Australia & New Zealand Banking Group Ltd. is preparing to cut as many as 900 jobs, according to a union that represents bank workers, as the lender trims costs in an economy where demand for mortgages has slumped to the weakest pace in three decades.
When orders to sell stocks were matched at pennies a share as markets plunged on May 6, they weren’t being executed on dark pools, executives from three of the private trading venues said at a conference today.
As Hong Kong establishes itself as a hub for offshore trade and investment in China’s currency, the city’s family-owned banks can be acquired at some of the lowest valuations since the global financial crisis.
Australian banks may scrap 7,000 jobs in the next two years as the nation’s lenders cut costs that account for 58 percent of expenses to offset the weakest credit growth since World War II, according to UBS AG.
Jason Edwards , the chief lawyer at Clearwater Capital Partners LLC, sued Australia & New Zealand Banking Group Ltd. claiming his multicurrency loan was unfairly converted, boosting his interest payments.