SHAREHOLDERS HAPPY TO FUND CTD EXPANSION

SHAREHOLDERS HAPPY TO FUND CTD EXPANSION

SHAREHOLDERS of Corporate Travel Management (ASX: CTD) have backed the company’s expansion plans with their hard-earned dollars, with 97.71 per cent taking up the option to buy shares in the company’s capital raising offer. CTD announced a four for 27 renounceable rights issue for ordinary shares in CTD on November 20, at a pr...

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ANNE STREET PARTNERS EXPANDS TAX DIVISION

ANNE STREET PARTNERS EXPANDS TAX DIVISION

Anne Street Partners has expanded its taxation division with seasoned tax professional Peter Kennewell heading the new team. The tax division has been boosted to cater for the broad needs of the group’s 5000 clients nationally. The team works closely with Anne Street Partners’ in-house superannuation division, Anne Street Partners Su...

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HOMEOWNERS RELIEVED BY STEADY INTEREST RATES

HOMEOWNERS RELIEVED BY STEADY INTEREST RATES

 THE Reserve Bank of Australia has decided to keep official interest rates on hold at 2.5 per cent today, pleasing homebuyers and mortgage holders according to Place Estate Agents. Place advisory director Lachlan Walker says affordability in Brisbane is at record highs. “The Brisbane residential property market has been sta...

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ERM BUYS POWER STATION, PAYS OFF DEBT

ERM BUYS POWER STATION, PAYS OFF DEBT

ERM Power (ASX:EPW) has bought the Oakey Power Station outright and paid off its debt in the process by raising $74.7 million through a share placement. The cost of buying the remaining 16.67 share in the power station was $31.5 million and the rest of the capital will be used to pay EPW’s outstanding $40.9 million debt. EPW iss...

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SUNCORP TAKES HUNDREDS OF FIRE CLAIMS

SUNCORP TAKES HUNDREDS OF FIRE CLAIMS

SUNCORP (ASX:SUN) has received about 400 NSW bushfire claims estimated to cost the insurer between $60 million and $70 million. The group carries full-year natural hazard allowance of $565 million so is well covered in the event of this natural disaster, but there is risk things could get worse as the bushfire season is in its early stage...

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RBA LEAVES RATE UNCHANGED

RBA LEAVES RATE UNCHANGED

The Reserve Bank of Australia (RBA) decided today to leave the cash rate unchanged at 2.5 per cent, noting inflation is within the target range and both Australian and global growth is only slightly below average.

RBA Governor Glenn Stevens (pictured) says the Australian economy’s “a bit” below average growth is expected to con...

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BOQ GETS BOOST IN CREDIT RATING

BOQ GETS BOOST IN CREDIT RATING

 BANK of Queensland (ASX: BOQ) has had its long-term credit rating upgraded to ‘A-’ from ‘BBB+’ by data and analysis group Standard & Poor’s. It’s the first time BOQ has held an ‘A’ category long-term credit rating and comes after two years of hard work by the bank to rebuild its bu...

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CASH RATE CUT TO 2.5 PER CENT

CASH RATE CUT TO 2.5 PER CENT

THE decision to cut the official interest rate today shows the economy is in transition, says Colliers International research director Mark Courtney. Responding to the Reserve Bank of Australia’s resolution to lower the cash rate by 25 basis points to 2.5 per cent, Courtney says it is now lower than even during the height of the global eco...

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DOLLAR DIPS AS RBA HOLDS GROUND

DOLLAR DIPS AS RBA HOLDS GROUND

THE Reserve Bank of Australia has held its ground on interest rates for another month, but a dovish tone from Governor Glenn Stevens regarding the state of the local economy has put immediate pressure on the dollar. The RBA, as expected, held the official cash rate at 2.75 per cent with Stevens citing higher unemployment and subdued household bo...

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NATURAL DISASTERS IMPACT STATE BUDGET

NATURAL DISASTERS IMPACT STATE BUDGET

TREASURER and Minister for Trade, Tim Nicholls has described the 2013-14 State Budget as a ‘no-frills, no-nonsense budget’ that will deliver the frontline services Queenslanders expect, while fostering economic growth.

