The ASX 200 (Index: ^AXJO) (ASX: XJO) was eventful again this week. Here are four big stories you may have missed that affected businesses in the ASX 200 index:
Westpac Banking Corp (ASX: WBC)
The bad news continued for the big four ASX bank after recent news of the AUSTRAC investigation into transfers that were not reported properly.
This week it was announced that APRA would be increasing Westpac’s operational risk capital requirement by $500 million.
On top of that, Westpac announced that it had been served with a class action on behalf of shareholders who had acquired Westpac shares between 16 December 2013 and 19 November 2019.
National Australia Bank Ltd (ASX: NAB)
There was some more bad news for NAB as well.
ASIC is taking civil legal action against NAB for the fee for no service scandal that was covered extensively during the royal commission.
Technically NAB could face a maximum penalty as high as $10 billion because of how many times the law was broken.
It’s unlikely that the fine will be close to $10 billion, but the penalty comes on top of the remediation for NAB.
Service Stream Limited (ASX: SSM)
Service Stream was one of biggest winners this week, its share price rose by 14% this over the week largely thanks to a contract win.
One of its subsidiaries, Comdain Infrastructure, is a 30% part of a consortium which has been awarded a ten-year agreement by Sydney Water Corporation.
The consortium will provide Sydney Water with a “TOTEX” asset management service covering the design, construction, maintenance and facility management of all treatment and network assets in its Southern Region.
Sydney Airport Holdings Pty Ltd (ASX: SYD)
The airport operator released its monthly traffic numbers this week.
The monthly numbers showed that domestic passengers were down 0.3% and international passengers went up 0.3%. But, the overall passenger numbers dropped 0.1% because domestic passengers still make up a large portion of passengers.
Looking at the year to date numbers, domestic passengers were down 0.7% and international passengers were up 1.2%. Thankfully, total passengers are up 0.1%.
The post 4 of the biggest news pieces from the ASX200 this week appeared first on Motley Fool Australia.
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Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Sydney Airport Holdings Limited. The Motley Fool Australia owns shares of National Australia Bank Limited. The Motley Fool Australia has recommended Service Stream Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
The Motley Fool's purpose is to help the world invest, better. Click here now for your free subscription to Take Stock, The Motley Fool's free investing newsletter. Packed with stock ideas and investing advice, it is essential reading for anyone looking to build and grow their wealth in the years ahead. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson. 2019