Insights

The cost of protecting Australian underwriters against natural catastrophes is likely to rise, one of the world's biggest insurance brokers says, despite billions in new capital flowing into reinsurance markets.

Lend Lease has increased its development project business to $37.4 billion, the largest in its 50-year history. It is dominated by Barangaroo South, Darling Harbour and the Elephant and Castle site in London.

Investors have put close to $1 billion into food-anchored shopping centres in the past year, with demand forecast to rise despite weak growth in the retail sector.

Mirvac directors believe this calendar year will represent a trough in the present office market cycle, while demand for residential developments will remain high as low interest rates entice first home buyers.

The conversion of office towers into residential property is gaining momentum for developers and investors, while also providing some relief for office landlords facing rising leasing vacancy levels.

DEXUS Property Group has forecast a turnaround in the national office leasing market in the next 18 months due to a return of business confidence and a flight of new tenants from the suburbs into the city.

The US Justice Department plans to use its tentative $US13 billion ($13.5 billion) settlement with JPMorgan Chase as a blueprint for similar deals with other banks in probes related to bad mortgages and the 2008 financial crisis.

Global surfwear label Rip Curl has ridden a wave of improving retail trading conditions from America to Indonesia as well as the benefits from a restructure in 2012 to swing back to profitability. It reported an after-tax profit of $14.12 million for fiscal 2013.

Southern Cross received a first strike at its shareholders' meeting in Melbourne on Tuesday with more than 25 per cent of shareholders rejecting its remuneration report. Investors also recorded a strong protest vote against the re-election of directors.

The country's biggest bank, Commonwealth Bank, has been paying banned financial planner Don Nguyen an income of tens of thousands of dollars a year since he was allowed to resign in 2009 amid an investigation that ultimately cost the bank tens of millions of dollars in compensation to his clients.

The "too big to fail" status of Australia's major banks should be scrutinised in the forthcoming review of the financial system, ME Bank chief executive Jamie McPhee says.

A former Telstra executive believed to be working on NBN Co's strategic review still has a $1.5 million stake in Telstra, presenting a potential conflict of interest.

Mining services company Bradken has warned of further redundancies as it grapples with a drying up of contracts as the resources boom declines.

Share sale to set up camp

Stronger than expected iron ore production, thanks in part to the earlier start-up of a new mine, helped lift BHP Billiton's quarterly output to a new peak, paving the way for an upgrade to the full-year forecast.

Australia's biggest salary packaging company McMillan Shakespeare says it won't know until 2014 the effect of the former government's attempt to tighten the rules on tax benefits for salary-sacrificed cars.