Latest news and insights on banking and finance in Australia and New Zealand, as delivered in the daily 7am Banking Day email news service (subscribe or take out a free trial).
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Bondholders defer Henry Walker Eltin deed
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11 July 2005 12:00amAdministrators of failed mining services and engineering group Henry Walker Eltin agreed to defer a vote on a proposed deed of company arrangement at a creditors meeting on Friday. » read more »
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ANZ's mortgage options in the rumour mill
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11 July 2005 12:00amANZ Bank and GE Capital are "among those taking a close look" at niche mortgage provider Bluestone, the Sydney Morning Herald reports. » read more »
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Commonwealth quits Hong Kong life insurance
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07 July 2005 12:00amCommonwealth Bank yesterday said it agreed to sell three of its non-bank businesses in Hong Kong to Sun Life Financial of Canada for approximately $600 million. » read more »
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CBA silent on gains from CMG Asia sale
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07 July 2005 12:00amCommonwealth Bank had little to say yesterday, and have had little to say historically, about the funds under management and financial performance of the business units in Hong Kong the bank will sell to Sun Life. » read more »
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CBA plays catch up on corporate cash management
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07 July 2005 12:00amThe Financial Review reports that Commonwealth Bank will develop a "web-based banking and cash management system for business customers." » read more »
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Macquarie reaps fund fee windfall
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07 July 2005 12:00amMacquarie Bank said it would earn performance fees from its specialised funds management businesses of $168 million for the six months to June 2005. These fees take the fee income from the bank's numerous listed funds to $413 million for the year to June. » read more »
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Australian Unity pursued by Macquarie
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07 July 2005 12:00amThe Financial Review reports that Macquarie Bank is the party that made an unsolicited offer to buy Australian Unity. » read more »
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Warranties underpin Toyota Finance
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06 July 2005 12:00amTighter margins on motor vehicle finance have contained the returns of a pair of the largest finance companies operating in Australia and New Zealand over the last year. » read more »
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Lower leasing margins erode Orix profit
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06 July 2005 12:00amLosses associated with the entry into the equipment hire business in New Zealand and a decline in margins in financing vehicles in Australia have cut the profit of financier Orix in the year to March 2005. » read more »
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Middle market credit quality recovers
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06 July 2005 12:00amIn April, this newsletter reported comments by credit insurers and debt collectors who said they expected the credit cycle to worsen. At the time, those observations reinforced themes apparent from the escalation in middle market company failures over the course of the summer and autumn, and a wave of profit warnings during April from listed companies. » read more »
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Money laundering laws delayed
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06 July 2005 12:00amThe federal government will delay implementation of laws intended to curb money laundering. » read more »
