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Daily Economic Round Up

PETER BELL  |  FRIDAY, 10 NOV 2006
The Monash University Centre for Economics of Education and Training has produces a report funded by the Dusseldorp Skills Forum that has found that there are about 540,000 young Australians not in full-time work or learning. Of this number 330,000 ...

Broker gets jail term for forgery

A former options advisor and stockbroker has been sentenced to two and a half years in prison on 27 forgery charges and for trading $1.28 million worth of his clients' shares without their knowledge. In a case bearing some resemblance to the now infamous ...

The manager matters in private equity: Unigestion

HAMISH MADDEN  |  FRIDAY, 10 NOV 2006
With all the noise around private equity, many institutional investors are all ears for how they can jump aboard the PE freight train. European buyout specialist Unigestion has highlighted some of the distinct opportunity sets for Australian investors ...

A kingdom for my castle

Home-owners could benefit from a new web service www.sellmycastle.com.au which allows them to describe their property online and invite real estate agents to bid for the sale contract, a novel European-based concept that was launched in Australia this ...

Market wrap - midday

AAP  |  THURSDAY, 9 NOV 2006
The Australian stock market was weaker at noon with the big miners dragging the bourse into negative territory. At 1200 AEDT the benchmark S&P/ASX200 index lost 34.5 points at 5424.7, while the all ordinaries shed 30.7 points to 5394.4. On the Sydney ...

AFS begins restructure

HAMISH MADDEN  |  THURSDAY, 9 NOV 2006
Australian Financial Services Group (AFS) is about to undergo a major restructure that is designed to underpin the future success of the group. AFS chief executive officer, Peter Daly, said that the restructure was aimed at building a business model ...

Westpac appoints NZ chief

Westpac has appointed GE Capital Bank chairman, Brad Cooper, as chief executive officer for Westpac New Zealand to replace current chief, Ann Sherry. Ann Sherry said she wanted to return to Australia when her term ends in early 2007. "For four years ...

Market wrap - morning

AAP  |  THURSDAY, 9 NOV 2006
The Australian sharemarket is expected to open firmer following a strong Wall Street rise. On the Sydney Futures Exchange at 0740 AEDT, the December share price index contract was up 13 points at 5,456. Today, News Corp releases its first quarter results ...

Daily economic round-up

PETER BELL  |  WEDNESDAY, 8 NOV 2006
The Reserve Bank of Australia has decided to increase interest the cash rate by 0.25 basis points to 6.25 per cent saying that it took note of the likely economic effects of the drought on farm and national income. The RBA said that domestic demand ...

HESTA cranks up insurance for members

HAMISH MADDEN  |  WEDNESDAY, 8 NOV 2006
The Health Employees Superannuation Trust of Australia (HESTA) has announced it is rolling out sweeping insurance improvements to its 550,000 members. The improvements include more cover for those in the 40-55 age group, better and cheaper coverage ...