United States

Paulina Duran

Australia's CBA to pay maximum dividend allowed despite COVID-19 hit

Aug 11 2020

SYDNEY Commonwealth Bank of Australia (CBA) slashed its annual dividend by more than half to the maximum payout allowed by regulators, even as bad loan provisions amid the coronavirus pandemic drove its annual cash profit below market expectations.

Pay out or stay out? Dividends in doubt as Australian profits catch virus

Aug 10 2020

SYDNEY Australian companies are likely to deliver smaller dividends in what is forecast to be the country's worst earnings season in a decade because of the coronavirus pandemic, with even firms that benefited from the upheaval expected to show caution.

BNP Paribas issues Australia's first climate-linked bond

Aug 02 2020

SYDNEY BNP Paribas issued Australia's first green bond linked to the performance of an index tracking companies tipped to benefit from the country's transition into a low-carbon economy, aiming to bridge a gap in sustainable investment products.

Australia's AMP warns of half-year profit plunge, blames virus

Jul 30 2020

SYDNEY AMP Ltd, Australia's largest financial advisory firm, said on Friday it expects its first-half underlying profit to more than halve, blaming the coronavirus pandemic and unsettled markets for a slump in fee income and higher credit losses.

UPDATE 2-Australia's AMP warns of half-year profit plunge, blames virus

Jul 30 2020

* AMP shares fall 12%; full results due Aug. 13 (Recasts, adds shares, analyst reaction)

Australians likely to withdraw $30 billion from pensions to weather coronavirus

Jul 30 2020

SYDNEY Australians will withdraw 56% more from their retirement savings than the government originally expected because of the novel coronavirus crisis, according to treasury analysis, as they use the tax-free money to repay home loans and boost cash in hand.

Australia's Macquarie reports lower first-quarter profit, sees challenging outlook

Jul 29 2020

SYDNEY Australia's Macquarie Group on Thursday reported a lower first-quarter profit and continued to withhold earnings guidance for fiscal 2021, warning that the impact of the global pandemic would challenge each of its units.

UPDATE 2-Australia's Macquarie reports lower Q1 profit, sees challenging outlook

Jul 29 2020

* Excess capital up 14%, shares higher (Adds CEO comment on call, shares, analysts reaction)

Australian regulator lifts bank dividend freeze, adds limits

Jul 28 2020

SYDNEY Australia's financial watchdog on Wednesday withdrew a request for banks and insurers to freeze dividends due to the novel coronavirus, but ordered them to pay less than half their profit to shareholders for the rest of the year.

Australian PM abandons interstate tour to tackle coronavirus crisis

Jul 28 2020

SYDNEY Australian Prime Minister Scott Morrison cut short an interstate tour on Tuesday to help deal with a "very complex" coronavirus outbreak in aged care homes in Melbourne, the epicentre of a second wave of infection that has alarmed health officials.

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