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BENJAMIN ONG  |  THURSDAY, 9 AUG 2012
It's still many, many sleeps before Christmas yet last night seems to be "the night before Christmas, when all through the house, not a creature was stirring, not even a mouse." Financial markets generally marked time while we slept, unstirred by fresh ...

Market Wrap

AAP  |  THURSDAY, 9 AUG 2012
... European stock markets turned in mixed results as investors booked profits following three days of gains, though the scandal-hit bank Standard Chartered rebounded from heavy losses. Market sentiment was fairly subdued as traders looked ahead to the release ...

Generations split on what causes sleepless nights

MARK STORY  |  WEDNESDAY, 8 AUG 2012
... markets and the global economy post-GFC. Regardless of age, she said all generations agreed that a lack of savings in the bank is the biggest factor keeping them awake at night. The two biggest financial nightmares for Gen Ys were not having enough money ...

Australians lack genuine banking sector competition

MARK STORY  |  WEDNESDAY, 8 AUG 2012
Results of a recently released banking survey suggest that most Australians think the Big Four Banks don't genuinely compete. According to an Essential Report survey of over 1,000 respondents, 66% of Australians said consumers would get a better deal ...

Super to eclipse banks as primary lender: Cooper

MARK STORY  |  WEDNESDAY, 8 AUG 2012
Superannuation funds may have more money to lend than banks in under a decade, and could play a larger role in corporate lending than the corporate bond market, said Jeremy Cooper, architect of the government's Cooper Review. He expects banks, currently ...

Mercer: Stronger Super adds pressure on funds

LINDA HAUSKEN  |  WEDNESDAY, 8 AUG 2012
The compliance and cost burden created by Stronger Super reforms will put unprecedented pressure on the Australian corporate super fund industry, according to Mercer. Mercer said since the inception of compulsory super, the number of corporate super ...

MLC appoints head of client succession

LINDA HAUSKEN  |  WEDNESDAY, 8 AUG 2012
... responsibility for MLC's key Connect 4 Growth program. Arnold has a longstanding association with NAB and has worked with the bank for the last 20 years and was most recently regional credit executive in its New South Wales Business Banking division. ...

Super funds look to banks on social media

MELANIE TIMBRELL  |  WEDNESDAY, 8 AUG 2012
... organisations are using social media as both a marketing and customer service channel," the report said, citing NAB-owned online bank UBank as a case in point. The report looks at UBank's Facebook page which has a forum for product suggestions and feedback ...

Brierley bids for wound-down scheme

BEN COLLINS  |  WEDNESDAY, 8 AUG 2012
... offer. The fund's responsible entity, Adelaide Managed Funds Limited, is a wholly owned subsidiary of Bendigo and Adelaide Bank.

CFS names new executive manager

LINDA HAUSKEN  |  WEDNESDAY, 8 AUG 2012
The Commonwealth Bank's group executive wealth management, Annabel Spring today announced the appointment of Linda Elkins as the new executive general manager of Colonial First State. Prior to her new role, Elkins was general manager of marketing and ...