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  • places in Mercer s list to land in the 11th spot and Melbourne jumped six spots to 15th place They re both now joined by Perth the hotbed of the country s mining industry which leapt 11 places to become the world s 19th most expensive city Not far behind is Canberra the nation s capital which took the 23 slot followed by Brisbane which jumped seven places to land in 24th position and Adelaide which rallied 19 spots to come in 27th The survey has to be treated with some caution The soaring Australian dollar just as it has crippled the earnings of some manufacturers also explains much of the spike in the rankings Mercer measures living costs denominated in the U S currency and the so called Aussie continues to trade at historical highs against the U S dollar The appreciation of the Australian dollar has itself been fuelled by the mining boom which is helping prop up the nation s economy during a time when many of the country s peers buckle under mounting debt levels and slowing growth Still the exchange rate impact on the survey will be of little to comfort to expatriates who also recently lost a key tax break for people living away from home and are likely to be among those who are increasingly avoiding shopping malls in favor of buying goods cheaper online Making sure salaries adequately reflect the difference in cost of living to the employee s home country is important in order to attract and retain the right talent where companies need them said Nathalie Constantin Métra Principal at Mercer in a release accompanying its new Worldwide Cost of Living Survey It s not just expats in Australia suffering from stinging bills Across the Tasman in New Zealand both

    Original URL path: http://www.apx.com.au/NEWS/ViewArticle.aspx?ArticleID=121 (2015-10-07)
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  • can run into financial difficulties They also understand the disruption to passenger welfare that can take place if a carrier is unable to continue operations because of financial difficulties Profit downgrade While many analysts and commentators will cite industrial relations problems the Qantas lockdown and structural disadvantages as the key sources of the Qantas profit downgrade and the losses incurred by the international business the reality is that the poor result is mostly attributable to the group s two biggest financial exposures the economy and jet fuel prices And the carrier has been exposed to these two variables for its entire existence in the same way that other airlines around the world are exposed to these two forces So why hasn t Qantas learnt from past experience in terms of dealing with elevated oil prices and a weak economy Price taker Part of the answer to this question is that Qantas is now a much smaller player in the international market and thus has less control over market capacity than it used to unlike in the domestic market where it has major control of market capacity Because it is now a price taker in the international market before it was a price maker Qantas yields or average airfares are now more at the mercy of market seats or capacity This situation is particularly true for yields at the back of the plane where the percentage of passengers who prioritise price is high and increasing Seats in the Australian international aviation market have grown on average by 6 per cent over the past 12 months This trend is one percentage point above the long run average This above trend growth in capacity has occurred despite a US20 increase in the jet fuel price and very weak economic conditions in the global economy including weak consumer confidence high unemployment rates and falling asset prices particularly house prices and equities The latter two have especially impacted adversely household and corporate wealth and the spending that is financed by that wealth How many businesses do you know that have experienced a significant slowdown in underlying demand combined with a rapid increase in unit costs but have decided to expand production at around 20 per cent above the long run average Capacity growth If the market doesn t curb this above trend growth in global capacity then no international airline in the world will make money Capacity should be growing at half the trend pace and in the present environment a very good business case could be constructed for reducing capacity not just slowing its growth The problem or course is convincing new carriers that are in an expansion phase or are owned by governments that wish to diversify their economies and promote tourism to stop their plans and put them in reverse They just won t If these fast growing airlines don t stop then the airlines that are really suffering will not want to concede market share and so they are seemingly coerced

    Original URL path: http://www.apx.com.au/NEWS/ViewArticle.aspx?ArticleID=77 (2015-10-07)
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  • system while concerns mount that the US economy may stall Some commentators had tipped that the RBA would cut rates by 50 basis points to provide a shot of confidence to the economy Still yesterday s move saw investors return to the sharemarket lifting the benchmark index by 1 5 per cent to 4043 7 points winning back some ground after Monday s horror 22 billion slide The dollar rose by nearly three quarters of a US cent on news of the cut finishing the Australian session at US97 82 Bank of Queensland wasted no time announcing its decision to reduce borrowing rates though by less than the RBA s move BOQ will cut 20 basis points from its standard variable rate effective from June 16 taking it to 6 91 per cent Attention now shifts to the big commercial banks as borrowers wait to see how much of the rate cut they will pass on The big four banks last month passed on an average of 36 5 basis points of the 50 basis point cut Economists said the RBA s decision left the door open for further cuts if global economic activity deteriorated further Last night most were tipping the RBA would cut by a further 50 basis points by the end of the year This would take the official benchmark rate to the 3 per cent it reached during the GFC We re looking for at least one more cut but our rates outlook is under review at the moment and clearly the risk is that terminal cash ends up below 3 25 per cent by the end of the year said RBC Capital Markets Su Lin Ong In the statement announcing the cut RBA governor Glenn Stevens said financial market sentiment has deteriorated over the past

