THE fallout from the row between Commonwealth Bank and its abortive capital raising undertaken by investment bank Merrill Lynch reverberated around the group’s share price yesterday despite the success in finally getting away its replacement $1.65 billion offer.
The focus has now switched back to the original disclosures and bad debt likely to rise to $2.5 billion next year. (more…)
AN inevitable result of tightening credit conditions is that customers take longer to pay their bills.
When a business has trouble meeting obligations, it is the squeaky door that gets the oil.
Make sure your door is squeaking loudly. (more…)
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…)
EMPLOYERS are preparing to shed workers as the global financial crisis worsens. Three seperate surveys into employment painted a grim picture for the nation’s jobs market, as businesses feel the pinch of deteriorating conditions. (more…)
AUSTRALIAN banks will struggle to maintain their current dividend yield, as the institutions’ balance sheets contract as a result of the global credit crunch. (more…)
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