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Superannuation

S&P assigns ratings to Members Equity

AAP  |  TUESDAY, 17 FEB 2004
Standard & Poor's Ratings Services has assigned its BBB-minus long-term and A3 short-term counterparty credit ratings to Members Equity.

PAO predicts 12.1 cent distribution

AAP  |  MONDAY, 16 FEB 2004
Principal America Office Trust (PAO) today forecast an increase in distributions to 12.1 cents per unit in 2004, as the US office market picks up.

Owen extends AXA responsibilities

AAP  |  MONDAY, 16 FEB 2004
The AXA Group said that Les Owen, group chief executive, AXA Asia Pacific Holdings, will assume rsponsibility for AXA's property and casualty operations in Asia Pacific (excluding Japan), and for representative offices in China.

Stockland raises $203 million to pay for new acquisitions

AAP  |  MONDAY, 16 FEB 2004
Stockland Trust Group has raised $202.8 million through an institutional placement to help cover the $228.5 million cost of four new acquisitions, including the Waterfront Place office tower in Brisbane.

AMP incurs $3.6 billion writedown on HHG demerger

AAP  |  MONDAY, 16 FEB 2004
Financial services group AMP Ltd incurred a $3.6 billion writedown on its HHG demerger.

CPA Australia welcomes FSRA allowances

Accounting body CPA Australia has welcomed an announcement from Treasurer Peter Costello that accountants will be allowed to provide some advice to clients on self-managed superannuation under the Financial Services Reform Act (FSRA).

Watchdog takes action over super scheme fraud

A Brisbane businessman has consented in the Federal Court to permanent injunctions relating to his involvement in a scheme that promoted the illegal and early release of superannuation benefits.

Unilever switches strategy as FitzGerald goes

Anglo-Dutch giant Unilever switched its focus to boosting shareholder returns on Thursday after failing to meet sales growth targets, lifting its stock, and said Chairman Niall FitzGerald would retire early.

January sees rise in job ads: ANZ

Job advertisements in major metropolitan newspapers rose by 2.3%, seasonally adjusted, in January, to an average of 20,783 per week according to the latest survey by the ANZ bank.

Q1 profit in line with budget: Tower

Financial services group Tower Ltd today said its first quarter result was in line with budget and its Australian operation had returned to profitability.