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Man with long-held mineral dreams may have tapped well of riches at last

A retiring director's abiding faith in shale oil appears to have finally paid off. LANCELOT reckons most of the screen jockeys riding today's sharemarket roller-coaster were not born in 1969, so the historic moment of Leslie White stepping aside as chairman of East Coast Minerals a week ago was probably lost on them. It was the first move on the road to retirement for the 82-year-old director, who has been a tireless advocate for shale oil in his mini-stable of companies comprising Greenvale .
12yr ago

REIT investors await reporting season with dread

IT HAS been a dark week for real estate investment trusts, and the outlook is grim for months to come. Pushed to heady heights by investors who have enjoyed annual returns of 20 per cent or more for the past five years, REITs have crashed harder and faster than anyone expected.
12yr ago

Racecourses seek development bonanza

MELBOURNE'S big racetracks are turning to residential developments to shore up their financial viability, with major new building projects planned for the home of the Cox Plate and the Caulfield Cup.
12yr ago

Wrap it up

Financial advisers like to push investment platforms but customers should investigate the benefits first, writes Annette Sampson.
12yr ago

Weather the storm

After this year's deluge of bad news, the regulator is flagging changes in how the performance of super funds is reported.
12yr ago

Build your balance

Phased retirement is something we will hear a lot of in the next 15 years as baby boomers hit their 60s. Recent research by Russell Investments, based on Australian Bureau of Statistics figures, shows 41 per cent of full-time workers expect to shift to part-time work before retiring, while 20 per cent don't expect to retire at all.
12yr ago

Lawyer faces 19 charges over cash

MELBOURNE lawyer Michael Brereton, who has battled five years of investigation by the Australian Crime Commission and an even longer Tax Office inquiry, now faces 19 charges brought by the Legal Services Commissioner.
12yr ago

Hold tight, this could take a while

AFTER Nic Lyons briefed analysts about GPT's decision to cut expected 2008 income by 27 per cent and its expected distributions for the calendar year by almost 31 per cent, the chief executive was asked whether the property group's strategy still worked.
12yr ago

CMC Markets Weekly Report

It was not a good week for the local market with the S&P/ASX 200 losing almost 3% or 155pts to finish the week at 5082.1 points. Friday's activity helped restore some ground with an 83 point gain after posting 4 down days. The 4 major banks all had good gains late in the week after coming under pressure earlier. ANZ, in particular, saw heavy selling trading below $17.60, but rallied later in the week to close at $19.52. BHP closed down $2.19 from the previous week's close at $40.70. Gold miners fared better on the back of a rise in the spot Gold price. Gold closed the week at US$934.50. Newcrest Mining closed the week at $29.98 up from $28.89 a week earlier. The RBA left interest rates unchanged at its July board meeting this week, as expected by the markets.

12yr ago

Happy New Financial Year?

Most investors won’t be sorry to see the back of the 2007/08 financial year. Share markets weakened all over the world, with the exception of a few emerging markets. The Australian share market is down more than 14% as I write, and will almost certainly record its worst performance in 26 years. And there wasn’t much, if any, money to be made in other asset classes. There was, in a sense, no place to hide, except in cash. For the year, even balanced funds are likely to show a negative return, and it’s been six years since we’ve seen that happen.
12yr ago

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