Banks fight over Bill Express
July 11, 2008
Australia's biggest banks are fighting over the remains of the failed Bill Express empire.
Suncorp can't explain share price surge
The Australian Securities Exchange has issued a "please explain" to Queensland-based banker and insurer Suncorp Metway over the sudden surge in its share price.
Suncorp in the dark over share price spike
The Australian Securities Exchange has issued a ''please explain'' to Queensland-based banker and insurer Suncorp Metway Ltd over the sudden surge in its share price.
Stormy times at Suncorp
The storms in the weather and the markets have cost Suncorp some $800 million and job cuts loom.
08/04/08
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Suncorp raids kitty for payout
Suncorp will dip into its cash reserves to pay a flat final dividend, after warning that its full-year net profit will fall as much as 50 per cent.
Suncorp bank sale unlikely: Merrill
A sale of Suncorp's bank is unlikely, despite mounting funding challenges, because the firm sees banking as its central business, Merrill Lynch says.
Suncorp gets thumbs up from S&P
Suncorp lifted some of the gloom surrounding insurers, garnering support from S&P for its $8b acquisition of Promina.
07/18/08
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Bleak forecast for Suncorp
Storms in the weather and in the markets have cost Suncorp about $800 million ... and there could be worse to come.
08/04/08
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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.
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.
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.
St George in Wonderland
We are invited to believe that the credit crisis is pure chimera and St George is racking up earnings growth of 25% in the second half.
CBA considers insurance buys: Citigroup
The Commonwealth Bank will seriously consider making a big acquisition in the general insurance space if one arose, a broker says.
Mega-bank in the making
Westpac enters merger talks with St George Bank to create Australia's largest home lending and wealth management provider.
BankWest quiet on sale rumours
BankWest refuses to deny speculation that its British parent is considering selling it.
Banks lead way as shares climb
The Australian sharemarket closed higher yesterday as Westpac's proposed takeover of St George enlivened the banking and financial services sector.
Babcock seeks debt reprieve
Babcock & Brown will seek a reprieve from its bankers over the review of a $2.8 billion debt facility that was triggered by the collapse in its share price.
Westpac Banking Corporation and St George banks in merger talks
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.
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.
Policy makes St George bid 'more likely'
The renewed commitment to a policy that prevents Australia's top four banks from merging makes a counterbid for St George Bank more likely, an analyst said.
Stocks to watch
Stocks of interest on the Australian Stock Exchange today.
St George to recommend Westpac takeover
St George Bank's board will recommend to its shareholders Westpac Banking Corporation's $19b takeover after the two lenders signed an implementation agreement.
Creating nation's biggest bank will...
THE $700 million price tag attached to the merger of Westpac and St George banks is expected to be met by stripping as much as a quarter of St George's cost base from the...
Stocks to watch
Stocks of interest on the Australian stock exchange at today.
Westpac says Gail Kelly a 'great asset'
Westpac Banking Corp chairman Ted Evans says CEO Gail Kelly is a "great asset" as the company attempts to buy rival St George Bank.