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General

AMP record $896 million for 2002

AMP posted $896 million in losses for the year ending December 31 2002 as the company had $1,571 million in write-offs and restructuring costs.

ASIC files charges against Southcorp

The Australian Securities and Investments Commission (ASIC) today filed proceedings in the Federal Court against Southcorp Limited alleging a breach of its continuous disclosure obligations in April 2002.

ASX registers profit of $31.4 million for December half 2002

The Australian Stock Exchange (ASX) today announced profits of $31.4 million for the six-month period to December 31 2002

Perpetual posts profit of $43.26 million

Perpetual Trustees Australia Limited posted a December 2002 half-yearly profit of $43.26 million. This represents a $3.76 million or 9.5% rise over the $39.5 million profit figure for the corresponding period in 2001.

Sherry lashes out higher super access age report

Nick Sherry, the Opposition Minister for Retirement Incomes and Savings, today lashed out at the federal government’s reported proposal to increase the preservation age at which people can access their superannuation funds from 55 years to 65 years ...

Style neutral, growth managers to gain some favour in 2003

Research house van Eyk, in it s annual Australian Equities Sector Review report released today, said that style neutral and growth managers will see a modest increase in favour in 2003, following a year of dominance for value managers in 2002.

Platinum defies international equity bloodbath: Rainmaker

Platinum Asset Management has comfortably been the best performing fund manager in international equities in both the short and medium-term, Rainmaker Information said today.

Afternoon market wrap: All Ordinaries at 42-month low

The All Ordinaries index lost over 2% in trading today, falling to a 42-month low, reflecting the trend started overnight in all the major international markets.

Wallis resigns from AMP as Batchelor payout row rumbles on

Paul Cully AMP chairman Stan Wallis has brought forward his resignation by five months, sparking a major structural rethink of the AMP board, the troubled financial services group said today. Media speculation had forced AMP to release a statement yesterday ...

Macquarie's Canadian highway project in $99.10 million loss

The Macquarie Infrastructure Group (MIG)-backed Canadian highway project, 407 International, suffered a net loss of $99.10 million for the year ended December 31 2002, it announced today.