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Superannuation

Ratings agencies tend to lag market, according to researchers

AAP  |  THURSDAY, 25 MAR 2004
Although ratings agencies serve a purpose in assessing a company's long-term default risk, they tend to lag the market, reflecting information already priced in, according to researchers.

NAB dumps share buyback following APRA report

AAP  |  WEDNESDAY, 24 MAR 2004
National Australia Bank is to implement new capital adequacy initiatives and terminate a share buyback after the release of a report by the banking regulator today into a forex trading scandal at NAB.

DEWR skilled vacancies fall 0.2% in March

AAP  |  WEDNESDAY, 24 MAR 2004
Vacancies for skilled workers slipped 0.2% in March but remained 5.4% higher than the same time last year, official figures showed today.

Lend Lease sells US Value Enhancement Fund

AAP  |  WEDNESDAY, 24 MAR 2004
Lend Lease Corporation today announced that it had completed the sale of its Value Enhancement Fund management platform.

NAB set to go public with APRA report into forex scandal

AAP  |  WEDNESDAY, 24 MAR 2004
National Australia Bank will today release most, if not all, of a damning report by the financial services watchdog on a breakdown in its risk management systems.

CPA launches register to help boardrooms comply with regulations

AAP  |  WEDNESDAY, 24 MAR 2004
The certified accountants organisation, CPA Australia, has launched a new register aimed at helping companies comply with regulatory requirements and appoint independent directors to boards.

Cavendish boosts team with technical services manager

Cavendish Superannuation has boosted its team with the appointment of Michael Houlihan.

Promina announces $250 million reset preference shares

AAP  |  TUESDAY, 23 MAR 2004
Insurer Promina Group said today that it had today made an offer of up to $250 million in reset preference shares as part of its long term capital management program.

S&P assigns preliminary ratings to Compass RMBS issues

AAP  |  TUESDAY, 23 MAR 2004
Standard & Poor's Ratings Services has assigned its preliminary ratings to two issues of Australian residential mortgage backed securities by Compass Master Trust.

Bendigo Bank to pick up $7.6 million pre-tax in Cashcard takeover

AAP  |  TUESDAY, 23 MAR 2004
Bendigo Bank said today it will pick up $7.6 million before tax if the acquisition of Cashcard Australia by US group First Data Corporation goes ahead.