2012_0113 - QBE - RBS ANZ Jobs - Hailstorm
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Mining construction up, housing falls - macrobusiness.com.au | macrobusiness.com.au
Posted by The Prince in Australian Economy on Jan 9th, 2012 | 0 comments The AIG released their December Performance of Construction Index (PCI) to complete the avalanche of local data this morning. Overall, the index lifted 1.4 points to 41 indicating improvement, but in aggregate this is still a contraction across the entire sector (a reading below 50 is contraction).
JD, which owns 500 shops, beat off Peter Jones, the entrepreneur, Sports Direct, its rival founded by Mike Ashley, and Trespass, the outdoor clothing retailer for Blacks, which has struggled against cut-price rivals and specialist online retailers.
Debt crisis: as it happened, January 9, 2011 - Telegraph
Euroland euphoria on Mario Draghi bank rescue - Telegraph
This subtle form of 'credit-easing' includes a cut in the reserve requirement to free up €100bn in lending power, and looser rules to allow collateral-starved banks to pawn more of their loan books at the Frankfurt lending window.
Unlike Standard & Poor's and Moody's, which have threatened to downgrade France's perfect rating, Fitch says it will maintain the country's triple-A rating this year.
Fitch on France & Italy
Melbourne's Christmas Day hailstorm proves costly for Suncorp | Herald Sun
Suncorp expects natural hazard costs for the six months to December 31, 2011 to be in the rage of $360 million to $420 million as claims start rolling in from the Christchurch earthquake and Melbourne hailstorm. Suncorp said about 28,000 claims had been received so far across its personal and commercial insurance brands, with about two-thirds being for damage to vehicles and the remainder for other property damage.QBE expects significant drop in profit | Finance | BigPond News
QBE expects significant drop in profit QBE's 2011 profit is expected to fall by up to 50 per cent because of record levels of claims from natural disasters and weaker investment markets. The insurer said its insurance profit margin in the year to December 31 is expected to be between seven and 7.5 per cent, down from the original forecast of at least 11 per cent.
QBE at 8-year low
. Source: Herald Sun INVESTORS smashed insurance giant QBE by sending shares plummeting to an eight-year low after the company warned profits could be halved as a result of the huge increase in natural disasters last year.
Australia-based general insurer QBE expects its profits after tax for 2011 to be down 40% to 50% on the previous year.
QBE expects 40% drop in profits after tax - Insurance Insight
ANZ kicks off banks' job cuts | News.com.au
ANZ Banking Group has launched its first round of job cuts amid fears that up to 5000 jobs could disappear from Australia's big banks in two years. Analysts believe most of the industry-wide cuts will result from natural attrition rather than redundancies. But ANZ will be the exception, slashing about 1000 jobs over the next six months as a quick fix, designed to relieve pressure from analysts and investors about the bank's burgeoning cost base.
By Emma Haslett Thursday, 12 January 2012
RBS to slash another 3,500 jobs - Leadership, business and management news, tips and features from MT and Management Today magazine
ANZ says it has no plans to announce job cuts today, but concedes cost cutting is on the agenda.
ANZ to slash hundreds of jobs
RBS will cut about 3,500 jobs worldwide in the next three years as the group shrinks its investment banking activities as part of a major overhaul.