Financial Services

Nomura profit falls in June quarter

Brokerage firm sees largely flat trading revenue, weak investment banking performance.

Deutsche Bank profit slides in Q2

by AAP
Bank hit by higher tax bill, result disappoints expectations.

S+P warns banks on high residential exposure

Ratings agency says exposure levels a 'natural red flag' as housing risk indicators resurface.

QBE dives 11% on latest profit hit

Insurer's shares touch 7-month low as Latin American business weighs on NPAT, cash profit.

Goldman denies claims of discrimination against women

Firm says it has developed programs for promotion, objects to plaintiffs' methodology.

A worrisome debt trap for first-home buyers

Nick Xenophon’s proposal to let young Australians put their super towards a housing deposit will only keep prices out of reach and increase the likelihood of an inevitable market correction.

Lloyds to pay $US370m Libor fine

Bank strikes a settlement deal over attempts to fix the benchmark rate.

Bain buys $US1.3bn loan portfolio

The loans and other securities, acquired from J.P. Morgan’s Global Special Opportunities Group, contains loans in North America, Europe, Australia and Asia.

Bartholomeusz on NAB’s UK dividend

The successful part divestment of its troubled UK real estate portfolio suggests new CEO Andrew Thorburn will soon be unlocking a significant cash pile [unlocked].

Confidence slips for mid-sized businesses: CBA

Firms look past federal budget to focus on growth, while mining confidence drops.

NAB needs a clean exit strategy from the UK

The spectre of NAB's UK exposures appears to have diminished, but incoming chief executive Andrew Thorburn will still face challenges in selling off its non-core assets without destroying shareholder value.

China's ICBC to issue US$ 12.9 billion in new shares

Offering comes after regulatory changes unveiled in April.

Tencent Holdings gets approval for Shenzhen private bank

Wenzhou and Tianjin will also get private lenders.

NAB to sell £625m of UK loans

Lender to offload largely non-performing loans to affiliate of Cerberus Global Investors.

Wooldridge facing directorship ban

Former health minister faces ban as company director over role in Prime Trust: report.

Why don't they do it in the road?

Government expenditure on roads is 'hideously inefficient' and if Joe Hockey thinks the only way to attract super fund investment is to put the risk onto taxpayers then he is about to get screwed.

Homeowners capitalising on low rates

NAB says 85% of customers ahead on mortgage repayments, credit card debt also declining.

NAB offloads $1.2bn in UK loans

National Australia Bank agrees to sell its $1.2 billion portfolio of distressed British loans.

Former Bear Stearns boss Alan 'Ace' Greenberg dies

Buffett says Greenberg was 'a wonderful friend and always fun to be with.'

ASIC warns on trust returns: report

Some unlisted property trusts booking returns 20-times higher than term deposits.