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General

Zurich appoints ex-Deutsche economist as director of investments

Zurich Financial Services Australia (ZFSA) has appointed former Deutsche Asset Management chief economist Matthew Drennan as its director of investments, it has announced.

Financial services urged to obtain their AFS licenses soon

The Australian Securities and Investments Commission (ASIC) today reminded all financial service providers that they must obtain their Australian financial services (AFS) licence in time if they are to continue operating beyond March 10 2004.

Macro hedge funds gain from rising gold, falling dollar:Hennessee

Hedge fund managers with a Macro approach to the markets have been able to return 4.30 per cent so far this year, according to New York-based hedge fund advisory firm Hennessee.

Afternoon market wrap: AMP shares sink below $6.00 mark

The All Ordinaries recovered in trading this afternoon to post smaller losses than expected.

Morning market wrap: All Ordinaries under pressure

The All Ordinaries will come under pressure in early trade as investors react to another day of heavy losses on the world’s equity indices.

Westfield Trust buys Sydney Central Plaza for $390 million

Westfield Trust, Australia’s largest listed property trust, has bought Sydney Central Plaza from Coles Myer for $390 million, Coles Myer said today. The deal represents a record for sale for a retail property sale in Australia.

Afternoon market wrap: AMP, Commonwealth lead the All Ords lower

The All Ordinaries lost some territory in trading today, with AMP falling $0.21 to close at a new low of $6.30.

AMP in damage limitation mode after Moody's downgrade

AMP chief executive officer Andrew Mohl has moved to reassure investors that the future of the financial services giant remains sound despite today’s announcement from Moody’s that it has assigned a ‘negative outlook’ to its long term ratings

ASIC "disappointed" with fundraising non-disclosures

The Australian Securities and Investments Commission (ASIC) announced today that it had issued 51 interim stop orders and eight final stop orders on prospectuses or Offer Information Statement (OIS) since July 1 2002

Coles Myer and Westfield in record $390 million property deal

In a record sale for an Australian retail property, Coles Myer announced today that it had sold Sydney Central Plaza to Westfield Trust for $390 million.