Markets

Oil slides as OPEC closes in on a production increase

Oil was down more than 1% early Thursday. OPEC members and other producers appear closer to reaching a deal to raise output at the end of the week. Watch oil trade in real time here. Crude prices slid Thursday as OPEC and other producers moved closer to a deal on […]
Oil slides as OPEC closes in on a production increase
Markets

Cartel charges over ANZ shares are a wake-up call to the Australian market

Criminal cartel charges over a $2.5 billion capital raising by the ANZ Bank, with details expected to be revealed this week, are a wake-up call to ASX-listed companies to treat all shareholders the same. The Commonwealth Director of Public Prosecutions is expected to start proceedings this week over alleged cartel […]
Cartel charges over ANZ shares are a wake-up call to the Australian market
Markets

Moody’s says the cartel conduct charges against the ANZ Bank are ‘significant’ and credit negative

Credit reporting agency Moody’s Investors Service says criminal cartel proceedings against the ANZ Bank are credit negative. “The consequences of the potential proceedings could be significant and would be credit negative for ANZ,” says Frank Mirenzi, Vice President, Moody’s Investors Service. “Whilst, at this stage, there is material uncertainty with […]
Moody’s says the cartel conduct charges against the ANZ Bank are ‘significant’ and credit negative
Markets

The ANZ bank is facing criminal cartel charges over trading in its shares

A string of criminal charges are expected over an equity raising by the ANZ bank. Consumer watchdog the ACCC says charges involve alleged cartel arrangements relating to trading in ANZ shares following an institutional share placement in August 2015. ANZ and Deutsche Bank say they will defend any charges. The […]
The ANZ bank is facing criminal cartel charges over trading in its shares
Markets

Oil rallies to fresh 3-year high

Oil prices jumped to fresh highs on Tuesday morning. That’s on the back of a bullish OPEC report and Iran sanctions. Follow oil prices in real time here. Oil prices rose to fresh multi-year highs Tuesday morning after OPEC said it cut supply more than expected and as markets poised […]
Oil rallies to fresh 3-year high
News

Woolies takes a $9 million hit for cartel behaviour

The hits keep coming for struggling retailer Woolworths, which today copped a $9 million fine for breaching competition law in a price cartel over laundry detergent. In April, the Federal Court handed Palmolive one of the biggest fines in Australian corporate history, $18 million, after it pleaded to being part […]
Woolies takes a $9 million hit for cartel behaviour
US

Drug cartels are using social media to extort money

VIDEO: Tom Wainwright, author of Narconomics, is the former Mexico City bureau chief for The Economist. He explains how drug cartels are taking advantage of Facebook's popularity by using the social media site to steal money.
Drug cartels are using social media to extort money
News

Mexican officials confirm burnt remains are missing Australian surfers

Mexican officials have identified the bodies found in a burnt-out van as the two missing Australian surfers, Dean Lucas and Adam Coleman. The Sinaloa state attorney general, Marco Antonio Higuera, confirmed the findings despite the state still waiting on official paperwork. The van the men had been travelling in was […]
Mexican officials confirm burnt remains are missing Australian surfers