He says natural disasters had had a major impact on the framing of this year’s Budget.

“This Budget...

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BOQ TURNS BIG PROFIT

BOQ TURNS BIG PROFIT

BANK of Queensland (ASX: BOQ) has bounced back from a full-year loss of $91 million to record a strong $100.5 million statutory profit for the six months to February. The bank reported 16 per cent increase in cash earnings after tax to $119.9 million, and a 37 per cent increase in statutory profit to $100.5 million, compared to the prior half. I...

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CROMWELL RAISES $193 MILLION

CROMWELL RAISES $193 MILLION

CROMWELL Property Group (ASX: CMW) has raised $193 million through the institutional component of its capital raising venture.

The retail offer is expected to raise a further $57 million and opens on May 31.

The cash will partly fund the $405 million purchase of seven Sydney office assets from the New South Wales Government and to p...

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REBRAND IS KEY TO CASH GROWTH

REBRAND IS KEY TO CASH GROWTH

Nimble co-founder Greg Ellis (pictured) says the company will beef up its marketing campaign this year to continue growth.

The short-term lender's rebranded company, formerly called Cash Doctors, has almost tripled its revenue in the past three years to $12.6 million and employs 68 employees.

An updated software system, whi...

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BOQ ACQUIRES VIRGIN MONEY

BOQ ACQUIRES VIRGIN MONEY

BANK of Queensland (ASX: BOQ) has today announced its $40million acquisition of Virgin Money Australia (VMA), the Australian retail financial services arm of the Virgin Group. The deal is the latest attempt by Virgin founder Richard Branson (pictured) to grab a slice of the financial services market in Australia. The agreement extends...

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CREDIT USAGE RISES - OPTIMISM TOO

CREDIT USAGE RISES - OPTIMISM TOO

ACCORDING to D&B’s Consumer Credit Expectations Survey, consumers are showing a less cautious approach to spending and letting savings fall by the wayside. 41 per cent said they will use their credit card for purchases they can't otherwise afford in the coming months. This weighs in at the highest level in three years, and D&B presu...

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TRADE FOR THE RIGHT REASONS

TRADE FOR THE RIGHT REASONS

BEFORE heading to Asia, it’s a good idea to work out exactly why your business is going there. Businesses need to understand the markets they are entering in Asia and how their products or services fit and engage with corporate advisors and governments in each country. That’s the advice from partners Dennis Lin and Cameron MacMillan ...

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GOOD SIGNS IN TOUGH MARKETS

GOOD SIGNS IN TOUGH MARKETS

KEEPING overheads low and maintaining a hawk-eye on profitability has helped lessen any local impact resulting from global financial volatility. In a world of fiscal turbulence, RBS Morgans has emerged fighting-fit. While the European Union contends with multiple sovereign debt crises and the United States tries to stomach its US$16 trillion nat...

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NEW KEY TO EQUIPMENT FINANCE

NEW KEY TO EQUIPMENT FINANCE

A BRISBANE commercial borrowing brokerage hopes its new loan comparison website will encourage greater transparency. Finnovate will become the largest webbased equipment finance comparison service, if owner Chris Beath (pictured) has his way. The start-up, a subsidiary of equipment finance brokerage A Class Business Finance (ACBF) hopes to captu...

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BEWARE TAX DODGERS: ATO REACH BOOSTED

BEWARE TAX DODGERS: ATO REACH BOOSTED

NEW data-matching technology has given the Australian Taxation Office an unprecedented edge in identifying and punishing tax evaders. There are now 500 million reasons not to chance your arm against the Australian Taxation Office (ATO) as the 2011-12 financial year comes to a close. High-speed computers and advanced programming enables the ATO t...

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ONLINE BROKERING TO PAY OFF FOR RENEGADE START-UP

ONLINE BROKERING TO PAY OFF FOR RENEGADE START-UP

A NEW website promises to give financial advisors unprecedented internet and mobile interactivity. Jaci Smith (pictured) is confident her new website My Local Broker will change what she calls a lack of online presence in the financial services sector. The Renegade Finance Group (RFG) founder claims many brokers fail to keep up with technology c...

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