CBA prices massive $3bn RMBS issue
The first Commonwealth Bank RMBS bond sale in over four years has been tripled to $3 billion as investors return to the securitisation markets to support the major bank.
Mid-cap miners shrug off China rate rise
Mid-cap mining stocks have shrugged off China’s decision to raise interest rates overnight, despite the sector having close links to Chinese economic growth.
Dell warns Aust customers after Epsilon breach
Computer maker Dell has told Australian customers they could become the target of email scams as a result of the exposure of millions of personal data records held by online marketer Epsilon.
Coles, Woolies not an option, court told
Grocery chains Woolworths and Coles do not offer a credible alternative source of wholesale supply to independent supermarkets in NSW, Australia's competition watchdog has told the Federal Court.
GST too politically hot to broaden, says Shorten
The federal government has given the clearest indication why it will not put the goods and services tax on the tax summit agenda.
Warning: plan well or wither
The head of Australia’s largest diversified property group has called for radical planning reform in all states to manage the population boom and to boost housing affordability.
AFL negotiations won’t end soon - Seven
Channel Seven's commercial director says the process for awarding the Australian Football League's (AFL) next broadcast contract still has some way to run, the NSW Supreme Court heard on Wednesday.
Financial Review TV
Interest rate outlook
St George Bank chief economist Besa Deda expects RBA moves in August and November.
Perennial boosts FKP stake
Funds manager Perennial Investment Partners has rapidly boosted its stake in listed FKP Property Group
Libyan rebels secure first oil sale
Libya’s rebel leadership has boosted credibility and finances with the sale of 1 million barrels of oil - $US125 million worth - to a Swiss company.
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Follow the Financial Review on Twitter for the latest local and international business, markets and investment news.
Swansong for ASX integration
A deal that was arguably the first step in the closer integration of Asian and Australian capital markets is now dead in the water.
Gluttons at the R&D feast
Can our politicians resist the temptation to turn the coming research and development boom into a rent seekers’ Grande Bouffe?
Silver Lake doubles production capacity
Silver Lake Resources’ decision to double the production capacity at its Lakewood gold processing facility has fired up its share price.
Lack of volume clouds direction
Markets drifted today and appear to have basically stalled ahead of the start of the first-quarter earning season next week.
IMF capital control opens can of worms
The US Federal Reserve knows it needs to drive monetary policy around domestic considerations. But it also knows its actions have far-reaching implications.
The real worry about online retailing
The conclusion to draw from a Productivity Commission report on e-tailing is that local ‘bricks and mortar’ retailers should plan for the worst.
Sensis denies Google rivalry
The elephant was mentioned just once during question time after a strategy briefing from Sensis chief Bruce Akhurst last week.
A definite warming of the political climate
Someone had to crack eventually. After all, it had been pretty acrimonious last week in federal Parliament.
Lonsec weighs up small-cap funds
Small-cap funds are not having any easy time – as prudent investors, most are underweight in resources stocks at a time when that sector is driving returns.
Disasters highlight tax rule complexity
Natural disasters that hit Australia in the last couple of years highlighted major practical problems for do-it-yourself super funds that own property.
Doubts, opposition to super reforms
It is difficult for the superannuation sector to unite and push for raising the super levy, and there is widespread employer opposition to the increase.
Prices will continue to find support
Iron ore supply is rising and prices will struggle to move much higher. But no market collapse is imminent. And iron ore tells the broader commodity story.
Yuan to be spruced up for IMF
China is taking steps to ensure the yuan is qualified to join the currencies that comprise the International Monetary Fund’s Special Drawing Rights.
Swan should be commended for ASX stance
Treasurer Wayne Swan should be commended for blocking the Singapore-Australian stock-exchange merger. National interest was at stake.
Productivity factor
There’s a lot to be debated regarding Australia’s lagging productivity – encompassing leadership, employee engagement and gender balance.
The McInnes factor
The swift appointment of former David Jones’ CEO Mark McInnes to a new management role sends mixed messages.
Beggars can’t be choosers
Employers can no longer afford to reject those candidates who “almost” fit the job description
Chance for new leaders to trust in planning
The new Liberal premiers, Ted Baillieu and Barry O’Farrell, could revolutionise property development.
