Bank Investments News
Institutions Baulk At 'be A Bank' Offer
Thursday October 30, 2008
MAJOR players in Australia's wealth management industry have rejected the Government's suggestion that frozen mortgage funds become banks, saying this will not help tens of thousands of retirees to access almost $14billion in savings.Council Investments May Prove Costly
Wednesday October 29, 2008
SINGLETON Council could lose a $500,000 investment which failed to pay interest in September.Investors Who Take The High-risk Road Can't Cry Poor
Wednesday October 29, 2008
It is difficult not to feel sympathy for retirees and others who parked their superannuation dollars in cash management and other funds which have now frozen accounts. But they chose these institutions, reputable though many of them are, because they offered a higher rate of interest than the banks. The old axiom is: the higher the yield, the higher the risk. They can hardly cry poor now and ask the Federal Government to guarantee the accounts of those higher-yield investments.Dividends Under Threat, Says Argo
Tuesday October 28, 2008
DESPITE falling interest rates and Government moves to stimulate the economy, Australian company profits will remain under growing pressure while dividend payments are under threat, Argo Investments directors say.Reserve Intervenes As Grab For Cash Knocks Dollar
Tuesday October 28, 2008
THE Reserve Bank has intervened to support the Australian dollar for only the third time since 2001, forced into the market by a swift and brutal re-alignment of global currencies.Perpetual Calls For New Guarantees To Lift Its Freeze
Monday October 27, 2008
PERPETUAL Investments aims to lift the freeze on redemptions from its $2 billion income and mortgage funds as soon as possible, but only with additional measures in place to calm nervous investors.Rudd's $1m Gamble
Saturday October 25, 2008
THE Federal Government will limit its free guarantee of bank deposits to amounts of $1 million and examine ways to help unguaranteed institutions that have had to freeze billions of dollars in funds to stop a stampede of withdrawals.Centrelink Told To Reassess Pensions
Saturday October 25, 2008
THE Federal Government has instructed its welfare agency, Centrelink, to urgently reassess pension entitlements for pensioners whose investments have fallen in value or whose income has been affected by the financial market turmoil of recent weeks.Four Fund Providers Suspend Withdrawals As Redemptions Soar
Friday October 24, 2008
AUSTRALIA'S mortgage fund industry has dramatically succumbed to a flight of money to government-guaranteed bank deposits, with four of the biggest five fund providers suspending immediate withdrawals.Guaranteed To Trigger Further Bank Turmoil
Friday October 24, 2008
A bit over year ago in London there were queues outside the troubled financial institution Northern Rock as depositors fearing for their savings sought to withdraw their money. Three weeks ago the now nationalised Northern Rock was attracting queues as depositors from other institutions saw it as a safe haven for their savings.Policy On The Run
Thursday October 23, 2008
ON TUESDAY, the Opposition launched into Kevin Rudd for supposedly ignoring warnings from the Reserve Bank that a guarantee on deposits would harm those investment banks excluded from the guarantee and cause market dislocation.Asic Extends Ban On Short Selling
Wednesday October 22, 2008
THE Australian Securities and Investments Commissions (ASIC) has extended its ban on short selling, citing "still fragile" markets, despite industry criticism of the unprecedented action and questions over whether the ban has been effective.Shorting No Go, Covered Or Not
Wednesday October 22, 2008
THE Australian Securities and Investments Commission has extended its ban on short-selling, citing "still fragile" markets, despite industry criticism of the unprecedented action and questions over whether the ban has been effective.Bank On It: The Future Is Brighter
Tuesday October 21, 2008
AUSTRALIA'S banks have been the main beneficiaries of the $63 billion Future Fund, which has managed to preserve its value while superannuation savings have crashed with the sharemarket.No Time To Break The Bank
Sunday October 19, 2008
If you're still in the market, you might as well stay, writes George Cochrane.Crisis Takes Its Toll On Bankers
Saturday October 18, 2008
HUNDREDS have lost their homes, thousands have watched their investments crumble, and a generation will be affected by superannuation losses - but spare a thought for the bankers.Meltdown Takes Its Toll On Bankers
Saturday October 18, 2008
HUNDREDS have lost their homes, thousands have watched their investments crumble, and a generation will be affected by superannuation losses - but spare a thought for the bankers.Anz Chief Has Good Reason To Be Cross
Friday October 17, 2008
Bank faces claims after the collapse of margin lenders.Nab To Seek Capital Top-up
Friday October 17, 2008
NATIONAL Australia Bank is expected to undertake a capital raising, seeking as much as $2.5 billion in the next few days, after bringing forward its annual results by nearly a fortnight and confirming its full-year cash profit will fall below $4 billion.China Holds The Key To World Economic Crisis
Monday October 13, 2008
But Beijing stands to lose plenty if it abandons its US Government investments.Sand Futures A Sure Bet
Saturday October 11, 2008
The Australian Securities and Investments Commission's ban on short selling appears to have worked a treat, the sharemarket tumbling to a three-year low during the week. Luckily, the ban has helped shield companies such as Macquarie Group, Babcock & Brown and Fortescue Metals that had previously moaned about being targeted by evil short sellers.Commonwealth Bank Is An Early Mover As The Crisis Opens Up Opportunities
Thursday October 9, 2008
Governments need concerted action; acting in isolation will only aggravate the crisis.Help For Banks, Borrowers And Rudd
Wednesday October 8, 2008
THE Reserve Bank is trying to massively inoculate Australia against falling victim to the international financial disease. In so doing, it has also given the Rudd Government a lot of political cover.Anz's Opus After Opes To Hit Home
Monday October 6, 2008
ANZ's custodian and private equity operations are among the businesses that could be wound down as the bank nears completion of a review of its troubled institutional banking arm.Reserve Poised To Cut Rates After Black Day For Markets
Wednesday October 1, 2008
THE Reserve Bank could slash official interest rates by as much as half a percentage point next week in a bid to shield Australia from the biggest worldwide financial crisis since the Great Depression of the 1930s.