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ANZ cops A$240m fine for ‘unconscionable conduct’
Lachlan Colquhoun
Mon, 15 Sep 2025
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High Court declines request to pause greyhound racing ban
The Greyhound Racing Association has failed to halt the progress of a ban on greyhound racing pending a judicial review of the Government’s decision.
In a High Court ruling issued on Monday, Justice Dale La Hood declined the Association’s application for an interim order blocking the ban taking effect.
The judge said such an order, to have any effect, would contravene the principle of non-interference by the courts in the legislative process.
The Government had also not required greyhound racing to cease in the meantime, so an interim order was not required to preserve the Association’s position until the judicial review was concluded, said the judge.
The Association’s application for a judicial review of the ban, which is due to be implemented in August next year, is scheduled for a two-day hearing starting on December 1.
AMP to pay A$120m for fee overcharging
ASX-listed financial group AMP Ltd has agreed to pay A$120 million ($1354m) to settle a class action alleging overcharging fees on the pension funds of more than two million Australians.
Legal firms Slater & Gordon and Maurice Blackburn led the action in the Federal Court, and the action related to superannuation products sold between 2008 and 2020, for which AMP allegedly “systemically overcharged members”.
AMP made an ASX announcement today that it would contribute A$75m to the settlement, with the balance covered by insurance.
The company made no admission of liability.
Services sector in contraction mode for 18 consecutive months
Service sector businesses continue to be pessimistic about the economy amid ongoing weakness in activity and new orders.
The BNZ-BusinessNZ Performance of Services Index declined 1.4 points to 47.5 in August, when compared with July. A reading below 50 indicates contraction. The sector has now been in ongoing contraction for 18 months.
The activity/sales and new orders/business categories slipped from July, while employment improved within the contraction zone.
The proportion of negative comments rose, with ongoing widespread pressures from inflation, interest rates, cost of living, and weak consumer confidence denting demand and spending. On Friday last week, the BNZ-BusinessNZ Performance of Manufacturing Index fell 2.9 points to 49.9 last month.
Economists expect this Thursday’s GDP data to reveal the economy went backwards in the June quarter, before an expected return to growth again in the current September quarter, while two further OCR cuts are expected in October and November.
TradeWindow seeks ASX foreign exempt listing
Trade Window Holdings has announced it is pursuing a foreign exempt listing on the Australian Securities Exchange (ASX) "with the goal of increasing its profile among the broad pool of investors across the Tasman".
The NZX-listed trade-related software business told the market this morning it is targeting the completion of an ASX listing before the end of November.
TradeWindow CEO AJ Smith said the move would give it access to a broader pool of institutional and retail investors familiar with our technology and the international opportunities we enjoy, and therefore "facilitate greater access to capital to fund future growth opportunities".
Smith said the company had grown revenue by a compound annual rate of 118% since it began commercialising its products in 2020.
"We remain confident of maintaining that strong record of growth, with revenue for the year to 31 March, 2026 (FY26) expected to range between $10m and $11m, representing growth of 25% to 37.5% on FY25."
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