the commonwealth bank of australia lost the bank records belonging to almost 20 million people but chosell them about it. the biggest lenders said the incident happened two years ago. not enough transparency. what happened? it is just not enough transparency. what happened? it isjust the australian edition of banks behaving badly. what happened with commonwealth bank is the admitted to losing two magnetic tapes in may 2016 which contained 20 million personal accou nts contained 20 million personal accounts and information related to that, like customer names. however, commonwealth bank said they did not wa nt to commonwealth bank said they did not want to unnecessarily alarm customers and passwords were not taken by third parties. however, this has caused a furore in australia due to other scandals of things like money laundering. there isa things like money laundering. there is a lot of hot water at the moment for them. this week, the regulator in australia had strong words for commonwealth bank saying a wide sense of complacency goes from the top—down they were desensitised. ultimately

. >> new report commonwealth bank ofancial success ceptions management. the reregulator identified top down inrom the investigation ordered off cba sued. elsewhere cash profit in the first half and expect difficult trading conditions ahead. >> much more competitive. little bit ofing strength and certain parts of the economy. we're watching

an australian regulator has told commonwealth bank it needs to hold an extra $750 million in capital scathing report into how the bank's governance allowed money laundering to flourish. it says the bank was complacent with risk and didn't learn from its mistakes. the bank says it will implement all the report's recommendations. thousands of software developers from all over the world are converging on sanjose, where facebook‘s f8 conference opens today. they have had their access to user data severely curtailed as the company tries to limit the fallout from the ongoing privacy scandal. now they want facebook boss, mark zuckerberg, to reassure them things will soon be back on an even keel. our technology correspondent, rory cellan—jones, reports. ina shared in a shared office based in san francisco, ben is wondering what the next few days will tell him about facebook‘s feature. has software firm helps retailers reach customers through the messaging service but like thousands of other developers heading to the conference, he is worried. i would say anxiety is a very good word to describ

>> new report commonwealth bank ofancial success ceptions management. the reregulator identified top down inrom the investigation ordered off cba sued. elsewhere cash profit in the first half and expect difficult trading conditions ahead. >> much more competitive. little bit ofing strength and certain parts of the economy. closely.ching proposed $26 million .ake over by t-mobile. department of for justice. 50-50.alyst only give korea said its decided to the south.with jong-un made his decision last week. shout. minutes blond the -- itis pretty muted session. across asia are closedder the may -- closed for may 1st labor day holiday. what iske a look at trading today. sydney isk at how pretty much fluctuating. august -- the central bank thatted to hold rates at 1.5% low for 20th straight meeting. taking a look at japanese are come back for holiday. this is bloomberg. >> did you always know you wanted to run if i fell >> i never felt pressure to. >> what do you think investors mostly want? >> everything. >> was it complicated growing up father and family b

the commonwealth bank of australia has been forced to reveal it lost the records of almost 20 millionto inform its customers. following a report by buzzfeed, the bank — australia's largest — admitted it had lost two magnetic tapes containing 15 years of data on customer names, addresses and account numbers, but no pins or passwords. spotify shares dropped as much as 9% after the music streaming giant's results disappointed investors. in its first set of earnings since it listed on the new york stock exchange, spotify said revenue rose 26% to $1.36 billion in the three months of the year. just as a really quickly, asian stocks are mixed. the federal reserve said inflation is close to its target and of course kept rates as they are in the us. that is your business briefing. polling stations will open at 7 o'clock this morning for voting in local elections across england, in the biggest test of public opinion since the general election 11 months ago. most councils are counting votes overnight, but others will declare results during the day on friday. our political correspondent jonathan

commonwealth bank said it discovered the loss of two magnetic tapes holding the banking information in chose not to make that information public at the time. liverpool have reached the final of the champions league despite losing to roma at the olympic stadium in the italian capital. the english premier league side lost 4—2 in the second leg of their semi—final, but they go through on an aggregate score of seven goals to six. liverpool will meet real madrid in the final later this month. an endangered animal, a jerboa, has been found in north—west china. the jerboa is a rare desert rodent which is on the red list of threatened species. this one had an injured leg and was rescued after a villager spotted it in gansu province. the animal has been treated, and will be released back into its natural habitat once it recovers. the british company at the centre of the facebook privacy scandal, cambridge analytica, is to file for insolvency in the uk and the us. the firm, which has denied using data improperly obtained from facebook to make targeted political adverts, said its business was "no

