Daily FNArena News - Australia

A disappointing earnings update in terms of margins has seen brokers cut forecasts for Westpac, the bank moving to the back of the pack in terms of preference among the major banks.

Citigroup suggests the time is right for the major banks to consider spinning off their wealth management operations, as such a move could create significant shareholder value.

FTA TV and newspaper advertising is crashing further as online and pay TV picks up the difference. Lucky the government has a protectionist policy for FTA TV.

No doubt questions will be asked about Deutsche Bank’s change of heart regarding Telstra shares as an investment. We thought let’s ask a few ourselves.

Five major investment banks and the New Zealand Exchange have joined to break the ASX monopoly.

The National Australia Bank’s monthly business survey suggests the economy is trending down, which is likely to see the Reserve Bank pause in interest rates.

Online news service Crikey reports Seek will launch its own online real estate classifieds service in October, supported by four major real estate franchise groups.

DCA Group has revealed it has been approached by potential buyers, but the broking community suggests a premium above current prices appears unlikely.

Increased competition will put pressure on margins at API, Sigma and Symbion. However, Deutsche Bank believes Sigma –the aggressor- is to feel the least impact.

Have the odds shifted towards no more rate hikes in Australia? HSBC’s John Edwards certainly seems to think so.