Business News

Australian Superannuation and Savings Industry Might be Going in for Significant Fundamental Changes

AXA Asia Pacific

It is being speculated that the main reason why NAB is closing in on AXA Asia Pacific is because the "Australian superannuation and savings industry" might be going in for some very significant fundamental changes.

The amount of fees charged will be going down on the back of new regulations, and the industry will make the most of the high income products which are currently at the top of the market and popular mass products for the remaining bulk of the sector.

Australian Business Confidence Hits 7 Year High

Australia

As measured by NAB's Monthly Business Survey, business confidence across Australia reached its highest level since May 2002 in November, with led the major bank to increase its growth forecast and substantially lower the unemployment forecast.

For the month of November, the level of confidence among business owners grew by another 3 points to hit 19 points, which is indicative of the fact that most of the businesses are now much optimistic in their outlook about the coming times.

Millions of Pounds Wasted on Chlamydia Screening Program - NAO

National Audit Office

The National Audit Office recently revealed that Millions of Pounds worth of taxpayers' money has been wasted during past years as a result of a nationwide screening program for Chlamydia, a sexually transmitted infection.

International business award goes to Beca

Beca

Beca, one of the leading engineering consultancy companies in New Zealand, emerged as the winner at the New Zealand International Business Awards held in Auckland on Wednesday, getting the judges' supreme award for its outstanding success in the international market.

New Zealand Trade and Enterprise, an economic development agency by the government, finally recognized the success of Beca, having more than 2500 people working at its 20 offices around the world. The firm maintains a successful performance record since 2006, having doubled its revenue to $118 million.

SCF to disclose capital-raising plans by September-end

South Canterbury Finance

South Canterbury Finance (SCF) seems to have postponed its idea of raising capital, with new plans expected to be disclosed by the end of September. The finance company, owned by Allan Hubbard, already stopped security allotment under its debenture prospectus in August this year.

The firm will release its audited accounts on or before September 30, and further plans are likely to be announced thereafter. It also indicated that some US-based bond holders and investors are in touch with it for prospective holdings.

New Zealand finds recovery path

New Zealand is set to come out of recession with gradual signs of recovery in the economy. The worst of the crisis seemed to have over, as indicated by migration figures, lower than anticipated unemployment rate, and increase in business confidence level, besides improvement in the real estate segment.

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