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XJO:ANZ, Feb 27, 10:34 UTC

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Australia's ANZ agrees payout to Cambodians locked in land dispute

ANZ

Australia's ANZ agrees payout to Cambodians locked in land dispute. Group that is run by a Ly Yong Phat, a Cambodian senator and advisor to Prime Minister Hun Sen. At the time the company was involved in a land dispute with 1,200 mainly farming families in southern Kampong Speu Province, who said they were offered little compensation for land they had worked for years that was awarded to the firm for a plantation and refinery. Phone calls made to Phnom Penh Sugar and the L.Y.P Group went unanswered and there was no immediate reply to a Thomson Reuters Foundation email request for comment. Since the early 2000s, Cambodia has awarded large swathes of land to foreign companies for mines, power plants and farms to spur economic growth and alleviate poverty. But human rights lawyers have voiced concerns that such deals - which covered more than a tenth of the country's surface area by 2012 - have forced more than 770,000 people from their homes. The payout reached with ANZ should serve as an example to other land disputes that remain unresolved, said Eang Vuthy, head of Equitable Cambodia, a land rights charity advocating for the families.

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Yesterday


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Australia: Construction work done drops substantially – ANZ

ANZ

Australian construction work done fell 3.0% q/q in Q4, the largest quarterly decline in over a year and substantially larger than expected (-1.0% q/q), economists at ANZ Research reports. Q3 work done was revised up to +0.4% q/q from -0.4% q/q.”. “The downturn in residential construction accelerated to -4.6% q/q, dragged down by both new residential building (-5.1% q/q) and alterations and additions (-1.3% q/q).”. “We think private sector construction will detract close to 0.4ppt from Q4 GDP growth (due next week), even before any effects from COVID-19 start to flow through.”.

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Victims of Ponzi scheme seek $80m from ANZ

ANZ

Photo: RNZInvestors in the failed Ross Asset Management (RAM) company will be seeking $80 million from ANZ Bank when they start a legal claim next week. The High Court cleared the way for the case last year when it rejected ANZ's bid to stop the Financial Markets Authority from passing on information to the group about the company's collapse. "We believe there is clear evidence that the ANZ Bank was aware that David Ross was operating outside the bank's own commercial guidelines and that Ross was misusing RAM investor funds. Yet the ANZ Bank chose to take no action - allowing the Ponzi scheme to grow and flourish at the expense of RAM investors." "The aggressive stance taken by ANZ Bank to date suggests it wants to force us into submission and cover this up rather than have its conduct aired in public and properly tested in court," Strahl said.

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odt.co.nz rnz.co.nz
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Tuesday, February 25


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Victims of David Ross Ponzi scheme seek $80 million from ANZ Bank in lawsuit - NZ Herald

ANZ

Second bank facing potential compo payout over credit disclosure issues26 Feb, 2020 3:00pm 3 minutes to read. Investors in the failed Ross Asset Management (RAM) company will be seeking $80 million from ANZ Bank when they start a legal claim next week. • 'A broken and flawed man': NZ's largest ponzi scheme operator David Ross to remain in prison. "We believe there is clear evidence that the ANZ Bank was aware that David Ross was operating outside the bank's own commercial guidelines and that Ross was misusing RAM investor funds. Yet the ANZ Bank chose to take no action - allowing the Ponzi scheme to grow and flourish at the expense of RAM investors."

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Wednesday, February 19


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ANZ posts first quarterly home loan growth in almost two years

ANZ TRI

ANZ posts first quarterly home loan growth in almost two years | NASDAQ. Feb 20 (Reuters) - Australia and New Zealand Banking Group Ltd ANZ.AX on Thursday posted its first quarterly growth in home loan volumes in its domestic market since mid-2018, riding on the back of a robust housing recovery. Australia's fourth-largest lender said home loan volumes rose by 0.5% in the first quarter of fiscal 2020, compared with a decline of 2.6% in the previous three months, driven by higher advertising spending and additional investments. Despite ANZ servicing loans faster at home, the loans disbursed towards property-focused investors fell 3.3% in the first quarter, but were offset by a 2.5% growth in owner-occupied home loans.

