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Superannuation

Profits surge as Perpetual outlines strategic shift

Announcing a 29% jump in net operating profit, Perpetual has also unveiled a new business strategy for the group focusing on developing a more balanced portfolio and creating new sources of growth.

ASIC files proceedings against former ANZ bank employee, client

Australia\'s corporate regulator today said it had filed proceedings against a former ANZ bank employee and his client, on allegations that they engaged in insider trading in January 2003.

Net earnings 85% ahead of prospectus; IOOF

Financial services group IOOF on Monday announced net earnings 85% ahead of its prospectus forecast in the group's first year as a listed company reporting $41.6 million for the 12 months to 30 June.

NAB to amalgamate domestic ops into one new division: report

AAP  |  MONDAY, 23 AUG 2004
National Australia Bank will move its core domestic operations into one Financial Services Australia division, to be headed by new executive Ahmed Fahour, a newspaper reported today

ASIC places permanent ban on Rivkin

Rene Rivkin has been permanently banned from providing any financial services by the Australian Securities and Investments Commission (ASIC).

Zurich Financial says first-half net profit up 93%

AAP  |  FRIDAY, 20 AUG 2004
Swiss insurance giant Zurich Financial Services today reported a first-half net profit of $US1.5 billion ($A2.1 billion), up 93% from $US752 million ($A1.05 billion) in the same period last year, and roughly in line with analysts\' expectations.

There's no price war, says NAB CEO

AAP  |  THURSDAY, 19 AUG 2004
National Australia Bank chief executive John Stewart on Wednesday rejected suggestions that his bank had initiated a price war to win back customers.

Macquarie Bank takeover of RG Capital gets green light

AAP  |  THURSDAY, 19 AUG 2004
Macquarie Bank\'s $173 million bid for Reg Grundy\'s RG Capital Radio has been given the green light by the takeover target\'s shareholders.

ETrade records 700% net profit increase for 2003/04

AAP  |  THURSDAY, 19 AUG 2004
Online broker ETrade Australia today announced a preliminary unaudited net profit increase of 700% for 2003/04 backed by improved market confidence.

BHP smashes Australian corporate record with $4.9 bln profit

AAP  |  THURSDAY, 19 AUG 2004
Soaring commodity prices have pushed BHP Billiton to a record net profit for 2003/04, with the dual-listed company nearly doubling the previous year\'s result.