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Market wrap AM

AAP  |  FRIDAY, 18 JUL 2014
... slated to speak at a Melbourne Press Club lunch. In Australia, the market on Thursday firmed slightly to reach its highest close in around six years, boosted by strength in the resources sector. The benchmark S&P/ASX200 index closed up 3.5 points, or ...

A BRICS R5 Bank is born

BENJAMIN ONG  |  THURSDAY, 17 JUL 2014
"Play it again, Chumbawamba"... "I get knocked down but I get up again..." Can't really stop those bargain hunters hunting for bargains on Wall Street, 'ey? Not even with the previous day's headlines talkin' 'bout the Fed saying that those bargains ...

Market Wrap AM

AAP  |  THURSDAY, 17 JUL 2014
... 2,013.48. Shanghai eased 0.15 per cent, or 3.08 points, to 2,067.28 while Hong Kong added 0.27 per cent, or 63.32 points, to close at 23,523.28. China's National Bureau of Statistics said the economy grew 7.5 per cent in April-June thanks largely to ...

Hedge funds risk collapse without middle office upgrades

MARK SMITH  |  WEDNESDAY, 16 JUL 2014
Hedge funds are under increasing pressure to beef up their middle office operations as result of increased institutional investor scrutiny of manager reporting and disclosure standards, according to global post-trade technology provider Omgeo. Hedge ...

Market Wrap AM

AAP  |  WEDNESDAY, 16 JUL 2014
... Tuesday compared to Monday's closing levels to settle at 4,305.31 points. London's FTSE 100 index lost 0.53 per cent to close at 6,710.45 points while Frankfurt's DAX 30 dipped 0.65 per cent to 9,719.41. Shares lost ground after Fed Chair Janet Yellen ...

CFMEU organiser posed as Cbus employee

JAMES FERNYHOUGH  |  TUESDAY, 15 JUL 2014
... millions into Cbus and other funds over the years." He said the union "didn't care how much we paid, they were going to close us down anyway." O'Neill said his employees asked Lis-Con to switch to a new default super fund "after all the leaks" from C ...

FSI zeroes in on vertical advice and retirement income

LAURA MILLAN, JAMES FERNYHOUGH  |  TUESDAY, 15 JUL 2014
... for change. The inquiry is seeking feedback on these observations and is opening a second round of submissions, which will close on August 26, 2014. The inquiry will also hold public forums in August in Sydney, Melbourne, Brisbane and Perth in the coming ...

Sustaining confidence in the Australian financial system: Murray

DAVID MURRAY  |  TUESDAY, 15 JUL 2014
Financial System Inquiry (FSI) chairman David Murray spoke at the National Press Club following the release of the FSI interim report. "Thank you to the National Press Club for the interest you have shown in today's release of the interim report of ...

Planners in urgent need of better tech: research

LAURA MILLAN  |  TUESDAY, 15 JUL 2014
Financial advisers believe there is still room for technological improvements that would assist them in running their business more efficiently, an Investment Trends report found. Planners could benefit from better technology across the board, from ...

Market Wrap AM

AAP  |  TUESDAY, 15 JUL 2014
... for interest rates. London's benchmark FTSE 100 index nonetheless dropped 0.30 per cent to stand at 6,718.04 points at the close. Frankfurt's DAX 30 edged 0.36 per cent into the black however, at 9,808.20 points and the CAC 40 in Paris added 0.40 per ...