Superannuation

CSL raises annual profit guidance

Blood products giant CSL has upgraded its full-year profit guidance following strong sales, particularly of immunoglobulins and specialty products. After a likely first-half profit of about $US800 million ($A1.1 billion), CSL expects net profit for the year ending June 30 to grow by between 18 and 20 per cent on …

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Superannuation

AGL to sell Silverton wind farm to PARF

Electricity producer and retailer AGL Energy has tied up debt funding for its planned 200 MW wind farm at Silverton in NSW and will sell the project to the Powering Australia Renewables Fund it set up last year. AGL will transfer the project to PARF for $36 million and said …

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Superannuation

Stocks to watch

Stocks to watch on the Australian stock exchange: ANZ – ANZ BANK – down 39 cents, or 1.3 per cent, at $30.40 CBA – COMMONWEALTH BANK – down 74 cents, or 0.9 per cent, at $83.35 NAB – NATIONAL AUSTRALIA BANK – down 33 cents, or 1.1 per cent, at …

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Superannuation

Insolvencies down, but retail threatened

The number of businesses going bust in Australia continues to fall, but retailers could still find conditions tough in 2017, with giant online retailer Amazon set to arrive. Global business advisory firm FTI Consulting has analysed insolvency statistics for November from the Australian Securities and Investments Commission, which showed the …

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Superannuation

Gold at 7-week high after Trump speaks

Gold rose to a seven-week high on Wednesday, turning positive as the dollar dropped and Treasury yields fell after US President-elect Donald Trump spoke in his first formal news conference just days before taking office. US stocks lost ground in choppy trading, led by drug stocks after Trump said pharmaceutical …

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Superannuation

Copper slips further after Trump remarks

Copper slipped on Wednesday after US President-elect Donald Trump gave little guidance on new infrastructure spending at a press conference in New York, disappointing some who had hoped for a clearer view on policy. The metal, used in construction, surged more than 10 per cent in the month following Trump’s …

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Superannuation

China policymakers pledge stability

China’s economy is on a steady growth path as 2016 ends, supported by a housing boom and billions in government investment, but the mood of policymakers is more cautious than celebratory as they face “complexity” in the new year. Controlling risks has been a constant refrain in recent months as …

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Superannuation

Limited room for China to tighten policy

China’s leadership is signalling growth will slow slightly in 2017, policy advisers say, as it struggles to strike a balance between supporting the economy with loose credit conditions and preventing a destabilising build-up in debt. That means the interest rate easing cycle that began in November 2014 is probably over, …

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Superannuation

Start-ups challenge Japan’s risk aversion

A wave of start-ups is emerging in famously risk-averse Japan as cash-rich corporations increasingly delegate the task of keeping pace with technologies such as artificial intelligence and robotics to smaller, nimbler businesses. Japan has been dry ground for start-ups, given the shame that entrepreneurs and investors associate with failure, but …

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Superannuation

Russia helped Trump win: US report

US intelligence analysts have concluded that Russia intervened in the presidential election to help Donald Trump win the White House, and not just to undermine confidence in the US electoral system, a senior US official says. US intelligence agencies have assessed that as the 2016 presidential campaign progressed, Russian government …

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