Wilkie’s smart compromise on pokies
Let’s stop the grandstanding about pokies reform and admit what Andrew Wilkie, the clubs/pubs, the PM and the states already know.
World Indices
| S&P;/ASX 200 | 4,912.9 | + 12.8 | + 0.26% |
| ALL ORDINARIES | 5,011.4 | + 12.8 | + 0.26% |
| S&P;/ASX 100 | 4,001.9 | + 11.0 | + 0.28% |
| SMALL ORDS | 2,892.2 | + 6.0 | + 0.21% |
| Dow Jones Industrial | 12,393.90 | - 6.13 | - 0.05% |
| S&P 500 | 1,332.63 | - 0.24 | - 0.02% |
| NASDAQ | 2,791.19 | 0.00 | 0.00% |
| Wilshire 5000 | 14,129.25 | + 8.96 | + 0.06% |
| FTSE 100 | 6,031.60 | + 24.54 | + 0.41% |
| CAC 40 | 4,027.84 | - 13.90 | - 0.34% |
| SMI | 6,433.18 | + 2.88 | + 0.04% |
| DAX | 7,196.64 | + 21.33 | + 0.30% |
| HANG SENG INDEX | 24,285.05 | + 134.47 | + 0.56% |
| STRAITS TIMES | 3,170.33 | + 23.58 | + 0.75% |
| Nikkei 225 | 9,584.37 | - 31.18 | - 0.32% |
| SSE COMPOSITE/d | 3,001.36 | + 33.95 | + 1.14% |
Currencies
| AUD | USD | EUR | JPY | GBP | |
| AUD |  |
1.0383 | 0.7258 | 88.40 | 0.6368 |
| USD | 0.9625 |  |
0.6991 | 85.12 | 0.6132 |
| EUR | 1.3771 | 1.4302 |  |
121.75 | 0.8771 |
| JPY | 0.0113 | 0.0117 | 0.0082 |  |
0.0072 |
| GBP | 1.5698 | 1.6304 | 1.1397 | 138.78 |  |
Market Sensitive Announcements
| SXR | 7:21:00 PM |
March 2011 Passenger Operating Statistics
|
| MAH | 7:14:00 PM |
Response to ASX Price Query
|
| TKL | 7:08:00 PM |
Response to ASX Price and Volume Query
|
| RIV | 6:46:00 PM |
RIO: Important update in Rio Tinto bid for Riversdale
|
| GCY | 6:29:00 PM |
Response to ASX Price and Volume Query
|
Top money for Black Caviar half-brother
Sydney trainer John Hawkes has purchased the half brother to galloping sensation Black Caviar for $1.025 million.
Toyota, Microsoft join for clean car tech
Toyota and Microsoft will work together to create a global standard for energy-efficient automotive technology.
Knights chief exits as Tinkler steps in
Newcastle chief executive Steve Burraston has announced he will immediately quit the NRL club.
SEC proposes trading limits after flash crash
The US securities watchdog is considering limits on the amount by which a stock’s price can move in any five-minute period.
Hackers hunt prey on smartphones
Hackers are following prey on to smartphones and social networking hotspots, according to reports released by two computer security firms.
Blanchett launches short film competition
Oscar-winner Cate Blanchett is urging Australian children to pick up a video camera and raise awareness for youth homelessness.
An episode of TV’s own soapie
Television is a world all of its own, where the normal protocols simply do not apply.
Wanted: office workers with naked ambition
A software company boss has placed an advertisement for female office staff to work in the nude.
Cruise control glitch sparks US Mercedes recall
Mercedes is recalling 136,751 4WDs in the United States amid concerns that drivers may have trouble disengaging cruise control.
Buffett’s ruthlessness is now oddly absent
‘Lose money for my firm, and I will be understanding. Lose a shred of reputation for the firm, and I will be ruthless’: Warren Buffett.
Resources Daily latest
Integra’s Randalls Gold Project producing
Integra Mining reported the Randalls Gold Project commissioning had been completed and commercial production declared from March 1.
Murchison’s Jack Hills not controlled action
Murchison Metals reported SEWPaC had determined that the proposed Jack Hills Expansion Project was not a controlled action under the Environment Protection and Biodiversity Conservation Act and therefore did not require further assessment under the act.
