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  • NAB UK exit expected soon
    2009 has no appetite for expansion in Britain sources said There s no question it would have made life substantially easier if we tossed it over on January 1 2009 he said last year adding the best course was to ride through the cycle rather than sell at a large loss NAB entered Britain in 1987 after buying Clydesdale Bank acquiring Yorkshire Bank a few years later After years of the British operations weighing on the group s return on equity analysts have recently increased calls for an exit to free up capital and stop clouding NAB s performing Australian business Broker Credit Suisse has pencilled in newsflow about Britain this year saying the recent appointment of Craig Drummond as NAB chief financial officer could be a trigger The successful partial sale of Lloyds in 2013 alongside recent improvements in transaction volumes may suggest the path to a successful UK exit may be becoming clearer said JPMorgan analyst Scott Manning Macquarie analyst Mike Wiblin noted prices being paid for impaired commercial real estate portfolios in Britain were improving He said there was a real chance NAB would benefit from write backs this year in its impaired and performing books of CRE loans mostly within Clydesdale NAB remains committed to its plan to sell the UK franchise but not at any price Mr Wiblin said Given an improving UK macro environment it may well be that it can get a better price this year But uncertainties remain including the strength of the British economy s recovery and customer redress issues after the mis selling of products Author Michael Bennet The Australian 1 Quick Summary Analysts forecast bank to divest UK assets as economic recovery takes shape Associated image Media Categories Business Spectator 2 DataRoom 3 Mergers Acquisitions 4 Industries 5 Financial

    Original URL path: http://www.businessspectator.com.au/print/765526 (2014-01-13)
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  • Coates Offshore draws offers | Business Spectator
    await Power price stabilisation a falling dollar and million roof rebate doubts are among reasons Australian solar may struggle in the year ahead Is the EU about to abdicate climate leadership The rift over energy and climate policy is widening in Brussels as politicians feel the pressure from the continent s ongoing economic crisis Industries Advertising and Marketing Agribusiness Automotive Aviation Construction and Engineering Education Family Business Financial Services Food and Beverages Gaming and Racing Health and Pharmaceuticals HR Industrial relations Information Technology Infrastructure Insurance Manufacturing Media and Digital Resources and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu Coates Offshore draws offers Michael Bennet The Australian 9 Dec 2013 9 33 AM DataRoom Mergers Acquisitions The international arm of Coates Hire has received approaches from several parties and may consider a sale You must be logged in to read this article Not a member yet Register today Business Spectator is available on all of your devices so you can access the latest news and commentary where and how you like Register now Already a member Sign in here Email Address Enter your Email Address Password Enter the password that accompanies your Email Address Remember me Log in Request new password Coates Hire the nation s largest integrated hire company owned by the Carlyle Group and Seven Group has fielded offers from parties interested in buying its Britain based international arm Coates has appointed an adviser in Britain after receiving approaches about a potential sale of Coates Offshore which provides rental equipment to offshore oil gas companies from its base in Aberdeen in Scotland sources said While Carlyle and Seven had no plans to sell the business it is understood they appointed the adviser to see if the interest was real and would only sell if a bumper price was put on the table Coates Offshore is a small part of the overall group and Carlyle and Seven are said to be happy with its performance Coates Offshore last month unveiled a refinancing package with HSBC to help the business expand into new markets and repay a smaller existing finance facility A spokesman for Carlyle declined to comment Global private equity giant Carlyle and the Kerry Stokes controlled Seven each own about 45 per cent of Coates Hire after acquiring the business in 2008 In November last year Seven and Carlyle hired Goldman Sachs to run a strategic review of Coates Hire But in June Coates s owners said they would retain the ownership structure and were committed to growing the rental company For the year to June 30 Coates Hire s revenue fell 4 per cent to 1 2 billion and underlying earnings before interest tax depreciation and amortisation declined 5 per cent to 534 million due to softer demand according to Seven s accounts In September

