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This Week's Market Movers (7-11 July 2008)

BENJAMIN ONG  |  MONDAY, 7 JUL 2008
... jobless rate remains low by historical standards, the trend unemployment rate series has started to turn up. Pressure on company profits brought about by higher costs - wages, raw materials and distribution - and reduced competitiveness due to the high ...

US pension fund to settle suit for $930m

RUTH LIEW  |  FRIDAY, 4 JUL 2008
... public pension fund in the US fires a warning shot against companies with lousy corporate governance when it demanded a company it invests in to re-write its CG policy and pay a $930 million cheque for wrongful share trading. The $244 billion California ...

Intech rebrands

RUTH LIEW  |  THURSDAY, 3 JUL 2008
... purple corporate colour with green, to better align with the Old Mutual brand. The new look ends a period of change for the company, which was acquired by Old Mutual at the end of 2006 and is now led by chief executive, John Gethin-Jones, who was appointed ...

Bravura broadens UK footprint

CAMERON BOGGS  |  THURSDAY, 3 JUL 2008
... MGM Advantage. This week Bravura renewed its contract with Legal & General for another three years, having provided the company with software services since 1997. Under the deal, Legal & General will continue with Bravura Solutions' Rufus Global Transfer ...

Mercer appoints India MD

MICHAEL HOBBS  |  FRIDAY, 27 JUN 2008
... Ravichander as managing director of the firm's Bangalore-based operations. Ravichander previously worked at IT services company, Perot Systems as president and managing director for India and Asia Pacific and has also held leadership positions at Oracle ...

UniSuper to use Bravura ePASS

RUTH LIEW  |  FRIDAY, 27 JUN 2008
... towards the end of 2008. "We envisage that ePASS will provide UniSuper with savings in administration time, cost to the company, and also increased accuracy for the reconciliation of contributions," said Simon Woodfull, Bravura Solutions Group chief ...

Perpetual to expand product line

MICHAEL HOBBS  |  FRIDAY, 27 JUN 2008
... launched at the end of this year and next. Meanwhile, Crowley said the firm was in the final stages of completing its company restructure which included dividing the business into four divisions; Australian shares, structured products and platforms ...

End of the world

ALEX DUNNIN  |  FRIDAY, 27 JUN 2008
... sting has to be that while the oil consuming world is bitterly complaining about oil under-supply, Libya's national oil company is now warning oversupply is prompting it to consider reducing production. Responding to the news, the US Dow Jones index ...

ASIC's Westpoint action faces delay

MICHAEL HOBBS  |  FRIDAY, 27 JUN 2008
... liquidators. In November last year, ASIC announced proceedings against Westpoint's directors, taking over the case started by the company's liquidators, PricewaterhouseCoopers. However, Carey challenged the validity of ASIC taking over the proceedings. ...

Market Wrap - Morning

AAP  |  FRIDAY, 27 JUN 2008
... Australian share market is expected to open significantly lower after US and European stocks slumped overnight on concerns that company profits will be hurt. Resource stocks may gain after commodities including oil, gold and industrial metals advanced. ...