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The Commonwealth bank today posted a cash profit of $1.75 billion for the three months to 31 March 2012, as subdued credit demand and high funding costs continued to cut into its profit margins.
Banking | May 17th, 2012 | Continue reading »
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The onset of weaker property market conditions across most capital cities has made finding a home in a reasonable condition and close to a popular city centre an easier task for home buyers.
Banking | May 17th, 2012 | Continue reading »
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Australia’s finance executives are the most optimistic about economic expansion, with 69 per cent anticipating economic growth in Australia in the next 12 months, it has been found.
Banking | May 17th, 2012 | Continue reading »
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Heritage Bank today announced plans to raise approximately $125 million via the launch of new ASX-listed debt securities, to be known as Heritage Bank retail bonds.
Capital Markets | May 17th, 2012 | Continue reading » 
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Kiwibank has announced it is to cut the fixed rates on its one to five year loans and extend its one year fixed rate special for a limited time.
New Zealand | May 17th, 2012 | Continue reading »
US$1.3tn
The annual US budget deficit proposed by President Barack Obama will be US$1.33 trillion in fiscal 2012, or 8.5 per cent of gross domestic product, falling to US$901 billion in 2013, or 5.5 per cent of GDP.
Americans choke on $1 coin stockpile
The UK newspaper The Telegraph reported recently that a mountain of 1.2 billion dollar coins is sitting unused in US government vaults because the American public is so attached to the traditional dollar bill. The US Mint has been producing vast numbers of the gold-coloured coins after being ordered to do so by Congress in 2005.
American taxpayers could save $500 million (A$524m) a year if they switched from paper dollars, which wear out quickly and must be replaced, to the more durable metal version, according to the US government accountability office.
Yet demand from banks for the coins has been so low that US$1.2 billion worth – which cost US$300 million to manufacture – are sitting in storage, an investigation by National Public Radio found.
According to The Telegraph, opinion polls show that three-quarters of the American public say they would prefer to carry on using the paper dollar bill, affectionately known as the “greenback”, which celebrates its 150th birthday next year.
Comment: AB+F Blog
Two early for reform: The one-year anniversary of the Dodd-Frank Wall Street Reform and Consumer Protection Act passing into law rolled quietly by last month... [more]
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