Crisis? What crisis?
August 13, 2008
Australia's biggest banks are breezing through the biggest crisis in financial markets in decades ... how is this so?
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.
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.
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.
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.
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.
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.
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.
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
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 Westpac bids $17.6...
Reuters - Westpac Banking Corp Ltd
launched a $17.6 billion all-share bid for smaller rival St
George Bank Ltd in a tie-up that would create
Australia's biggest bank by...
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.
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.
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.
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.
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.
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.
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.
CSL to acquire Talecris for $3.4b
Blood products and vaccine firm CSL will acquire Talecris Biotherapeutics Holdings for $3.48 billion to boost its presence in the plasma therapeutics market.
08/13/08
Similar news about Acquisition
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.