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Markets react as antiviral drug disappoints

ALLY SELBY  |  FRIDAY, 24 APR 2020
... fall overnight. Originally reported by the Financial Times, the publisher said Gilead Sciences antiviral drug remdesivir did not reduce the coronavirus pathogen in bloodstreams, nor did it improve patients' conditions in a clinical trial in China. The ...

ASX ups capital raise capacity

ELIZA BAVIN  |  FRIDAY, 24 APR 2020
... followed by a standard rights issue as well." The ASX said the change is intended to benefit smaller listed entities that do not have a substantial base of institutional security holders and get no benefit from undertaking an accelerated offer to institutional ...

Chief economist update: Turns out Brexit was heaven

BENJAMIN ONG  |  FRIDAY, 24 APR 2020
... with the services sector plunging to a record low reading of 12.3 and manufacturing falling to a record low of 32.9. This may not be the end of it, for as Markit Economics prints in its latest report: "The response rate from members of the survey panel ...

Compliance worse than COVID-19

ALLY SELBY  |  THURSDAY, 23 APR 2020
... forward then look back each time and query the overlaps of disclosure for a cost that we cannot pass on. "Clearly ASIC have not consulted happy clients and good practices and have enjoyed the work emanating from the Royal Commission and beyond." Cavanough ...

The next big short

ALLY SELBY  |  THURSDAY, 23 APR 2020
... like the bubble in synthetic asset-backed CDOs before the Great Financial Crisis in that price-setting in that market was not done by fundamental security-level analysis, but by massive capital flows based on Nobel-approved models of risk that proved ...

Calls for super funds, government to collaborate on energy security

KANIKA SOOD  |  THURSDAY, 23 APR 2020
... shipping. We need to have capacity but if you have capacity, you still need to move it [refined oil] around Australia and not [have to be] subject to a foreign country or a company's decision on whether or not to do it," Blackburn said. Blackburn ...

Aussie ETF investors got oil bets wrong before crash

KANIKA SOOD  |  THURSDAY, 23 APR 2020
... for the first time, as COVID-19 shutdowns continue to bog down demand and traders run out of space to store oil. It's not only Australian investors that were caught wrong footed on the direction of WTI futures. In the US, investors poured over US ...

Has COVID-19 solved the advice problem?

HARRISON WORLEY  |  THURSDAY, 23 APR 2020
... they wouldn't adopt a digital meeting interface is 100% wrong. "They absolutely love it." Dillon pointed out the crisis had not only pushed advice into the homes of clients by way of digital meetings, but it brought clients into the homes of advisers. ...

The blame game

ELIZA BAVIN  |  THURSDAY, 23 APR 2020
... pressure to perform, at the very least, in line with their peers so risk-taking or alternative approaches to investing were not encouraged. In February, when markets entered a period of volatility not seen by many in this lifetime, the ASX lost an initial ...

Few redundancies but pay cuts abound: Recruiter

ELIZABETH MCARTHUR  |  THURSDAY, 23 APR 2020
... measures super funds are "busier than ever", Gordon said. He hasn't seen any redundancies at all in super. The pay cuts are not necessarily bad news, rather, businesses are hoping to avoid making redundancies - a sign that there is faith things will ...