James Thornhill

Sydney

Editor @WestpacWire. News, views and insights from Australia's oldest bank. Former newswire journo with Bloomberg/Reuters, also ex-Citi.

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Articles

SCAM SPOT: Hobbying investors are a rich target for scammers

1 week ago | westpac.com.au | Ben Young |James Thornhill |Marina Gainulina |Sarah Williamson

In some relationships, and particularly in the older generations, it could be that the man manages finances. But most of us make better decisions when we use someone as a sounding board. Everyone of every sex should independently have a good sense of how their money is being invested. Ask what is being invested in, and how they know for sure it is who they think it is. But there is another factor.
Westpac backs regional Australia with new service centres

1 week ago | westpac.com.au | Ben Young |James Thornhill |Marina Gainulina |Sarah Williamson

In a move to bolster support for regional Australia, Westpac has announced the establishment of three new Regional Service Centres in Moree (NSW), Leongatha (VIC), and Smithton (TAS). CEO Anthony Miller made the announcement during a trip to Moree in northern NSW, describing regional Australia as the “lifeblood of the country”. “Regional Australia is pivotal to the nation’s economy. It’s home to a third of the population and contributes 30% to GDP.
Growth forecasts lower despite Australia’s trade advantages

1 week ago | westpac.com.au | Ben Young |James Thornhill |Marina Gainulina |Sarah Williamson

Westpac Economics has trimmed its growth forecast for the Australian economy in response to recent shocks to markets following Donald Trump’s “liberation day” tariffs. Citing a weaker external environment and slower recovery in consumer demand, the team now anticipates a growth rate of 1.9 per cent this year, down from the previous forecast of 2.2 per cent.
Look through the tariff turmoil, says Westpac economist

2 weeks ago | westpac.com.au | Ben Young |James Thornhill |Marina Gainulina |Sarah Williamson

Australia’s economy remains well positioned to grow near trend this year and next despite short term market volatility following US President Donald Trump’s “liberation day”. That’s the view of Westpac head of international economics Elliot Clarke who says Donald Trump’s recent tariffs are unlikely to have a material adverse impact on Australian growth and inflation through trade. Westpac Economics has also maintained their Australian cash rate forecasts despite the tariffs.
Westpac doubles commitment to female entrepreneurship with $1 billion fund

3 weeks ago | westpac.com.au | Ben Young |James Thornhill |Marina Gainulina |Sarah Williamson

Amongst many inspiring examples of the female-founded businesses that have already benefitted from Westpac's fund is Dodgy or Not?, an innovative gamified learning platform designed to enhance digital literacy and scam detection. Co-founded by Stacey Edmonds, a former teacher and Deloitte partner, the game uses real scam data and behavioural science to create an engaging educational experience. With funding from Westpac, Dodgy or Not?
LUCI’S CALL: Cost-of-living dominates pre-election budget

1 month ago | westpac.com.au | Ben Young |James Thornhill |Marina Gainulina |Sarah Williamson

Cost-of-living was the big theme in Treasurer Jim Chalmers’ budget – his last before a federal election due in May. We already knew that the electricity rebates introduced last year were going to be extended by six months, but the big surprise was the announcement of additional tax cuts. The bottom tax bracket will be lowered from 16 per cent to 15 per cent in 2026 and to 14 per cent in 2027. While it’s a modest adjustment, it will still make a bit of a difference to many lower income households.
New Westpac technology to lock out scammers

1 month ago | westpac.com.au | Ben Young |James Thornhill |Marina Gainulina |Sarah Williamson

Australians lost over $2 billion to scams last year according to the latest report from the and while that number is decreasing thanks to greater awareness and new technologies, the sophistication of scammers is not slowing down. In its latest move to stop scammers, Westpac announced it will introduce SafeBlock, a new feature that allows customers to block their accounts and cards in an instant via the app or online banking.
Westpac unveils investment product aimed at improving social outcomes

1 month ago | westpac.com.au | Ben Young |James Thornhill |Marina Gainulina |Sarah Williamson

Westpac has introduced Australia’s first Social Tailored Deposit, a product designed for customers looking to make a positive social impact with their investments. The Social Tailored Deposit offers a medium to long term investment (1-5 years) with a minimum transaction amount of $1 million. Funds from the deposits will be directed to certified initiatives that promote access to essential services, affordable housing, or accelerate socio-economic advancement and empowerment.
Scam Spot – Dodging the Disaster Chasers

1 month ago | westpac.com.au | Ben Young |James Thornhill |Marina Gainulina |Sarah Williamson

When a natural disaster strikes, things can move pretty fast. People are anxious and looking for help, and this can sometimes lead them to make quick decisions without the usual time and care they might normally take. Unfortunately, that is a perfect combination for scams. Welcome to Scam Spot. Scams during storms, bushfires and other natural disasters can come in a number of different forms:1. Fake charities.
Uncertain world creates risk and opportunity for Australia: Miller

1 month ago | westpac.com.au | Ben Young |James Thornhill |Marina Gainulina |Sarah Williamson

Westpac CEO Anthony Miller is clear eyed about the risks to Australia from a period of global uncertainty and volatility ushered in by the Trump Presidency. He’s also alive to the opportunities.