SUPERANNUATION
Contributions fall short
More than three-quarters of people won't have enough superannuation to last them throughout their retirement, according to the financial services group Deloitte. It also says that the gradual increase in compulsory superannuation contributions to 12 per cent by 2019 won't benefit retirees until well after 2030.
FRANCHISES
Domino's stays steady
Domino's Pizza announced at its annual general meeting yesterday it had recorded robust same-store sales for the first four months of 2011-2012 with 10.3 per cent growth on top of the 7.83 per cent growth achieved in the same period last year.
REAL ESTATE
Stockland sells stake
Property group Stockland has sold its interest in the office building in Sydney's Martin Place that houses the Seven Network's news headquarters, for $172.2 million. Stockland sold its 50 per cent stake in the building to joint owner QIC Global.
RETAIL
Trust finalises new loans
Westfield Retail Trust has finalised $1.27 billion of new, bilateral bank facilities with maturities between 2014 and 2017. The company is also on track for earnings per security of 18.3? and a distribution of 16.5?.
DEVELOPMENT
Fall in building approvals
A sizeable fall in residential building approvals confirmed that the jump recorded a month ago gave a misleading impression of strength in a struggling industry, according to analysts. The number of residential approvals fell by 13.6 per cent in September, seasonally adjusted, after a 10.7 per cent rise in August.
AUTO
Poor year for Mazda
Mazda reported a 14.4 billion yen ($178 million) loss for the latest quarter and is now projecting a big annual loss instead of a profit due to the sluggish global economy and high yen. Mazda had only just started to recover from the March 11 tsunami and earthquake.
COAL SEAM GAS
Party mulls ban
Coal and coal seam gas miners may be banned from Queensland's Scenic Rim district under a Liberal National Party government. The party has announced that a land-use plan for the area south-west of Brisbane would be revised to say exactly which activities will be allowed.
PURCHASING
Chinese power slips
China will account for about 30 per cent of global expansion in terms of purchasing power parity next year compared with about 35 per cent this year, says economists at the Bank of America.
Frequently Asked Questions about this Article…
What did Deloitte say about the superannuation shortfall and the 12% compulsory contribution increase?
Deloitte warned that more than three-quarters of people won’t have enough superannuation to last through retirement. It also said the gradual increase in compulsory contributions to 12% by 2019 won’t meaningfully benefit retirees until well after 2030.
How did Domino’s Pizza perform in the early part of the 2011–2012 year?
At its annual meeting Domino’s reported robust same‑store sales for the first four months of 2011–2012, with 10.3% growth on top of the 7.83% growth recorded in the same period the previous year.
Why did Stockland sell its stake in the Martin Place office building and who bought it?
Property group Stockland sold its 50% interest in the Martin Place office building—which houses the Seven Network news headquarters—for $172.2 million. The stake was sold to the building’s joint owner, QIC Global.
What financing update did Westfield Retail Trust announce and what are its reported targets?
Westfield Retail Trust finalised $1.27 billion of new bilateral bank facilities with maturities between 2014 and 2017. The company said it is on track for earnings per security of 18.3 and a distribution of 16.5, as reported.
What does the recent fall in residential building approvals mean for property investors?
Residential building approvals fell by 13.6% in September (seasonally adjusted) after a 10.7% rise in August. Analysts say the prior month’s jump gave a misleading impression of strength, indicating the industry remains under pressure.
How serious is Mazda’s recent financial setback and what caused it?
Mazda reported a 14.4 billion yen (about $178 million) loss for the latest quarter and is now projecting a large annual loss instead of a profit. The company cited a sluggish global economy, a strong yen, and ongoing recovery from the March 11 tsunami and earthquake.
Could coal and coal seam gas mining be banned in Queensland’s Scenic Rim, and why does that matter to investors?
The Liberal National Party has indicated it may ban coal and coal seam gas miners from the Scenic Rim district by revising a land‑use plan to specify allowed activities. That potential ban could affect resource exposure and regional development plans for investors with interests in Queensland mining or land assets.
What did Bank of America economists say about China’s role in global purchasing power expansion?
Bank of America economists said China’s share of global expansion measured by purchasing power parity is expected to be about 30% next year, down from roughly 35% this year.
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