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  • sentenced Nick to 6 years in prison Lisa his wife got a job as an air hostess to be able to visit him regularly At first their marriage survived the strain of being apart but what Lisa could not abide were his revelations of his infidelity with Geisha girls and she divorced him More than 1000 people attended the conference Technology companies set up stands to flog the latest in trading technology Technology start up Zeptonics which specialises in speeding up network infrastructure within exchanges and co location facilities had a display The company s principal of hardware Charles Thomas later explained why microwave technology was appealing to traders You find a lot of the traders if you can get the fastest connection between exchanges you open up the opportunity to beat everyone else in arbitrage and other sorts of transactions he said So if you can get a line of sight microwave link then that s got two advantages Not only is the data travelling faster over the distance but it can actually be shorter you know point to point rather than running along existing cabling conduits which creates a sort of zig zag path He said this technology was already being used in the US After the conference attendees kicked on at the Sydney Hilton s Marble Bar A few rounds in and talk turned to the controversy over high frequency trading They said there was nothing to be afraid of that technology would keep advancing like it always has and that we would all benefit As they see it HFT has become a scapegoat an excuse used by brokers to explain why the sharemarket is still a disappointment more than four years after the financial crisis As one trader put it You wouldn t be hearing about any of this stuff if volumes were higher It s all crap The choice of metaphor is an interesting one The term scapegoating refers to the ancient and barbaric ritual where one s sins were placed on a goat before it was led into the desert and hurled off a cliff In this corner of the financial world there s an idea that those who are complaining the loudest about HFT are the ones who ve been caught on the hop by the technology or the ones with the clients who are becoming angrier about their inability to make money in the post GFC sharemarket Or maybe they just don t understand the new world But whatever the reason they ve thrown their sins onto the new technology and pushed it out into the public realm But that s not how the other side sees it ASIC chairman Greg Medcraft says this issue has the attention of regulators all over the world and that some bankers have expressed to him real concerns about it While some say high frequency trading provides liquidity I know some very senior bankers that privately describe it as providing only phantom liquidity he told the

    Original URL path: http://www.apx.com.au/NEWS/ViewArticle.aspx?ArticleID=387 (2015-10-07)
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  • earlier this year We have held preliminary discussions with the Chinese government to explore how soon direct convertibility can be practicably achieved the white paper states We are continuing these discussions and also exploring other opportunities to work with China to support the internationalisation of the RMB While it used to be that only the US had such rights Beijing now allows the Japanese yen the Malaysian ringgit and the Russian rouble to be traded directly Nine currencies including the Australian dollar are convertible with the yuan on the Chinese foreign exchange market but direct trading means there is no need to use the greenback as an intermediary The move to allow direct trading between the Aussie dollar and the renminbi would be significant as China is Australia s biggest trading partner and export market and an agreement would be seen as strengthening ties The chairman of the China Australian Chamber of Commerce in Beijing David Olsson welcomed the decision He said the decision by the RBA to enter into the 30 billion standby swap with China s central bank had sent a strong signal to China that the government was supportive of the internationalisation of the renminbi Critical to Australia s ability to surf the Asian wave will be our ability to be more closely integrated financially within the region Mr Olsson said This new step takes that further by giving business the tools necessary to take advantage of the rise of the renminbi By creating direct links with the most important currency in the region the cost to Australian business when dealing with China will be reduced and currency risk will be minimised Mr Olsson a partner at the office of law firm King Wood Mallesons in Beijing said the move was far sighted and in time may

    Original URL path: http://www.apx.com.au/NEWS/ViewArticle.aspx?ArticleID=388 (2015-10-07)
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  • cent up from 97 400 2 600 per cent Nomura rates strategist Martin Whetton said bond prices had initially risen on Friday following moves on global markets Advertisement Equity markets had fallen and core bond markets rallied so we went along with that he said It was really what happened with the bigger markets He added that with little local data the market would be watching international developments to guide bond prices We have building approvals here but I don t think the result will change the RBA Reserve Bank of Australia s view on the economy he said But I think we ll stay reasonably high this morning and probably tomorrow The biggest influence or lack thereof is going to be from the US which is likely going to be shut for trading for a few days because of the storm Hurricane Sandy is due to hit the east coast of the US including New York on Monday Mr Whetton added that regional developments including gross domestic product GDP data from China and a Bank of Japan meeting would influence the market later in the week Source http news smh com au breaking news business bonds higher on global

