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National Australia Bank is in the Financial Services Industry
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Banks 'tapped Future Fund For Cash'
Three of Australia's largest banks have obtained long-term loans from the Future Fund as cash dried up from other sources, The Australian reports.The ANZ, Westpac and National Australia Bank NAB tapped funding for up to 10 years, with the deals concluding shortly after the collapse of investment giant Bear...
Write-down Fears Impact on ANZ Shares
Fears further writedowns might occur on ANZ Banking Group's ANZ conduit portfolio saw the bank trade below its peers after raising over $1 billion from institutions.As shares in Australia's major commercial banks moved into positive territory, on very light volumes, after Tuesday's Wall Street-led rout, ANZ was around two...
NAB Takes $400m Hit to Cash Earnings
National Australia Bank NAB will take at least a $400 million hit to its cash earnings spread over the next 10 years from long-term hedges taken to reduce the risk of writedowns associated with its $1.57 billion synthetic collateralised debt obligation SCDO portfolio.After the market closed Tuesday, the bank...
NAB May Tap Paulson's $840b Rescue Fund
National Australia Bank NAB may look to curb losses from its toxic conduit assets by tapping into the US government's $US700 billion ($A840 billion) proposed rescue fund.The bank may look into making a write-back once more detail emerges on the rescue package which was presented to US Congressional members...
Australian Bank Shares Pounded
Shares in Australia's major banks and insurers were pounded as investors fled risky assets in a knee-jerk reaction to Wall Street's four per cent plunge.The major lenders dropped over two per cent, with National Australia Bank NAB scrip finishing 5.31 per cent lower at $19.60 after falling 10.1 per...
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Enstar Group Limited Announces Proposed Acquisition
HAMILTON, Bermuda, Oct. 7 /PRNewswire-FirstCall/ -- Enstar Group Limited ("Enstar") today announced that its wholly-owned subsidiary, Royston Run-Off Limited, had entered into a definitive agreement for the purchase of Unionamerica Holdings Limited from St. Paul Fire and Marine Insurance Company, an affiliate of The Travelers Companies, Inc. ("Travelers"),...
Bridge Resources Corp. Announces Completion of Financing and Approval of Durango Plan of Development
Bridge Resources Corp. (TSX VENTURE: BUK) ("Bridge") is pleased to announce it has completed the previously announced Pounds Sterling 35,000,000 Durango project debt financing facility with The Royal Bank of Scotland plc as lead lender for a syndicate including KBC Bank NV and the National Australia Bank Limited. This senior...
Fitch Rates $589MM Capital Beltway Funding Corp Revs 2008A-D
NEW YORK -- Fitch Ratings assigns ratings to the $589,000,000 Capital Beltway Funding Corporation of Virginia senior lien multi-modal toll revenue bonds (I-495 Hot Lanes Project) series 2008 A through D (tax exempt, AMT) as follows: --$300,000,000 series 2008A 'AA-/F1+'; --$114,000,000 series 2008B...
NEW ZEALAND: MOODY'S ASSIGNS A1 TO BNZ INCOME SECURITIES' HYBRID TIER-1 SECURITIES.
Moody's Investors Service has assigned an A1 rating to BNZ Income Securities Limited ("BNZIS") issuance of NZD-denominated perpetual non-cumulative shares, callable in 2013. The initial size of the offer will be NZD350million, with the right to accept oversubscriptions of a further NZD350million....
NAB has big plans for UK business branches.
Byline: Eric Johnston Jul 16, 2007 (The Australian Financial Review - ABIX via COMTEX) -- National Australia Bank NAB will rely heavily on its 74 specialist business branches to drive growth in Great Britain. The NAB business branches are aimed at small business...
NAB FP enters next phase.
Jul 16, 2007 (Money Management - ABIX via COMTEX) -- Geoff Rogers, currently head of retail at NAB Financial Planning, has been appointed as its new general manager. He replaces Adrian Hondros, who vacated the role in May 2007 in order to take up a position within...
Wesfarmers seeks $10bn Coles loan.
Jul 16, 2007 (The Age - ABIX via COMTEX) -- Australian conglomerate Wesfarmers is in the process of securing finance for its $A19bn takeover of retailer Coles. Wesfarmers is seeking a $A10bn loan, and has appointed National Australia Bank, ANZ Bank and BNP Parabis to organise ...
Big Four to play to their own strengths.
Byline: Richard Gluyas Jul 11, 2007 (The Australian - ABIX via COMTEX) -- Ralph Norris, the CEO of the Commonwealth Bank of Australia, expects the strategies of the nation's "Big Four" banks to begin to diverge. According to Norris, each of the banking...
McDonald's gives budding marketers chance to shine.
Byline: Julian Lee Jul 11, 2007 (The Sydney Morning Herald - ABIX via COMTEX) -- Fast food chain McDonald's Australia is enlisting the help of consumers to name a new hamburger. McDonald's Australia marketing director, Helen Farquhar, said the chain's customers want to...
NAB's long short-list to replace Stewart.
Byline: Eric Johnston Jul 11, 2007 (The Australian Financial Review - ABIX via COMTEX) -- National Australia Bank is planning for a successor to CEO John Stewart. Stewart is on a one-year rolling contract but has indicated that he would stay for another...
Miners and money movers enjoy spoils.
Byline: Jacob Saulwick Jul 10, 2007 (The Sydney Morning Herald - ABIX via COMTEX) -- National Australia Bank's monthly business survey shows conditions for the mining and financial services sectors continue to improve. More difficult conditions were recorded for the retail and constructions...
A seat on the sidelines.
Byline: Jane Searle and Damon Frith Jul 10, 2007 (BRW - ABIX via COMTEX) -- Australian Prudential Regulation Authority APRA regulations impact on the ability of the big four banks to underwrite big mergers and acquisitions. Phil Chronican, of Westpac, notes APRA limits...
Winning in the media.
Byline: Malvina Zayats Jul 10, 2007 (CA Charter - ABIX via COMTEX) -- The media has a great influence on Australian society. It is a mistake for companies to try to "spin" their media communications, as they risk alienating the media. Many senior...
Nation's home buyers drag their feet.
Byline: Nassim Khadem Jul 10, 2007 (The Age - ABIX via COMTEX) -- The Australian housing market slowed in May 2007. Housing finance approvals rose by only 0.1 per cent, the slowest rate for six months. However, the total value of loans increased...
Banks enlist customers in $100m fraud war.
Byline: Julian Bajkowski Jul 09, 2007 (The Australian Financial Review - ABIX via COMTEX) -- The growing incidence of internet fraud has prompted Australia's major banks to team up with vendors of computer security software. The banks have been loath to make recommendations...
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All Other Nondepository Credit Intermediation: 522298Brought to you by IBM
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