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Reliance on improving global economy threatens big-four in 2013

MARK SMITH  |  THURSDAY, 8 NOV 2012
The annus horribilis that Australia's big-four banks expect to define 2013 could become a present reality if too much of their fortunes are hitched to an expected strengthening global economy following the re-election of US President Barrack Obama yesterday ...

RBA holds rates but deploys rhetoric as magic pudding

MARK SMITH  |  WEDNESDAY, 7 NOV 2012
Reserve Bank governor Glen Stevens can hold off policy adjustments if rhetoric can help get the economy moving again, according to Instreet managing director George Lucas. Yesterday the Reserve Bank of Australia (RBA) surprised the market by holding ...

Big four prepare market for annus horribilis 2013

MARK SMITH  |  WEDNESDAY, 7 NOV 2012
Australia's big four banks have posted combined cash earnings of more than $25 billion, but bank chiefs, analysts and investors alike have focused on concerns about the sustainability of returns in a tough environment. Westpac rounded off the reporting ...

RBA says its ok

BENJAMIN ONG  |  WEDNESDAY, 7 NOV 2012
... first time in six years that it has maintained the status quo on Melbourne Cup Day - following yesterday's deliberations. Ahh yes, it'sthe world economy. While the RBA thinks that the "Risks to the outlook are still seen to be on the downside, largely ...

Perpetual CFO resigns

BEN COLLINS  |  TUESDAY, 6 NOV 2012
Perpetual Limited chief financial officer Roger Burrows has resigned, after accepting the same role at transport infrastructure group Asciano limited. After announcing Burrow's departure to the market yesterday, Perpetual said it had commenced an executive ...

Westpac calm in face of storm

MARK SMITH  |  TUESDAY, 6 NOV 2012
Westpac's batten-down-the-hatches approach balance sheet management means it's better suited than its rivals to weather future financial storms. The bank is just emerging from a period of consolidation. Jobs have been cut and efficiencies made but the ...

NSW councils entitled to compo: Fed court

BEN COLLINS  |  TUESDAY, 6 NOV 2012
A federal court judge ruled yesterday that 13 NSW councils were entitled to compensation from ratings agency Standard & Poor's, investment bank ABN Amro and Local Government Financial Services (LGFS). The councils lost $16 million, or 93% of their capital ...

A week full of question marks

BENJAMIN ONG  |  MONDAY, 5 NOV 2012
... was good too until... he didn't. The S&P 500 finished Friday down by 0.94%, nearly erasing the previous day's 1.09% advance. Yes Virginia, this is another 'what the' moment. For 'what the' fudge's wrong this time? What, what, what? The US employment ...

Exchange-traded gov bonds expand investment options

MARK STORY  |  FRIDAY, 2 NOV 2012
Retail access to exchange-traded government bonds moved a step closer yesterday following the Senate's passing of the Commonwealth Government Securities Legislation Amendment (Retail Trading) Bill. Subject to regulatory clearance, trading is expected ...

Good not great but getting better

BENJAMIN ONG  |  FRIDAY, 2 NOV 2012
Are they back? Yes them, all those who sold in May and went away? This was my first thought after I clicked through the closing numbers on Wall Street and Europe this morning. For what I saw was good - their respective equity indices jump by over 1.0% ...