ALLCO Finance Group was fast running out of cash and coming close to exhausting its lending facilities when it advanced $48 million to a subsidiary to help it meet margin calls over a slab of Allco shares that it owned, the Federal Court was told yesterday.
THE listed mortgage owner RHG Ltd, formerly known as RAMS, lost a court battle yesterday and has been found in default on a $300 million loan used to finance some of its mortgages.
Profit seasons are all about surprises, or the lack of them. In a booming market the wild card that sends investors rushing to buy is what analysts call "positive surprise" a result that beats not just the consensus earnings estimate, but higher profit estimates, too.
A thriving financial sector sounds like an oxymoron these days. Even Australia's banks - among the most profitable in the world - kept a fifth of this week's interest rate cut to cushion their margins. But there is one sector that has tongues wagging in the hubs of commerce: Islamic..read more
