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BUSINESS BRIEFS.(TO THE POINT)
FINANCE
Royal Bank buys Commonwealth
The bank is buying Pennsylvania's Commonwealth Bank for $46.50 a share, or $450 mil. It's Royal Bank of Scotland's 3rd buy of a U.S. bank on the East Coast in little over a year. Shares of Commonwealth Bank surged 64% to a new high. Recent profit growth has topped 30%.
Investors avoid low-rated bonds
Companies with a B3 or lower rating sold $250 mil of bonds in Q3, but none in the past two months, Moody's said. Through seven months of '02, monthly sales averaged $1 bil. Sales from the lowest-rated firms haven't grown since '99.
** Fidelity Investments will sack 1,695, or 5.4%, of its 31,079-person staff, though no analysts or money managers. More on A11
** Global issuance of stocks and bonds shrank 12.6% in Q3 to $774 bil from $885 bil a year ago, Thomson said. Salomon captured the most business.
- COMMONWEALTH BANK OF AUSTRALIA PICKS FENICS FX AS ANALYSIS TOOL.
- News wire article from: AsiaPulse News March 26, 2003 700+ words
...in FX options, such as Commonwealth Bank, are usually faced with...institutions such as, Commonwealth Bank, Merrill Lynch and Royal Bank of Canada are choosing...FX options business." Commonwealth Bank will also benefit from...
- COMMONWEALTH BANK IN TALKS TO BUY AUSTRALIAN ARM OF ABN AMRO.
- News wire article from: AsiaPulse News July 23, 2008 700+ words
SYDNEY, July 23 Asia Pulse - Commonwealth Bank of Australia Ltd (ASX:CBA) is moving to add investment...period of exclusivity for negotiation has been set with Royal Bank of Scotland, which was part of the consortium that bought...
- Commonwealth Bank Puts Custody Ops on the Block.
- Magazine article from: Securities Industry News March 31, 2003 700+ words
Commonwealth Bank of Australia has become the latest Australian financial institution...Cogent, to France's BNP Paribas Securities Services. In May 2001, Royal Bank of Canada acquired Perpetual Fund Services. Market players say that...
- COMMONWEALTH BANK SEES 7% HIGHER FY PROFIT DESPITE CREDIT CRUNCH.(Financial...
- News wire article from: AsiaPulse News August 13, 2008 700+ words
SYDNEY, Aug 13 Asia Pulse - Commonwealth Bank of Australia Ltd (ASX:CBA) has lifted its annual profit...also announced today that it had withdrawn from talks with Royal Bank of Scotland to acquire investment bank ABN Amro Australian...
- ROYAL BANK OF SCOTLAND TO INTEGRATE ABN AMRO AUSTRALIA BIZ.
- News wire article from: AsiaPulse News September 4, 2008 700+ words
MELBOURNE, Sept 4 Asia Pulse - Royal Bank of Scotland Group (RBS) will integrate its locally owned...decided to integrate the investment banking assets after Commonwealth Bank of Australia and National Australia Bank each ended separate...
- Comment: Audacious Moves Demonstrate Flair And Solid Strategic Thinking - Bold...
- Magazine article from: The Banker September 1, 2005 700+ words
...enthusiasm for making bold moves. In the past few weeks, Royal Bank of Scotland (RBS) has taken a 5% stake in Bank of China...Sachs - all reported to be negotiating for stakes. ING and Commonwealth Bank of Australia fall into the latter category and they may...
- MasterCard International Inc.(Brief Article)
- Newspaper article from: Bank Loan Report December 10, 2001 700+ words
...Corp; HSBC Bank USA; ABN AMRO Bank NV; Commonwealth Bank of Australia; Bank of Montreal; Credit...Morgan; HSBC Bank USA; Bank of Montreal; Commonwealth Bank of Australia; Royal Bank of Scotland ; BANK ONE Corp; Credit Agricole...
- Euromarket Loans: Fimalac Goes Into Retail.(Brief Article)(Statistical Data...
- Newspaper article from: Bank Loan Report Phadungchai, Naruth Shaw, Joy C. July 10, 2000 700+ words
...Managers committing E31 million Bankgesellschaft Berlin, Leonia Corporate Bank, Barclays Bank, Commonwealth Bank of Australia, Royal Bank of Scotland, Westpac Banking Corporation, Landesbank Baden-Wurttemberg. Managers committing E15...