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BENJAMIN ONG  |  MONDAY, 25 JUN 2012
... these hopes dashed. Two weeks ago, Spain set the mood with news that it could have as much as a,-100 billion to save its banks. Hooray! But wait, this a,-100 bil would add to Spanish government debt. Bond markets sent the yield on its bond surging past ...

Market Wrap - Midday

AAP  |  FRIDAY, 22 JUN 2012
... disquiet with what's happening in Europe," he said. "That's translated here in pretty savage lashing for the usual stocks. The banks are down and of course so are the resources." US stocks slid sharply, with the Dow Jones Industrial Average sinking two ...

Fundamentally challenged

BENJAMIN ONG  |  FRIDAY, 22 JUN 2012
... AG's credit rating was cut three levels by Moody's Investors Service, Morgan Stanley was reduced two levels and 13 other banks were downgraded in moves that may shake up competition among Wall Street's biggest firms." And lest we forget, there's still ...

Market Wrap

AAP  |  FRIDAY, 22 JUN 2012
... per cent) to 2,859.09. LONDON - European stocks slid in anxious trade before Spain announced the cost of bailing out its banks and amid a slew of data that suggested a slowdown in the global economy. London's benchmark FTSE 100 index closed down 0.99 ...

Market Wrap - Midday

AAP  |  THURSDAY, 21 JUN 2012
... resources sector, global miner BHP Billiton lost 22 cents to $32.38, and Rio Tinto eased six cents to $57.66. Among the major banks, ANZ was eight cents lower at $21.67, National Australia Bank reversed 18 cents to $23.27, Westpac dipped six cents to ...

IFM commits $90m to ConnectEast

LINDA HAUSKEN  |  THURSDAY, 21 JUN 2012
... (AFIF) and Industry Funds Management (IFM) infrastructure debt mandates. IFM participated in the refinancing alongside major banks and other institutional investors. "The reason we are stepping in is because with our investors we can provide longer term ...

110 years prison for ex-SIB chief

BEN COLLINS  |  THURSDAY, 21 JUN 2012
... Barbuda, sold certificates of deposit (CDs) to depositors that paid a premium over interest rates on CDs issued by U.S. banks. By 2008 SIB owed its CD depositors more than $8 billion in funds that were embezzled by Stanford. Stanford diverted the money ...

UHNW take $720bn hit in 2011

MELANIE TIMBRELL  |  WEDNESDAY, 20 JUN 2012
... income, added van den Biezenbos, although the shift in preference among private wealth clients is now causing issues for banks. "Their [the banks'] business model has to shift. Where previously there was a lot of income from transactions of active portfolios ...

Market Wrap

AAP  |  WEDNESDAY, 20 JUN 2012
... indicator for April is due out sa is the Westpac-Melbourne Institute Leading Indexes of Economic Activity Meanwhile, the Reserve Banks of Australia's (RBA) head of payments policy department, Tony Richards, to scheduled to address the Australian Banking ...

Market Wrap - Midday

AAP  |  TUESDAY, 19 JUN 2012
... sector, global miner BHP Billiton was 16 cents lower at $32.48, and Rio Tinto eased 50 cents to $56.50. Among the major banks, ANZ was 16 cents weaker at $21.64, National Australia Bank added nine cents to $22.90, Westpac improved 2.5 cents to $20.78 ...