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Macq trust sells US property

COMPANY RELEASE  |  FRIDAY, 17 JUL 2009
The Macquarie CountryWide Trust has sold 86 US based properties for a gross $1.6 billion, which represents four fifths of the trust's assets in the country. The deal, when closed, will remove $1.3 billion of US domiciled commercial mortgage backed security ...

Market Wrap - Morning

AAP  |  FRIDAY, 17 JUL 2009
The Australian sharemarket is expected to continue the week's gains, following another positive day on Wall Street on corporate earnings reports. At 0730 AEST on the Sydney Futures Exchange, the September share price index contract was 31 points higher ...

Market Wrap - Morning

AAP  |  THURSDAY, 16 JUL 2009
... conference concludes in Brisbane. On Wednesday, resources and banking stocks drove the Australian share market to its highest close this financial year. The benchmark S&P/ASX200 index closed up 57.4 points, or 1.48 per cent, at 3924.5 points, while the ...

Hong Kong cracks down on Lehman Bros

RUTH LIEW  |  WEDNESDAY, 15 JUL 2009
... failed bank still under disciplinary consideration within the Chinese state. HKMA announced last Friday that there were still close to 1,000 cases under disciplinary consideration by the regulator. These cases have already undergone detailed investigation ...

Push for redemption freeze lifts: PASL

COMPANY RELEASE  |  WEDNESDAY, 15 JUL 2009
Super fund trustees should not be afraid to challenge redemption freezes and question the validity of the Responsible Entity model if it's in their members' interests, said Professional Associations Superannuation Fund (PASL). PASL made the comments ...

Positive surprise beats Meredith's surprise

BENJAMIN ONG  |  WEDNESDAY, 15 JUL 2009
And it's off...and they're running. The second quarter US earnings reporting season is off...and so far, company results are running ahead of expectations. Wall Street continued to travel night while we were sleeping. The S&P 500 closed 0.5 per cent ...

Market Wrap - Morning

AAP  |  WEDNESDAY, 15 JUL 2009
... 0.36 per cent, to 1,799.73 while the broad-market Standard & Poor's 500 index gained 4.79 points, or 0.53 per cent, to a close of 905.84. LONDON - Europe's leading stock markets rose after strong US bank earnings and the release of economic data, but ...

UniSuper activates fair value clause

RUTH LIEW  |  TUESDAY, 14 JUL 2009
The $21 billion UniSuper has initiated a clause that allows trustees to reduce defined benefit members' benefits - if necessary - following the GFC to provide fair value payments. UniSuper announced online on 7 July that it had decided to initiate "Clause ...

Meredith Whitney

BENJAMIN ONG  |  TUESDAY, 14 JUL 2009
Meredith Whitney is the name, don't wear it out! It took just one woman with gumption to whip Wall Street back in the right direction. US President Obama, displaying his inherent gift of the gab, was ignored. So were US Treasury Timmy Geithner and Ben ...

Market Wrap - Morning

AAP  |  TUESDAY, 14 JUL 2009
... points, or 2.12 per cent, to 1,793.21 and the broad Standard & Poor's 500 index advanced 21.92 points, or 2.49 per cent, to a close of 901.05. LONDON - European stocks soared, spurred on by the financial sector, as investors awaited quarterly earnings ...