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Afternoon market wrap: AMP dumped after $896 million loss

Paul Cully Investors delivered another blow to struggling AMP today after it announced a spectacular full-year loss of $896 million, down 230% on 2001. Although the loss was well signposted, shares were still dumped, leaving AMP at $7.71 at the close ...

Sherry lashes out higher super access age report

John Fernando Nick Sherry, the Opposition Minister for Retirement Incomes and Savings, today lashed out at the federal government's reported proposal to increase the preservation age at which people can access their superannuation funds from 55 years ...

Afternoon market wrap: All Ordinaries at 42-month low

John Fernando The All Ordinaries index lost over 2% in trading today, falling to a 42-month low, reflecting the trend started overnight in all the major international markets. Wall Street lost about 2% of its value, while Japan's Nikkei index decreased ...

Wallis resigns from AMP as Batchelor payout row rumbles on

Paul Cully AMP chairman Stan Wallis has brought forward his resignation by five months, sparking a major structural rethink of the AMP board, the troubled financial services group said today. Media speculation had forced AMP to release a statement yesterday ...

Midday market wrap: All Ords down 2%

Paul Cully The All Ordinaries lost over 2% in trading today and reflected the general trend of stocks in all the major international shares markets. Wall Street lost about 2% of its shares value, while Japan's Nikkei index decreased 2.44%. Hong Kong ...

Senator Sherry attacks Liberals' super policies at ASFA meeting

John Fernando The Australian Labour Party (ALP) has attacked the federal government's policy of giving superannuation tax breaks to high income earners and not to the rest of the Australian workforce. ALP Senator Nick Sherry, shadow minister for retirement ...