| Sports Betting Online |
Investors give banks a pounding
16 September 2008 |
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| Macquarie Group was caught in the cross hairs of the investor firing line yesterday, with shares slashed over ten per cent, thanks to the collapse of American investment bank Lehman Brothers. The Macquarie closing share price of $39.46 was the lowest in almost four years, with the flirtation of a three-figured share price from back in May 2007, when Macquarie Bank peaked at $98.64, a faint and distant memory. The current Macquarie share price values the company at $11 billion, or one fifth of Commonwealth Bank's market capitalisation of $56 billion, and almost embarrassingly 50 per cent smaller than the $17 billion St George value. The broader market staged something of a recovery during the day, with the All Ordinaries down 1.7 per cent to 4,875 points, but the Financials Index plunged 3.5 per cent to 4,558 points. Of the major banks, National was the hardest hit, down almost five per cent or $1.14 to $22.82, with Commonwealth off a dollar or 2.4 per cent to $41.98. Westpac was relatively unscathed, shedding 37 cents to $23.15, with merger partner St George down two per cent to $30.34. Suncorp fell 6.7 per cent to $9.50, with AMP in freefall, down eight per cent to $6.83.The Babcock & Brown pain intensified with a 17 per cent fall to $1.58, which is almost a twentieth of the $31.08 twelve-month high, with the current market capitalisation around just $550 million. |
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| Source : The Sheet |
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| 30 September 2008 | - New credit card features double reward points |
| | - NAB funds youth business |
| | - Merger benefits unclear for St George and Westpac |
| | - Banks face crackdown from regulator |
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| 29 September 2008 | - More banks fail in US and Europe |
| | - Home buyers accounts complex and costly |
| | - Credit Card Interest Rates Remain Stable |
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| 26 September 2008 | - Macquarie exits lending markets |
| | - Heritage looks to agribusiness |
| | - Big rate cuts coming in October |
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| 25 September 2008 | - Visa and MasterCard taking over debit |
| | - NAB may offload bad debt to US government |
| | - Commonwealth tipped to buy Suncorp bank |
| | - Banks run riot with no competition |
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| 24 September 2008 | - Sydney Credit Union becomes SCU |
| | - Commonwealth joins velocity awards |
| | - BankWest quits cashflow finance |
| | - Aussie banks profit from credit crunch |
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| 23 September 2008 | - NAB most exposed to US problems |
| | - Don't lower your mortgage repayments |
| | - Banks benefit from short selling ban |
| | - Investors switch to term deposits |
| | - Nab Cuts Interest Rate On Low Rate Credit Card |
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| 22 September 2008 | - Credit Card Interest Rates Remain Constant |
| | - New improved frequent flyer program grounded |
| | - NAB and Westpac face tough debt markets |
| | - First home buyer accounts launched |
| | - Credit crunch: worst may be over |
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| 19 September 2008 | - NSW Teachers go west |
| | - Market breaks MacBank |
| | - Expanding BankWest up for sale |
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| 18 September 2008 | - Best home loans from BankWest, one direct and mecu |
| | - Aussie banks remain strong |
| | - Amex and credit union cards win gongs |
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| 17 September 2008 | - Bank penalty fees to stay |
| | - Bank and super insurance in doubt |
| | - Aussie banks exposed to Wall St chaos |
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| 15 September 2008 | - Women miss out on savings and super |
| | - Two people run NAB's sub-prime program |
| | - Fixed rate mortgages plummet |
| | - Banks coy about fraud rates |
| | - Australian Credit Card Interest Rates Rise |
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| 12 September 2008 | - Reverse mortgage lender is broke |
| | - October rate cut looks unlikely |
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| 11 September 2008 | - Brakes on at Suncorp |
| | - Banks short of skills at the top |
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| 10 September 2008 | - No rate relief on cards or business loans |
| | - Banks tighten lending rules |
| | - ANZ re-organises and cuts staff |
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| 09 September 2008 | - Westpac plus St George is all good |
| | - ING plans transaction account |
| | - Fees up on interest free deals |
| | - Big bank CEO's get $9 million each |
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| 08 September 2008 | - Banks hiring retail talent |
| | - St George to accept Westpac offer |
| | - Beware of fixed mortgages |
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| 05 September 2008 | - Suncorp raises rates on cards |
| | - Pensioners caught out by welfare changes |
| | - NAB and ANZ most at risk |
| | - ANZ raises rates on deposits |
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| 04 September 2008 | - Originations flagging for mortgage bellwether |
| | - No rate cuts from niche lenders |
| | - Few see advantage in Wizard credit card |
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| 03 September 2008 | - RAMS and CBA lead on rate cuts |
| | - Profit down at Savings & Loan |
| | - Credit card rates go up |
| | - Banks cut rates on loans and deposits |
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| 02 September 2008 | - Muslim bank planned |
| | - Deposits fund home loans |
| | - City Pacific announces big loss |
| | - An amazing loss |
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| 01 September 2008 | - Wizard first to cut rates |
| | - Lean times for mortgage brokers |
| | - I haven't sold out says Aussie John |
| | - Credit Card Interest Growth Greatest in Low Rate Credit Card Segment |
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