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Daily economic report

PETER BELL  |  THURSDAY, 10 AUG 2006
The US Federal Reserve held interest rates firm last night at 5.25 per cent after 17 consecutive rate increases since June 2004, a result of rising energy and labour costs. The June quarter data showed that the annualised pace of growth halved to 2.5 ...

Market wrap

AAP  |  THURSDAY, 10 AUG 2006
The share market is expected open lower following significant falls on Wall Street. On the Sydney Futures Exchange, the September share price index contract was down 47 points at 4,903. Today, Telstra Corporation, Futuris Group and Investa Property ...

IOOF's head of retail funds departs

KATE HAGE  |  WEDNESDAY, 9 AUG 2006
... internal investigations, which he said should be seen as an example of quality and "controlled" internal governance practices. "Yes we did have an internal investigation, that finished last week," said Dewhurst. "No money was lost and no one was dismissed. ...

Market wrap

AAP  |  WEDNESDAY, 9 AUG 2006
The share market is expected open lower on a negative lead from Wall Street and weaker commodity prices. On the Sydney Futures Exchange, the September share price index contract was down 11 points at 4,977. Today, News Corporation, Commonwealth Bank ...

St.George buys HSBC's margin lending

HAMISH MADDEN  |  TUESDAY, 8 AUG 2006
St.George Bank yesterday acquired the margin lending business of HSBC Bank Australia. HSBC margin loan clients will become St.George customers effective immediately and the total transition is expected to be completed by mid-September. The HSBC margin ...

Market wrap

AAP  |  TUESDAY, 8 AUG 2006
The share market is expected open marginally lower as a negative lead from Wall Street triggered by a spike in the oil price is offset by higher commodity prices. On the Sydney Futures Exchange at 0658 AEST, the September share price index contract ...

Private equity cash cow keeps growing

KATE HAGE  |  FRIDAY, 4 AUG 2006
Private equity was being promoted yesterday as the major alternative source of returns for fund managers with the promise of returns as high as 31 per cent year on year over 20 years. According to founder and executive chairman of CHAMP Private Equity ...

Labor unveils plan to export financial services

KATE HAGE  |  FRIDAY, 4 AUG 2006
Kevin Rudd, Shadow Minister for Foreign Affairs and Trade and International Security, won a lot of votes from a hardened crowd at yesterday's annual Investment and Financial Services Association (IFSA) conference by unveiling a plan to rebuild Australia's ...

Market wrap

AAP  |  FRIDAY, 4 AUG 2006
The share market is expected to open weaker, following a surprise lift in rates by the Bank of England (BOE) and the European Central Bank (ECB). On the Sydney Futures Exchange at 0738 AEST, the September share price index contract was down 11 points ...

ASIC defends AMP FP action

KATE HAGE  |  THURSDAY, 3 AUG 2006
Australian Securities and Investments Commission (ASIC) chairman, Jeffrey Lucy, defended the regulator's decision to avoid a court action in preference of handing out an enforceable undertaking to AMP Financial Planning yesterday, flagging an increased ...