Westpac concerned about a recession for Australia
AUSTRALIA risks sinking into recession early next year after a “very disturbing” slide in expectation for economic growth, according to a report from Westpac. (more…)
Job cuts in the Banks
INDUSTRY-wide redundancies could cost up to 10,000 jobs in Australia in the next few months, as the global financial crisis bites the Australian economy. (more…)
CBA predicts more bad debts and bad loans
Commonwealth Bank of Australia, the country’s second-largest lender, warned investors to expect a big jump in bad debts and voiced concerns over the economic outlook for at least the next 18 months. (more…)
Packers PBL looking shaky!
THE once-proud Packer media empire faces break up or major financial restructure over the next year as it struggles to meet payments on its $4.2 billion debt. (more…)
Banks battle to hang on to deposits in the face of the government deposit guarantee
AUSTRALIA’S big banks plan to launch a range of “guaranteed” accounts to defend their bulging deposits under the Federal Government’s support scheme. (more…)
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