Second Mortgage Bad Credit

Australia's CBA H2 earnings may rise 15 percent

SYDNEY, Aug 4 (Reuters) - Commonwealth Bank of Australia Ltd. (CBA) , Australia's biggest mortgage lender, is expected to report a 15 percent rise in second-half earnings on Wednesday on stronger lending, but growth may slow in fiscal 2007.

Australian banks are benefiting from 15 years of economic growth and a 30-year low in unemployment that have fuelled demand for credit and kept a tight lid on bad debts, but borrowing costs have risen on the back of higher interest rates.

The country's central bank increased its key interest rate to 6 percent this week -- the highest level since early 2001 and the second rate rise this year -- and raised its inflation forecast on Friday, fuelling speculation of a third rise later this year.

Analysts said commercial banks' profit margins would improve as they passed on the full rate rise to their loan customers and kept transaction accounts largely unchanged, but a longer term risk of rising rates was slower growth and more troubled loans.

Israel’s Defense Minister Slams Russian Sophisticated-Weapons ...

Hezbollah’s troops are using modern and sophisticated Russian-made anti-tank missiles against Israel’s army in fights in the South of Lebanon, Israel’s defense minister Amir Peretz said Wednesday, RIA Novosti news agency reports.

“We are fighting against the Iranian commando, which is armed with sophisticated, modern weaponry. This includes Russian-made anti-tank missiles, which in the past it was promised would not fall into the hands of Hezbollah. This weapon is used today against IDF soldiers in Lebanon,” Peretz said during the meeting with the German Foreign Minister, Dr. Frank-Walter Steinmeier, ynetnews.com reports.

The Gaaretz newspaper claimed on Sunday that Hezbollah used Russian-made RPG-29 anti-tank missiles, which were sold to Syria by Russia, and then to Hezbollah.

Australia's CBA H2 earnings rise 16.7 percent

SYDNEY, Aug 9 (Reuters) - Commonwealth Bank of Australia Ltd. , the country's second-biggest lender by assets, said second-half earnings rose 16.7 percent on stronger lending.

Cash earnings per share, which is before the accounting treatment of a pension plan, treasury securities and one-off items, climbed to 154.9 cents for the six months ended June 30. That compared to 132.7 cents for previous corresponding period.

The result was broadly in line with the average forecast of 152.7 cents a share from a Reuters poll of nine analysts. Estimates had ranged from 147.2 cents to 155.5 cents.

Net profit for the year ended June 30 rose 16 percent to A$3.928 billion ($2.98 billion).

Australian banks are benefiting from 15 years of economic growth and a 30-year low in unemployment that have fuelled demand for credit and kept a tight lid on bad debts, but borrowing costs have risen after two central bank interest-rate rises this year.

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