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  • Insurer Cover-More to raise $521m in IPO | Business Spectator
    from the continent s ongoing economic crisis The nuclear renaissance is stone cold dead There is no nuclear recovery with the industry last year flailing to stay above water in key markets and its share of global electricity continuing a seemingly inexorable decline Industries Advertising and Marketing Agribusiness Automotive Aviation Construction and Engineering Education Family Business Financial Services Food and Beverages Gaming and Racing Health and Pharmaceuticals HR Industrial relations Information Technology Infrastructure Insurance Manufacturing Media and Digital Resources and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu Insurer Cover More to raise 521m in IPO Brett Cole 2 Dec 2013 2 34 PM DataRoom Equity Capital Markets Industries Insurance Crescent Capital Partners is the latest private equity firm to join the IPO rush and will receive most of the proceeds You must be logged in to read this article Not a member yet Register today Business Spectator is available on all of your devices so you can access the latest news and commentary where and how you like Register now Already a member Sign in here Email Address Enter your Email Address Password Enter the password that accompanies your Email Address Remember me Log in Request new password Cover More Group Ltd a travel insurer and medical assistance company will seek to raise up to 521 2 million in an initial public offering as private equity owner Crescent Capital Partners joins a rush of share sales that are seeking an ASX listing before Christmas The company is selling 260 6 million shares at 2 each according to its prospectus and the proceeds will be used to mostly pay out Crescent Capital as well as fund an acquisition and pay off debt The IPO is priced at 23 1 times forecast 2014 pro forma net profit per share Crescent Capital a Sydney based private equity firm will cut its stake in Cover More from 82 7 per cent to 13 per cent after the IPO and will get most of the 415 8 million in funds from the share sale Of the IPO s remaining proceeds 23 3 million will be used to acquire an Indian business and 124 4 million will be used to repay debt Cover More is scheduled to begin trading on the ASX just two days before Christmas December 23 Macquarie Group Ltd and UBS AG are joint lead managers and will receive the lion s share of the 21 3 million in fees associated with the IPO In 2013 the company had net revenue of 196 2 million and a net profit of 16 6 million Founded in 1986 Cover More provides travel insurance to more than 2 2 million travellers each year and manages more than 40 000 overseas emergency medical assistance cases It has a about a 40 per cent market

    Original URL path: http://www.businessspectator.com.au/news/2013/12/2/equity-capital-markets/insurer-cover-more-raise-521m-ipo (2014-01-13)
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  • Life insurance to absorb super rises | Business Spectator
    with its Android competition But does this phablet do enough to sway attention from its rivals Google v Facebook Who knows wins The unparalleled Google Analytics service means Google knows more about internet users than anyone else And runner up Facebook must go further to mine precious user insights if it wants to compete Climate Carbon markets Energy markets Renewable energy Resources Solar energy Wind power CleanTech Science Environment Green Deals Policy Politics Smart Energy Latest stories Is the EU about to abdicate climate leadership The rift over energy and climate policy is widening in Brussels as politicians feel the pressure from the continent s ongoing economic crisis The nuclear renaissance is stone cold dead There is no nuclear recovery with the industry last year flailing to stay above water in key markets and its share of global electricity continuing a seemingly inexorable decline Industries Advertising and Marketing Agribusiness Automotive Aviation Construction and Engineering Education Family Business Financial Services Food and Beverages Gaming and Racing Health and Pharmaceuticals HR Industrial relations Information Technology Infrastructure Insurance Manufacturing Media and Digital Resources and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu Life insurance to absorb super rises 2 Dec 2013 9 22 AM 1 Industries Financial Services Insurance Life insurance premium hikes could reportedly eat into super contributions You must be logged in to read this article Not a member yet Register today Business Spectator is available on all of your devices so you can access the latest news and commentary where and how you like Register now Already a member Sign in here Email Address Enter your Email Address Password Enter the password that accompanies your Email Address Remember me Log in Request new password Rising life insurance premiums are set to absorb all the rises in the superannuation guarantee over the next six years The Australian Financial Review reports According to the newspaper lifts in claims against death disability and income protection policies are forcing insurers to increase premiums sold through super funds by about 50 per cent Actuarial firm Rice Warner estimates insurance costs will double to two per cent of salary in the next few years diverting a greater proportion of super contributions to life insurance costs rather than to retirement accounts Funds are considering how to better tailor policies to suit different members in response the AFR reports Print this page Related articles 10 Jan Value Investor QBE is still at a premium 10 Jan China s Fosun buys Portuguese insurer in privatisation 06 Jan Why a public asset sell off is on the money 02 Jan IAG boosts catastrophe cover 20 Dec Wesfarmers value is off Target More from Business Spectator Technology Adapt or die Commercial The Future of Energy Family Business Alan Kohler s Family Business China China Spectator Please log in or

