Tag: Banking
US already in recession, says Fed official
The United States has entered a recession, the head of the San Francisco branch of the Federal Reserve, the nation's central bank, said.[MORE]
Ads aim to turn St George shareholders off takeover
The Finance Sector Union says it hopes a new advertising campaign will convince St George Bank shareholders to reject a takeover by Westpac.[MORE]
Govt introduces bill to guarantee bank deposits
Federal Treasurer Wayne Swan has introduced a bill that provides an unlimited guarantee on all deposits in Australian banks.[MORE]
US 'to face 18-month recession'
Feature
An economist who predicted the current turmoil says it's a question of when, not if the US will fall into recession.[MORE]
Bank accused of victimising pensioners
Consumer groups say pensioners and low-income earners risk losing large chunks of their income to disproportionately high bank fees.[MORE]
US bank intervention hits at core of free market
Feature
American free market ideology is the latest victim of the US financial crisis.[MORE]
Swan won't speculate on Budget deficit
Wayne Swan won't speculate on whether the Government's $10.4 billion economic stimulus package wil put the next Budget into deficit.[MORE]
US stocks slide despite bank share splurge
US stocks have retreated from early gains despite a $US250 billion plan to invest in banks.[MORE]
Wall Street extends rally after record gain
Wall Street shares kept momentum early this morning (Australian time) from a historic rally as investors grew confident that a massive US government bank rescue plan would finally ease a global financial crisis.[MORE]
Details of stimulus package come under fire
The Government is facing questions about the structure of its $10.4 billion stimulus package. [MORE]
US to use $250 billion to buy bank shares
The US government will spend up to $250 billion to buy shares in struggling banks in the latest effort to stem a global financial crisis, Treasury Secretary Henry Paulson said overnight.[MORE]
US to pump bailout billions into banks: Bush
US President George W Bush has unveiled new steps to tackle the global financial crisis, including plans to buy stakes in US banks.[MORE]
Credit union posts $2.7m profit amidst economic woes
Victoria's largest regionally-based credit union is faring well, despite global financial troubles.[MORE]
Businesses still laying off workers: NAB survey
Businesses are continuing to lay off workers but conditions remained stable in September despite the global financial turmoil.[MORE]
No worries on TIO: Lawrie
The Northern Territory Treasurer Delia says the local insurance and banking provider TIO is in a strong position despite the global financial crisis.[MORE]
Super industry head moves to reassure investors
The head of Australia's peak superannuation body has moved to reassure investors that components of their funds held in cash deposits in banks are safe. [MORE]
Turnbull to back expected stimulus package
Malcolm Turnbull says the Opposition will back Labor's expected economic stimulus package.[MORE]
Global markets rally as governments take action
Stockmarkets have rallied around the globe as governments move to shore up their banks.[MORE]
Wall St posts record points gain
There has been a massive rebound on Wall Street, with the Dow Jones Industrial Average posting a record one-day points gain after governments around the world unveiled bank rescue packages.[MORE]
Wall Street shares skyrocket on global crisis efforts
Wall Street shares skyrocketed at the market opening, with the Dow up more than four per cent, after governments around the world took a series of steps to combat the financial crisis and shore up confidence.[MORE]
European nations unveil crucial bank rescues
Germany, France and Britain announce details of massive financial rescues package.[MORE]
Spend surplus on pension increase, says Abbott
The Federal Opposition says boosting the age pension is the answer to the Prime Minister's quest to use the surplus to bolster the economy.[MORE]
Banks cut fixed home loan rates as demand slumps
Demand for fixed-rate home loans has plunged to a seven-year low, prompting two major banks to slash rates on these mortgage products.[MORE]
Local market boosted by bank deposit guarantee
Australian stocks have closed up, buoyed by news the Federal Government will guarantee all bank deposits held in Australian financial institutions.[MORE]
Suncorp considers sale options after deposit guarantee
Suncorp says its considering its options on a possible sale of its banking and investment units following the Federal Government's decision to guarantee bank deposits. [MORE]
