Good afternoon,

Mineral Resources boss Chris Ellison is being shown the door at the company he founded after a damning investigation into his role in a tax evasion scheme and other dubious business dealings.

Meanwhile, the AFP has raided PwC Australia's Sydney offices as it ramps up its investigation into the consulting giant's disclosure of confidential Treasury information.

And Westpac is promising a $1bn share buyback after posting full-year profits of $7bn, with CEO Peter King saying the Big Four bank sees brighter times ahead for the domestic economy.