The write-down on brands such as Just Jeans, Jay Jays and Portmans sent Myer to a full-year loss, with its shares slumping 26% yesterday.
The move comes after the bank initiated two internal inquiries into the affair last week.
Weak demand for EVs and a glut of Indonesian nickel has made BHP’s operations unviable.
The bank reacted to reports of an ASIC probe by mandating two law firms to look at the division's culture.
It has been a busy day for the automotive aftermarket supplier, which has also announced a new CEO and chair.
Banks are reducing their presence in the region due to cost and risk, says the ANZ chief.
A bill aiming to remove red tape around superannuation and financial advice had worried industry that poor wording would have opposite effect.
Gas levels dropped so low in Australia’s east coast the market operator issued an imminent threat notice.
The report says the regulator is ineffective in launching prosecutions and diverts resources into defending its reputation.
International eduction is worth more than A$36b annually to the Australian economy, but some blame foreign students for the housing crisis.