Dispatches: new boss for St George

Westpac has appointed BankSA boss Rob Chapman to replace Greg Bartlett as chief executive of St George Bank. (The Australian)

Australia's unemployment rate rose to 5.3 per cent in July amid conflicting signals about the strength of the economy and as the economy shed full-time positions. (The Age)

Westpac wiped nearly $2.5bn from the value of Commonwealth Bank yesterday after a faltering second-half performance took the gloss off a record $6.1bn annual profit. (Sydney Morning Herald)

A damages claim worth more than $2bn against Axa Asia Pacific is expected to be lodged with the Victorian Supreme Court next week. This action is being taken by two aggrieved policyholders, after a partially successful court battle against the insurance company last year. (The Australian)