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General

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.

Assirt 'holds' BT/Sagitta rating after Cocaro departure-for now

Assirt has retained its ‘hold’ rating of the combined BT/Sagitta group but warned that the latest departure from the organisation, head of listed property Carlos Cocaro, will “significantly” weaken its property portfolio.

Property the best investment vehicle: Atchison Consultants ^ development.

^ DEVELOPMENT.  |  THURSDAY, 20 FEB 2003
Direct property returns not only outstrip Australian and overseas share returns, but do so with less than one-third of the risk, according to research conducted by Atchison Consultants.

Liquidator chases Prudential for $8 million

Prudential Investment Company of Australia (PIA) is to defend a federal court proceeding brought against it by the liquidator of its wholly-owned subsidiary of over 10 years, Body Corporate Services (BCS).