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General

ASFA welcomes Coonan's reassurance on co-contribution

The Association of Superannuation Funds of Australia (ASFA), a strident critic of Government policy in the wake of Tuesday’s Budget announcement, has welcomed Senator Helen Coonan's reassurance today that the Government “remains committed” to the ...

Towers Perrin blasts Government decision to "ignore" super

Towers Perrin has criticised the Federal Government’s decision to “ignore” superannuation in this year’s Budget, saying that it is a clear sign that Australia’s complex retirement system has fallen into the “politically too hard basket”...

Midday market wrap: All Ordinaries in reverse

AMP shares slid back down towards the $5.00 mark during the morning session...

Midday market wrap: AMP leads index lower

The All Ordinaries index was down 4.10 points in trading by lunch as AMP shares fell 2.5% to $5.17...

Economists welcome Government "backflip" on CGS

The Government’s decision to end the uncertainty surrounding the future of the Commonwealth Government bond market has received a guarded welcome from economists...

AXA appoints Robertson as Financial Planning national manager

AXA has appointed Paul Robertson as national manager of AXA Financial Planning, it has announced. Robertson makes the switch from St George Bank, where he was head of IFA sales...

National takes $205 million hit on wealth management business

The National Australia Bank (NAB) has announced a net profit of $1.87 billion for the six months ended 31 March, a fall of 17%, as the company reduced the value of its wealth management business by $205 million...

Morning market wrap: US shares run out of steam

US shares retreated in the wake of a terrorist attack in Saudi Arabia, indicating that investors were still sensitive to headlines unrelated to US financial or economic...

Income tax Budget gets mixed reaction

Federal Treasurer Peter Costello’s eighth Budget has drawn a mixed reaction from the financial services sector despite the inclusion of headline-friendly personal income tax cuts...

Afternoon market wrap: AMP drags index lower

The All Ordinaries continued to edge lower during the afternoon session, and was helped to a 9.10 point loss over the day as a whole by a 4.3% fall on AMP shares...