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CSS to appoint new independent trustee

Having been folded into a new entity under Australian Administrative Service (AAS), Challenger Superannuation Service (CSS), will change its current trustee and is expected to announce the appointment of a new independent trustee within the next few ...

High fees weigh on Zurich ratings: Morningstar

Morningstar has given Zurich Financial Services' Australian fixed interest fund a 3/5 sector strength rating due to the "relatively high" fees, which it said outweigh the fund's benefits. "The relatively high fees charged for Zurich's Australian fixed ...

S&P affirms Tower ratings, upgrades outlook.

Ratings agency Standard & Poor's (S&P) have upgraded its outlook guidance on all rated Tower entities to stable from negative, S&P said today. "Tower's outlook change reflects the return to profitability in the past two halves and the steady progress ...

AMP property trust acquires Wellington buildings

Two of Wellington's best known office buildings have been bought by an AMP commercial property trust in a $146 million deal. The Mobil on the Park Building and the State Insurance Tower -- formerly known as the BNZ Centre -- have been acquired by the ...

Fitch ups News Corp rating to BBB from BBB-minus

AAP  |  FRIDAY, 28 MAY 2004
Fitch Ratings upgraded the senior unsecured debt rating for News Corp and its wholly-owned subsidiaries, News America Incorporated ("NAI") and News Corporation Finance Trust II ("Trust") to 'BBB' from 'BBB-minus'. The rating outlook is stable. News ...

Market Wrap

... data that underscored the economy's strength. Altria Group propped up the blue-chip Dow, helped by a bullish brokerage upgrade, but Cisco Systems Inc and Dell Inc were the biggest drags on the Standard & Poor's 500 and the Nasdaq. Dell, the No. 1 personal ...

ANZ receives RBNZ agreement for amalgamation

ANZ announced on Wednesday it had received written advice from the Reserve Bank of New Zealand confirming its forthcoming consent for legal amalgamation of ANZ New Zealand and The National Bank of New Zealand (NBNZ). The Reserve Bank of New Zealand's ...

Servcorp upgrades profit forecast by 35%

Serviced office provider Servcorp today said its full-year pretax profit was expected to be 35% greater than its previous guidance. "The result is recognition by small business operators of Servcorp's superior IT and business solutions," said the company's ...

Vodafone picks Nokia to build 3G in Australia, New Zealand

... the contract with Nokia, but did say "Vodafone Australia and New Zealand plan to commit substantial funding to further upgrade their networks". AAP

Tab profit upgrade values company above Tabcorp offer

AAP  |  FRIDAY, 30 APR 2004
... than the $2 billion offered by Victoria's Tabcorp Holdings by upgrading its profit forecast for the financial year. The upgrade also prompted speculation Tab was gearing up for a bid for Queensland's UNiTAB. Tab said it expected net profit after tax ...