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- Westpac Announces New Bank SA Chief
Gail Kelly, chief executive of Australian banking major Westpac, has appointed a veteran of the lender Jane Kittel, as the new chief of its South Australian unit Bank SA.Ms. Kittel has worked at Westpac for 15 years, and served most recently as the general manager of Westpac’s Pacific banking operations. Kittel will be taking over the role at Bank SA from Rob Chapman, who himself was elevated to the position of chief executive of another Westpac unit St. George. Mrs. Kelly lauded Ms. Kittel as one of the lenders most experience executives, who successfully steered Wetspac’s Pacific region though a volatile last few years. - Fund Manager Urges Merger of Bendigo And BoQ
A fund manager with holdings in both Bank of Queensland, and Bendigo & Adelaide Bank has backed a proposed $5.5 billion merger plan between the two lenders, even going so far as to demand that a merger takes place. Geoff Wilson, chairman of fund manager Wilson Asset Management has said that the boards of both lenders should indeed consider the merger, which makes both strategic and legal sense. - Australian Insurers Say Exposure To New Zealand Quake Still Too Early To Tell
Australian insurers with exposure to the earthquake in New Zealand say it is still far too early to tell the extent of their liability to the disaster, as the calculation of costs relating to the damage caused have yet to be totalled. Insurance Australia Group (IAG) says it has received and responded to more than 2000 calls from its customers in the aftermath of the natural disaster. - Macquarie Likely To Cut Staff As Profits Plunge By 25 Per Cent
Australian investment banking major, Macquarie, which today revealed a 25 per cent drop in first half profit estimates, now faces the difficult task of cutting costs as the groups seeks to return to its former level of profitability. Macquarie estimates first half profits of approximately$360 million, compared with $479 million in the same time period in the previous year. - Credit Demand Amongst Australian SME’s Declines Sharply
The demand for credit coming from Australian small businesses declined sharply during June, with asset finance demand plunging 21 per cent. Market research firm Veda Advantage, which publishes the commercial credit index, the result of which show that demand by SME’s during the June quarter fell by 5.6 per cent compared to the same time period during the previous year, and also fell by another 2.1 per cent in July. - Read more featured finance news articles
- RACQ Warns Australian Motorists To Watch The Price Of Petrol
"Cheap Tuesday" used to be the best day to fill the petrol tank, however that is now slowly changing with "savings Sunday" becoming the prime day to fill up the fuel tank. For many years, Tuesday was the best day to top up one’s fuel tank, as a result of a fuel cycle set by companies. However the oil companies in a bid to maintain revenues began varying which day was the cheapest to obtain fuel, as they sought to keep consumers off balance. - Five Tips For Borrowing Using A Personal Loan
Personal loans can be amongst the cheapest way to borrow, but we can’t help but stress how important what the reason you are borrowing the money for. If you are looking to finance a new flat screen television or go on holiday, or any other luxury, a personal loan is not your best option. Fortunately the financial crisis has made most people more aware of their finances and changed the way they think about borrowing. - Six Debt Myths Busted
Trying to pay off debt that has piled up can make borrowers feel very scared and vulnerable. Often those who find themselves struggling to pay off a mountain of debt end up fearful over what the future may hold, don’t know whom to turn to or what to do.That kind of insecurity is usually a result of inability to decide what to do and what the consequence of a particular course of action are. Many people confuse fact with fiction when trying to decide how to solve their problems so in this post, we try separate truth from fiction. - Nine Credit Card Pitfalls
No matter how responsible you are when it comes to credit cards, they still come with a number of pitfalls. As soon as you navigate your way past one, yet another emerges. Here are 9 credit card pitfalls. The Debt That Never Ends. The minimum payment on many credit cards barely meet the interest being incurred on your debt, which means if you only ever make the minimum, you’re debt will never reduce and seem to be endless. Occasionally a card will be offered with such a low minimum monthly payment, that your debt ends up actually growing. - Nine More Credit Card Pitfalls
In the first part of this series we looked at nine credit card pitfalls. As we said previously, even for the most responsible users credit cards represent a minefield so here are nine more pitfalls you should be aware of. Insurance offers that credit cards tend to present are horribly over-priced. You should avoid signing up to these and instead look on the internet for a better deal. - Three Ways To Save A Bit Of Cash In A Low Interest Rate Environment
With governments globally raising income tax rates globally in their response to fiscal deficits run up during their attempt to deal with the financial crisis, it is becoming increasingly difficult to save. In Australia, fortunately the government so far has yet to raise tax rates, the top marginal tax rate is the same as it was last year however it is still at a hefty 45 per cent. - Read more finance hints and tips

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