the commonwealth bank of australia was taken to court by regulators in january after allegedly manipulatingd to set the price of bonds and loans. the bank admitted to "unconscionable" behaviour and agreed to overhaul its compliance processes. just a thought, if you work in a hair salon and you were on reception, can you imagine getting phone calls from you know, voice assisted machines. no, i couldn't. what if you ask them a question, do you need highlights? it would be one—sided. how far can it go? let's go to our website. greggs salad? do you think companies and their reputation is based on pretty unhealthy eating, tasty but unhealthy. you mean like sausage rolls, pasties and pies? exactly. would you go to greggs for a salad? mcdonald's has done it. i would go for a mcdonald's has done it. i would go fora dirty mcdonald's has done it. i would go for a dirty big mac in mcdonald's. greggs says its profits will hardly move in 2018. maybe the salads will do something to change that. i doubt it. let's talk about argentina. argentina holds talks with the imf today in washington to try to secure

the commonwealth bank of australia has been forced to reveal it lost the records of almost 20 millionto inform its customers. following a report by buzzfeed, australia's largest bank admitted it had lost two magnetic tapes containing 15 years of data on customer names, addresses and account numbers, but no pin numbers or passwords. spotify shares have dropped as much as 9% after the music—streaming giant's results disappointed investors. in its first set of earnings since it listed on the new york stock exchange, spotify said revenue rose 26% to $1.3 billion in the first three months of the year. revenues up 26%, still disappoints investors! and yet you have got tesla not making money yet... people willing to stick with it for a while yet. absolutely. two big stories we're following out of asia today. in a moment, we'll be speaking to sarah toms in singapore about a huge tech ipo. but first to china, as us treasury secretary steven mnuchin, along with a trade delegation, is about to begin talks with officials in beijing. 0ur china correspondent, robin brant, is in shanghai. tea m team

commonwealth bank said it discovered the loss of two magnetic tapes holding the banking information information public at the time. now, liverpool have reached the final of the champions league, despite losing to roma at the olympic stadium in the italian capital. the english premier league side lost 4—2 in the second leg of their semi—final, but they go through on an aggregate score of seven goals to six. it means that liverpool will meet real madrid in the final later this month. and an endangered animal, a jerboa, has been found in china. this one had an injured leg and was rescued after a villager spotted it in qingyang city, in northwest china's gansu's province. it'll be released into its natural habitat once it recovers. taiwan has lost yet another diplomatic friend in the world this week, as the dominican republic announced it was switching allegiance to china. china and taiwan have been ruled separately since the end of the chinese civil war in 1949, and both governments in beijing and taipei insist that countries cannot recognise both of them. so where are the remaining frien

an australian regulator has told commonwealth bank it needs to hold an extra $750 million in capital hing report into how the bank's governance allowed money laundering to flourish. it says the bank was complacent with risk and didn't learn from its mistakes. the bank says it will implement all the report's recommendations. japanese electronics giant panasonic has agreed to pay a fine of over $280 million to resolve charges brought under the us foreign corrupt practices act. the us said the firm hired consultants for improper purposes and concealed payments of more than $7 million to at least 13 people around asia. katie silver is in singapore with the details. nice to see you. panasonic definitely in the firing line. that is right. it basically concerns a subsidiary known as panasonic avionics doing the in—flight entertainment and in a statement, they said they are pleased to have resolved the investigations. this goes back to crimes from 2007 to 2016, and they are accused of employing consultants but they never appear to actually do any work for them, for example, in the middle east

commonwealth bank. >> the very latest on the markets.egrets as to president trump's decision to pull out of iran's nuclear program. the news that america will reinstate financial sanctions on the islamic republic has sent oil above $70 a barrel this morning. bring in our managing editor for the international government in new york. the germans are coming up this morning. macron has come out with his tweet. germans are saying europe should continue to stick together. your immediate take is this is the most hawkish of breaks. >> in the sense it was a clean break. we could have seen trump be less clear with what he wanted. we could have seen him stay within the framework of the jcpoa for conflict resolution. instead, sanctions are back on immediately. 180 sanctions in 180 days. it sends a very direct message to iran. you were talking about macron and merkel. they have to quickly find a way to save the steel, -- save this deal, keep it from falling apart from within. that is why you have the message from them last night. dovish, sayingly it

