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Bank hit with $1.3b money laundering fine

Westpac has agreed to pay a record $1.3 billion fine for major breaches of money laundering and terror financing laws – the largest civil penalty in Australian history.

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Business

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Business fears cuts to JobKeeper, lower JobSeeker

Almost two-thirds of medium-sized companies are concerned economic activity faces a significant decline, resulting in even higher unemployment, when the federal government unwinds its COVID-19 stimulus measures.

In this week’s executive appointments column, InDaily tracks the movements of those driving South Australia’s public and private sectors in industries including mining and food. Who’s who on the Corporate Ladder? Read on.

Jessica Bassano comments in

Corporate Ladder: your weekly guide to executive appointments

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Business Business

New tricks for wine's old guard

Colleagues told David O’Leary and Nick Walker they were mad when they quit senior winemaking jobs to start their own business in 2000. Now the O’Leary Walker Wines founders are sharpening their focus on cellar door offerings and exploring new markets as their wine world comes full circle.

Business

Santos posts $400 million loss

South Australia’s largest company Santos has reported a $402 million ($US289 million) loss for the first half of 2020, following months of low oil and gas prices and the coronavirus pandemic.

News

Qantas begins axing 6000 jobs after $4b pandemic hit

Qantas will sack 4000 workers next month and another 2000 are in the firing line, after taking a $4 billion hit from from pandemic-imposed travel restrictions in what CEO Alan Joyce says has been the airline’s toughest six months in its 100 year history.