Tax breaks for savers will cut interest rates
August 8, 2008
TAX breaks for investors in term deposits and interest-earning savings accounts are part of a bold proposal from the banks to boost domestic savings.
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.
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.
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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Westpac expect 8% cash earnings growth
Westpac Banking Corporation says it is on track to deliver 2008 cash earnings growth of between six and eight per cent.
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
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Westpac ups its rate
Westpac raised its lending rates by 0.10 percentage points today, following the lead of ANZ Bank and NAB.
04/28/08
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Gloomy outlook for commodities
Commodities prices may drop faster next year, pressured by slumping global demand and a strengthening US dollar, according to ANZ Bank.
08/20/08
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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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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.
ANZ says provisions seen rising to A$1.2 bln in H2 (Reuters)
Reuters - ANZ bank , Australia's third-biggest lender, issued a profit warning on Monday, forecasting more than $1 billion in bad debt charges, as the global credit crisis started to hurt the country's previously buoyant banks.
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.
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 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.
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.
Qantas passenger revenues up 4.3%
Qantas says its May group passenger numbers increased by 3.9 per cent over the previous year.
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.
Transurban toll revenue jumps
Toll road operator Transurban has reported an increase in annual revenue from tolls and fees on its roads in Australia and the United States, helped by higher traffic volumes and toll increases.
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.
Transurban tolls and fees pay off
Toll road operator Transurban Group has reported an increase in annual revenue from tolls and fees on its roads in Australia and the United States.
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 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 beats gloom
WESTPAC yesterday ruled out any need to ration lending in the global credit crisis, revealing that it had so far escaped the worst of the domestic economic slowdown.
Telstra to outdo profit guidance
Telstra is expected to do better than its guidance when it reveals its annual profit results this week, as it increases revenue from its Next G mobile services.
ANZ shares plunge 9%
Investors have hammered ANZ Bank after it flagged $1.2 billion in bad debt provisions for the 2008 second half.