Spiralling bad debts have cast a shadow over the future earnings power of ANZ and NAB, outweighing the benefits of surging revenue and fatter margins.
April 30, 2009
Today Tonight ‘wildly wealthy’ segments breached Act
The High Court has ruled that current affairs television show Today Tonight breached the Trade Practices Act in a deal it made with a business offering training in real estate investments.
Banks ordered to pay & #36;1.5b to Bell liquidators
A West Australian judge has ordered a syndicate of 20 banks to pay more than & #36;1.5 billion to the liquidators of Alan Bond’s former Bell group of companies.
INM says NZ conditions are challenging
The Irish parent of The New Zealand Herald newspaper & #39;s Australian owner said New Zealand trading conditions remained very challenging throughout 2008.
Singapore unveils green building plan
Singapore has unveiled an ambitious plan to certify 80 per cent of the city-state’s buildings as environmentally green.
Dollar closes higher on NZ rate cut
THE dollar closed higher today, boosted by a strong day of trade on the local stock market and a weak New Zealand dollar.
Fujitsu profit down 67pc in $1.6bn loss
JAPAN’S Fujitsu said it suffered a Â¥112.4 billion ($1.6 billion) net loss for the business year through March due to the global economic crisis.
Hopes of US recovery boost shares
THE share market closed higher after a strong lead from US markets.
Lufthansa posts $469m lost
GERMANY’S leading airline Lufthansa has posted a first-quarter net loss of ¿256 million ($469 million), compared to a profit of ¿44 million euros in the same period a year earlier.
Shares higher in midday trade
THE share market was over 2 per cent higher at noon, driven by a strong lead from Wall Street and a sharp rise in the copper price overnight that lifted local resources stocks.