Stuck for Christmas gift ideas? Why not try a barrel of oil? You can get one for around US$40 these days. That’s 54% lower than this time last year and 72% below the price on July 14th ($145.16). True, a big barrel of West Texas Intermediate crude oil might be hard to fit under a Christmas tree. And it’s probably a fire hazard. But it also makes an excellent end table or lectern…
December 8th, 2008 | Dan Denning | 6 comments | ContinuedAll Posts Tagged With: "anz"
Australian Banks Must Increase Fees or Expand Loans to Remain Profitable
The news that’s all the rage today is Westpac’s (ASX: WBC) $19 billion bid for St. George (ASX: SGB). But in an age of rising interest rates and credit contraction, how will Australian banks remain profitable… Fees. If profitability on loans is declining (and it is), the banks could make it up charging you more fees. The growth rate in bank fees has actually declined, if you peruse the data from the Reserve Bank.
May 13th, 2008 | Dan Denning | 1 comment | Continued
Fantasy Land in the Aussie Financial Sector
It’s bizzaro world in the Aussie market today. Financial shares got a boost from a merger bid. The Prime Minister moves down the track toward price controls to bring local petrol down during a global oil crunch. And the RBA says only “risky borrowers” are facing tighter credit conditions these days.
April 16th, 2008 | Dan Denning | 8 comments | Continued
Opes Causing Strife in the Share Market
Opes Prime, the Melbourne-based broker currently causing so much strife in the share market. The company was in the “equity financing and securities lending” business. On the retail end, Opes was basically a margin lender to clients, only instead of posting cash as collateral against the loan, the client puts up his entire portfolio as collateral.
March 31st, 2008 | Dan Denning | 3 comments | Continued