    Original URL path: http://www.businessspectator.com.au/news/2013/12/9/dataroom/coates-offshore-draws-offers (2014-01-13)
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  • Westpac poised to buy Lloyds' remaining lending books | Business Spectator
    in Brussels as politicians feel the pressure from the continent s ongoing economic crisis Industries Advertising and Marketing Agribusiness Automotive Aviation Construction and Engineering Education Family Business Financial Services Food and Beverages Gaming and Racing Health and Pharmaceuticals HR Industrial relations Information Technology Infrastructure Insurance Manufacturing Media and Digital Resources and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu Westpac poised to buy Lloyds remaining lending books Michael Bennet The Australian 9 Oct 2013 4 03 PM DataRoom Mergers Acquisitions Industries Financial Services Lender best placed to win loans worth more than 1bn ACCC to look at deal You must be logged in to read this article Not a member yet Register today Business Spectator is available on all of your devices so you can access the latest news and commentary where and how you like Register now Already a member Sign in here Email Address Enter your Email Address Password Enter the password that accompanies your Email Address Remember me Log in Request new password By Michael Bennet The Australian Westpac Banking Corporation is poised to make its biggest acquisition in five years after as rival bidders continued to exit the race for Lloyds remaining lending books Long suspected to the lead candidate Westpac is best placed to win the loans worth more than 1 billion after Lloyds told Macquarie it was going with Westpac s proposal It follows the exit of Deutsche Bank advised ANZ from the race last month while Commonwealth Bank opted out early in the sale process being run by Goldman Sachs The purchase would be Westpac s biggest since its 18 5bn splurge on St George Bank in 2008 according to S P Capital IQ data UBS is advising Westpac Up for grabs is Lloyds 2 5bn BOS International corporate lending book and its 6bn asset finance business Capital Finance Australian Competition and Consumer Commission ACCC chairman Rod Sims told The Australian the regulator would look at the deal but declined to comment on whether Westpac or other parties had gone to the watchdog prior to bidding It s something we would have to look at he said We don t have much information now but we do know that Lloyds have a business that finances floor plans motor vehicle dealers and it has point of sale vehicle financing We know that both Westpac and Macquarie are also in that business and we know it s a reasonably concentrated market Lloyds which was partly nationalised during the global financial crisis has been selling its Australian exposures in recent years in order to return capital to the group s British base Lloyds asset finance book is spread across property equipment and car leasing Major players in the space are ANZ s Esanda Westpac s St George and Macquarie A Pepper Australia led consortium

    Original URL path: http://www.businessspectator.com.au/news/2013/10/9/mergers-acquisitions/westpac-poised-buy-lloyds-remaining-lending-books (2014-01-13)
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  • Wood to head BAML investment bank | Business Spectator
    means Google knows more about internet users than anyone else And runner up Facebook must go further to mine precious user insights if it wants to compete Climate Carbon markets Energy markets Renewable energy Resources Solar energy Wind power CleanTech Science Environment Green Deals Policy Politics Smart Energy Latest stories Solar s grim 2014 five headwinds await With power price rises moderating panel prices no longer in freefall and doubts over the million roof rebate Australian solar will struggle in the year ahead Is the EU about to abdicate climate leadership The rift over energy and climate policy is widening in Brussels as politicians feel the pressure from the continent s ongoing economic crisis Industries Advertising and Marketing Agribusiness Automotive Aviation Construction and Engineering Education Family Business Financial Services Food and Beverages Gaming and Racing Health and Pharmaceuticals HR Industrial relations Information Technology Infrastructure Insurance Manufacturing Media and Digital Resources and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu Wood to head BAML investment bank Michael Bennet The Australian 4 Oct 2013 12 09 PM DataRoom Dealmakers David Wood has been appointed the new head of investment banking at Bank of America Merrill Lynch You must be logged in to read this article Not a member yet Register today Business Spectator is available on all of your devices so you can access the latest news and commentary where and how you like Register now Already a member Sign in here Email Address Enter your Email Address Password Enter the password that accompanies your Email Address Remember me Log in Request new password New Bank of America Merrill Lynch Australia chief Kevin Skelton has wasted little time filling his old role appointing David Wood as head of investment banking Wood takes over from Skelton who was this week appointed country head He has longstanding relationships with many of our most important clients and a proven track record of understanding and meeting client needs Skelton with Jayanti Bajpai and Jiro Seguchi co heads of Asia Pacific global corporate and investment banking said in an internal memo Wood a qualified lawyer with more than 15 years experience in banking will report to all three He joined BAML in 2010 and most recently headed the bank s natural resources team in Australia and has served as deputy head of investment banking since March The reshuffle comes after former country head Craig Drummond left BAML in July for a senior finance and strategy role at National Australia Bank which he starts later this year BAML is ranked third in equity capital markets 18th for advising on announced takeovers and 11th for bond issuance according to Thomson Reuters The Australian Print this page More from Michael Bennet The Australian 10 Jan NAB UK exit expected soon 09 Jan Boost Juice nears sale report 20

