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Market wrap AM

AAP  |  TUESDAY, 1 JUL 2014
The Australian market looks set to open higher despite a mixed performance on Wall Street following a jump in US pending home sales and General Motors' announcement of another massive car recall. At 0645 AEST on Tuesday, the September share price index ...

ATO closing in on undisclosed offshore income

MARK SMITH  |  MONDAY, 30 JUN 2014
The Australian Taxation Office (ATO) is mining data to track down people with undisclosed offshore income and assets. The ATO is examining information from a range of sources including: data from overseas tax authorities on Australians with offshore ...

Henderson set to acquire US fund manager Geneva

MARK SMITH AND AAP  |  MONDAY, 30 JUN 2014
Henderson Global Investors has entered into an agreement to acquire the entire issued share capital of Geneva Capital Management (Geneva). Henderson said taking over Geneva - with its $US6.3 billion ($A6.82 billion) assets under management (AUM) in ...

Latest Financial Standard issue available on the iPad app

STAFF WRITER  |  MONDAY, 30 JUN 2014
In the latest edition of Financial Standard we look at the recent regulatory changes that have removed some of the barriers to the Australian corporate bond market and investigate why Australia is still behind its international peers in getting involved ...

New compass needed for global economy: BIS

NATHALIE OLOF-ORS, AAP  |  MONDAY, 30 JUN 2014
Countries must dramatically rethink strategies for avoiding and dealing with financial crises, the Bank for International Settlements says, urging far more focus on fighting debt. The Swiss-based BIS -- dubbed the central bankers' central bank -- has ...

US bond yields zipped by ZIRP?

BENJAMIN ONG  |  MONDAY, 30 JUN 2014
A trading day short of six months into 2014 and yields on 10-year US government benchmark bonds have dropped to 2.54% -- exactly 50 basis points below the 3.04% they were fetching at the birth of 2014. What's interesting Virginia, is that this is happening ...

GBST launches SuperStream gateway

JAMES FERNYHOUGH  |  FRIDAY, 27 JUN 2014
GBST has launched its SuperStream Gateway for superannuation rollover and contribution transactions in time for the new requirements on 1 July. The gateway allows employers to make automated contributions to super funds and allow super funds to automate ...

Senate report, a turning point for advice industry

LAURA MILLAN  |  THURSDAY, 26 JUN 2014
The financial services industry is at a turning point after the Senate Economics Committee report stressed the need for dramatic changes in the way the advice sector operates. The Financial Planning Association (FPA) said that "Australia's complex financial ...

Morningstar re-jigs Australasian team

HARRY PAGE  |  THURSDAY, 26 JUN 2014
... director of manager research ratings after seven years with the firm. Whitelaw will work alongside director of manager research Tim Murphy. He will be responsible for managing the research team and schedule and chairing the ratings commission. Both Whitelaw ...

Retail funds also guilty of 'Compare the Pair' vagueness

JAMES FERNYHOUGH  |  THURSDAY, 26 JUN 2014
BT and ANZ may need to follow Industry Super Australia (ISA) in clarifying the language of their superannuation advertising campaigns, following a ruling by the Australian Securities and Investments Commission (ASIC) over use of the term 'average' in ...