Email By Philippa McDonald Updated November 21, 2019 17:10:06 Photo: Human Group director Helen Rosamond is accused of paying millions in kickbacks to secure lucrative contracts from NAB. (AAP: Peter Rae) Related Story: 'Serious breach of trust': Police arrest woman accused of fraud against NAB Related Story: NAB linked to investigation into multi-million-dollar corporate fraud Map: Potts Point 2011 A Sydney woman is facing 74 separate charges of bribery and corruption after she allegedly defrauded one of the nation's biggest banks to the tune of $26.7 million. Key points:Ms Rosamond allegedly bribed the NAB's former chief of staff with luxury travel and renovationsProsecutors claim she secured lucrative contracts with NAB for her companyIt is alleged Ms Rosamond's invoices to NAB were as high as $3.3 million Helen Rosamond, 44, allegedly paid millions of dollars in kickbacks, which included first-class air travel, to secure lucrative contracts from the National … [Read more...] about Woman who allegedly defrauded big bank tens of millions facing new charges
Email By business editor Ian Verrender Updated November 27, 2017 19:56:53 Photo: The Prime Minister has repeatedly rejected the idea of a banking royal commission. (ABC News: Nick Haggarty) Related Story: Banking royal commission snub could fuel 'wipe-out' at next election, Liberal warns Related Story: What is a royal commission and why does Labor want one? Related Story: Turnbull cancels sitting week to deal with same-sex marriage vote Map: Australia The onslaught has begun.The television ads are in overdrive, the tame media commentators are barking and even the bankers themselves are putting on a parade, gracing as they did the stage at a "summit" last Thursday.And all within a week since rumblings from Coalition members threatening a private members bill to bring on a royal commission into banking.Those bloated profits from our financial institutions, they benefit all of us, we're told in soothing tones by reassuringly ordinary looking Aussies staring benignly from … [Read more...] about Royal commission into banking: The inquiry that could kill the Government
Email By Anna Henderson and Dan Conifer Updated April 11, 2016 13:00:34 Related Story: Labor takes aim at big banks, promising royal commission Map: Australia Federal Opposition Leader Bill Shorten says an incoming Labor government would hold a royal commission into misconduct in the banking industry.We look at the role of royal commissions and what would likely be involved.What's a royal commission?Royal commissions are public inquiries governed by an act of Parliament. They can be called on any matter "connected with the peace, order and good government of the Commonwealth or any public purpose or any power of the Commonwealth".Why does Labor want one?The financial and banking sectors have been rocked by controversies in recent years. CommInsure scandal: Who's who?Meet some of the key players involved in the scandal engulfing one of Australia's biggest life insurers, CommInsure. In 2014 a Senate committee recommended a royal commission into the Commonwealth Bank … [Read more...] about What is a royal commission and why does Labor want one into the banking industry?
Email Exclusive by political reporter Anna Henderson Updated November 24, 2017 20:22:39 Photo: The Prime Minister has repeatedly rejected the idea of a banking royal commission. (ABC News: Nick Haggarty) Related Story: Leaders trade insults over 'outrageous' decision to scrap sitting week Related Story: Turnbull cancels sitting week to deal with same-sex marriage vote Related Story: Same-sex marriage divisions within Government reignite push for banking inquiry Map: Australia The Prime Minister has received an ominous warning from the head of a blue-ribbon New South Wales Liberal Party branch, calling on him to capitulate and establish a royal commission into the banks or face the issue contributing to a "wipe-out" at the next election. Key points:Peter McNamee wrote to PM asking him to change his mind on banking royal commissionHe is the branch president in one of the safest Liberal seats in the countryTwo Government MPs would need to cross floor to pass commission … [Read more...] about Banking royal commission snub could fuel ‘wipe-out’ at next election, grassroots Liberal warns
Indian stock markets opened in the green on Thursday, i.e. 21 November, but later erased initial gains to trade in the negative zone. At 10:45 am, the benchmark S&P BSE Sensex fell 74.30 points, or 0.18%, to 40,577.34, while the Nifty 50 index was down 24 points, or 0.2%, to 11,975.10. Zee Entertainment, BPCL, Bharti Airtel, UCO Bank, DHFL, Tata Motors, Coffee Day Enterprises and Reliance Capital were among the key stocks in news today. Read on to know more: Zee Entertainment: Zee Entertainment Enterprises Ltd shares surged 18.5% after Essel Group said it is planning to sell a 16.55 stake in the company to financial investors. BPCL: Shares of Bharat petroleum Corp. Ltd fell 3.2% after the Cabinet approved the privatisation of the state-owned oil marketing company. The government will sell its entire 53.29% stake in the company to a strategic buyer along with giving up management control. Bharti Airtel: Bharti Airtel Ltd shares declined 2.6% even as the Cabinet late on Wednesday … [Read more...] about Zee Entertainment, BPCL, Bharti Airtel, UCO Bank Among Key Stocks in Focus Today