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Financial planning is key: Westpac

MICHAEL HOBBS  |  WEDNESDAY, 22 JUL 2009
Westpac chief executive and managing director, Gail Kelly, said in a briefing yesterday that the bank's financial planning business is central to Westpac's multi-brand strategy. Speaking at the Trans-Tasman Business Circle lunch briefing, Kelly said ...

Director to plead guilty for insider trading

ASIC RELEASE  |  WEDNESDAY, 22 JUL 2009
A former director of Lion Selection has appeared in the Melbourne Magistrate's Court to face charges of insider trading - and has indicated to the court that he would plead guilty to the charge. John O'Reilly of Twickenham, London, appeared in the Melbourne ...

The market's next 800-pound gorilla

MICHELLE BALTAZAR  |  TUESDAY, 21 JUL 2009
Shadow Treasurer Joe Hockey said the Government is creating an "800-pound gorilla" in the market that could drive up the cost of financing for the private sector over the next few years - particularly if more government bonds are issued to fund its ...

Jumping at shadows no more

BENJAMIN ONG  |  TUESDAY, 21 JUL 2009
... what businesses have been doing to adjust to the new reality of the receding economy. And have you seen the profit results? Yes, that's why they earnings are improving now. Businesses have reduced costs and ran down their stocks. These may continue for ...

Another dead feline bounce

BENJAMIN ONG  |  THURSDAY, 16 JUL 2009
... Similarly, last night's US industrial production report did not paint a rosy picture - it fell another 0.4 per cent in June. Yes, it was better than the expected 0.6 per cent decline. But wait. Look again. Industrial output fell 13.6 per cent over the ...

Market Wrap - Midday

AAP  |  WEDNESDAY, 15 JUL 2009
The Australian share market was over one per cent higher at noon led by the resources and financial sectors and a surge on Wall Street overnight. At 1200 AEST, the benchmark S&P/ASX200 index was up 41.2 points, or 1.07 per cent, at 3908.3 points, while ...

Positive surprise beats Meredith's surprise

BENJAMIN ONG  |  WEDNESDAY, 15 JUL 2009
... 500 closed 0.5 per cent higher and the Dow was up 0.3 per cent. Nothing to write home about but certainly worth an email. Yes, worth an email because the previous day's strong rally - given the performance of the past few weeks -- has increased the likelihood ...

Prescriptive regulation is not the answer: Tanner

MICHAEL HOBBS  |  TUESDAY, 14 JUL 2009
Future financial services regulation should be flexible to deal with new problems as they arise but not invasive or prescriptive, said Lindsay Tanner, minister for finance and deregulation. Speaking at the International Corporate Governance Network ...

MacarthurCook CEO resigns

COMPANY RELEASE  |  TUESDAY, 14 JUL 2009
Craig Dunstan, founder and managing director of MacarthurCook, has resigned following the firm's acquisition by AIMS Securities Holdings. Dunstan resigned yesterday, and sold all of his shares not subject to escrow to AIMS under the bid. Dunstan founded ...

Meredith Whitney

BENJAMIN ONG  |  TUESDAY, 14 JUL 2009
... Meredith Whitney Advisory Group, gave Wall Street what they wanted. She issued a "buy" recommendation on Goldman Sachs one day - yes one day - before GS releases its earnings report. To be sure, Graham Bowley and Jenny Anderson of the New York Times ...