05:40PM
Mike Wilkins, the new chief executive of Insurance Australia Group (IAG), Australia's top home and car insurer, has announced a partial exit from the company's struggling UK operations, taking a charge of $350 million in fiscal 2008, and will cut 600 jobs to make cost savings.
11:46AM
Property trust GPT Group says finance costs tied to the changes in its credit ratings by agencies had been accounted for in the assumptions underlying the guidance it gave earlier this week
06:50AM | by Paddy Manning and Madeleine Koo
The federal government will target conflicts of interest in commission-based financial advice and the distribution of investment products as part of its super system review.
06:50AM | by Paddy Manning and Madeleine Koo
The federal government's superannuation overhaul has come amid a growing debate about adviser remuneration and mis-selling after collapses from Westpoint to Centro Properties Group to the former MFS Ltd, where funds were distributed through financial planners and about 50,000 people have lost an estimated $2.7 billion.
06:50AM | by Sally Patten
A report by actuarial firm Rice Warner published last year estimates that the average fee charged by the superannuation industry in the year to June 2006 was 1.26 per cent of assets under management, providing some comfort that Treasury's estimate of 1.25 per cent is on the mark.
06:48AM | by John Kehoe
Head of Citigroup Australia Stephen Roberts admits the current financial mayhem of plunging equities and static credit markets is testing terrain for investment banks.
06:45AM | by Nina Wan with Eric Johnston
Australian and New Zealand Banking Group is facing yet another fight to recover $53 million owed following the collapse of bill payments group Bill Express.
12:00AM | by Brendan Swift
UK-based investment group Arkmile has called an extraordinary general meeting to wind up the Challenger Infrastructure Fund after the two parties failed to agree on a strategy to boost the fund's flagging share price.
12:00AM | by Brendan Swift
Insurance Australia Group is set to address investor concerns today about its capital position, unsustainably high dividends and struggling UK operations as new boss Mike Wilkins announces the results of a review.
12:00AM | by Eric Johnston
The Australian Securities Exchange has defended planned rules which will force stockbroking firms to sharply increase liquidity reserves by putting aside up to $10 million, arguing the move will strengthen the integrity of the market.
12:00AM | by Daily Telegraph, London
Bradford & Bingley shares crashed 16 per cent to 42 pence yesterday, dropping further below the 55p-a-share price of its £400 million ($826.7 million) rights issue, as the City speculated that the buy-to-let lender is worthless.
12:00AM | by Bloomberg
S&P's local head quits
12:00AM | by Sally Patten
For whom Bell tolls
12:00AM | by Bloomberg
Barclays exits sub-prime
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