Westpac ups its rate
April 28, 2008
Westpac raised its lending rates by 0.10 percentage points today, following the lead of ANZ Bank and NAB.
Investors await surprises in Westpac earnings
Investors will be watching for surprises when Westpac releases its half year results, a week after ANZ Bank revealed nearly $1 billion in provisions against potential losses.
Santos dodges takeover talk
Santos says it is in the early stages of considering "various strategic initiative", in response to a query from the Australian Securities Exchange (ASX).
Babcock in Tricom recapitalisation
Investment bank Babcock & Brown says it has joined ANZ Banking Group in the recapitalisation of troubled stockbroking firm Tricom Equities.
04/08/08
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Fortescue chair loses $20m in Opes saga
Fortescue Metals Group chairman Herb Elliott appears to have lost more than half of his $38 million fortune after the Opes Prime collapse.
Westpac momentum tipped to continue
Analysts say Westpac Banking Corporation Ltd is a "safe haven" in the finance sector and are tipping its strong profit momentum to continue.
Babcock plunges further
Babcock & Brown, Australia's second-largest investment bank, plunged further, falling almost a third in early trading.
GPT operating profit up
GPT Group has reported a 14.5 per cent fall in annual earnings and says it expects to maintain distributions in 2008, given challenging market conditions.
02/27/08
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ASX over 2% lower at noon
The Australian stock market fell over three per cent following large falls on Wall Street last week and dragged down by local banks.
Australia's Westpac offers $14B for bank rival St. George
Westpac Banking Corp. said Monday it has approached rival St. George Bank Ltd. with a $14 billion takeover offer that could lead to the biggest shakeup of Australia's banking sector in years.
Westpac approaches St. George in major shakeup of Australian bank sector
Westpac Banking Corp. said Monday it has approached rival St. George Bank Ltd. with a 15 billion Australian dollars (US$14 billion; €9 billion) takeover offer that could be the biggest shakeup of Australia's bank sector in years.
Babcock & Brown forecasts 15% growth
Babcock & Brown has forecast annual profit growth of at least 15 per cent in 2008 after it posted a large rise in 2007 annual profit.
ASX buoyed by earnings results
The Australian share market closed firmly in the black as solid earnings results from Telstra, Qantas, Fairfax and other major companies.
02/21/08
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Crown casinos continue to expand in US
Casinos operator Crown is continuing to expand in the United States and says its Australian casinos are performing strongly.
Market dips as Tabcorp, Tatts slump
Australian shares fell 0.5%, as Tabcorp and Tatts Group tumble on the loss of a key market for their slot machines.
Westpac cash profit expected to rise
Westpac Banking Corporation is expected to sidestep the bad debt troubles faced by the ANZ Bank and report a healthy rise in first-half cash profit.
BHP Billiton raises hostile bid for...
AFP - BHP Billiton sweetened its hostile takeover bid for Rio Tinto on Wednesday by lifting its valuation of the mining giant to 147.4 billion dollars as it seeks to exploit a...
Red Wings reward Babcock for winning Stanley Cup (AP)
AP - Mike Babcock's new contract allows the oldest of his three children to graduate from the same high school she's attending. And if all goes well with the Detroit Red Wings over the next three years, Babcock's younger two kids likely will get the same opportunity.
Review: iASUS Concepts Mobile Amp
Like some other such devices, including Upbeat Audio’s Boosteroo Revolution, the pitch here is that you plug this in to the headphone port of your iPod, then turn your iPod down to a lower volume level, and use the external amp to boost the audio signal, resulting in lower iPod battery consumption and a higher maximum signal output to connected headphones. While this adds the inconvenience of dual battery charging and will be of little to no…
BHP Billiton raises hostile bid for...
AFP - BHP Billiton sweetened its hostile takeover bid for Rio Tinto on Wednesday by lifting its valuation of the mining giant to 147.4 billion dollars as it seeks to exploit a...
Orica to demerge consumer products
Orica Ltd plans to demerge its consumer products business into a separate company and raise up to $900 million through an entitlement offer.
ANZ Bank pipped in Hong Kong bank bid
China Merchants Bank pips ANZ Bank as the preferred bidder for Hong Kong's Wing Lung Bank.
05/23/08
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Wesfarmers shares up with rising success
Wesfarmers shares rose 1.8 per cent Monday after the company finalised part of a $2.5 billion equity raising and opened it to retail shareholders.
Westpac likely to outsource 3000 jobs
WESTPAC is expected to shift the work of up to 3000 back-room staff to overseas locations such as India over the next three years in an accelerated plan to cut costs being put...
Newcrest expands gold arc in Pacific
NEWCREST Mining is pursuing joint venture opportunities with PT Antam in Indonesia as part of its strategy of building a "Pacific arc" of gold projects.