    Original URL path: http://www.apx.com.au/NEWS/ViewArticle.aspx?ArticleID=78 (2015-10-07)
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  • move would generate some short term confidence it would be hard to see strong gains in the market until there was a more substantive solution to the European debt crisis Page 35 The International Energy Agency yesterday announced that Australia s A 205 5 billion pipeline of liquefied natural gas ventures may be held up by high costs and various other project risks which could cause gas prices to surge in 2015 These projects are likely to face many challenges including higher capital costs and workforce shortages they are expected to come on later than announced the agency stated in a report Page 35 James Hogan chief executive of Etihad Airways last night confirmed that the airline was holding discussions with the Foreign Investment Review Board to increase its holding in rival Virgin Australia Certainly we don t intend to become a majority investor We re keen to have a strong minority stake that strengthens our partnership with Virgin Australia Mr Hogan said Page 35 Shares in Qantas Airways yesterday plunged by A26 5 cents to A 1 155 after chief executive Alan Joyce announced that the company was scheduled to report its first annual loss since listing on the local stockmarket in 1995 The airline is now worth A 2 6 billion on the market well below the A 11 billion takeover offer from Airlines Partners Australia that was rejected by Qantas shareholders in 2006 Page 35 THE SYDNEY MORNING HERALD www smh com au Analysts NAB Global Markets yesterday warned that Qantas Airways could see its credit rating downgraded by global agencies after Qantas chief executive Alan Joyce predicted annual underlying profit to decrease by 91 percent Mr Joyce yesterday tried to reassure investors that Qantas cashflow remained strong and that no plans for an equity raising to bolster capital were underway Page B1 The Australian Securities and Investments Commission yesterday confirmed that there was insufficient evidence to prosecute Jack W Flader the former Hong Kong businessman behind the largest superannuation theft in Australian history Deb O Neill who led a parliamentary inquiry into the matter said that it was now the responsibility of the Australian Federal Police and the Australian Crime Commission to investigate Around A 123 million in funds was scammed through a complicated nexus of foreign funds Page B3 PPB Advisory the administrators of Hastie Group yesterday declared that buyers had been found for the collapsed engineering firm s mechanical services division D E Air Conditioning and its Cooke Carrick hydraulics business preventing 408 employees from being made redundant Craig Crosbie partner at PPB Advisory said he expected three more units to be sold off shortly which would save another 50 jobs Page B3 Warrnambool Cheese Butter yesterday said reductions in prices for commodity dairy products like skim milk powder had forced the company to lower its profit projections for the current financial year The cheese and butter manufacturer announced that net profit after tax would be as much as 30 percent lower than last

    Original URL path: http://www.apx.com.au/NEWS/ViewArticle.aspx?ArticleID=79 (2015-10-07)
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  • 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 Power play a winner for AGL 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 Health energy stocks support Aust market 2012 5 24 ACCC clears way for AGL to buy Loy Yang 2012 5 24 Europe s leaders bicker over crisis resolution 2012 5 24 Brierley narrowly survives GPG board push 2012 5 16 ASX s proposed rules must be tightened before use 2012 5 03 Westpac posts 3 2b cash profit 2012 5 01 Australian Banks Target Asia As Europe Retreats Asia Pacific Stock Exchange Head Office Level 16 Central Square 323 Castlereagh Street SYDNEY NSW 2000 Australia Phone

