The Commonwealth Bank of Australia has issued $US2.5 billion ($A3.6 billion) worth of subordinated notes amid a regulatory push to increase capital reserves.
Lending to investors and first homebuyers in Western Australia is showing early signs of a rebound from its record slump, according to the latest seasonally adjusted data from the Australian Bureau of Statistics.
The Australian Securities and Investments Commission is launching legal action against the Bendigo and Adelaide Bank and Bank of Queensland amid allegations of unfair small business lending terms.
Nickel miner Panoramic Resources will have to tap the market for $20 million in equity after its debt was halved by Macquarie Bank, while today also disclosing deferred payment for the sale of its Canadian project.
Pioneer Credit could be in breach of its loan covenants, after it said a change in the accounting treatment of its consumer debt portfolios would likely result in a dent to its underlying earnings.
Shares in mining services company Perenti Global were up more than 6 per cent today after investment bank Gresham Partners announced an agreement to sell its $91.2 million stake.
Australian Finance Group has posted a 0.8 per cent decrease in net profit, but is optimistic about its future following the federal election result earlier this year.
Commonwealth Bank of Australia has renegotiated the sale of its CommInsure life insurance business to Hong Kong-based AIA for a reduced $2.375 billion.
The Australian Securities and Investments Commission has banned Perth businessman Max David Goldenberg from providing financial services and engaging in credit activities for a period of eight years.
Australian Finance Group has signed a binding agreement to acquire Melbourne-based Connective Group in a cash-and-scrip deal worth around $120 million that will create an entity with over 6,575 brokers.
Perth’s largest insurance broker is preparing to consolidate its staff across two offices following a merger earlier this year, as one of its main competitors readies for a major transition.
Australia’s chief financial officers have become less optimistic about the Australian economy in the past year, citing concerns about global and local economic conditions, including the rising trade tensions between the US and China.
Cash Converters International says it expects a loss of between $2 million and $4 million for the 2019 financial year, largely due to a class action settlement in Queensland.
The Perth Mint has created the largest ever coin to celebrate the official launch of its Physical Gold Exchange Traded Fund on the New York Stock Exchange last night.
The recently announced sales of Perth stockbroking firms Patersons Securities and DJ Carmichael will reshape the sector’s pecking order in Western Australia.
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