23 November 2002 Insurance Australia Group (IAG), owner of State Insurance in New Zealand, got a lukewarm response from small investors to its quest for $A380 million in equity to buy CGI (Commercial General) and NZI, achieving only a 24.5% ($A93 million) retail takeup. NRMA Insurance Ltd, the IAG subsidiary which bought State, launched 2 […]
Archive - world business
Latest: Japan’s gdp falls 0.2%. 12 June 2001 Japan’s real gross domestic product fell 0.2% from the December to March quarter, and by 0.12% from March to March. In the construction industry, starts fell by 14.7% from a year ago and forward orders fell 12.3%.
AMP Ltd has agreed to sell its remaining Australian property finance loan portfolio, comprising $A232 million of construction & property investment loans, to Suncorp-Metway. This is the last major portfolio sale in AMP’s banking & finance asset divestment programme announced last November. The New Zealand residential mortgage & retail deposit portfolios went to HSBC and […]
17 September 2002 24-hour trading of the same stocks is a possibility through a proposal for Hong Kong Exchanges & Clearing Ltd, which owns the Hong Kong Stock Exchange, to buy a (possibly controlling) stake in the American Stock Exchange. The usual American worry about Chinese financial influence will have to be overcome, though.
Latest: Buffett boosts price. 17 February 2001 In comparing investment performances, one thing you’re most unlikely to include in the equation is the premium attached merely through the purchase of an equity stake by a big-name investor. Warren Buffett’s Berkshire Hathaway announced three new investments this week and two stake increases. The first, a 9.6% […]
2 December 2001 The Seven Network will inject $A75 million into Melbourne’s Colonial Stadium to save the business from collapse, and get a 23-lease to add to the other contracts it controls, including ticketing, marketing & naming rights. Malaysia’s government has used 5.47 billion ringgit of bonds to assume up to 80% of two rapid […]