NAB text banking

National Australia Bank has launched its SMS banking service which allows customers to receive an account balance or mini-statement and transfer funds between linked NAB [...]

POSTED ON May 20, 2008
Brokers support education standards

A plan by the Australian Securities Exchange to remove training requirements for brokers who offer risky derivatives to retail investors has been panned by brokers [...]

POSTED ON May 15, 2008
Aussie banks lag on technology

Australian consumers don't have access to many services that have been available in Asia for years due to a lack of investment in new technologies. [...]

POSTED ON April 28, 2008
Legal action closer for ANZ

The administrators of Opes Prime have given their strongest signals yet that they may take action against ANZ over its actions in the last days [...]

POSTED ON April 18, 2008
Opes to squeeze listed groups

Share prices of many companies have recently felt the squeeze from stock selling after the failure of Opes Prime. Many companies will also experience a [...]

POSTED ON April 14, 2008
Another broker in peril

Sydney based Lift Capital has been named another potential broker who has been attracting the attention of the regulators. Like Opes Prime, Lift Capital provides [...]

POSTED ON April 10, 2008
Consumer confidence takes a bite

Higher interest rates and rising fuel and food costs are putting a significant amount of pressure on consumer spending, suggesting that the work of the [...]

POSTED ON April 10, 2008
Stock lending data disarray

The Deputy Chair of the Australian Shareholders Association may have identified a $84 billion hole in official stock lending data. A recent BNP Paribas report [...]

POSTED ON April 8, 2008
Plans to force disclosure

The Federal government plans to force investors to hold equity derivatives to disclose their holdings to the market. Currently no such regulation exists and many [...]

POSTED ON April 7, 2008
Market yields better value

Analysts now believe that long-term investors are returning to the share market, with recent strong gains on most indices worldwide. Analysts quoted as saying there [...]

POSTED ON April 4, 2008
Broker backs ASX competitor

Credit Suisse has taken a shareholding in AXE ECN. AXE ECN is currently awaiting government approval on whether it will be able to break the [...]

POSTED ON April 1, 2008
ASX beefs up fines for market manipulation

Any stockbrokers found to be seriously manipulating the market will face a maximum fine of $1 million from Monday. The Australian Securities Exchange said that [...]

POSTED ON March 27, 2008
Shareholders urged to join litigation

Litigation funder IMF has decided to fund shareholder class actions against Allco Finance Group, MFS, Centro Property and Centro Retail. While no action has been [...]

POSTED ON March 26, 2008
Every silver lining has a cloud

Share markets staged something of a recovery yesterday following news from the US of stranger than expected housing sales in February, and JP Morgan's decision [...]

POSTED ON March 26, 2008
US Fed rate cut boosts sharemarket confidence

The US Federal Reserve has slashed interest rates by 0.75 percentage points, prompting rallies in share markets around the world. While it is too early [...]

POSTED ON March 20, 2008
Bell rejects Tricom buyout

Bell Financial Group has decided not to proceed with its planned purchase of Tricom Equities. Last month Bell said that it would take over the [...]

POSTED ON March 19, 2008
Financials bear the brunt of market fall

Concerns about the escalating problems in the US economy and the health of the financial sector have seen shares in local banks take a pummelling [...]

POSTED ON March 18, 2008
Investors worried by extent of US Fed action

Interventions by the US Federal Reserve intended to boost the economy are being increasingly seen by investors as signs of desperation and only serving to [...]

POSTED ON March 18, 2008
Rescue bid for Bear Stearns

The fifth largest investment bank in the United States, Bear Stearns, has been thrown a lifeline after running out of cash. Concerns about the financial [...]

POSTED ON March 17, 2008
ASIC warns on fringe brokers

A survey of home owners struggling to meet mortgage repayments has found cases of fringe brokers engaging in "equity stripping". Borrowers are being asked to [...]

POSTED ON March 14, 2008
Market close to tipping point

The Australian share market came within 100 points of the 5000 point psychological barrier during intraday trade yesterday. The market recovered some of the losses [...]

POSTED ON March 12, 2008
Losses mounting in super funds

Superannuation funds are heading for their first annual loss in six years on the back of a 25 per cent fall in the sharemarket since [...]

POSTED ON March 12, 2008
ASIC ramps up investigations

The corporate regulator is seeking explanations for a number of suspicious share trades as it steps up its efforts to clamp down on market manipulation. [...]

POSTED ON March 12, 2008
Legal action planned against Fincorp directors

Insolvency firm KordaMentha has told creditors of collapsed property group Fincorp that there could be a basis for pursuing legal action against its directors. The [...]