Dealbook latest
CBA prices massive $3bn RMBS issue
The first Commonwealth Bank RMBS bond sale in over four years has been tripled to $3 billion as investors return to the securitisation markets to support the major bank.
Busy day for raisings as companies eye growth
Southern Cross Media, Ausdrill and Allied Gold ensured a busy day for equity capital markets bankers on Wednesday, raising more than $700 million between them.
Portfolio
Underpriced, overlooked and interesting
Industrial stocks have lagged compared with hyped-up resource stocks but that doesn’t mean investors should steer clear.
Big retailers jostle for top spot
Grocery shoppers aren’t the only ones trying to work out which of the two major retailers delivers better value.
National
Dell warns Aust customers after Epsilon breach
Computer maker Dell has told Australian customers they could become the target of email scams as a result of the exposure of millions of personal data records held by online marketer Epsilon.
Carbon tax won't cost steel jobs, says Combet
Federal Climate Change Minister Greg Combet has warned that steel workers could lose their jobs, but he says it won't be because of a carbon tax.
Business
Flight Centre cruises towards record pre-tax profit
Travel agent Flight Centre says it is on track to achieve a record full-year pre-tax profit of $220 million to $240 million as trading in most markets are performing well.
AFL negotiations won’t end soon - Seven
Channel Seven's commercial director says the process for awarding the Australian Football League's (AFL) next broadcast contract still has some way to run, the NSW Supreme Court heard on Wednesday.
Markets
Mid-cap miners shrug off China rate rise
Mid-cap mining stocks have shrugged off China’s decision to raise interest rates overnight, despite the sector having close links to Chinese economic growth.
Marks & Spencer earnings prove fillip for FTSE
Retailers propelled Britain’s sharemarket higher in early trade on Wednesday after Marks & Spencer beat sales forecasts, while TUI Travel rose after an upgrade from Citigroup.
Street Talk
Perennial boosts FKP stake
Funds manager Perennial Investment Partners has rapidly boosted its stake in listed FKP Property Group
Indochine to raise $15.6m
Ambitious gold junior Indochine will tap investors for $15.6 million in a private placement to develop its controversial Mt Kare Project in Papua New Guinea.
World
NZPA future under review
New Zealand Press Association has announced it is reviewing the future of its news wire service.
Toyota, Microsoft join for clean car tech
Toyota and Microsoft will work together to create a global standard for energy-efficient automotive technology.
Personal finance
Cash alternatives
Term deposits are providing excellent rates of return but advisers note they are not the only fixed-income option available to DIY fund members.
Playing investment as a game
Todd Ruppert from Balitmore-based T. Rowe Price has been spreading the word in Australia about his firm’s efforts to improve financial literacy.
DIYSuper
Cash alternatives
Term deposits are providing excellent rates of return but advisers note they are not the only fixed-income option available to DIY fund members.
Disasters highlight tax rule complexity
Natural disasters that hit Australia in the last couple of years highlighted major practical problems for do-it-yourself super funds that own property.
Technology
Dell warns Aust customers after Epsilon breach
Computer maker Dell has told Australian customers they could become the target of email scams as a result of the exposure of millions of personal data records held by online marketer Epsilon.
Web sales carve a cut above
Big businesses that steer customers to the internet to pay for goods and services pocket a handsome cut of credit card fees along the way.
Property
Perennial boosts FKP stake
Funds manager Perennial Investment Partners has rapidly boosted its stake in listed FKP Property Group
Rents continue upward trend
Renters continue to be squeezed as the deteriorating outlook for home affordability pushes up demand for rental properties, a survey finds.
Marketing & Media
AFL negotiations won’t end soon - Seven
Channel Seven's commercial director says the process for awarding the Australian Football League's (AFL) next broadcast contract still has some way to run, the NSW Supreme Court heard on Wednesday.
NZPA future under review
New Zealand Press Association has announced it is reviewing the future of its news wire service.
Lifestyle
Boat lovers’ haven: Point Piper, NSW
Architect and developer Harold Finger has listed his waterfront property at Wunulla Road for auction this month.
Land value is the driver
Three households negotiated a combined $14.5 million sale price when an area was rezoned.
A blast from the past from Kawasaki
The W800 motorcycle was forged in an age of drum brakes and spoked wheels - but you won’t care that it’s not the fastest bike.
