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Virgin motors on with new chief

... Services from a loss-making business, at one point losing $50 million a year, into a profitable operation. Officially joining next month, Wakeley will spearhead the growth of Virgin Credit Cards, Virgin Superannuation and Virgin Home Loans. He is off ...

Daily economic update

BENJAMIN ONG  |  TUESDAY, 9 MAY 2006
... growth slowing and retail spending remaining robust. There is a strong likelihood that the Fed will want to pause at the next meeting in June, given these mixed readings on the economy and that interest rate settings are now at what it considers to be ...

$38bn VFMC bigger and better

... more powerful financial house after chief executive Syd Bone outlined a series of changes set to come into effect in the next financial year. Based in Melbourne, VFMC is in charge of constructing investment portfolios and selecting fund managers on behalf ...

AMP puts pedal to the metal

HAMISH MADDEN  |  MONDAY, 8 MAY 2006
... Woolworths, the Nine Network, Mistubishi and others are expected to contribute around $1.5 billion to the super coffers over the next two quarters, so the numbers look set to get even better. The sheer size of AMP's inflows and the improving investor ...

Daily Economic Update

... 'other' private sector dwellings component is a highly volatile series and is known to fluctuate wildly from one month to the next. The Reserve Bank of Australia's 25 basis point rate last Wednesday is certain to have a negative impact on the future ...

ASFA and JUST Super call for changes in the Budget

HAMISH MADDEN  |  THURSDAY, 4 MAY 2006
... Super supporting ASFA's stance against a proposal to reduce employer contributions. ASFA made the calls in the lead up to next week's Federal Budget. Philipa Smith, chief executive officer of ASFA, said the changes would increase the level of retirement ...

IOOF to merge FP with Winchcombe Carson

... IOOF Portfolio Service. Brown said FP will continue to run as a separate business, alongside Winchcombe Carson until early next financial year when the merged group will be re-branded under a new name. However, as both FP and WCFP broadly use the same ...

Daily economic update

BENJAMIN ONG  |  WEDNESDAY, 3 MAY 2006
... will be whether the RBA will lift rates again, especially following an expected expansionary Federal Budget (to be released next week) or will the rate hike (and its immediate offshoot - a stronger A$), along with high crude oil prices, slow the economy ...

Members Equity runs on with Fremantle Dockers

HAMISH MADDEN  |  TUESDAY, 2 MAY 2006
Members Equity Bank (MEB) has signed on as an official sponsor of the Fremantle Dockers AFL team for the next three years, joining other financial players in the footballing ranks. The Fremantle Football Club said that with MEB agreeing to become a ...

Quadrant gets ready as baby boomers cash in super

... has reshaped its operations in the lead up to its predominantly 'baby boomer' members entering the retirement phase in the next few years. Chief executive officer, Wayne Davy, said that the fund, which was previously a simple non-profit superannuation ...