POSTED ON March 11, 2008
Director share trading under scrutiny

New research has found that 23 directors engaged in trading shares in their company during the blackout period between when the books are closed and [...]

POSTED ON March 10, 2008
Big margin call on Allco directors

Shares in Allco Finance Group, owned by the company's directors through a margin loan facility held by Allco Principals Investments, have been handed over to [...]

POSTED ON March 7, 2008
Increased scrutiny for short-sellers

Market regulators are clamping down on short-selling activities, reminding hedge funds that they have legal obligations to disclose their activities in this area. The Australian [...]

POSTED ON March 7, 2008
Record February share trades

The Australian Securities Exchange has reported its busiest February on record. Cash market trades of 8 million in February were 80 per cent higher than [...]

POSTED ON March 6, 2008
Strong growth at HSBC

HSBC Australia is expecting strong growth this year and says that it will be able to repeat the 23 per cent rise in underlying profits [...]

POSTED ON March 6, 2008
Directors pressured to show their margins

Asciano is the first company to disclose the margin loan positions of its executives following a reminder of disclosure obligations from the Australian Securities Exchange [...]

POSTED ON March 4, 2008
Allco founder stands aside

Allco founder David Coe stepped down as executive chairman yesterday and an insider has revealed that issuing a profit warning was considered as far back [...]

POSTED ON March 4, 2008
Financials fall in share market dive

Almost $40 billion was wiped from the value of the local sharemarket yesterday with financial stocks being hit hardest. Concerns about the impact of the [...]

POSTED ON March 4, 2008
ATO targets do-it-yourself super

The Australian Taxation Office has renewed its warnings to trustees of self-managed superannuation funds after finding that many do not understand their basic legal obligations. [...]

POSTED ON March 3, 2008
Business has big investment plans

Australian businesses are preparing for a 23 per cent increase in investment during 2008-09. These results from the Australian Bureau of Statistics will, if companies [...]

POSTED ON February 29, 2008
Director margin loans under scrutiny

Investors want greater disclosure margin loans held by directors against shares in their companies and the federal Minister for Corporate Law, Nick Sherry, has asked [...]

POSTED ON February 28, 2008
MFS delays release of financials

Gold Coast financial group MFS has asked for permission to delay announcing its half year results and is seeking a reprieve from its commitment to [...]

POSTED ON February 28, 2008
Share trades by texting

Investors will be able to use their mobile phones to trade shares via SMS with a new service introduced by online broker Bell Direct. In [...]

POSTED ON February 27, 2008
Allco punished for hidden debt

After many delays Allco has finally announced a net profit of $83.94 million for the first half of the current financial year, a fall of [...]

POSTED ON February 26, 2008
ASX snoops around director trades

The Australian Securities Exchange is investigating more than 900 trades by directors in the own companies' shares made since the start of this year. This [...]

POSTED ON February 21, 2008
Insider trading entrenched according to execs

According to senior markets executives insider trading is rife on the Australian stock market and has become "part of the system". Share prices of takeover [...]

POSTED ON February 20, 2008
Troubled Tricom finds a buyer

Bell Financial Group has agreed to buy take over Tricom as long as no hidden problems are discovered during diligence checks. Shareholders will have to [...]

POSTED ON February 20, 2008
ASIC questions disclosure rules

The Australian Securities and Investments Commission said yesterday that 44 per cent of consumers can't read well enough to understand investment disclosures and only 20 [...]

POSTED ON February 19, 2008
Allco asset sale imminent

Shares in financial services company Allco have been in a trading halt since last Monday while it is believed to be considering a partial asset [...]

POSTED ON February 18, 2008
It’s been a busy time at the ASX

The Australian Securities Exchange is referring an increased number of insider trading allegations to ASIC with six breaches referred in January alone, compared with the [...]

POSTED ON February 15, 2008
Tricom struggles with fund demand

The future of troubled broking firm Tricom is in doubt as it has been forced to seek a buyer. With some of the company’s largest [...]

POSTED ON February 15, 2008
Industry wants 15% super in 7 years

The superannuation industry says that most people are not saving enough to fund their retirement and have called on the government to force 15 per [...]

POSTED ON February 14, 2008
Lenders check the books at Allco

Lenders to Allco Finance Group have called in corporate restructuring specialists as they attempt to ensure the viability of the investment finance specialist. With Allco [...]

POSTED ON February 14, 2008
Regulator eyes margin loan industry

The Australian Securities and Investments Commission has called for greater regulation of the $36 billion margin lending sector. In its submission to the Productivity Commission, [...]

