Australia’s fourth largest bank, Australia and New Zealand Banking Group Limited (ASX: ANZ), has solidified its ground in China by announcing it will invest an additional $300 million Australian dollars to business growth in Asia’s fastest growing economy.

“Our business in China has grown steadily since we established a presence in 1986 and the additional capital we plan to invest in ANZ China will support further expansion, growth in customer lending, employee recruitment and product development to better service our customers. ANZ aims to become a super regional bank in the Asia Pacific region, and China is a strategically important market for us. We are making good progress towards our goal of earning 25% to 30% of group profit from Australia and New Zealand by 2017,” said ANZ Chief Executive Officer Mike Smith.

This is the first increase in capital by ANZ in China after the bank initially invested $395 million. ANZ is the first Australian bank receiving license to provide Yuan-denominated services to Chinese citizens, paving the way for ANZ to expand operations in the local market.

ANZ also ranks first compared to Big 4 in Australia, meaning they hold many of the market shares in the country.  The bank now desires to place exclusive focus on a niche in China, more than its domestic competitors like Westpac, Commonwealth and National Australia Bank.

According to the strategy outlined by ANZ bank in 2007, the bank’s primary objectives in the first 1-2 years are to drive Asia profit, capture existing opportunities, and manage strategic cost. Furthermore, the bank wants to increase quality to compete with global leaders and find a platform for growth by mergers and acquisition. In the following three years, ANZ will perfect customer experience and in-fill mergers and acquisitions in Asia. 

Under targets set by the bank, within a span of five years or more ANZ intends to build a leading super regional bank in the Asia-Pacific region. They want to increase their network by 10 more outlets in the next decade, in addition to the six outlets they already control in the cities of Beijing, Shanghai, Chongqing and Guangzhou. 

ANZ isn’t the only bank investing in China. DBS, Southeast Asia’s Largest bank, said last month that it would inject 2.3 billion Yuan into its Chinese unit. In February, HSBC, based in London, also said it would like to increase its Chinese Branch network almost eightfold over the median term.

The article ANZ Bank Solidifying Presence in China appeared first on The Toonari Post - News, Powered by the People!.

New Year’s Day means a change in lifestyle for many people. Not so much for the Tampa Bay Buccaneers and their losing ways, however. The Bucs (4-12) laid an absolute egg in the first half in Atlanta and fell 45-24 to the Falcons (10-6) – Tampa Bay’s 10^th loss in a row to close out a miserable season that ironically began with a promising 4-2 start.

“If I was in the business of working out my future, I wouldn’t be coaching,” said Raheem Morris shortly after. “I’m going to go to work tomorrow until they tell me to stop.” Unfortunately, that’s exactly what management told him to do on Monday. Unable to win a game since October 16^th, Morris was fired after 3 years as the Bucs head coach. A 42-0 first half lead for the Falcons pretty much sealed his fate.

Aware that a Lions loss in Green Bay would give them an opportunity to clinch the 5^th playoff seed, Atlanta held nothing back from the get-go. By the time the Packers had defeated the Lions 45-41, the Falcons entered the 2^nd quarter with a commanding 21-0 lead.

Matt Ryan touchdown passes of 17 and 48 yards to rookie receiver Julio Jones on the second and third Falcons’ possessions of the game, respectively, put Atlanta up three scores following a one yard rushing touchdown by rookie Jacquizz Rodgers to open the game. The first of Josh Freeman’s three interceptions set up Ryan’s second and final touchdown pass of the game.

Atlanta put up just as many points in the 2^nd quarter. A Freeman fumble put the Falcons at the Tampa 30, and Michael Turner finished off the drive with a one yard touchdown run on 4^th and goal to make it 28-0. Turner would add an 81 yard sprint to the end zone on Atlanta’s next possession after scoring on a 26 yard Curtis Lofton pick six.

Freeman struggled mightily yet again, turning the ball over a total of 4 times. His counterpart’s day was the exact opposite scenario. With a 35 point lead just before halftime, and a team record of 42 points in one half, Falcons coach Mike Smith had the luxury of sitting Ryan for the rest of the game after just 9 passing attempts.

Ryan also set the Falcons single season franchise record for passing yardage. With just 106 yards he totaled 4,177 on the year, breaking Jeff George’s 1995 mark. ”We had opportunities the week before and just didn’t make the plays,” Ryan said. “Today, we made the plays and I think that’s what we needed moving forward.”

The Falcons were only able to add one more field goal in the 2^nd half with Chris Redman taking snaps. This was of no concern for Atlanta though, as Tampa Bay fell three touchdowns short with just two touchdowns and a field goal for the remainder of the game. The Falcons will now head to New Jersey for a 1 p.m. Wild Card showdown with the Giants. They hope to rebound after a disappointing divisional round loss to Green Bay last year despite being the number one overall seed after a 13-3 record.

“Honestly, I’ve said it all year: I think we’re a better team than we were last year,” Gonzalez said. This is only the first time in Falcons history that they have made the playoffs in back-to-back seasons. Now that the Bucs’ spiraling downfall has finally come to an end, they will search for a new head coach before seeking an impactful franchise player with the 5^th overall pick in the upcoming draft.

Image Courtesy of  https://www.facebook.com/atlantafalcons

The article 10 Game Losing Streak as Bucs Fall 45-24 to Falcons appeared first on The Toonari Post - News, Powered by the People!.

The Phoenix Coyotes, with the help of goalie Mike Smith, beat the Colorado Avalanche 4-1 on Wednesday, making it their third win in a row. Coyotes Taylor Pyatt was able to get the first goal eight minutes into the first period off a pass from Derek Morris. There were not many scoring chances throughout the rest of the period, and the only penalty was called on the Coyotes for delay of game.

The second period began with a couple power-play opportunities for the Avalanche, but Colorado was not able to capitalize on any of their chances. The Coyotes got their second goal of the game off the stick of Radim Vrbata with two minutes left in the period, and Ryan O’Reilly was able to score the first goal for Colorado 20 seconds later.

Lauri Korpikoski scored 24 seconds into the third period, which gave the Coyotes a two goal lead that they held for the rest of the period. The Avalanche pulled their goalie in the final two minutes of the period, but were not able to capitalize with the extra man. Vrbata was able to get around the Avalanche defense and score a second, empty-net goal in the final minutes of the game.

Smith saw made 39 saves throughout the game, allowing his team to stay aggressive and keep attacking throughout each period. Colorado goalie Semyon Varlamov made 24 saves, but was unable to keep every shot out of his net.

”Strong goaltending,” Coyotes coach Dave Tippett said in a post game interview with Fox Sports. ”We didn’t play as well as we would like, but our goaltender hung in there and battled hard for us and we found enough to win.”

The Phoenix Coyotes (6-3-2) travel back home to face the Nashville Predators on Thursday, while the Colorado Avalanche (7-5-0) head to Texas to face the Dallas Stars on Friday.

Image Courtesy of   http://www.facebook.com/thephoenixcoyotes

The article Avalanche Falls Prey to Coyotes’ Winning Streak appeared first on The Toonari Post - News, Powered by the People!.