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MyState builds momentum with Rock merger

MATT WOODINGTON  |  WEDNESDAY, 31 AUG 2011
... valued at $2.71 with shareholders set to receive 7.75 MyState shares for every 10 shares of The Rock. The deal, subject to close by December 2011, will be earnings per share accretive for MyState on a net profit after tax and cash basis in the first ...

Market Wrap - Midday

AAP  |  WEDNESDAY, 31 AUG 2011
... higher, according to Iress data. The spot price of gold in Sydney was $US1,833 per ounce, up $36.85 from Tuesday's local close of $US1,796.15 per ounce. Wall Street closed higher as market players greeted positively the minutes of the US Federal Reserve ...

Market Wrap - Morning

AAP  |  WEDNESDAY, 31 AUG 2011
... year results. In Australia, the market on Tuesday closed up 5.9 points, after Australian stocks pared back earlier gains to close marginally stronger on Tuesday with investors awaiting firmer direction from economic events offshore. The S&P/ASX200 index ...

Australian Capital Reserve directors plead guilty

MATT WOODINGTON  |  TUESDAY, 30 AUG 2011
... of ACR's parent company, Castle Investment Company and Estate Property Group (EPG), formerly CIC. According to ASIC, the close to $7.5 million profit before tax that CIC stated as at December 31 2003, was inflated. Pogson also pleaded guilty to making ...

Market Wrap - Midday

AAP  |  TUESDAY, 30 AUG 2011
... was up five cents at $2.08. The spot price of gold in Sydney was $US1,796.06 per ounce, down $21.82 from Monday's local close of $US1,817.88 per ounce. National turnover at 1210 AEST was 1.23 billion securities changing hands for $1.94 billion. Some ...

Market Wrap - Morning

AAP  |  TUESDAY, 30 AUG 2011
... Hurricane Irene caused less damage than feared. The Dow Jones Industrial Average was up 254.71 points (2.26 per cent) to close at 11,539.25. The broader S&P 500 surged 33.28 points (2.83 per cent) to 1,210.08, while the tech-heavy Nasdaq Composite shot ...

Industry body applauds move to define financial planners

MATT WOODINGTON  |  MONDAY, 29 AUG 2011
The government will release a public consultation paper on defining the term 'financial planner' by law, obliging advisers to prove their credentials before offering services to clients. The Treasury has drawn praise from industry bodies for announcing ...

Market Wrap - Morning

AAP  |  MONDAY, 29 AUG 2011
The Australian market looks set to open higher if it follows Friday's international lead, despite closing lower on Friday. At 0736 AEST on Monday, the September share price index futures contract was up 21 points at 4,200. In economic news on Monday ...

Market Wrap - Midday

AAP  |  FRIDAY, 26 AUG 2011
... had lost 39 cents to $69.34. The price of gold in Sydney was $US1,762.8 per fine ounce, up $US17.10 from Thursday's local close at $US1,745.70. National turnover was 906.3 million shares worth $3.7 billion, with 358 stocks up, 404 down, and 314 stead ...

IFM hits back at claims it plays politics with super fund money

ALISON BEVEGE  |  FRIDAY, 26 AUG 2011
... MTAA Super, Cbus and HESTA. Industry superannuation funds, which have union appointees on their boards, are seen as having close links to the Labor Party. IFM, whose chairman is former-ACTU political heavyweight Garry Weaven, invests 36% of its $4.25 ...