Briefs: Macquarie updates guidance, Nectar expands into WA, Quakers to pull funds from the Big Four

Macquarie Group has upgraded its earning outlook, with a statement yesterday saying its expects full-year earnings to be up between ten and 20 per cent on the $1.3 billion it earned in the year to March last year. Macquarie said improved trading conditions and the fall in the Australian dollar would give earnings a boost. Previous guidance had said only that 2015 earnings would "be up" on the previous year.
Nectar Mortgages has hired Lee Middleton as regional manager for Western Australia. Middleton is a former principal of MAD Mortgage & Finance. Nectar chief executive, Paul Newell, founded the mortgage aggregator in January this year.
Quakers Australia plans to move its corporate funds away from the Big Four banks, citing ethical concerns. Quakers presiding clerk Julian Robertson told AAP: "We have a problem with the investment policies of the larger banks in Australia, where our money is being used for financing some of these companies. We are particularly worried about carbon-intensive industries and some others which do not have the ethical standards that we would like. We will remove all corporate funds from the four major banks and also Macquarie and St George and we are also calling on others to do the same."