Commonwealth Bank of Australia discusses buying ABN Amro branch
July 23, 2008
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 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.
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.
Australia's CBA Takes Flyer On ABN...
Following National Bank of Australia's withdrawal from the bidding process, rival Commonwealth Bank enters into exclusive negotiations with Royal Bank of Scotland.
ASX high at noon as Wall St soars
The Australian stock market was up at noon as News Corporation Ltd reported robust fourth-quarter and full-year results.
08/06/08
Similar news about ANZ Bank
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.
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.
ASX marginally in the red
The ASX was marginally in the red at noon, with gold stocks heavily sold off for the second consecutive day on the back of a falling gold price.
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.
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.
CBA rules out bid for St George
Commonwealth Bank has no intention of making a rival bid for St George, but won't rule out a bid for ABN Amro in Australia.
ASX closes sharply lower
The Australian share market closed sharply lower, losing two per cent as weaker financial and resource stocks added to the negative direction from Wall Street.
Babcock Wins Reprieve From Lenders
Babcock & Brown's lenders removed a debt clause and waived their right to review its ability to repay $2.7 billion in loans.
ASX lower led by financials, resources
The Australian share market closed more than two per cent lower, dragged down by the resource and financial sectors and a weak lead from Wall Street overnight.
Babcock CEO, Chairman Step Down
Babcock & Brown unveiled a major overhaul of its board and management but failed to stem the drop in its share price due to continued concerns about its financial position.
ASX closes lower after financials fall
The Australian share market closed lower after falls from the financial sector, with Babcock & Brown suffering a heavy loss amid a drop in interim profit.
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.
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.
Babcock & Brown shares dive on fee...
Babcock & Brown, the worst- performing stock on the MSCI Asia-Pacific Index, fell on concerns that credit market turmoil may cut proceeds from asset sales to reduce debt.
Fairfax discusses margin call risk
THE Fairfax Media board has discussed the implications of a margin loan over 159 million shares held by the director John B. Fairfax, but yesterday made no announcement to 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.
Australian merchant bank Babcock and...
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...
Babcock plunges further
Babcock & Brown, Australia's second-largest investment bank, plunged further, falling almost a third in early trading.
Red Wings reward Babcock for winning...
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...