Daily Dispatches: big profit rise for CBA

The Commonwealth Bank has duly delivered on its promise of super-charged profits for its latest half year with cash net profit hitting $2.94 billion - a 54 per cent increase on the corresponding period 12 months ago. (Sydney Morning Herald)

Financial Planning Association CEO Jo-Anne Bloch has resigned to take up another senior position in the financial services sector. (The Australian)

Banker and insurer Suncorp-Metway says its first half net profit will be higher than in the first half of 2008/09. (Sky News)

ANZ chief executive Mike Smith has supported the government's decision to axe the wholesale funding guarantee for Australian banks, but warned that the national banking system remains exposed to potentially damaging "aftershocks". (The Australian)

Europe's top central banker Jean-Claude Trichet yesterday cut short his visit to Australia as fears intensified in global bond markets that Greece, Portugal and Spain would default on sovereign debt this year and trigger a new financial crisis. (News.com.au)