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Daily Dispatches: Govt plans share scheme U-turn

Concessions by the Federal Government are expected to revive employee share schemes that were put at risk in the May Budget. The Business Council of Australia said last night that “most employee share plans should remain workable” after the changes announced late yesterday. (Herald Sun)

Litigation over Bank of Queensland’s involvement with the failed financier Storm Financial could substantially eat into the bank’s profit just as losses from bad debts peak. (Daily Telegraph)

Westpac has axed its package of shareholders benefits that offered discounted deals to investors, claiming it has been too expensive to run and has suffered from a low take-up. (Business Day)

CBA says it still cannot pinpoint the source of a presumed cyber attack blamed for preventing customers from accessing their online accounts, highlighting a security risk expected to become more common in coming years. (Sydney Morning Herald)

The health insurer NIB says it increased its number of policy-holders by 5.17 per cent during the 2009 fiscal year, with much of the growth coming late in the year. (The Age)

US bankers are back in the money. (The Australian)

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