Australian’s have been taking advantage of half century low interest rates, and government subsidies, with the number of mortgages taken on the increase, according to research from a credit provider.
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Australian investment banking major Macquarie Group, is raising billions of dollars for a new trust fund aimed at turning the investment house into a leading offshore player in China’s burgeoning securities markets.
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Retail shareholders in National Australia Bank (NAB) may stage a revolt and oppose the re-election of directors later in the year, in retaliation for the lender scaling back the retail share purchase component of its capital raising.
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Dutch financial services company ING Group has selected Commonwealth Bank of Australia (CBA) as one of at least six financial institutions that have been chosen to enter the second phase of bidding for its Swiss and Asian private banking assets.
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Australian banking major ANZ has been given a $6.95 million fine by the US Treasury after the lender entered into business transactions earlier in the decade with Sudan and Cuba, after the US initiated trade bans with the two countries.
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Australian investment banking major Macquarie Group has entered into a joint venture with a leading Islamic investment bank as it seeks to increase its Sharia compliant offerings and expand its foot print in the Middle East.
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Bancassurance group Suncorp-Metway recorded a 40 per cent drop in full year profits, with the result coming in at the lower end of its guidance.
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Superannuation (super) funds recorded their fifth consecutive month of gains in July, clawing back some of the losses caused by the global credit crisis over the last two years ,according to a report issued by a research firm.
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Experts believe that performance rankings of superannuation (super) funds given by the regulator will provide consumers a better understanding of the behaviour of their retirement incomes.
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The Big Four Australian banking groups have begun preparations for an acquisition spree after having built up substantial war chests, which will enable them to capture market share largely at the expense of smaller regional rivals.
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