under they face a bleaker future following a scathing report released on tuesday that found cba commonwealth bankhe top down when it came to risks. the ongoing inquiry is likely to impact of the confidence, but has not affected the underlined soundness of the banking system to date. betty: we will leave it there. -- tech is the big focus of the week. accompanying news and events. facebook and snap are breaking parts. ramy inocencio has the details. ramy: facebook wants to get into the dating game, the online dating game. we saw the plunge about 22% worldbecause match is the 's biggest online dating site. facebook's how business would actually play y, yout is opt in onl can't send photos, it is only text. in regards to who you can reach out to, if you are not a friend, you can talk to them. if you are a friend, you don't want to be paired up with one of your friends. on interesting thing is the privacy issue comes up, the security issue comes up in light of what has been happening. mark zuckerberg did have this to say at his conference. >> it will be in the facebook app, but it is optional. you ca

the chief financial officer of australia's biggest bank — commonwealth — has resigned. as the bank is under huge pressure from a public inquiry into widespread wrong doing in australia's banking sector. says its abandoning the $6bn merger with japan's fujifilm that was announced in january. xerox says that fuji hasn't stuck to the terms of the deal asian shares rose to near two—month highs on hopes us—china trade tensions were thawing after trump pledged to help zte "get back into business, fast" ahead of a second round of trade talks between officials this week. germany's dax — which is very exposed to china and trade is up. i think ithinki i thinki millionjobs in germany depend on iran. as for oil us plans to reintroduce sanctions against iran have stoked anxiety in the middle east. iran pumps about 4% of the world's oil, and the latest development has sent oil prices to near multi—year highs. crude slipped 2a cents to $70.46 a barrel and brent was off 39 cents at $76.73. and joe miller has the details about what's ahead on wall street today. after a welcome few days

he's pled not guilty to money laundering and bank fraud in washington and in the commonwealth of virginia. his virginia trial set to begin 48 days from now. meanwhile, mueller's team asked a judge to begin the sentencing process for former trump campaign adviser george papadopoulos today who pleaded guilty in october of lying to the fbi. this is notable, joyce vance wrote on twitter today, quote, this likely means mueller won't use papadopoulos as a trial witness. meanwhile, mueller's team asked a judge to begin the sentencing process for former trump campaign adviser george papadopoulos today who pleaded guilty in october of lying to the fbi. this is notable, joyce vance wrote on twitter today, quote, this likely means mueller won't use papadopoulos as a trial witness. whether that's because he won't be indicting anything he could be useful for or because the case is tight without him, and/or because there is an issue with putting papadopoulos on the witness stand isn't clear yet. however, here to talk about it, the aforementioned matt apouzzo and daniel goldman, former assistant u.s. at

commonwealth of virginia. the charges range from tax evasion to bank fraud. manafort has pleaded notably not guilty.yohai was once a manafort business partner, was divorced from manafort's daughter last august. both reuters and nbc news

commonwealth of virginia. the charges range from tax evasion to bank fraud. manafort has pleaded notably not guilty. he's slated to be tried later this year. jeffrey yohai was once a manafort business partner, was divorced from manafort's daughter last august. both reuters and nbc news are reporting mueller has been focusing on yohai for the past six months, and reuters says mueller's team has already interviewed him. meanwhile, there are also developments in robert mueller's fight to keep the judge in paul manafort's virginia case from tossing out some of the charges. today mueller's team gave the judge a full, unedited version of the justice department memo that lays out the scope of this inquiry and what crimes he is authorized to pursue. as we mentioned, the president weighed in today on twitter on the russia inquiry. here it is. congratulations, america. we are now into the second year of the greatest witch hunt in american history. there is still no collusion and no obstruction. a few hours later, there was this. wow, word seems to be coming out that the obama fbi -- we switch to caps here --

as i said it in the statement i put out from the foreign and commonwealth office yesterday, the bias in gaza and the west bankbeen clear that the united kingdom supports the palestinians right to peaceful protest. it is deplorable but we'll that extremist elements had been exporting these protest for their own violent purposes. we will not waver from our support for israel's right to defend its borders, but the large volume of life i is extremely concerning. we continue to implore israel to show greater restraint. the united kingdom remains committed toa the united kingdom remains committed to a two state solution with jerusalem as a shared capital. all sides now need to show real leadership and courage, promote calm, refrain from the inflaming tensions further and show with the dude urgency that a part of a two state solution is through negotiation and peace. we agree with united nations secretary general public envoy that the situation is desperate and deteriorating. the international community must step up efforts. we call on the un special representative of the secretary general to bring forward proposals