    Original URL path: http://www.businessspectator.com.au/article/2013/10/4/dataroom/wood-head-baml-investment-bank (2014-01-13)
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  • NAB UK exit expected soon | Business Spectator
    Analysts forecast bank to divest UK assets as economic recovery takes shape You must be logged in to read this article Not a member yet Register today Business Spectator is available on all of your devices so you can access the latest news and commentary where and how you like Register now Already a member Sign in here Email Address Enter your Email Address Password Enter the password that accompanies your Email Address Remember me Log in Request new password Optimism surrounding a potential exit from Britain by National Australia Bank continues to grow as deal making conditions improve and the economy picks up steam Ahead of NAB s first quarter update next month expectations are growing that chief executive Cameron Clyne may this year free himself of the bank s troubled British operations which have hamstrung the group throughout his five year tenure Analysts at Macquarie and JPMorgan yesterday added their voices telling clients the British government s partial selldown in Lloyds Bank and the better prices being paid for commercial real estate debt showed conditions for an exit by NAB were improving But while unlikely given an expected pushback from investors some investment bankers said the improving British economy could also result in Mr Clyne cheaply expanding NAB s presence by making a move on rivals It is understood however that Mr Clyne who has been chief executive since the start of 2009 has no appetite for expansion in Britain sources said There s no question it would have made life substantially easier if we tossed it over on January 1 2009 he said last year adding the best course was to ride through the cycle rather than sell at a large loss NAB entered Britain in 1987 after buying Clydesdale Bank acquiring Yorkshire Bank a few years later After years of the British operations weighing on the group s return on equity analysts have recently increased calls for an exit to free up capital and stop clouding NAB s performing Australian business Broker Credit Suisse has pencilled in newsflow about Britain this year saying the recent appointment of Craig Drummond as NAB chief financial officer could be a trigger The successful partial sale of Lloyds in 2013 alongside recent improvements in transaction volumes may suggest the path to a successful UK exit may be becoming clearer said JPMorgan analyst Scott Manning Macquarie analyst Mike Wiblin noted prices being paid for impaired commercial real estate portfolios in Britain were improving He said there was a real chance NAB would benefit from write backs this year in its impaired and performing books of CRE loans mostly within Clydesdale NAB remains committed to its plan to sell the UK franchise but not at any price Mr Wiblin said Given an improving UK macro environment it may well be that it can get a better price this year But uncertainties remain including the strength of the British economy s recovery and customer redress issues after the mis selling of products Print