    Original URL path: http://www.apx.com.au/NEWS/ViewArticle.aspx?ArticleID=242 (2015-10-07)
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  • He called for the establishment of a National Commission on Resource Sector Competitiveness representing politics industry and academia to provide strategic direction over the next couple of decades It has become commonplace for mining executives to lament the cost of doing business in Australia BHP Billiton s Marius Kloppers made similar comments in Brisbane last week Peabody s Mr Boyce also provided a raft of statistics to argue how uncompetitive the nation had become The fact is that inflationary pressures a strengthening Australian dollar permitting delays and a barrage of additional tax burdens at both a federal and state level have compromised Australia s international competitiveness he said If you don t have any exports there will be zero tax He cited research from consultants Port Jackson Partners and PricewaterhouseCoopers showing more than half of Australia s mines had costs above global averages including a tripling in the last five years to 66 per cent above the global average for thermal coal The average delay for project permits was 3 1 years compared to a global average of 1 8 years taxes for miners in Queensland and NSW paid were above average and electricity prices for companies were up 80 to 130 per cent since 2005 We all need to step away from the near sighted fixation on the mining boom that has characterised so much of the discussion on Australia s minerals policies in recent years he said Booms are inherently short lived and Australia must start taking a much broader view to ensure that its resource sector is sustainable and competitive in the long term The time has come for a national approach to ensuring that Australia s mining sector is positioned to take full advantage of the opportunities presented by large scale urbanisation in the Asia Pacific

    Original URL path: http://www.apx.com.au/NEWS/ViewArticle.aspx?ArticleID=241 (2015-10-07)
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  • Australia 2012 10 18 ASX Seeks Answers For Aussie Share Trading Spike 2012 10 17 ASX releases continuous disclosure revisions 2012 8 23 Aussie Corporate Bond Market Sparks into Life 2012 8 16 ASX Open to Equal Merger 2012 7 20 Stocks set to consolidate gains as dollar climbs 2012 7 12 Telstra offloads NZ subsidiary takes forex loss 2012 7 12 Dollar demand may see currency higher RBA 2012 7 12 Prepare for boom to slow economists 2012 6 18 Resources investment hits record on Asian demand 2012 6 18 Dollar stocks to benefit from Greek poll result 2012 6 13 PropertyGuru Eyes Australian IPO 2012 6 12 Expats Casualties in Australia Mining Boom 2012 6 06 Qantas International enters dire straits 2012 6 06 Benchmark cut to 3 5 2012 6 06 Australian business press digest June 6 2012 6 06 Ten to raise 200m as revenue slumps 2012 6 06 Mining equipment imports drives up deficit 2012 5 24 BHP sells 2b euro bonds to spread funding 2012 5 24 Bonds firmer as euro zone doubts persist 2012 5 24 A slightly lower after EU summit 2012 5 24 ACCC clears way for AGL to buy Loy

    Original URL path: http://www.apx.com.au/NEWS/ViewArticleList.aspx?CategoryID=39&ArticleTypeID=8 (2015-10-07)
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  • slow relative declines It also said China s total GDP will be 2 4 times as large as Japan s by 2030 and that Asia will have surpassed North America and Europe combined in terms of global power based upon GDP population size military spending and technological investment The report is the first by the intelligence organization to give a specific prediction of when China will become the world s largest economy Still the US is likely to remain first among equals in the division of global power the report said As China s contribution to the global economy increases the country is exerting ever greater influence on the United Nations the World Bank and the International Monetary Fund the report said By 2025 China will be the source of a third of all global economic growth much more than any other economy in the world it said The IMF has predicted that China will have the biggest economy by 2016 It is likely that China will expand to the largest economy in the next 20 to 30 years said Pieter P Bottelier a senior adjunct professor on China studies at the School of Advanced International Studies at Johns Hopkins University According to Chinese Academy of Social Sciences research economic reforms will help ensure China s GDP grows at an average rate of between 7 5 and 8 percent in the next 10 years Economic growth in emerging markets is expected to be an impetus for technological innovation and lead to an increase in the flow of companies ideas entrepreneurs and capital to developing countries the report said During the next 15 to 20 years more technological activities are likely to move to the developing world as multinationals focus on the fastest growing emerging markets and as Chinese Indian Brazilian

    Original URL path: http://www.apx.com.au/NEWS/ViewArticle.aspx?ArticleID=401 (2015-10-07)
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  • be lower than the projection at the beginning of the year He also warns that while picture in 2013 will be slightly better it won t be an easy path Chen Deming Chinese Commerce Minister said There are still many uncertainties For example we re concerned about the U S fiscal cliff and whether the EU budget can be passed We also keep track of the fluctuating price in commodities

    Original URL path: http://www.apx.com.au/NEWS/ViewArticle.aspx?ArticleID=398 (2015-10-07)
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  • China will meet the 7 5 percent growth target this year For investment analysts many are still bullish albeit cautiously so They say China will manage to meet its growth target but only after scrambling They say that in a short term the Chinese economic recovery will be a U shaped one with the second and third quarters at the bottom of a U shape curve Qiao Hong Chief China Economist of Morgan Stanley said Chinese GDP growth may pick up to around 8 2 percent annually in 2013 Some people argue that this prediction is relatively bearish but we see it as a prudent view Many experts are concerned that China will have to cope with a series of looming uncertainties out of policymakers control like the U S fiscal cliff and the European debt crisis They also point out there are challenges at home An increase in labour costs and the associated decline in Chinese manufacturing competitiveness is just one of them Yao Jingyuan Policy Advisor of State Council said For next year China should focus more on the quality and efficiency of economic growth implement structural reform and renew the growth model Source http english cntv cn

    Original URL path: http://www.apx.com.au/NEWS/ViewArticle.aspx?ArticleID=399 (2015-10-07)
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