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HONG KONG, China (AFP) – Markets drifted in Asia on Wednesday, with investors trying to navigate an uncertain economic landscape as central banks hike interest rates to fight runaway inflation, in turn fuelling fears of a possible recession. But while officials at the Federal Reserve and its peers are expected to keep tightening monetary policy for the rest of the year, talk is building that they will be able to ease up in 2023 — […]
SYDNEY, Australia (AFP) — Australia’s biggest bank, the Commonwealth, has admitted more than 50,000 breaches of anti-money laundering laws, but said it will defend a host of others claims brought against it. The lender, the country’s largest company by market capitalization, was hit with a civil case by Australia’s financial intelligence agency AUSTRAC in August. AUSTRAC alleged the bank engaged in “serious and systemic non-compliance” of anti-money laundering laws involving thousands of transactions. It prompted […]
