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AMP pays top nine execs $18 million during 2003

AMP's top nine executives received a combined $18 million in 2003, according to the company's annual report issued yesterday. The news follows the $5.5 billion loss, the second largest in Australian corporate history, posted by the company three weeks ...

S&P assigns AA rating to GE Mortgage Insurance

Standard & Poor's said yesterday it had assigned its AA insurer financial strength rating to Australian-based GE Mortgage Insurance. The new rating follows the announcement by GE Mortgage Insurance that it had received all necessary approvals to transfer ...

Market Wrap

AAP  |  FRIDAY, 2 APR 2004
The Australian dollar opened higher for a fifth consecutive day as the United States dollar continued to weaken. At 0700 AEST the Australian dollar was trading at $US0.7680/83 compared with yesterday's close of 0.7605/10. In the overnight session, it ...

Safer superannuation savings: Coonan

AAP  |  THURSDAY, 1 APR 2004
Australians' superannuation savings became a little safer yesterday when the Senate passed laws to safeguard the retirement nest eggs. The bill modernises and strengthens protection of superannuation savings from theft or fraud and is designed to make ...

Market Wrap

AAP  |  THURSDAY, 1 APR 2004
The Australian dollar surged after the United States dollar dropped against the euro and the yen following a disappointing report on regional manufacturing in the Chicago area. At 0700 AEST the Australian dollar was trading at $US0.7665/70 compared ...

Fraud reforms to cost much more than FSR

AAP  |  WEDNESDAY, 31 MAR 2004
The cost to Australian businesses of reforms directed at money laundering is expected to be very large and take at least three years to implement, the 2004 Australian Fraud Summit heard yesterday. Speaking on money laundering and terrorist financing ...

Vaile says trade figures take pressure off interest rates

AAP  |  WEDNESDAY, 31 MAR 2004
Figures showing Australia's trade gap with the rest of the world was narrowing indicated interest rates did not need to rise, Trade Minister Mark Vaile said yesterday. Australian Bureau of Statistics figures showed the trade deficit narrowed to $1.72 ...

Market Wrap

AAP  |  WEDNESDAY, 31 MAR 2004
The Australian dollar opened higher, tracking strength in the euro against the United States dollar and buoyed by firmer gold and base metals prices. At 0700 AEST the Australian dollar was trading at $US0.7533/41 compared with yesterday's close of 0.7491/99. ...

IOOF appoints new managing director

AAP  |  TUESDAY, 30 MAR 2004
Shares in financial services group IOOF Holdings jumped almost 3% yesterday with the appointment of former JP Morgan banker Ron Dewhurst as new managing director. Australian-born Dewhurst was most recently head of Americas for JP Morgan Fleming Asset ...

NAB calls off crisis board meeting

AAP  |  TUESDAY, 30 MAR 2004
The beleaguered National Australia Bank yesterday called off a planned crisis meeting of the bank's board so lawyers could pore over proposed resolutions put forward by dissident director Catherine Walter. A spokesman for NAB said the meeting was postponed ...