Thursday January 31, 2008
The U.S Federal Reserve has cut interest rates again in an attempt to keep the economy from falling into a recession.
Thursday January 31, 2008
The Australian dollar opened stronger again today after the U.S Federal Reserve cut interest rates for a second time in nine days.
Wednesday January 30, 2008
National Australia Bank's (NAB) chief economist Alan Oster says the Reserve Bank of Australia will lift official interest rates and inflation will keep rising in the latest business survey released by Australia's biggest bank.
Tuesday January 29, 2008
The ANZ is about to launch mobile banking giving millions of Australian's 24 hour access to their bank account from anywhere in the world.
Tuesday January 29, 2008
The Australian dollar (AUD) opened stronger today after the U.S dollar (USD) came under pressure from poor new homes sales data released in the U.S for the month of December.
Tuesday January 29, 2008
Jerome Kerviel the 'rogue' French trader at the centre of an $8 billion loss by French bank Societe Generale has been released from custody without charges being laid against him.
Tuesday January 29, 2008
A WOLLONGONG researcher is lobbying banks and the Federal Government to highlight the inefficiencies of the new skilled graduate visa, introduced in September to address the nation's skill shortage.
Monday January 28, 2008
THE crisis in American financial markets is reaching frightening proportions. It is just as well that the sacked chief executives of big investment banks are receiving tens of millions in payouts to console themselves. After all, what job can a former CEO of a big investment bank do, other than raise and train an expense account? We have to look after these persecuted minorities. Here is a group of words that need looking after.
Saturday January 26, 2008
ON THE day last week that a rush of big foreign investors pledged $US19 billion ($21 billion) to rescue two of America's most famous banks, analysts argued it was a good omen for the future of the beleaguered finance sector.
Friday January 25, 2008
THE new boss of Centro Properties, Glenn Rufrano, has ruled out any fire sale of assets before meeting the troubled company's banks to persuade them to extend the February 15 repayment deadline on its $3.9 billion debt.
Friday January 25, 2008
GLENN Rufrano, the man charged with turning around the fortunes of the Centro Properties Group, has ruled out a fire sale of assets, confident he can persuade the company's banks to extend a February 15 repayment deadline on $3.9 billion of debt.
Thursday January 24, 2008
The Australian dollar opened stronger today but remained under USD$0.8700 mark.
Thursday January 24, 2008
A Wall Street recovery late in the day has seen Australian shares gain ground in morning trade.
Tuesday January 22, 2008
James Packer and Lachlan Murdoch have launched a joint $3.3 billion bid for the Packer backed publishing company Consolidated Media Holdings (CMH) which was only listed on the Australian Stock exchange on December 1.
Monday January 21, 2008
The South China Morning Post reports that the Bank Of China could be posting red figures in its balance sheet after bank sources confirmed the significant write down of US sub-prime mortgage investments.
Sunday January 20, 2008
HOW home-owners respond to higher mortgage repayments forced on them this month will play a role in helping the Reserve Bank of Australia decide its next interest rate move.
Friday January 18, 2008
Australian Banks are always keen to put the interest rate up on home loans, sometimes, like the last interest rate rise for example, before any official interest rate rise by the Reserve Bank of Australia.
Friday January 18, 2008
U.S stocks took another hit overnight after news of a $16 billion loss by brokerage firm Merrill Lynch. The benchmark S&P 500 plummeted to a 15-month low with Merrill Lynch shares falling to $49.45 a loss of 10.2 percent.
Thursday January 17, 2008
Figures released by the Bureau of Statistics revealed that one in four new home borrowers took out a fixed interest home loan in November.
Wednesday January 16, 2008
Troubles in the US subprime market have rippled through to Australia. The biggest local casualty has been the shopping centre investor Centro Properties Group, which has been struggling to refinance its debts. However, even our banks have suffered, their shares discarded by nervous investors who wonder if they might become the next casualties.
Wednesday January 16, 2008
From next month, ANZ bank and Commonwealth Bank customers will be paying a $2 fee if they decide to use another banks Automatic Teller Machine (ATM).
Wednesday January 16, 2008
America's second largest bank, Citigroup announced it's first ever quarterly loss overnight with investors responding to the news by dropping their stock to invest in bonds.
Tuesday January 15, 2008
NEW evidence of an inflation surge is adding to the pressure for another rise in official interest rates, as the federal Opposition accuses Treasurer Wayne Swan of letting the banks treat him like a "mug" over this month's rises.
Tuesday January 15, 2008
Australian Prime Minister, Kevin Rudd has met with officials from the Reserve Bank of Australia (RBA) to discuss inflation.
Tuesday January 15, 2008
NEW evidence of an inflation surge is pointing to fresh pressure on official interest rates, as the Federal Opposition accuses Treasurer Wayne Swan of letting the banks treat him like a "mug" over this month's rises.
