Daily Dispatches: Big four rock the global top-30
The nation's four major banks, led by CBA, have eaten up their rivals in the global hierarchy of lenders, after the industry reported the best total shareholder return of all developed countries in the period from 2004 to September this year. CBA is now the world's 14th-largest bank by sharemarket value, having made the biggest leap, up 13 notches on the rankings. Just behind CBA at 15th position, up three spots, is Westpac, with National Australia Bank (23, up eight spots) and ANZ Bank (26, up 12) entering the top 30 for the first time, according to research by management consultants Boston Consulting Group. (The Australian)
The bad news for RBS employees in Australia looks to be coming to an end, thanks to a plan to make the 600-odd bankers and investment bankers here one of six "global hubs". (The Australian)
Babcock & Brown Infrastructure is warning its investors they face a wipe-out if they choose to reject the proposed $1.8bn recapitalisation of the troubled company. (Business Day)