    Original URL path: http://www.apx.com.au/NEWS/ViewArticleList.aspx?CategoryID=20&ArticleTypeID=8 (2015-10-07)
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  • companies and enhancing the quality of dividend distribution In the US market dividend thematic investment has become a major investment strategy so the investors pay much attention to the listed companies with high dividend distribution The ETF products rapidly growing in recent years have taken dividend indices as crucial investment targets According to latest statistics among the ETFs traded in the US market the number of the dividend index related ETFs has reached 52 with the total managed assets up to USD50 billion The soaring growth of the dividend oriented investment products will contribute to propelling the dividend distribution of listed companies The SSE early attached importance to the role of dividend thematic indices in driving the dividend distribution of listed companies As early as January 4 2005 the SSE released SSE Dividend Index and selected 50 kinds of stocks with high dividend rates large market capitalization and ample liquidity in the Shanghai market as constituents Furthermore the ETF product with SSE Dividend Index as the tracking target was released in 2006 and was taken as the target of margin trading and securities lending in 2011 With the number of the SSE listed companies distributing dividend increased and the dividend distribution of the SSE listed companies improved the conditions for compiling and developing more dividend indices have been met as well The SSE by focusing on the construction of the blue chip market and the concept of value investing plans to continuously develop dividend indices and guide listed companies to perform the responsibility of dividend distribution by market orient means Blue chip series and actual controller series dividend indices will be released soon Upon previous study the SSE will initially two series of dividend indices One is SSE Blue Chip Series Dividend Indices including SSE 180 Dividend Index and SSE 380 Dividend Index The other is SSE Actual Controller Series Dividend Indices including SSE State owned Enterprise Dividend Index SSE Central State owned Enterprises Dividend Index and SSE Private Enterprise Dividend Index The market structure characterized by the 3 boards of typical companies with blue chip shares rising companies with blue chip shares and promising companies with blue chip shares has been built by the SSE so far SSE 180 Index and SSE 380 Index have become the representative indices for the boards of typical companies with blue chip shares and promising companies with blue chip shares respectively As the listed companies within the above 3 boards are at different stages with great discrepancies in terms of market capitalization size and industry their capabilities and characteristics of dividend distribution are considerably different as well Most of the constituent companies of SSE 180 Index are large blue chip companies in the traditional industries related to finance energy raw material etc which could give stable and rich cash return to investors for their stable performance as well as strong intentions of dividend distribution and good abilities of dividend distribution Last year the constituent companies of SSE 180 Index distributed cash dividend of

    Original URL path: http://www.apx.com.au/NEWS/ViewArticle.aspx?ArticleID=156 (2015-10-07)
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  • Among them Lepu Medical and other 45 companies were appraised as Grade A accounting 16 37 of the total number Tgood and other 204 companies were appraised as Grade B accounting 72 95 of the total number Bode Energy Equipment and other 28 companies were appraised as Grade C accounting 10 32 of the total number Zhendong Pharmaceutical was appraised as Grade D accounting 0 36 of the total number According to the relevant responsible person of Shenzhen Stock Exchange this is the first appraisal after the implementation of the new Appraisal Measures On the basis of dynamic appraisal on the timeliness correctness completeness and compliance of the routine information disclosure Appraisal Measures on Information Disclosure of Public Companies revised by SZSE in 2011 establishes quantitative comprehensive appraisal indicators system in the fields of information disclosure standardized operation supervision measures and penalty on violation of regulation increases the link of listed company self evaluation further improves the objectivity of appraisal standard and openness of appraisal process fairness of appraisal result and the scientific appraisal measure and thus gives a better play of the positive guiding of information disclosure appraisal to listed companies regulatory operation As SZSE s appraisal results for information disclosure showed listed companies with Grade A appraisal results for example China Merchants Property Hikvision Lepu Medical etc operate in a standardized way disclose information in high quality and play exampling roles in the market However there are also a few companies for example Extra ST Chalkis Rainbow Fine Chemical Industry etc appraised as D grade for the reasons of violation of information disclosure regulation failure in disclosing the major events in timely manners and major accounting errors etc It is also reported that on November 24 2011 SZSE piloted information disclosure through system on 155 companies which had

    Original URL path: http://www.apx.com.au/NEWS/ViewArticle.aspx?ArticleID=155 (2015-10-07)
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  • recognize that a Chinese company listed overseas is not an easy task Kada Chief Financial Officer Lee Kheng Yam told Reuters It brings with it a certain prestige and corporate brand recognition that would open doors for us in order to get better terms with the banks in China as well as our suppliers and business associates The company would likely start trading on AIM later this month under the ticker symbol KADA There has been a drought in Chinese companies applying for U S listings in recent years as accounting scandals and slow growth have shaken investor confidence Kada Technologies which was founded in 2004 distributes and sells electronic components such as chips for netbooks tablets and other handheld devices Kada reported more than 13 million in pretax profit on revenue of about 82 million for 2011 and expects double digit growth in both profit and revenue this year the CFO said The company is looking to go public at a time when macro economic issues including the euro zone crisis and China s economic slowdown have made many investors shy away from pumping in money into fresh listings AIM saw 21 IPOs in the first six months of this year up from 19 in the first half of 2011 However the total amount raised from IPOs globally nearly halved in the same period according to Thomson Reuters data Some bankers are even advising clients to put their listing plans on hold But for Kada which is aiming to raise more than 1 million pounds a relatively small amount the intention is to get listed The London market is just a platform for listing and gives us more possibilities for fundraising in the future Lee Kheng Yam said We could get listed in Hong Kong or China but for

    Original URL path: http://www.apx.com.au/NEWS/ViewArticle.aspx?ArticleID=145 (2015-10-07)
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