Westpac Aims To Buy Way To Top In Australia
May 12, 2008
Bank says it's in talks to acquire smaller rival St. George, making it biggest in country by market cap.
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).
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.
Babcock plunges further
Babcock & Brown, Australia's second-largest investment bank, plunged further, falling almost a third in early trading.
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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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.
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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Westpac Banking Corporation and St...
Westpac Banking Corporation, Australia's oldest company, is in talks with St
George, a former building society, about merging to form a A$64 billion ($£31
billion) institution.
Investors await surprises in Westpac...
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.
04/30/08
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Fairfax moves to unwind margin loan
THE Fairfax Media director John B. Fairfax has unwound a margin loan over 159 million of the publisher's shares, which was believed to have prompted short-sellers to target the stock over recent weeks.
Australian merchant bank Babcock and Brown faces lenders
Babcock & Brown Ltd., Australia's second-largest merchant bank that last week lost half its market value, is accelerating an examination of its listed funds as it faces its bankers over a potential review of its 2.8 billion Australian dollars (US$2.7 billion) corporate debt facility.
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.
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 offer 'in the ball park'
Most analysts say Westpac's offer of $33.10 for each St George share is fair, but some are still hoping for more.
Australia's Westpac bids $17.6...
Reuters - Westpac Banking Corp Ltd
launched a $17.6 billion all-share bid for smaller rival St
George Bank Ltd in a tie-up that would create
Australia's biggest bank by...
BHP and Rio Tinto lead market higher
The Australian sharemarket closed higher yesterday, boosted by strong rises in global miners BHP Billiton and Rio Tinto.
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.
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…
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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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.
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...
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.
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.
St. George agrees to Westpac takeover
Westpac Banking Corp. and smaller rival St. George agreed to a takeover deal Tuesday worth 18.6 billion Australian dollars ($17.5 billion) that would create Australia's biggest...