Britain's HBOS sells 2 Australian units
October 8, 2008
Australia's largest bank, Commonwealth Bank of Australia Ltd., said Wednesday it had agreed to buy Bank of Western Australia Limited and St. Andrew's Australia from troubled British bank HBOS for $1.4 billion.
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.
BHP Billiton abandons bid for Rio Tinto
BHP Billiton Ltd., the world's biggest mining company, abandoned a hostile $68 billion takeover bid for rival Rio Tinto Ltd., blaming the global economic downturn and plunging...
Rio Tinto says it is comfortable with...
Mining giant Rio Tinto on Wednesday sought to allay concerns about its debt levels a day after bigger rival BHP Billiton abandoned a takeover bid for that reason, sending Rio's...
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 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.
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.
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. 
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.
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 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.
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Orica has firepower for acquisitions
Orica is looking for acquisitions to add to its explosives businesses, a day after announcing it will spin off its consumer products division.
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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 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.
Australia's St. George agrees to Westpac takeover
St. George Bank Ltd., Australia's fifth-largest bank, agreed to a revised 17.3 billion Australian dollar ($14.4 billion) takeover proposal by larger rival Westpac Banking Corp. on Monday, in what would be the biggest banking acquisition in Australian history.
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.
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 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.
Rio Tinto posts record half-year profit
Rio Tinto Ltd., the world's third-largest mining company, said Tuesday that half-year profit more than doubled to a record on strong demand from China for iron ore and other...
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.
Australia approves Chinalco's stake...
Australia has approved Aluminum Corp. of China Ltd.'s stake in miner and takeover target Rio Tinto Ltd., Treasurer Wayne Swan said Sunday.
Orica set for demerger
THE chemicals maker Orica last night revealed plans to raise $900 million and demerge its paint division as it focuses on expanding its booming mining services business.
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