    Original URL path: http://www.businessspectator.com.au/news/2013/12/2/insurance/life-insurance-absorb-super-rises (2014-01-13)
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  • Suncorp mulls outsourcing: report | Business Spectator
    Emerging Tech Applications Big Data Cloud Computing Data Management Reviews Social Media Start ups Security Data Security Identity Management Wireless Security Telecommunication Latest stories REVIEW Nokia Lumia 1520 The Nokia 1520 sports a number of key upgrades that bring it the Window s phone platform to parity with its Android competition But does this phablet do enough to sway attention from its rivals Google v Facebook Who knows wins The unparalleled Google Analytics service means Google knows more about internet users than anyone else And runner up Facebook must go further to mine precious user insights if it wants to compete Climate Carbon markets Energy markets Renewable energy Resources Solar energy Wind power CleanTech Science Environment Green Deals Policy Politics Smart Energy Latest stories Is the EU about to abdicate climate leadership The rift over energy and climate policy is widening in Brussels as politicians feel the pressure from the continent s ongoing economic crisis The nuclear renaissance is stone cold dead There is no nuclear recovery with the industry last year flailing to stay above water in key markets and its share of global electricity continuing a seemingly inexorable decline Industries Advertising and Marketing Agribusiness Automotive Aviation Construction and Engineering Education Family Business Financial Services Food and Beverages Gaming and Racing Health and Pharmaceuticals HR Industrial relations Information Technology Infrastructure Insurance Manufacturing Media and Digital Resources and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu Suncorp mulls outsourcing report 20 Nov 2013 9 18 AM Industries Financial Services Insurance Insurer could transfer more than 40 technology jobs to Telstra Optus You must be logged in to read this article Not a member yet Register today Business Spectator is available on all of your devices so you can access the latest news and commentary where and how you like Register now Already a member Sign in here Email Address Enter your Email Address Password Enter the password that accompanies your Email Address Remember me Log in Request new password Suncorp Group Ltd is considering outsourcing more than 40 technology positions including networks telephony and facilities functions The Australian Financial Review reports According to the newspaper the insurer could transfer IT roles to vendors such as Telstra Optus and AAPT The group is also considering outsourcing work in its mainframe and virtual desktop functions the AFR reports Suncorp earlier said it would move some of its software into a cloud computing system Print this page Related articles 10 Jan Value Investor QBE is still at a premium 10 Jan China s Fosun buys Portuguese insurer in privatisation 06 Jan Why a public asset sell off is on the money 02 Jan IAG boosts catastrophe cover 20 Dec Wesfarmers value is off Target More from Business Spectator Technology Adapt or die Commercial The Future of Energy Family Business Alan Kohler

