Latest Insights

Cash won't move AFIC on dividend

IT MIGHT be winter in investment terms, and Australian Foundation Investment Co is notoriously conservative in its attitudes - but its decision to maintain dividend at last year's levels looks a little niggardly in light of its performance.
11yr ago

Why ANZ is faraway a better investment

There were no individual surprises in what the ANZ chief executive, Mike Smith, disclosed yesterday: the bank's expected collective "rainy day" provision was raised by another $375 million, leaving it as the most conservatively provisioned big Australian bank on this general measure, at just over 1 per cent of risk-weighted assets.
11yr ago

ANZ stock savaged after $1.2b hit

ANZ BANK'S annual profit is set fall by as much as $800 million to $3.1 billion after the company warned its second-half results would be hit by increased bad debts and soured loans.
11yr ago

Dollar slumps after debt notice

THE Australian dollar slumped yesterday as fresh details emerged of local banks' exposure to the credit crisis, fanning fears of financial slowdown.
11yr ago

Harbinger still among the bulls

PHILIP FALCONE, who heads the $US23 billion ($24 billion) US hedge fund Harbinger Capital Partners - a major investor in Fortescue Metals, Murchison Metals, Midwest, Moly Mines and Poseidon Nickel - said he remains bullish on commodities.
11yr ago

Tribunal lifts ban on Charles Abbott

A FORMER deputy chairman of HIH Insurance best known for receiving $181,000 from the insurer on the eve of its collapse has succeeded in overturning a ban preventing him acting as a director or senior executive of an insurance company. Charles Abbott was banned by the Australian Prudential Regulation Authority in February 2005 and has not worked since the collapse.
11yr ago

No getting off banking's roller-coaster

As the market continues to reverberate from the shock wave of National Australia Bank's exposure to the most toxic part of the US subprime housing loan crisis, there is one unfortunate side-effect of its announcement that investors will now have to live with.
11yr ago

Credit slowdown squeezes earnings

A GLOOMY picture of falling banking sector earnings is emerging in the wake of National Australia Bank's shock move to set aside $830 million to cover investments linked to the US subprime housing loan crisis.
11yr ago

'Ingenious set-up' let Lowys deny tax haven

THE chairman of the US Senate committee investigating tax-haven banks took a direct swipe at Westfield Group's executive chairman Frank Lowy before his son Peter Lowy appeared at a committee hearing in Washington on Friday night.
11yr ago

VICE REGAL

On Saturday, at Sydney Opera House, Their Excellencies the Governor- General Major General Michael Jeffery AC CVO MC and Mrs Marlena Jeffery, as guests of the Ambassador of the State of Israel to Australia, His Excellency Mr Yuval Rotem and Mrs Miri Rotem, attended a performance by the Israel Philharmonic Orchestra.
11yr ago

Lowys accused of stonewalling

THE chairman of the US Senate committee investigating tax haven banks took a direct swipe at Westfield Group's executive chairman, Frank Lowy, before his son Peter Lowy appeared at a committee hearing in Washington on Friday night.
11yr ago

Global investors lining up for Centro's assets

INTERNATIONAL investors are close to finalising a deal to buy the $1.16 billion Australian portfolio of Centro Properties, which includes the Bankstown and Roselands shopping centres.
11yr ago

US fund to buy local Centro assets

INTERNATIONAL investors are close to finalising a deal to buy the $1.157 billion Australian portfolio of Centro Properties, which include the Bankstown and Roseland shopping centres in Sydney.
11yr ago

Banks may follow NAB's defences

NATIONAL Australia Bank's move to shore up money to protect against losses of up to 90% of its exposure to the US housing market could spur competitors to cut into their earnings to beef up their defences.
11yr ago

CMC Markets Weekly Report

The Australian Stock Market was headed for good gains last week until Friday, when the NAB announced an $830 million provision for their portfolio of CDO's. This saw the ASX/S&P 200 sold off heavily on Friday along with the major financial stocks. However the ASX/S&P 200 managed a gain on the week of 2.6% or 130 points.

11yr ago

Lay off pension nest egg

Keeping your benefits in a capital guaranteed option will guard against losses, writes George Cochrane.
11yr ago

Wonder dog Riley banned for simply being too good

CLARE O'CALLAGHAN went to the pound looking for a pet. But she was taken not by the four-month-old kelpie pup's sweet face, but by his ability to jump 1.5 metres in the air from a standing start.
11yr ago

Spare loved ones the anguish of doing it yourself

A BUNCH of letters are about to hit your doormat: the letters from your managed fund managers. They will tell you that you lost a bunch of money last year and for the next 12 months you will bore your dinner-party guests with stories of useless, BMW-driving fund managers and their fees. It will also prompt a lot of you to think about "taking control" through a self-managed super fund structure. Nothing quite like losing money in the short term to jolt you out of your inherent trust in the long term.
11yr ago

REIV blames miscommunication for underquote

LACK of communication has been blamed for the Real Estate Institute of Victoria being embroiled in a curious underquoting deal, related to a residential development site it sold in Camberwell this week.
11yr ago

Sombre times for super. But where does default lie?

Next week we should finally know how much damage has been done to our super funds in the past year's financial turmoil. The average fund is predicted to have lost about 6 per cent of your nest egg, but returns will probably vary quite significantly around this figure.
11yr ago

New super rules a taxation puzzle

IF YOU are having trouble understanding all the new superannuation rules, you are not alone. The Tax Office is also having problems.
11yr ago

ASX raps Martyn Myer on disclosure

THE ASX has accused an investment company led by ANZ chairman Charles Goode, and whose directors include two members of Melbourne's powerful Myer clan, of a potential breach of listing rules. Martyn Myer, Its board includes Mr Goode, Mr Myer, Rupert Myer and Graeme Moir.
11yr ago

Letters

Grow up, sceptics, see bigger picture
11yr ago

ACCC gives thumbs up to merger proposal

THE success of Westpac's $15 billion bid for St George rests largely with the latter's shareholders after the competition regulator yesterday gave preliminary permission for the two banks to proceed with a merger.
11yr ago

Wealth For Toil

Australians of "high net-worth" grew in 2007, but the wealth remains concentrated among just 1% of the population.
11yr ago

The bad news bears

Australia won't avoid the effects of the global subprime crisis but our fundamentals remain sound.
11yr ago

The flight to safety

Investors fleeing the sharemarket in search of security can easily earn 8 per cent a year and sleep well at night. John Kavanagh looks at what you can get if you shop around.
11yr ago

Paperwork dull but crucial

Outsourcing of super by employers is a regular occurrence. You start off as a member in one fund and find you are transferred to another when the employer no longer wants to spend time and resources administering super.
11yr ago

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