CBA considers insurance buys: Citigroup
May 29, 2008
The Commonwealth Bank will seriously consider making a big acquisition in the general insurance space if one arose, a broker says.
Australia's Commonwealth Bank eyeing BankWest: report (Reuters)
Reuters - Commonwealth Bank of Australia (CBA) , the country's No. 2 bank by assets, may offer over A$6 billion ($5.2 billion) to British bank HBOS for its Australian unit BankWest, the Australian newspaper reported on Monday.
Commonwealth Bank hikes home loans
Commonwealth Bank has ramped up its benchmark mortgage rate by 0.14 per cent a week or so after the RBA said there was no need to lift official rates higher.
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 Aims To Buy Way To Top In...
Bank says it's in talks to acquire smaller rival St. George, making it biggest in country by market cap.
Westpac Aims To Buy Way To Top In...
Bank says it's in talks to acquire smaller rival St. George, making it biggest in country by market cap.
Margin Lenders Cap Funding to Babcock
Three margin lenders stopped funding purchases of Babcock & Brown shares after a sharp drop in the firm's market value.
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...
Westpac's issue of convertible shares...
Westpac's $600 million convertible preference share issue is the third from a major financial group in a month-and-a-half but it won't be the last.
Commonwealth Bank of Australia discusses buying ABN Amro branch
Commonwealth Bank of Australia Ltd., the country's largest lender, said Wednesday it has entered exclusive talks to buy the local arm of Dutch investment bank ABN Amro.
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.
Wesfarmers H1 profit up to new record
Wesfarmers' $20 billion acquisition of Coles Group has helped fill its coffers with a record interim profit.
Orica has firepower for acquisitions
Orica is looking for acquisitions to add to its explosives businesses, a day after announcing it will spin off its consumer products division.
07/22/08
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EU widens antitrust probe into BHP...
The European Commission on Friday widened its antitrust probe into the proposed acquisition of Rio Tinto Inc. by BHP Billiton Ltd., saying an initial investigation revealed...
Wesfarmers shares rebound after...
Wesfarmers shares rebound as retailer says its outlook remains positive.
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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Fortescue defies the sceptics
Twiggy Forrest has his sceptics but Fortescue is close to becoming the Third Force in the Pilbara. City Pacific, meanwhile, is faring less well.
05/07/08
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Commonwealth Bank half-year profit rises 8 percent, despite credit woes
Commonwealth Bank Of Australia said Wednesday its first half net profit rose 8 percent compared to the same period a year earlier, though volatility in global markets stemming from the U.S. subprime mortgage crisis weighed on earnings.
Westpac may have to boost $17.6 billion St George bid (Reuters)
Reuters - Westpac Banking Corp Ltd , which has bid $17.6 billion for St George Bank in the biggest banking takeover ever in Australia, is bracing for rival offers to emerge that could push the price tag even higher.
Westpac's ray of light
Westpac has so far managed to avoid big problem credit exposures, and should it successfully swallow St George, will become Australia's biggest bank.
Wesfarmers ends share offer
Wesfarmers has successfully completed the institutional leg of its $2.5 billion equity raising to help pay for the acquisition of the Coles supermarket chain.
Wesfarmers plans to raise $2.5 billion
Wesfarmers says it will sell new shares as it aims to raise $2.5 billion.
Westpac, CBA join $1.2b float party
Westpac and Commonwealth Bank will make close on $600 million after Visa's successful listing on the New York Stock Exchange.
Westpac, CBA to scrap paper statements
Commonwealth Bank has joined Westpac in giving its customers the opportunity to receive electronic bank statements instead of paper letters through the post.
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.