3 per cent, but those numbers mostly predate the economic impact of the COVID-19 lockdowns.
Westpac has joined rival ANZ in deciding to not pay an interim dividend to shareholders after it posted a first-half profit slide because of hefty impairment charges related mainly to the COVID-19 pandemic.
Westpac has announced it will take a $2.24 billion pre-tax first-half impairment charge, mostly because it expects some of its loan customers won't survive the coronavirus crisis.
National Australia Bank's first-half result will be rocked by a $1.14 billion triple hit of extra charges and writedowns even before coronavirus impacts are factored in.
Australia could experience a sustained recession into the second half of 2020, new research from Bank of America predicts, while the latest data from the Australian Bureau of Statistics offers little insight into the impact of shutdowns on unemployment in Western Australia.
Westpac's money laundering scandal could blow a $1.03 billion hole in its first-half cash profit, with the bank setting aside an eye-watering $900 million for a potential legal penalty.
