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Banks will struggle to profit from super: Sunsuper CEO

JAMES FERNYHOUGH  |  WEDNESDAY, 23 JUL 2014
Banks are going to find it increasingly difficult to make money out of superannuation as the downward pressure on fees continues, according to Sunsuper chief executive Scott Hartley. Hartley said MySuper and increasing transparency - as well as scrutiny ...

Market wrap

AAP  |  WEDNESDAY, 23 JUL 2014
... jumped 35 cents to $42.21. CMC chief market strategist Michael McCarthy hoped the early gains would continue through to the close. "One of the features of trading over the last few days... is that the opening impulse has faded over the course of the ...

Bravura adds new global product development role

MARK SMITH  |  WEDNESDAY, 23 JUL 2014
Bravura Solutions has appointed John Waddy, its current chief operating officer for EMEA wealth management, to a new global product development role with responsibility for the delivery of Sonata across EMEA and APAC. In his new role, Waddy will oversee ...

Arrows and more arrows

BENJAMIN ONG  |  WEDNESDAY, 23 JUL 2014
... breached the record high it reached on 3 July (1985.44) in intra-day trade to 1986.24 points but gave back some of its gains to close a still strong 1983.53 points - you can never be sure if geo-political risk escalates again tomorrow, you know. The ...

Market wrap AM

AAP  |  WEDNESDAY, 23 JUL 2014
The Australian market looks set to open higher following strong gains on international markets as investors welcomed news pro-Russian rebels had handed over the black boxes from the downed Malaysia Airlines flight MH17. At 0645 AEST on Wednesday, the ...

Another October to remember?

BENJAMIN ONG  |  TUESDAY, 22 JUL 2014
... After falling by as much as 0.6% in early trade, the S&P 500 index started moving on up before lunchtime (New York time) to close just 0.2% down. I understand if you're sick of reading this - as I am typing it - but this would be the state of play for ...

Market Wrap AM

AAP  |  TUESDAY, 22 JUL 2014
... geopolitical concerns after last week's downing of a Malaysian airliner in Ukraine. Sydney added 0.15 per cent, or 8.2 points, to close at 5,539.9 and Seoul was marginally lower, dipping 0.92 points to 2,018.50. Shanghai lost 0.22 per cent, or 4.59 points ...

Down one day, dip buying the next

BENJAMIN ONG  |  MONDAY, 21 JUL 2014
... determining those responsible for the downing of MH17 and Israelis and Palestinians were still murdering each other - at the close of last week's trade. Yet, and yes, the dip buyers pounced... sending the S&P 500 index up by 1.0% on the 18th. Bloomberg ...

Market wrap PM

AAP  |  FRIDAY, 18 JUL 2014
Australian shares are lower at noon following the Malaysia Airlines flight MH17 crash in Ukraine. Wall Street retreated sharply off the back of the news overnight. The Dow Jones closed 161.39 points, or 0.94% A lower to 16,976.81 after reaching a record ...

Are super funds the new shadow banks?

JAMES FERNYHOUGH  |  FRIDAY, 18 JUL 2014
... and then you ask, well how do I do it? And they say, 'Well, it's frightfully convenient because I also happen to run/have close links to an asset management fund as well." He pointed out that at an infrastructure conference in Sydney this week organised ...