Mixed results for big three caught in the storm
August 17, 2008
THE combined full-year net profits of the country's three largest listed general insurers will struggle to get above $2.3 billion for 2008 in what has turned out to be the worst period for earnings growth for five years.
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.
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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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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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.
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.
Another internet party would not be excessive
INVESTORS aren't betting on a vast array of bids to be placed on the table for a national broadband network when the tender process opens early next month. In fact, some are struggling to envisage anyone other than Telstra or the Optus-led G9 consortium placing credible proposals before the Federal Government's expert panel.
Stocks to watch
Stocks of interest on the Australian Stock Exchange today.
QBE's big hit on IAG
Michael Hawker, the former Wallaby and chief executive of IAG has been crash-tackled by QBE's Frank O'Halloran with a generous takeover bid.
Banks fight over Bill Express
Australia's biggest banks are fighting over the remains of the failed Bill Express empire.
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.
BankWest quiet on sale rumours
BankWest refuses to deny speculation that its British parent is considering selling it.
Never rains but it pours if you're an...
The forecast is worrying for insurance executives as stormy weather returns.
Do something - blame the bear
One of my colleagues picked up the phone this week with the line, "Hello ... City Morgue." And that's what it's like in a broking firm. Booming when the market booms and grateful for an Olympic distraction when it goes bust. We are in a cyclical business. The odds rule.
Mirvac stops redemptions on three mortgage funds
Mirvac Group, an Australian real estate investment trust, stopped redemptions for three mortgage funds holding more than $243 million, as investors seek to pull out of property assets amid the global credit crisis.
IAG says still in dispute over NTI stake
IAG says it is still in dispute with rival Suncorp Metway over the acquisition of the 50 per cent of truck insurer NTI that it does not already own.
02/29/08
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$A tipped to drop to US 0.85c in months
The Australian dollar may fall seven per cent in the next two months as commodity prices weaken and global equities decline.
Banks pull shares down
The Australian share market was lower in early afternoon trading, as falls in the banking outweighed gains among the big miners.
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.
Shares fall to 18 month low
Shares fall 1.3% to an 18 month low, as fears of a US recession linger.
Stocks to watch
Stocks of interest of the Australian Stock Exchange today.
Stock market ends lower
The Australian share market finished in negative territory for the first time this week, with the banks weighing down the bourse.