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General

InvestorWeb Limited reports half-year net loss of $472,000

InvestorWeb Limited (IWL) today announced a net loss of $472,000 for the six-month period to December 31 2002.

Challenger's Beston Wine Trust toasts $2.37 million profit

The Beston Wine Industry Trust (BWI) today announced that its net profits had increased by 30.3% to $2.37 million for the six months to December 31 2002.

Housing approvals fall by 2.1% in January: ABS

The total number of dwelling units approved for building in January fell by 2.1 per cent to 13,283 compared to December 2002, the Australian Bureau of Statistics (ABS) said today, further evidence of a slowdown of the property boom.

Planners concede need for tighter policing: Adviser Ratings

Financial planners are almost unanimously in agreement that the policing and regulation of their own industry needs to be improved, according to a survey released today by Queensland-based research group Adviser Ratings.

Afternoon market wrap: All Ordinaries in drift mode

The All Ordinaries index spent the day going nowhere fast, drifting 4.60 points lower as the dominant ‘wait-and-see’ position of cautious investors during recent weeks again coming into play.

The value of bonds: Brumby defends the role of government debt

Victorian State Treasurer John Brumby has weighed in on the debate surrounding government bonds, arguing that government borrowing provides both flexibility for Australian investors and maintains the country’s international standing.

Deakin targets May launch for corporate super product

Deakin Financial Services is targeting a May launch for its entry into the corporate superannuation market, general manager of technical services Dan Parry said today.

Midday market wrap: All Ordinaries heads south, AMP steadies

The All Ordinaries drifted 0.44% lower in trading this morning following the trend set on Wall Street overnight. Under-fire AMP at last found some support following recent sharp falls, moving $0.01 higher to $6.78.

Morning wrap market wrap: US shares fall back into the red

Shares on Wall Street finished lower overnight as the likelihood of avoiding war diminished, with Washington suggesting that the destruction of banned missiles was a case of ‘too little too late’ for Iraq.

Wallis turns down $1.6 million AMP retirement allowance

Former AMP chairman Stan Wallis, under fire last week for bringing forward his resignation from the company five months ahead of schedule, today said that he would be refusing a $1.6 million retirement allowance.