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General

Sanford board rejects "inadequate" IWL offer

Financial services group Sanford’s board of independent directors has unanimously recommended that its shareholders reject a takeover offer from InvestorWeb Limited (IWL).

Advice fears won't halt 'choice of super': Coonan

The Government has spelt out its determination to see ‘choice of super’ finally passed into legislation despite fears concerning the current standard of financial advice available to Australians.

Net profit loss of $92 million for Woodside

Woodside Energy announced a net loss of $92 million for 2002, a decrease of 10.8% over the underlying 2001 profit of $817.8 million.

Net profit loss of $92 million for Woodside

Woodside Energy has reported a net loss of $92 million for 2002 following a one-off reduction of $715 million due to a change in accounting practice and a $106 million loss from its investment in Oil Search Limited.

ABS releases latest weekly earnings figures

Average weekly earnings for Australians in 2002 increased by 4.8% over the previous year, while the increase for the November quarter of 2002 produced a rise of 1.1%.

Super licensing to be based on effective risk management capacity

The Australian Prudential Regulation Authority (APRA) said today that its granting of superannuation licences under a new government reform package to come into effect in early 2004 will depend on a trustee’s ability to effectively demonstrate its ...

Five-year ban for securities adviser

The Administrative Appeals Tribunal (AAT) has upheld a decision of the Australian Securities and Investments Commission (ASIC) to ban Jan Jungstedt, a former securities representative of Epic Securities, for five years on charges that he had contravened ...

Senator Sherry attacks Liberals' super policies at ASFA meeting

The Australian Labour Party (ALP) has attacked the federal government’s policy of giving superannuation tax breaks to high income earners and not to the rest of the Australian workforce.

Telstra in $946 million write-down of its Asian venture

Telstra has written down the value of its Asian joint venture international voice and data carriage business Reach Ltd of Hong Kong to zero.

Qantas staff strikes loom as profits soar 56%

Qantas Airways today announced an after tax profit $352.5 million for the half-year ended December 31 2002.