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Market wrap

AAP  |  TUESDAY, 22 APR 2014
The Australian share market is trading higher after solid corporate earnings reports lifted the United States market. Lonsec senior client adviser Michael Heffernan said the local bourse was trading on a positive note after the Easter break. "The pipe-opener ...

Think tank calls to end super tax concessions

MARK SMITH  |  TUESDAY, 22 APR 2014
Australia's superannuation tax concession is too generous towards the wealthy and should be scrapped before it becomes an expensive drag on the country's finances, according to new research from the Australia Institute. The think tank said that tax ...

Super fund custody 'fee holidays' revealed

JAMES FERNYHOUGH  |  TUESDAY, 22 APR 2014
Custodians have been offering their services to superannuation funds for free in a move to undercut the competition. Financial Standard understands that Citi, for example, provided an 18-month fee holiday to HOSTPLUS, whose business it won from J.P. ...

ANZ head of aligned licensees leaves, joins van Eyk

LAURA MILLAN  |  THURSDAY, 17 APR 2014
ANZ Aligned Licensees head of operations has left the group and joined van Eyk Advice as operations manager. Former ANZ exec David Flynn will report to van Eyk director and head of strategy Paul Bray. Flynn will oversee the day-to-day management of ...

Market wrap AM

AAP  |  THURSDAY, 17 APR 2014
The Australian market looks set to open higher after Wall Street rose for its third session on positive economic news. At 0645 AEST on Thursday the June share price index futures contract was up 17 points at 5,424. March US home construction and industrial ...

FSC lobbies against super "7 year gap"

LAURA MILLAN  |  WEDNESDAY, 16 APR 2014
... The Financial Services Council (FSC) chief executive John Brogden has asked for superannuation access age to be lifted, to close the "seven year gap" with the pension age. "There is a 7 year gap between the age you can access your superannuation and ...

AIA Australia launches daily risk information for planners

STAFF WRITER  |  WEDNESDAY, 16 APR 2014
... officer Tim Tez said the decision to offer Datafeeds for XPLAN was an important development for the organisation. "We work in close partnership with advisers, and their consistent feedback has been that Datafeeds for XPLAN will help improve business ...

Market Wrap AM

AAP  |  WEDNESDAY, 16 APR 2014
... FTSE 100 ended down 0.64 per cent on Monday's closing level, at 6,541.61 points. In Paris, the CAC-40 fell 0.89 per cent to close on 4,345.35 points. Germany's DAX 30 tumbled 1.77 per cent to 9,173.71 points, as investors worried about the impact of ...

Market Wrap AM

AAP  |  TUESDAY, 15 APR 2014
The Australian market looks set to open higher after decisive rises on Wall Street following better-than-expected retail sales figures. At 0800 AEST on Tuesday the June share price index futures contract was up 25 points at 5,370. US March retail sales ...

Challenger launches CDI takeover bid

JAMES FERNYHOUGH  |  MONDAY, 14 APR 2014
... CDI, meaning unit holders are now able to sell their units. As yet Challenger Life has not specified when the offer will close. The takeover bid comes ahead of an expected merger agreement between Challenger and infrastructure specialist Access Capital ...