Tag: Banking
England cuts rates to record low
The Bank of England has cut interest rates to the lowest level in its 300 year history.[MORE]
Housing approvals slump fuels rate cut speculation
Expectations are firming for another big interest rate cut next month after a sharper-than-expected economic deterioration.[MORE]
Commonwealth Bank rejects Storm Financial's legal claims
The Commonwealth Bank has rejected claims by Storm Financial that the Federal Court has found the bank has a case to answer.[MORE]
Bishop urges banks to pass rate cuts on to business
Deputy Federal Opposition Leader Julie Bishop has joined business leaders in calling for banks to pass on the full amount of recent interest rate cuts.[MORE]
Bankers Association confident on guarantee scheme
The Australian Bankers Association (ABA) has rejected a claim that the Federal Government's bank guarantee scheme could encourage reckless lending practices.[MORE]
RBA upholds tradition, no Jan meeting
The Reserve Bank is keeping with tradition and not meeting today, despite the economic downturn.[MORE]
Britain's Brown plays down fresh bailout for banks
British PM Gordon Brown has played down the prospect of injecting more state cash into struggling banks.[MORE]
Tough times in 2009, but long term outlook 'positive'
The Chamber of Commerce and Industry (CCI) says the global financial crisis will have an impact on Western Australia's growth in 2009 but the state is poised to recover quickly.[MORE]
Private credit rises through November
The Reserve Bank says private sector credit rose by 0.4 per cent in November, after a 0.6 per cent increase in October.[MORE]
US puts up $7b to support auto lender GMAC
The Bush administration has expanded its bailout of the US auto industry, saying it is buying $US5 billion ($7.2 billion) in equity in auto and mortgage finance company GMAC and increasing a loan to General Motors by $US1 billion.[MORE]
Shoppers warned about Christmas sales fraud
Consumers are being warned to be careful with their personal financial details during the Boxing Day sales.[MORE]
ASIC to probe troubled Storm Financial
The corporate watchdog has launched an investigation into Queensland-based company Storm Financial.[MORE]
Aussie, CBA move to divide up Wizard
Aussie Home Loans and the Commonwealth Bank move to buy non-bank lender Wizard.[MORE]
CIT Group to receive 2.3 bln dlr injection from US Treasury
CIT Group will receive $US2.33 billion ($3.4 billion) in capital injection from the US Treasury as part of the emergency rescue package for the country's troubled financial sector, the company says.[MORE]
Banking analyst predicts jump in bad debts
A leading banking analyst says Australia's big four banks may deliver more bad news to investors in the new year.[MORE]
WA BankWest jobs are safe, says new chief
BankWest's new director has promised no job cuts in WA as a result of its takeover by the Commonwealth Bank.[MORE]
Republic of Ireland announces bank bailout
The Irish Republic has become the latest country to announce a huge rescue package for its financially troubled banks.[MORE]
RBA assistant governors to switch jobs
Changes are afoot at the top at the Reserve Bank of Australia (RBA).[MORE]
$11b injection for Irish banks
The Irish Government has announced it is injecting $11 billion into three of Ireland's major banks as part of a recapitalisation rescue package.[MORE]
Japan slashes interest rates to 0.1 pc
The Bank of Japan has slashed official interest rates to 0.1 per cent, in a bid to fight off a deepening recession.[MORE]
CBA denies misconduct over capital raising bungle
The Commonwealth Bank denies it mishandled its disclosure of information after a bungled capital raising this week.[MORE]
Bidgee Horsham, Mildura offices to remain open
Branches of the troubled finance company Bidgee finance will remain open in Horsham and Mildura in north-west Victoria.[MORE]
Some Bidgee offices to stay open
The Bidgee Finance office in Deniliquin will close, but branches in Wagga Wagga and Albury will stay open under new owners, after the receivers signed agreements this week.[MORE]
CBA nears final stage of BankWest takeover
The Commonwealth Bank has cleared the final regulatory hurdle in its $2 billion takeover of BankWest.[MORE]
Banks gloomy over economic outlook
The leaders of two of Australia's biggest banks have painted a bleak economic picture at their annual general meetings today. [MORE]