Tuesday January 15, 2008
IT CAN cost thousands of dollars for those unhappy with their mortgage to change lenders - and the fees can be worse for those the traditional banks reject.
Tuesday January 15, 2008
IT CAN cost thousands of dollars for those unhappy with their mortgage to change lenders - and the fees can be worst for those the traditional banks reject.
Monday January 14, 2008
THE Federal Government will consider forcing banks to reduce the exit fees they charge borrowers for switching home loans as it steps up its tussle with the banking industry over rising interest rates.
Monday January 14, 2008
The Commonwealth Bank of Australia has announced it will be opening its first branch in Vietnam.
Monday January 14, 2008
With the major banks and other leading lenders all lifting their home loan interest rates last week, or earlier in some cases, there seems to be no respite for borrowers.
Monday January 14, 2008
The former chairman of the failed HIH insurance company, Ray Williams, has been released from prison.
Monday January 14, 2008
The Australia Share Market opened down today as expected after the losses incurred on Wall Street.
Sunday January 13, 2008
Don't rush to fix your mortgage rate following the latest rate rises.
Sunday January 13, 2008
A SLOWING economy and more bad news for US banks sent Wall Street into a tailspin on Friday, with Australian stocks likely to follow suit this week.
Saturday January 12, 2008
The Westpac and St George have raised their home loan interest rates joining the ANZ, NAB and Commonwealth Banks in charging a higher home loan interest rate than the official rate set by the Reserve Bank.
Saturday January 12, 2008
THE two remaining banks not to raise mortgage rates in the past fortnight lifted them yesterday, dousing speculation one might hold rates steady to attract disillusioned customers.
Thursday January 10, 2008
Wayne Swan is naive to demand an explanation from ANZ for their recent mortgage rate rise ("ANZ rates row with Treasurer escalates", January 9). He clearly lacks a basic understanding of the recent turmoil in the credit markets and its implications.
Wednesday January 9, 2008
Round One of 2008, and the little Aussie battler is knocked to the ground once again.
Wednesday January 9, 2008
The Australian dollar (AUD) was trading at USD$0.8836/40 at lunchtime today after the Australian Bureau of Statistics (ABS) released figures showing that retail trade figures and job vacancies were up.
Wednesday January 9, 2008
Australia's leading banks are set to follow the lead set by the ANZ and the National by increasing their variable home loan mortgage rates.
Wednesday January 9, 2008
The Australian share market closed slightly down after Wednesday's trading with the benchmark S&P/ASX200 index down 40.4 points at 6087.7 while the All Ordinaries lost 46.2 points to 6159.5.
Wednesday January 9, 2008
The Commonwealth Bank of Australia (CBA) has joined the National Australia Bank and the ANZ in lifting the interest rate on Home Loans today.
Tuesday January 8, 2008
Choosing the best home loan product depends on what your financial situation is. What is best for Mr Black is not necessarily the best home loan product for Mr White.
Monday January 7, 2008
The National Australia Bank and Australia & New Zealand Banking Group Ltd. have raised the interest rates on mortgages.
Sunday January 6, 2008
Many people go to house auctions, some to buy and some to just watch and get an idea what houses in the area go for. You may find yourself at a property auction wanting to buy a home or an investment property.
Saturday January 5, 2008
Petrol, banks and Labor
Friday January 4, 2008
AUSTRALIAN home borrowers are set to be hit with another interest rate rise, as the big banks try to recover soaring costs caused by the global credit crunch.
Thursday January 3, 2008
WESTPAC has eschewed the Chinese expansion policies of its two main domestic rivals, Commonwealth Bank and the ANZ, which are concentrated on minority stakes in local banks, and will focus on selected use of its own brand name in the country.
Thursday January 3, 2008
TROUBLED shopping centre developer Centro Properties Group has put itself up for sale, with Westfield, Stockland and investment banks such as Macquarie Group and Babcock & Brown considered potential suitors.
Wednesday January 2, 2008
Centro Properties securities closed up three cents today as it announced that several groups were interested in its assets.
Wednesday January 2, 2008
Wotif.com Holdings Ltd has moved a step closer in its quest to takeover travel.com.au by removing all conditions from its proposed $54.8 million takeover.
Wednesday January 2, 2008
The Westpac Banking Corporation Ltd has opened a new branch in China. The bank already has a presence in Asia with offices in Beijing and Hong Kong. The new branch in Shanghai was confirmed after the China Banking Regulatory Commission approved a financial license to the Australian bank.
Tuesday January 1, 2008
Mrs Gail Kelly who was announced as Westpac's next Chief Executive Officer from 1 February 2008, and already has to find a new head for the retail bank after Mike Pratt resigned just before Christmas.