POSTED ON February 14, 2008
Bank share hit bargain levels

Bank shares fell yesterday following the Commonwealth Bank's profit announcement and are now at their cheapest since early 2000 and the "tech-wreck". CBA shares were [...]

POSTED ON February 14, 2008
Commonwealth reports profit jump

The Commonwealth Bank has announced an 8 per cent increase in its first half profit to $2.371 billion, compared with $2.191 billion in the same [...]

POSTED ON February 13, 2008
Fortress fund tumbling down

The Macquarie Fortress Investments fund is close to collapse with the value of its portfolio falling by a third in the last week. The drop [...]

POSTED ON February 12, 2008
Opes Prime rides out margin call surge

Broking firm Opes Prime said that it has not seen any significant increase in the level of margin calls to its clients during the share [...]

POSTED ON February 11, 2008
Credit problems could persist all year

The National Australia Bank has warned that conditions in wholesale funding markets have continued to deteriorate and predicts that the turmoil in global financial markets [...]

POSTED ON February 8, 2008
Rates rise supports currency

Stabilising equity markets overnight have helped the Australian dollar to open firmer today. The currency was trading at $US0.8975 early this morning with some of [...]

POSTED ON February 7, 2008
Moss departure makes markets mean

The chief executive of Macquarie Group, Allan Moss, has announced his retirement and from May will be replaced by Nicholas Moore, currently its investment banking [...]

POSTED ON February 7, 2008
Nervous investors punish CBA

Investors have punished the Commonwealth Bank for its Monday announcement of a change in profit reporting definitions to exclude unrealised gains and losses on derivatives [...]

POSTED ON February 6, 2008
Understand risks in the margins

Investors considering a margin loan should read the find print and ensure they understand their obligations. If the value of the share portfolio falls the [...]

POSTED ON February 6, 2008
Dow Jones leads the world

The Dow Jones Industrial Average has outperformed other world markets despite the increasing possibility of a recession in the US. In January the Dow lost [...]

POSTED ON February 6, 2008
Tricom rethinks margin strategy

Troubled broker Tricom Securities is under instruction from its banks to reduce its margin loan portfolio to $500 million and has said that it could [...]

POSTED ON February 5, 2008
Margin calls hit record highs

Record levels of margin calls have been made in the last two weeks and investors who have borrowed to purchase shares in companies exposed to [...]

POSTED ON February 5, 2008
CBA fears lead bank shares down

Shares in the major banks fell yesterday after the market was spooked by the Commonwealth Bank. The bank called an investor briefing and said that [...]

POSTED ON February 5, 2008
Margin lenders differ on regulation call

The call from the ASX for closer regulation of the margin lending industry has received a lukewarm response from the industry. While the proposal has [...]

POSTED ON February 4, 2008
Tricom slashes margin loan business

Embattled broker Tricom Equities is busily reducing the size of its loan book and has seen broking revenues dive. Managing director Lance Rosenberg said that [...]

POSTED ON February 4, 2008
Margin calls made on ‘risky’ shares

Investors who have used margin loan facilities to buy stocks that are now seen as risky are being hit with orders to settle their loans. [...]

POSTED ON February 1, 2008
Bad start for IPOs

January has been the worst month for initial public offerings (IPOs) since February 2006 with only four new floats worth $US17 million. While the first [...]

POSTED ON February 1, 2008
Business lending up, but brakes on housing

Business lending is increasing at its fastest rate in almost 20 years with a 1.6 per cent increase in December contributing to a 24.3 per [...]

POSTED ON February 1, 2008
ASX under scrutiny for Tricom troubles

The ASX has been criticised for its role in creating uncertainty in the share market following the failure of Tricom to settle its trades on [...]

POSTED ON February 1, 2008
Broker settles but will be closely watched

The broker and margin lender Tricom will be under daily supervision by the ASX after failing to settle trades on Tuesday. While the firm did [...]

POSTED ON January 31, 2008
MFS fund frozen

Investors in the $770 million MFS Premium Income Fund will today receive a letter advising them that they cannot withdraw any money for up to [...]

POSTED ON January 30, 2008
Broker fails to settle

Stockbroker Tricom Equities has confirmed that it did not settle its trades with the Australian Securities Exchange last night, prompting speculation that the company may [...]

POSTED ON January 30, 2008
Margin lenders give Allco a break

Two margin lenders have given Allco executives a reprieve by agreeing not to force the sale of the remaining 6.5 per cent of the company [...]

POSTED ON January 29, 2008
ANZ to let fingers do the banking

The ANZ Bank is understood to be trialling a new service that will allow customers to use mobile phones to conduct their banking. While a [...]

