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Banking & Finance

Business News By Wall Street Journal

IAG raises $550m, cuts payout

IAG raises $550m, cuts payout

INSURANCE giant IAG stunned investors yesterday with a $550 million capital raising

Europe bank fears hit bourse

AUSTRALIAN shares sank 1.5 per cent yesterday amid growing fears about European banks and disappointing company results.

Dexus singed as values burn

AUSTRALIA'S listed property companies have booked more than $4.2 billion in half-year net losses this reporting season, as the sector...

Westpac's bad debts soar

Westpac's bad debts soar

A MORE than fivefold increase in bad debts for the December quarter has erased Westpac's strong revenue performance.

Unfair capital raisings

ONE would expect Commonwealth Bank to be meticulous in its capital raisings after its embarrassing attempt to raise money from...

IAG warns H1 profit to fall 96pc

IAG warns H1 profit to fall 96pc

IAG has warned its first-half profit will fall 96 per cent as investment income was savaged by weak equity markets.

Westpac's bad debts rise sharply

Westpac's bad debts rise sharply

WESTPAC has suffered a sharp increase in troubled debts in its first quarter and says it will review its dividend payout levels.

Perpetual falls after H1 profit tumble

Perpetual falls after H1 profit tumble

PERPETUAL'S first-half profit plummeted 84 per cent as the global financial crisis weighed on the fund manager.

IAG to raise $500m, warns on profit

IAG to raise $500m, warns on profit

INSURANCE Australia Group says that it plans to raise around $500 million and expects a first-half net profit of only $4 million.

Westpac bad debt charges jump in Q1

Westpac bad debt charges jump in Q1

WESTPAC said today its first-quarter earnings fell around 2 per cent, weighed down by a near six-fold increase in bad debt charges.

ASIC pips ASX on Tricom

THE corporate regulator ASIC pipped the Australian Securities Exchange at the post yesterday.

Business Survey

Image Opinion

Retail Consumer - Top Gainers & Losers

Company Name Price Change %Change
FlexiGroup 0.39 +7.9 UP +20.31%
China Century Capital 0.03 +0.5 UP +17.39%
Asian Masters Fund 0.85 +6.5 UP +7.59%
Templeton Global 0.76 +3.7 UP +4.86%
TOWER 1.29 +4.1 UP +3.2%
iShares MSCI South Korea 37.88 -324.6 Down -8.57%
India Equities Fund 0.33 -3.2 Down -9.59%
E & A 0.26 -3.5 Down -13.34%
GoldLink IncomePlus Limited 0.02 -0.3 Down -15.00%
CommQuest 0.03 -0.8 Down -25.00%

04:10PM AEDT

Europe bank fears hit bourse

AUSTRALIAN shares sank 1.5 per cent yesterday amid growing fears about European banks and disappointing company results.

Market Indices tabs

NSW 'Silicon Valley' to create job boom

NSW 'Silicon Valley' to create job boom

A "SILICON Valley" will be created in the heart of Sydney's Western Suburbs, generating an estimated 52,000 jobs over the next 10...

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Creativity is booming

Timberlake and friends

Judging from the styles on display at fashion week, a recession does wonders for creativity.

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Also in The Australian Today

Costello vows to stay put

PETER Costello has strengthened his resolve to stay in parliament after attempts to implicate him in the Julie Bishop resignation.

NSW 'Silicon Valley' to create job boom

A "SILICON Valley" will be created in the heart of Sydney's Western Suburbs, generating an estimated 52,000 jobs over the next 10...

Bradley review prompts Go8 ire

THE Group of Eight has savaged the Bradley review, describing it as a "road map to mediocrity", foolish and deeply flawed.

Single pension 'too low'

THE single age pension should be raised to two-thirds of the couple rate, according to an internal government review of the pensions...