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Westpac ticking every anti-money-laundering box wouldn’t make much difference to criminals – The Conversation AU

Anti-money laundering rules give the comfort of doing something, but prevent surprisingly little crime.

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Kathmandu cautious despite sales recovery – Australian Associated Press

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Shares in Kathmandu have jumped after the outdoor wear retailer outlined a strong recovery in sales since reopening stores in May after coronavirus restrictions were eased in Australia and New Zealand.

It expects full-year earnings before interest tax depreciation and amortisations to drop but stay above $70 million, reflecting the impact of the COVID shutdowns.

The company had reported EBITDA of $99.6 million in FY19.

It also sounded a cautious note, warning…



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Australia’s trade surplus rose 2pct in May – Australian Associated Press

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Australia’s trade surplus rose 2.0 per cent to $8.03 billion in May, as imports fell faster than exports.

Exports dropped 4.0 per cent to $35.7 billion, while imports dropped 6.0 per cent to $27.7 billion, data from the Australian Bureau of Statistics showed on Thursday.

“While disappointing expectations for a $9.0 billion surplus, the overall trade balance was largely unchanged from last month’s now downwardly revised $7.8 billion,” NAB economist…



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Markets Live, Thursday 2 July, 2020 – The Sydney Morning Herald

The Australian sharemarket has risen after US stocks lifted on vaccine hopes and better-than-expected manufacturing data. Afterpay set another record high.

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However trade from May 18 to June 28 has recovered, up 12.5 per cent at Kathmandu and 21 per cent at RipCurl. These recoveries were largely fuelled by online sales, which increased 78 per cent and 15…

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