Analyst urges banks to raise rates
Australia's top four banks could lose a combined $500 million if they don't again raise their standard variable home loan rates, says investment bank JP Morgan.
Asian markets sink on Lehman, Merrill woes
Asian stock markets tumbled Tuesday amid growing fears of a global financial crisis as investors reacted to the demise of two of Wall Street's biggest names, Lehman Brothers and Merrill Lynch.
More banks lift rates
ANZ and CBA have ramped up their benchmark mortgage rates just days after the central bank decided there was no need to raise rates.
ANZ hikes home loans by 15 basis points
ANZ has lifted its standard variable mortgage rates by 15 basis points.
Changes in shareholdings
Perpetual Ltd ceased to be a substantial holder in Platinum Australia Ltd on July 4.
07/08/08
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Banks may follow St George's lead
It could be costly for Australia's top four banks not to raise their mortgage rates again, analysts say.
CBA profit expected to rise to $4.69b
Commonwealth Bank of Australia Ltd is expected to reveal a modest two per cent rise in annual profit.
Stocks above 5000
Australian shares rise in early trade, after another fall in oil prices.
08/06/08
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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.
St George has tough road ahead: JPMorgan
St George Bank has a far worse outlook than any of its peers, but is likely to talk up its prospects to attract a higher takeover bid, according to JPMorgan.
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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Rates tipped to stay on hold at 7.25%
The Reserve Bank of Australia (RBA) is expected to leave interest rates on hold next week amid further signs that domestic demand is slowing.
Stocks top 5000
The Australian stock market opens higher for a second day after Wall St rallies on positive private sector employment data.
Banks pull stocks higher
The stock bounces back after Wall St is buoyed by a drop in the oil price and positive consumer confidence data.
07/29/08
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Kill the competition: Energy...
Welcome to today's round-up of business news from The Times: what we're
saying, what they're saying
07/28/08
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ANZ warns of bad debt
ANZ shares tumble as it reveals its first-half credit provisions will exceed the consensus of market expectations.
ASX surges on interest rate hopes
The Australian share market made strong gains, closing more than three per cent higher following a strong US lead and hopes of cuts to domestic interest rates.
Citigroup slash bank earnings forecasts
Tightening global credit availability, slowing economic growth and rising debts may erase earnings growth at Australia's major banks in 2009, a brokerage says.
NAB won't rule out St George bid
NAB chief John Stewart is eyeing the negotiations between Westpac and St George closely, but analysts say a counterbid may be costly.
NAB lifts rates
NAB follows other major banks in lifting its lending rates despite the RBA having kept its rates on hold.
CBA lifts rates
Commonwealth Bank has ramped up its benchmark mortgage rate just days after the central bank decided there was no need to raise rates.
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.
Banks may raise rates
Borrowers may face higher lending rates from the major banks as they grapple with persistent funding costs.
07/04/08
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St George lifts rates in spite of RBA
St George Bank has sparked fears of another round of interest rate rises by the major banks after raising its standard mortgage rate.
Horror six months for local bank shares
Australian bank stocks had a horror first half, losing over a quarter of their value in the past six months, as rising cost pressures for borrowers cooled demand for credit.
Horrific half-year for bank stocks
Australian bank stocks had a horror first half, losing over a quarter of their value in the past six months.