Bank Investments News
Storm made secret CBA deal
Friday September 4, 2009
A SECRET deal between Commonwealth Bank and Storm Financial has been revealed as a factor behind $3 billion in investor losses.Asic Gave 'clean Bill Of Health' To Storm
Saturday January 17, 2009
THE Australian Securities and Investments Commission failed to act on complaints about Storm Financial Group last year before the high-risk advisory house collapsed.Macquarie Can't Find Storm Shelter
Wednesday January 14, 2009
MACQUARIE Group remains exposed to an unknown quantity of margin loans, despite selling its margin loan portfolio to Bendigo and Adelaide Bank.Clients Left In Ruins As Another Financial Services Group Collapses
Wednesday January 14, 2009
The Commonwealth Bank is poised to appoint a receiver to Storm Financial Group as news emerges of Storm clients in financial ruin.Macquarie Remains Exposed To Loans
Wednesday January 14, 2009
MACQUARIE GROUP remains exposed to an unknown number of margin loans despite selling the business to Bendigo Bank last week.Kiernan Back To Rebuild His Empire
Tuesday January 13, 2009
THE Perth mining identity Michael Kiernan is aiming to rebuild part of his former mini-empire with the backing of a big Indian group.
Mr Kiernan's new investment vehicle, Stirling Resources, is asking shareholders to approve the purchase of a 19.9 per cent stake in the copper explorer Redbank Mines from his private company Crawley Investments.Storm In Hot Water As Bank Pulls Plug
Tuesday January 13, 2009
STORM Financial, one of Australia's biggest financial planning networks, has been placed in voluntary administration, casting a pall over the future of about 13,000 client portfolios.Banks Face Action Over Legal Charges
Monday January 12, 2009
THE banking industry may have to refund millions of dollars in wrongly charged legal bills after a court ruling found that St George Bank had failed to pass on discounts it had received from lawyers to the customers it had sued to recover bad debts.Macquarie Warns Of Savage Fall In Profits
Friday January 9, 2009
NICHOLAS MOORE has delivered Macquarie Group's second profit warning in seven weeks and now faces the bank's annual profit slipping below the $1 billion mark, nearly half that of predecessor Allan Moss's swansong last year.Cba Board Rejects Criticism Over Delay In Bad Debt Warning
Monday December 22, 2008
COMMONWEALTH Bank's board is standing firmly behind its top executives as regulators begin an assessment this week into whether the banking giant breached disclosure rules surrounding its $2billion capital raising.Regulator To Examine Cba Raising
Saturday December 20, 2008
THE corporate regulator will push ahead with an investigation into the Commonwealth Bank's possible breach of disclosure rules following this week's botched $2 billion capital raising.Foot To The Floor At The Fed - But We Must Learn From Japan
Saturday December 20, 2008
WHOOPEE, you might think. The official interest rate in the US was reduced close to zero, at just 0.25 per cent, this week. But it still far too early to declare that happy days are here again, or even in prospect. With the decision, the Federal Reserve, the US central bank, has fired the last shot in its interest rate locker - not that it had many, after running a lax monetary policy for more than a decade.Richo's Mysterious Beirut Money Trail
Friday December 19, 2008
THE controversial Labor powerbroker and businessman Graham Richardson had a second Swiss bank account through which he channelled as much as $4.6 million of the proceeds from shareholdings in Offset Alpine and Abednego Nickel.Future Fund Holding Firm
Wednesday December 17, 2008
TELSTRA'S biggest shareholder has resisted weighing into debate over the performance of the telecommunications carrier's management, with the $64billion Future Fund saying it remains comfortable with its exposure to the company.Big Pay Packets A Result Of 'slimy Culture'
Thursday December 11, 2008
GREEDY people and a "slimy culture", not market forces, are responsible for excessive executive pay, former Reserve Bank governor Bernie Fraser says.Bell Tolls For Brisconnections
Thursday November 27, 2008
BRISCONNECTIONS has played down speculation that its underwriters, Macquarie Capital Advisers and Deutsche Bank, could eventually seek to delist or buyout the hapless toll-road group, amid signs that the company's plans to raise a further $817 million from its security holders have gone off the rails.Swan Declines To Sing Of Deficit
Friday November 21, 2008
TREASURER Wayne Swan says he has no plans to borrow in order to invest, despite an assurance from the Reserve Bank it would be fine to do so.Feeling Crook - And Better Off For It
Tuesday November 18, 2008
Matt O'Sullivan wouldn't miss a bank briefing for anything.Nab Boss Takes A Trim - To $8.5m
Tuesday November 18, 2008
JOHN STEWART finished his last full year as National Australia Bank's chief executive by taking a small pay cut to his overall remuneration package after the group's 10 per cent fall in cash profits to $3.9 billion.Macquarie's Nemesis Returns With Vengeance
Friday November 14, 2008
UBS analyst gives investment bank another kicking.
MACQUARIE Group's favourite analyst is back.
UBS Investment Research's Jonathan Mott, who helped trigger a massive sell-off in Macquarie shares in September, has issued another glum note on the embattled investment group.