US investors heaved a sigh of relief overnight, as the Obama administration unveiled a $25 billion settlement with five major home lenders over foreclosure abuses.
Us banks
Gottliebsen: a perfect storm for Aussie banks
Suddenly, the year 2012, which promised so much, is starting to look as though it will be ugly for the banking business, writes Robert Gottliebsen.
Our big four banks still among the world’s most creditworthy
Australia’s AAA sovereign rating from all three ratings groups is another reason the impact on funding costs will be minimal.
MF Global gone — 8th largest financial collapse in US history
MF Global filed for bankruptcy protection overnight in what is the eighth largest financial collapse in US history, excluding banks such as Washington Mutual.
US banking fantasyland, where a debt is an asset
No wonder US banks are on the nose and the Occupy Wall Street groups are slowly making headway in winning over public opinion.
Gottliebsen: will the US bank crisis reignite?
If Bank of America shares keep falling, then we are facing a very dangerous situation, especially as it will multiply the problems of the European banks, writes Robert Gottliebsen.
Maley: US banks flailing in a sea of misery
Disappointing profit results released overnight highlight the struggle US banks are facing, writes Karen Maley.
… 10, 9, 8, 7, 6, 5, foreclosure crisis countdown continues
The US foreclosure crisis continues with the “robo-signing” scandal already costing US banks $US50 billion in market value.
Casualties of the US zombie banks
The number of US households at risk of foreclosure has been estimated at one in five, writes Karen Maley.
Bartholomeusz: stress relief for Europe
Europe’s stress-testing of its banks has, deservedly, generated a considerable amount of cynicism, writes Stephen Bartholomeusz, of Business Spectator.
US reform guarantees nothing
In a sense it’s a measure of America’s misery that in a new era of deflation and tight credit, it celebrates a Bill that curbs the banks.
A stress-test too far for Europe
Depending on balance sheet growth, the four big Australian banks will have to raise roughly $150 billion over the next 2-3 years — in competition with the rest of the international sector and governments, writes Stephen Bartholomeusz.
US banks clean dirty Mexican drug money
US banks — including Bank of America and Wachovia — have blatantly laundered illicit funds from the Mexican drug war for years, helping to cleanse the dirty cash.
Business As Usual: UK spending cuts means days of whine and rises … Apple hits new high …
Britain joins the austerity club tomorrow night with about £85 billion of spending cuts. Plus, iPhone orders lift Apple’s worth again, US banks continue to fail and other business news of the day.
Business As Usual: NAB sees future in US … China’s monthly check up … Murdoch buys more UK TV channels …
Inflation is tipped to rise in China, Murdoch’s BSkyB picks up some Virgin Media businesses,BP’s spending plenty on lobbying and other business news from around the globe.
Business As Usual: Economy back to centre stage … BP = Big Problems … more US banks go under …
About $US50 billion has been wiped off BP’s market value since mid-April, more US banks bite the dust as consumers try to save rather than spend, Iron ore prices may be on the up and other business news.
Business As Usual: Austerity the new cool in UK … and in Italy, too … Brazil waxes lyrical about big oil find …
It’s hair shirts all around in London … Italy cuts public sector hiring and pay … Changes in the wind for US bank ratings … Car sales figures here are up on last year … Brazil waxes lyrical about another big oil find …
Business As Usual: Myer sales flat … Doubts on US consumer-led recovery … Euro hits another low …
Doubt on the strength of the US consumer-led recovery … US interest rates still falling … The euro hits an 18-month low … Spain looks inflation in the eye … More US banks bite the dust … British Airways cops it in the neck …
Business As Usual: Job ads pointing downwards … US banks continue to die … Germans to put up 8.1b euros for Greece …
Attention moves to Chona tomorrow, another four US banks bite the dust but its good news for jobs in US and investors giving Europe a miss. Plus, all the best business briefs of the day.
Business As Usual: Oil spill cost up to $12.5b … the end nigh for Camwest
The split up and sale of the bankrupt Canwest TV and newspaper interests is heading for the end game, The UK gears for unremitting post-election gloom and other business news.
Business As Usual: Questions on Greece … BP oil disaster … China puts brakes on property
BP slow out of the blocks over oil spill … China still tightening the screws on property lending … What happens here if the China economy stumbles? … Mining: it’s all about geography and availability, not taking the profits.
Business As Usual: Finally, China has a trade deficit … Greece now rated a notch above junk status …
China had its first monthly trade deficit in six years in March, although it still had a $9.9 billion surplus with the US … Another small bank bites the dust in the US … Greece’s credit rating has been dropped to BBB, a notch or two above junk status …
Business As Usual: Jobs boost forecast in US … banks still failing … Chinese bubble busting …
Job figures in the US are tipped to be the best in 30 months … US banks continue to bit the dust … China puts the brakes on bank lending … Japan is still in deflation … BSkyB is expected to challenge an Ofcom ruling in the UK.
Business As Usual: Business as usual: while the RBA talks stability, US banks still falling over … pay freeze for Murdoch staff
The RBA will be talking stability later this week … US banks continue to bite the dust … Murdoch has a big win over the union in New York … Greece continues as a basket case … and Germany has a debt blow-out
