Archived News for Finance Sector Professionals - June, 2013
Banks’ income from businesses is up again, rising for the fourth consecutive year, but it seems money’s being saved on the domestic end with income from fees at home dropping for three years straight.
The Australian Securities and Investments Commission has launched a new financial education program specifically for young people aged 16 to 25. The MoneySmart Rookie initiative will sit alongside the existing MoneySmart program, offering financial literacy tools that are easy to understand.
Institutional investors in Australia can now venture lower on the credit spectrum, with a new fund allowing managers to invest in a portfolio of institutional or corporate loans with credit ratings from A to BB.
A Hong Kong private equity group tried but failed to take over the board of the troubled resources company Intrepid Mines, as it tries to reclaim its 80 percent interest in a major Indonesian project.
A “Glass Ceiling” is described as “the unseen, yet unbreakable barrier that keeps women from rising to the upper rungs of the corporate ladder, regardless of their qualifications or achievements.” But now the walls will be transparent, too, so Australians can witness how workplaces are integrating women into upper management.
Lehman Brothers Holdings in America is blocking Lehman’s Australian unit from paying its creditors including Local governments, churches and charities as much as $225 Million.
The Australian Securities Exchange has announced it will conduct a fully underwritten 2 for 19 pro rata entitlement offer of new ASX shares in a bid to raise an estimated $553 million at a price of $30 per share.