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General

Tabcorp and Jupiters to create gaming giant

Victoria-based Tabcorp and Queensland casino and hotel operators Jupiters today announced their intention to merge, creating Australia’s largest gaming group that is expected to haul in earnings of $700 million a year.

OECD calls for improvements in Australia's super tax system

Australia’s superannuation tax system is unduly complicated and a simplification of the tax rules is needed, according to the Organisation for Economic Cooperation and Development (OECD).

Economy grows by 0.4% in December quarter: ABS

The latest national accounting figures released by the Australian Bureau of Statistics (ABS) today showed that Australia’s economy grew by 0.4% for the December quarter and by 3% for 2002 as a whole.

Morningstar gives three stars to Perpetual's Barra offering

Research house Morningstar has given Perpetual Investments’ Alpha Quant offering from Barra International a three star rating.Morningstar said that a lack of emphasis on quality and sustainability of earnings from the quant model was “a potential ...

RBA keeps interest rate steady at 4.75%

The Reserve Bank of Australia (RBA) has decided to hold the interest rates steady at 4.75% following its monthly board meeting yesterday, causing the dollar to hit three-year highs against the US dollar.

ASIC extends transitional relief period for closed funds to 2010

The Australian Securities and Investments Commission (ASIC) today announced that it would extend the period of transitional relief, which would negate costs, burdens and investor protections related to transitional and registration requirements to passively-managed ...

APRA disqualifies two more superannuation trustees

The Australian Prudential Regulation Authority (APRA) today announced the disqualification of Norman Zuppicich and John Bayford from acting as responsible officers of a superannuation trustee, investment manager or custodian on the grounds that “they ...

APRA warns super trustees to be wary of investing in hedge funds

The Australian Prudential Regulation Authority (APRA) today warned the super industry about its concerns over the use of hedge funds as an investment choice.

APRA takes custody of Host-Plus funds following board disputes

The Australian Prudential Regulation Authority (APRA) today announced that it has been in active discussion with Host-Plus over several months regarding issues arising from disputes at trustee board level.

Afternoon market wrap: All Ordinaries return negative figures

The All Ordinaries shed 1.36% in trading today as Hong Kong’s Hang Seng index also decreased by 1.22% following the trend set in Wall Street where stocks took a dive yesterday.