    Original URL path: http://www.businessspectator.com.au/news/2014/1/10/dataroom/nab-uk-exit-expected-soon?destination=node/765526 (2014-01-13)
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  • NAB could consider MLC split: report
    a shake up I can see a scenario where all banks not just NAB will potentially look to divest the underwriting businesses he told the AFR MLC is one of the more obvious candidates I guess the question is can they potentially divest part of the business and still retain exposure to the growth area of wealth via distribution The news comes amid suggestions from analysts that the bank may rid itself of its United Kingdom business this year NAB purchased MLC for 4 56 billion in 2000 Quick Summary Analysts suggest bank could offload part of its wealth management arm Associated image Media Categories Business Spectator 1 DataRoom 2 Industries 3 Financial Services 4 Primary category Adapt or Die Knowledge Hub 5 Financial Services 6 Companies Mlc 7 NATIONAL AUSTRALIA BANK LIMITED 8 Keywords NAB 9 Wealth management 10 Status Published Content Channel Business Spectator 11 Source URL http www businessspectator com au news 2014 1 10 financial services nab could consider mlc split report Links 1 http www businessspectator com au investment topics business spectator 2 http www businessspectator com au dataroom 3 http www businessspectator com au industries 4 http www businessspectator com au industries financial services

    Original URL path: http://www.businessspectator.com.au/print/765586 (2014-01-13)
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  • NAB could consider MLC split: report | Business Spectator
    Renewable energy Resources Solar energy Wind power CleanTech Science Environment Green Deals Policy Politics Smart Energy Latest stories Solar s grim 2014 five headwinds await With power price rises moderating panel prices no longer in freefall and doubts over the million roof rebate Australian solar will struggle in the year ahead Is the EU about to abdicate climate leadership The rift over energy and climate policy is widening in Brussels as politicians feel the pressure from the continent s ongoing economic crisis Industries Advertising and Marketing Agribusiness Automotive Aviation Construction and Engineering Education Family Business Financial Services Food and Beverages Gaming and Racing Health and Pharmaceuticals HR Industrial relations Information Technology Infrastructure Insurance Manufacturing Media and Digital Resources and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu NAB could consider MLC split report 10 Jan 7 03 AM 2 DataRoom Industries Financial Services Analysts suggest bank could offload part of its wealth management arm You must be logged in to read this article Not a member yet Register today Business Spectator is available on all of your devices so you can access the latest news and commentary where and how you like Register now Already a member Sign in here Email Address Enter your Email Address Password Enter the password that accompanies your Email Address Remember me Log in Request new password Analysts have speculated that National Australia Bank Ltd could offload part of wealth management arm MLC according to The Australian Financial Review Nomura bank analyst Victor German said all the banks could be in line to radically change their wealth management operations though NAB s MLC business made the most sense for a shake up I can see a scenario where all banks not just NAB will potentially look to divest the underwriting businesses he told the AFR MLC is one of the more obvious candidates I guess the question is can they potentially divest part of the business and still retain exposure to the growth area of wealth via distribution The news comes amid suggestions from analysts that the bank may rid itself of its United Kingdom business this year NAB purchased MLC for 4 56 billion in 2000 Print this page Related articles 13 Jan Bank dividends risk cutbacks 13 Jan Not all regulation is bad 13 Jan Morgan to join financial inquiry 08 Jan New bank rules help small lenders 07 Jan Planners to have strong 2014 More from Business Spectator Technology Adapt or die Commercial The Future of Energy Family Business Alan Kohler s Family Business China China Spectator Please log in or register to post comments Comments on this article Comments Policy Ashley G Ali Sat 2014 01 11 23 14 Follow guide we have for you and you can make 90 dollars every hour Our agents earn around 12k a

    Original URL path: http://www.businessspectator.com.au/news/2014/1/10/financial-services/nab-could-consider-mlc-split-report?destination=node/765586 (2014-01-13)
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  • Aust dollar lifts in late trade
    good news for the Australian unit he said The US Federal Reserve is being guided by the US labour market outlook on its march towards the end of quantitative easing Mr de Ferranti said A strong jobs figure would build the case for more aggressive stimulus cuts from the central bank compared with the currently anticipated US10 billion a month which in turn would be bullish for the US dollar

    Original URL path: http://www.businessspectator.com.au/print/765841 (2014-01-13)
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