Compare Credit Cards
- Credit Cards Home
- Balance Transfer Rate
- Low Interest
- No Annual Fee
- Reward Credit Cards
- Business Credit Cards
- Gold & Platinum
- Debit Cards
Compare Banking
Compare Loans
Compare Insurance
- Insurance Home
- Health Insurance
- Home Insurance
- Life Insurance
- Motor & Bike Insurance
- Travel Insurance
Investment Providers
Links
Class Action Lawsuit Filed Against ANZ Over Opes Prime
A class action lawsuit has been filed against Australian Banking major ANZ which is alleging that the lender failed to adequately disclose risks associated with loans to insolvent margin lender Opes Prime.
>> Read more
Australian Pension Funds Lose A$ 91 Billion
Australian pension funds lost a combined A$ 91 billion or US$ 62 billion in the year to Sept 2008, which amounts to the equivalent of about 8 per cent of the country’s total economic output. The staggering loss is a direct consequence of the global credit crisis which has had the result of devaluing assets globally.
>> Read more
ASX Refers CBA to ASIC Over Disclosure And Share Placement Bungle
The Federal Securities regulator ASIC, said it intends to proceed with an investigation into whether Commonwealth Bank possibly breached disclosure requirements after it bungled an A$ 2 billion equity placement by failing to disclose an increase in bad debt levels prior to the placement to investors.
>> Read more
CBA & Merrill Lynch Botch $ 2 Billion Institutional Share Placement
Commonwealth Bank of Australia (CBA) in an unprecedented move scrapped a botched capital raising exercise yesterday. The bank initially raised A$ 2 billion in an equity placement underwritten by Merrill Lynch on Tuesday, but had to relaunch the placement through UBS on Wednesday, after investors complained that there was a failure to disclose the materially important fact that there had been an increase in bad debt provisions prior to the capital raising.
>> Read more
CBA Places $ 750 Million With Merrill Lynch
Commonwealth Bank of Australia announced today that it plans to place A$ 750 million in new capital with Merrill Lynch, raising the lenders Tier-1 capital ratio to 7.8 per cent.
>> Read more
Fortescue Metals Group In Play
Reuters reported on Monday, that Australian iron ore miner Fortescue Metals Group (FMG) may either be the subject of a bid by BHP Billiton, or that a Chinese firm may seek to acquire a stake in the company and may even purchase it outright. FMG shares rocketed 40 percent against a broader ASX which was lacklustre.
>> Read more
ASIC To Crack Down On Rogue Stock Brokers
The Australian Securities and Investment Commission (ASIC) says it will start focusing more closely on the operations of Australian broking houses that use market rumours to generate an increase in their sales or the trading activity of their clients .
>> Read more
QBE Raises A$ 2 billion. Will it bid for AIG?
QBE Insurance, Australia’s largest insurer announced that it would be raising capital into order to repay debt and fund foreign expansion through acquisitions. The exercise should raise A$ 2 billion and would take place in the form of a fully underwritten institutional share placement.
>> Read more
Suncorp Raises Full Year Earnings Guidance
Suncorp-Metway who only as recently as 6 weeks ago was looking at selling of key business units at distressed prices at the height of the credit crisis, raised it full year bank profit forecast. Not surprisingly the insurance and banking groups stock gained as much as 8 per cent at the start of trade, immediately after the announcement, and then paired its gains, ultimately closing down a little over 5 per cent for the day compared to a broader index which was largely unchanged
>> Read more
Babcock & Brown in Deposit Dispute With Bankers
Babcock & Brown, the troubled Australian investment advisory firm, said that it was involved in a dispute with one of its bankers, over the release of a deposit which it views as a “material amount”
>> Read more