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Market Wrap - Morning

AAP  |  THURSDAY, 13 MAY 2010
... WELLINGTON - The New Zealand share market drifted lower in quiet trading as investors adopted a wait and see attitude to next week's budget. The benchmark NZX-50 index closed down 10.95 points, or 0.35 per cent, at 3,156.08. Turnover was worth $NZ109.2 ...

Govt to inject $25m into 'best practice' regulation

MICHELLE BALTAZAR  |  WEDNESDAY, 12 MAY 2010
The government will pump up to $25 million over four years into a new centre that will teach and train the next generation of financial regulators in Australia while building ties with the regulatory powers-that-be in Asia. Speaking at a post-Budget ...

Budget underwhelms planning groups

MICHAEL HOBBS  |  WEDNESDAY, 12 MAY 2010
... co-contribution to $1,500 as promised in last year's budget and the freezing of the income 'eligibility' thresholds over the next two years," he said. "This measure will reduce the eligibility for low income earners as well as reduce the incentive to ...

Do nothing budget

BENJAMIN ONG  |  WEDNESDAY, 12 MAY 2010
... GFC, the Budget papers predict the Australian economy to expand by 3.25 per cent in fiscal year 2010/11 and 4 per cent the next after growing by 2 per cent this year. The unemployment rate is forecasts to decline from 5.25 per cent this year to 5 per ...

ME Bank inks Telstra deal

MICHELLE BALTAZAR  |  TUESDAY, 11 MAY 2010
... Under the deal, Telstra will provide the bank with fixed and mobile voice and data services that will run on the Telstra Next IP and Next G networks, as well as Blackberry® devices for on-the-road employees and senior executives. Shane Kuret, executive ...

S&P downgrades Challenger Aus Share funds

MICHELLE BALTAZAR  |  MONDAY, 10 MAY 2010
... upcoming review, which will include assessment of the team's fundamental research coverage. This review is due to take place next month," said S&P Fund Services analyst, Michael Armitage, in a statement. As for the ratings downgrades, S&P Fund Services ...

INGIM senior portfolio manager resigns

RUTH LIEW  |  THURSDAY, 6 MAY 2010
... portfolio manager within the multi-manager team of ING Investment Management has resigned from his post, leaving the company next month after 12 years to join another funds management firm. Mehmet, who leaves the firm on 25 June, has been with INGIM ...

Global Sovereign Crisis

BENJAMIN ONG  |  THURSDAY, 6 MAY 2010
... here comes Moody's with its own doom and gloom message. It warned that it might downgrade Portugal's Aa2 debt rating in the next three months. This scared the financial markets. The same thing happened last week when Standard & Poor's downgraded Greece ...

PM repeats calls to make Australia a fin services hub

At an industry forum yesterday, the Prime Minister Kevin Rudd talks about the next wave of superannuation reforms and the critical role the financial services sector play in the national economy. He said the reforms are the most significant set of reforms ...

Too clever by half

BENJAMIN ONG  |  TUESDAY, 4 MAY 2010
... What's a done deal is more interest rate increases by the Reserve Bank of Australia - if not today - then at their meeting next month or the month after. Someone is also being too clever by half in the United States. Introducing...the man who needs no ...