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Tuesday, February 18


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Heartland offers reverse mortgages to investors; new ANZ retail boss - Good Returns

CBA ANZ +2 more CBA ANZ RBS RBS

Heartland offers reverse mortgages to investors; new ANZ retail boss. Heartland has expanded its reverse mortgage business and will now lend against investment properties and second homes, as the product becomes more popular in New Zealand [READ ON]. ANZ NZ has appointed its acting retail and business banking boss to the role full-time: [READ ON]. “Sounds good. But end of the day is still bringing back to be more productive and increase activities to generate sales.

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Thursday, February 13


News

ANZ, CBA back ban on 'no surcharge' rules used by Afterpay

ANZ

ANZ, CBA back ban on 'no surcharge' rules used by Afterpay. Commonwealth Bank and ANZ Bank say the Reserve Bank should take regulatory action to allow retailers to surcharge customers who pay using buy now, pay later schemes such as Afterpay. As the central bank considers intervening in a way that some believe could damage Afterpay's business model, the two banking giants supported action by the RBA to ban "no surcharge" policies used by Afterpay and other buy now, pay later (BNPL) schemes. This is far higher than what retailers pay to accept credit cards and, unlike these schemes, Afterpay requires that merchants do not recoup their costs by adding a surcharge to customers on the purchase price. Zip Money's submission also pushed back against RBA intervention, saying it acted as a marketing acquisition partner, and there was no evidence BNPL products were leading to higher inflation. As well as ANZ and CBA, the Customer-Owned Banking Association also said merchants who accepted BNPL should not be prevented from charging a surcharge.

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Wednesday, February 05


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Australia & New Zealand (ANZ) Connected Consumer Survey 2019: Behaviour, Preferences, and Plans of Smartphone Users in ANZ

ANZ

DUBLIN, Feb. 5, 2020 /PRNewswire/ -- The "The Connected Consumer Survey 2019: Mobile Customer Satisfaction and Churn in Australia and New Zealand" report has been added to ResearchAndMarkets.com's offering. In particular, it focuses on customer satisfaction, churn and retention-related aspects of mobile services. The survey was conducted in association with Dynata.This report provides:. Net Promoter Scores (NPSs) of operators in Australia and New Zealand.

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News

Economy to shrink in first quarter: ANZ, NAB

ANZ NAB

The bearish assessments come as Prime Minister Scott Morrison says the travel ban on visitors from China will be reviewed before the February 14 expiry and could be extended beyond the initial two weeks - a move that would stop thousands more Chinese tourists and university students from spending money in Australia. RBA governor Philip Lowe said he would be surprised it the economy shrunk in the March quarter and that the coronavirus outbreak would need to get worse for this to happen. "The understandable travel ban in place in Australia on all foreign nationals who have been in China, as well as airline cancellations, will act to sharply reduce the level of tourist arrivals," ANZ economists said in a research note on Wednesday. NAB chief economist Alan Oster is also expecting a negative March quarter, suggesting that the effects of the coronavirus and bushfires will hit consumption levels, which he expects to be lower than what most economists forecast.

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afr.com smh.com.au
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Tuesday, February 04


News

RBA on hold, forecasts little changed - ANZ

ANZ

RBA on hold, forecasts little changed - ANZ By Dhwani Mehta | February 04, 2020 06:39 GMT. David Plank, Head of Australian Economics at Australia and New Zealand Banking Group (ANZ) said that the Reserve Bank of Australia (RBA) Board kept the cash rate at 0.75% in February. But the big surprise was the description of the growth outlook. “The central scenario is for the Australian economy to grow by around 2¾ per cent this year and 3 per cent next year, which would be a step up from the growth rates over the past two years. It is possible that the numbers to be published in Friday’s Statement on Monetary Policy (SoMP) will reveal some impact from the bushfires and coronavirus, but the initial assessment is modest enough to allow the RBA to leave its presentation of the central scenario unchanged.

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