by admin on June 26, 2009
Australians are more exposed to shares than the citizens of virtually any other country.
Australian households have lost an extraordinary 36 per cent of their financial wealth since the economic crisis began in the longest run of wealth destruction on record.
Australians are more exposed to shares than the citizens of virtually any other country.
Australian households have lost an extraordinary 36 per cent of their financial wealth since the economic crisis began in the longest run of wealth destruction on record.
petermartin.blogspot.com
by admin on June 26, 2009
While Westpac has cut its gold and platinum Amex and MasterCard credit card interest rates by 3 percentage points to 17.74 per cent, its student Visa card rate has fallen just 1 percentage point to 18.45 per cent.
Of the nine credit cards that have had interest rate increases since September, three have had rate rises of as much as 2 percentage points: GE Money’s Low Rate MasterCard (now 14.99 per cent), Intech Credit Union’s Titanium Visa 55 (11.55 per cent) and AMP Banking’s AMEX Gold Credit Card (16.99 per cent).
While Westpac has cut its gold and platinum Amex and MasterCard credit card interest rates by 3 percentage points to 17.74 per cent, its student Visa card rate has fallen just 1 percentage point to 18.45 per cent.
Of the nine credit cards that have had interest rate increases since September, three have had rate rises of as much as 2 percentage points: GE Money’s Low Rate MasterCard (now 14.99 per cent), Intech Credit Union’s Titanium Visa 55 (11.55 per cent) and AMP Banking’s AMEX Gold Credit Card (16.99 per cent).
business.smh.com.au
by admin on June 26, 2009
Mr Hunt, who retires at the helm of Bendigo on July 3, has fired back, saying his bank had strengthened its balance sheet in the wake of the financial crisis without any support from the government’s funding guarantee.
While Mr Hunt will hand over the reins of Bendigo to Mike Hirst at the end of next week, BusinessDaily has been told he will continue his 36-year involvement in the organisation as an adviser to the new CEO on the community branch network.
Mr Hunt, who retires at the helm of Bendigo on July 3, has fired back, saying his bank had strengthened its balance sheet in the wake of the financial crisis without any support from the government’s funding guarantee.
While Mr Hunt will hand over the reins of Bendigo to Mike Hirst at the end of next week, BusinessDaily has been told he will continue his 36-year involvement in the organisation as an adviser to the new CEO on the community branch network.
by admin on June 26, 2009
It turns out that the average interest rate paid by small businesses has fallen by only 230 basis points, which is 100 points less than the fall in the banks’ cost of borrowing.
The average rate paid by big businesses has fallen by 350 basis points.
It turns out that the average interest rate paid by small businesses has fallen by only 230 basis points, which is 100 points less than the fall in the banks’ cost of borrowing.
The average rate paid by big businesses has fallen by 350 basis points.
by admin on June 26, 2009
The “upbeat prediction” from the OECD midweek was that unemployment would “only” go to 7.9 per cent by the end of next year.
Even the “good news” OECD prediction is a big jump on the current 5.7 per cent rate and would mean an extra 250,000 people losing their jobs.
The “upbeat prediction” from the OECD midweek was that unemployment would “only” go to 7.9 per cent by the end of next year.
Even the “good news” OECD prediction is a big jump on the current 5.7 per cent rate and would mean an extra 250,000 people losing their jobs.
news.com.au
by admin on June 26, 2009
But in the other future, the dominant fact is that the global financial system has been wrecked — and that will trap the world in a deepening recession for a long time yet.
Australia’s banks and financial system have come through the crisis so far in remarkably good shape .
But with a net $448 billion of foreign debt to repay or roll over, they cannot decouple from the global financial system.
The dominant fact is that the global financial system has been wrecked — and that will trap the world in a deepening recession for a long time yet.
Australia’s banks and financial system have come through the crisis so far in remarkably good shape .
But with a net $448 billion of foreign debt to repay or roll over, they cannot decouple from the global financial system.
by admin on June 18, 2009
Australian banks increased their interest margin (the gap between the rate they borrow for and the rate they lend at) by an average of 9 basis points (0.09 percentage points) during the peak of the global financial crisis in the six months to March this year.
Credit card holders and those with personal loans have seen the least benefit from the RBA’s cuts, with rates falling a meagre 170 basis points over the last six months – less than half the official cash rate reductions.
Australian banks increased their interest margin (the gap between the rate they borrow for and the rate they lend at) by an average of 9 basis points (0.09 percentage points) during the peak of the global financial crisis in the six months to March this year.
Credit card holders and those with personal loans have seen the least benefit from the RBA’s cuts, with rates falling a meagre 170 basis points over the last six months – less than half the official cash rate reductions.
abc.net.au
by admin on June 15, 2009
Three days after lifting interest rates to combat spiralling costs, the Commonwealth Bank is throwing a lavish party at Sydney’s premier hotel for 800 head office staff, set to be awash with fine champagne and a vast array of five-star hors d’oeuvres.
Yet at the same time as it’s jacking up interest rates, and popping champagne corks, the Commonwealth Bank is forcing its workers to take an effective pay cut.
Three days after lifting interest rates to combat spiralling costs, the Commonwealth Bank is throwing a lavish party at Sydney’s premier hotel for 800 head office staff, set to be awash with fine champagne and a vast array of five-star hors d’oeuvres.
Yet at the same time as it’s jacking up interest rates, and popping champagne corks, the Commonwealth Bank is forcing its workers to take an effective pay cut.
by admin on June 7, 2009
I suggest that if the credit card company he represents had made more effort to provide real customer service and less “customer service”, I wouldn’t be closing the account I’ve had for years.
stuff.co.nz
by admin on June 2, 2009
DANIEL Grollo’s Grocon property empire has emerged unscathed from the crumbling City Pacific subsidiary CP1 after transferring more than 42 million almost worthless shares to the group’s founder, Phil Sullivan.
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