POSTED ON January 29, 2008
Super fund members need reassurance

Superannuation fund members are seeking assurances about the performance of their funds in record numbers after falls on the share market in the past few [...]

POSTED ON January 25, 2008
US moves prop up markets

All the share market losses on Tuesday have been recovered as investors reacted to moves in the US to shore up its economy. Following a [...]

POSTED ON January 25, 2008
Margin call on Allco shares

Shares in Allco went against the market trend yesterday by falling 78 cents to $2.21. The slide was triggered by margin calls which saw executives [...]

POSTED ON January 24, 2008
Market plunge causes record trade volumes

The Australian Stock Exchange saw record volumes on Tuesday with 665,000 cash market trades worth $10 billion and there were a further 576,000 trades yesterday [...]

POSTED ON January 24, 2008
Aussie banks a safe haven

Shares in Australia's big banks have outperformed the general share market by only losing 20 per cent of their value since the start of November, [...]

POSTED ON January 23, 2008
Market heat causes CommSec crash

CommSec's online trading system crashed yesterday morning as the market went into meltdown with the service unavailable from 10am until 10.35am. CommSec accounts for around [...]

POSTED ON January 23, 2008
AXA shareholders will hear from Tweed

Market predator David Tweed has won his battle to gain access to the shareholder register of AXA. The Corporations Act says that listed companies must [...]

POSTED ON January 23, 2008
Massive market wipeout

Investors lost $104 billion on the Australian share market yesterday in the biggest fall in a single day since October 1989. Since the market peaked [...]

POSTED ON January 23, 2008
Merrill and Citi seek funds injection

Merrill Lynch and Citigroup, two of the world's largest banks, are approaching foreign investors to raise a total of $US13 billion. The news comes as [...]

POSTED ON January 22, 2008
Banks still offer good returns

While concerns about the exposure of Australian banks to problems in the US have been circulating over the past few days, analysts say that the [...]

POSTED ON January 22, 2008
Allco shares hit by market nerves

Shares in Allco Finance Group fell by 35 per cent to close at $3.10 yesterday and are 77 per cent below the $13.24 peak achieved [...]

POSTED ON January 22, 2008
Westpoint investors still looking for cash

Two years after the collapse of the Westpoint group investors are still waiting to see any of their cash. The Australian Securities and Investments Commission [...]

POSTED ON January 22, 2008
Super funds promote long term view

According to SuperRatings the average superannuation fund has lost 6 per cent so far this month, following a 0.46 per cent drop in December. However [...]

POSTED ON January 22, 2008
Market down again and could keep falling

The share market fell 3 per cent yesterday and some analysts are tipping that it could lose a further 10 per cent. The S&P/ASX 200 [...]

POSTED ON January 22, 2008
Super returns stall

After three years of positive returns from all asset classes Australians should brace themselves for mixed results in 2008. With the local sharemarket experiencing its [...]

POSTED ON January 22, 2008
Second stockmarket correction this year

The stock market has recorded its second technical correction in six months after losing a total of $44 billion over the last two days. A [...]

POSTED ON January 22, 2008
Gold worth its weight

The price of gold has risen by 42 per cent since the problems in the US credit markets started in August. With central banks taking [...]

POSTED ON January 22, 2008
Difficult days for margin lenders

It's not just mortgages that are feeling the pressure of higher interest rates with many lenders increasing their margin loan rates by more than the [...]

POSTED ON January 22, 2008
Aussie stocks battered

Over $35 billion was wiped from the Australian sharemarket yesterday following Friday's poor employment figures out of the US which fed concerns that it could [...]

POSTED ON January 22, 2008
Most choose industry or self-managed super

The biggest winners from the introduction of the superannuation choice legislation have been industry funds and self-managed super funds (SMSFs). While some thought that industry [...]

POSTED ON January 21, 2008
Suncorp confident of share price

Suncorp's chief executive, John Mulcahy, says that they will be able to close the share price gap with rivals by the end of 2008. With [...]

POSTED ON January 21, 2008
More happy with their choice of fund

The rate of people switching their superannuation funds continues to slow with the latest Roy Morgan research finding that only 2.9 per cent changed funds [...]

POSTED ON January 21, 2008
Bargain hunters scour share market

The Australian share market has fallen 16 per cent over the last two and a half months but some say there are now good deals [...]

POSTED ON January 21, 2008
US tries to kick-start economy

A $US145 billion rescue package for the American economy announced by President George Bush on Friday has failed to calm investor concerns on Wall Street. [...]

POSTED ON January 21, 2008