CBA profit expected to rise to $4.69b
August 12, 2008
Commonwealth Bank of Australia Ltd is expected to reveal a modest two per cent rise in annual profit.
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.
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 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 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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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 approaches St. George in...
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...
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.
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...