Bank Investments News
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.