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General

Costello refuses to be drawn on rising dollar implications

The rise of the Australian dollar was due to a “correction” in the market, Federal Treasurer Peter Costello said today...

S&P raises ratings on Promina subsidiaries

Standard & Poor's Ratings Services has raised the ‘insurer financial strength’ and ‘counter-party credit’ ratings on Promina Group’s principal general insurance subsidiaries to A from A-minus...

Midday market wrap: All Ordinaries heads north

Gains across the major banks helped lift the All Ordinaries index to a 16.10 point gain by lunch. Westpac led the way, adding $0.17...

Moody's may downgrade ART following Westfield takeover offer

Moody's Investors Service is continuing its review – for possible downgrade – of the A1 long-term senior unsecured rating of AMP Shopping Centre Trust (ART)...

Midday market wrap: Tower plunges 32.7% after loss warning

Trans-Tasman financial services group Tower plummeted 32.7% during the morning session as anxious investors dumped the stock after the company flagged a likely half-year loss in excess of NZ$180 million ($161 million)...

Kiwi Income Property Trust to buy Plaza for $22.25 million

Kiwi Income Property Trust has successfully raised NZ$25 million ($22.25 million) through a placement of 23.58 million shares at $0.94 per unit to fund the acquisition...

FPA launches financial literacy workbook for teenagers

The Financial Planning Association (FPA) today launched a financial literacy workbook for Australian teenagers...

Macquarie establishes Canadian infastructure fund

Macquarie Bank has established Canada's first private infrastructure partnership...

Tower issues $161 million half-year loss warning

Trans-Tasman financial services group Tower has announced an expected loss of “in excess” of NZ$180 million ($161 million) when it releases its half-year results on May 28...

Morning market wrap: Terror alert unnerves Wall St

The Dow Jones index recorded its third consecutive day of losses-albeit fractional-as the US government raised its terror alert to ‘orange’...