    Original URL path: http://www.businessspectator.com.au/news/2013/11/20/insurance/suncorp-mulls-outsourcing-report (2014-01-13)
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  • Insurance | Business Spectator
    renaissance is stone cold dead There is no nuclear recovery with the industry last year flailing to stay above water in key markets and its share of global electricity continuing a seemingly inexorable decline Industries Advertising and Marketing Agribusiness Automotive Aviation Construction and Engineering Education Family Business Financial Services Food and Beverages Gaming and Racing Health and Pharmaceuticals HR Industrial relations Information Technology Infrastructure Insurance Manufacturing Media and Digital Resources and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu Insurance Suncorp boss slams life insurers Life insurers are too reliant on financial advisers Patrick Snowball says 3 59pm November 19 2 comments iSelect records first strike Shareholders unimpressed on exec bonuses chair lists IPO regrets 4 11pm November 18 1 comment ASIC lets iSelect off the hook Watchdog finds no breach of disclosure on review of internal documents 10 22am November 08 Suncorp chief sells shares to pay tax bill Patrick Snowball has offloaded 655 600 of shares in the insurer to pay tax bill 1 20pm November 05 Govt warned on medical insurance Medibank warns industry is at risk of collapse amid cost blowouts 7 03am November 02 3 comments Wesfarmers mulls insurance sale Company reportedly negotiating with Swiss giant to sell 2bn business 3 16am October 31 Medibank policyholders might get shares Privatisation study will look at whether to issue policy holders with shares if the insurer floats by David Gilmour Eureka Report 10 52am October 30 3 comments IAG reiterates FY guidance Insurer on track to meet forecasts says bushfire claims fall within allowance 9 52am October 30 Suncorp bushfire claims hit 60 70m Group notes 565m natural hazard allowance says lending maintains growth 3 22pm October 29 Govt eyes NIB overseas health plans Health minister wants to learn more about plan to target medical tourism 12 06am October 29 1 comment Life insurers face darkened outlook Industry faces worst conditions in decades as customers ditch policies 5 40am October 26 AMP flags 65m Q4 profit hit Wealth manager warns trend of policy cancellations continues to worsen 9 42am October 25 1 comment Hockey flags Medibank NDIS role Treasurer says soon to be privatized group could be charged with rollout 7 23am October 25 5 comments Switkowski reassures Suncorp New NBN Co executive chairman tells Suncorp AGM he will stay on as chairman 5 04pm October 24 1 comment DataRoom AM Medibank buzz The wheels are turning on a sale of Medibank Private while mooted Pepperstone and Freelancer floats heating up the IPO market by Daniel Palmer 7 23am October 24 Lazard may snare Medibank Private mandate Lazard s predecessor Carnegie Wylie conducted two previous studies on the potential privatisation of the health insurer by Brett Cole 5 16pm October 23 Govt to move on Medibank sale Coalition eyes asset sale before Christmas as it

    Original URL path: http://www.businessspectator.com.au/industries/insurance?page=1 (2014-01-13)
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  • Insurance | Business Spectator
    Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu Insurance Value Investor QBE is still at a premium There is potentially more fallout to come from QBE s ill fated expansion into the US Given its history of disappointment a clean set of financial numbers is needed to restore confidence by Stocks In Value 12 30pm January 10 China s Fosun buys Portuguese insurer in privatisation The Chinese conglomerate will acquire an 80 stake in the insurance arm of Portuguese state bank 8 57am January 10 Why a public asset sell off is on the money Increased competition from the private sector weakens the argument for public ownership of Medibank Private and Australia Post and strengthens the case for giving those companies access to capital to pursue higher returns by Stephen Bartholomeusz 1 23pm January 06 56 comments IAG boosts catastrophe cover Insurer takes advantage of favourable market to bolster reinsurance program 11 01am January 02 1 comment Wesfarmers value is off Target Diversification has created numerous sources of revenue growth for Wesfarmers but its underperforming business units continue to drag down earnings by Stocks In Value 10 46am December 20 2 comments Cover More shares plunge 18 in early trade Shares in the travel insurer and medical assistance company fall sharply on ASX debut by Brett Cole 2 09pm December 19 IAG placement raises 1 2bn Shares fall as insurer completes capital raising to help fund acquisition 11 09am December 17 Lloyd s chooses first female CEO Lloyd s of London chooses Inga Beale to succeed Richard Ward 1 47am December 17 Speed MnA dating Wesfarmers and IAG The 1 84 billion sale of Wesfarmers insurance unit to Insurance Australia Group was done in four weeks by Brett Cole 5 37pm December 16 The premium benefits of the Wesfarmers IAG deal Wesfarmers sale of its insurance underwriting division to IAG has advantages for both parties It will de risk Wesfarmers retail based portfolio and will allow IAG to become a market leader in intermediated insurance by Stephen Bartholomeusz 3 06pm December 16 IAG buys Wesfarmers insurance arm Insurer to pay 1 85bn for underwriting operations enters trading halt to conduct share placement to fund purchase 10 11am December 16 Cover More IPO raises 521m Macquarie and UBS the two leading underwriters of IPOs in Australia placed most of Cover More s shares with key investors two weeks ago by Brett Cole 3 02pm December 11 QBE credit rating cut Moody s downgrade comes as insurer s share price keeps falling on loss forecast 12 05am December 11 Navigating the downgrade deluge Investors may opt to part ways altogether with repeat profit warning offenders especially when factors outside the industry are driving the downgrades by Kirstie Spicer 11 08am December 10 3 comments QBE dives on profit downgrade Insurer sees loss of US250m on North

    Original URL path: http://www.businessspectator.com.au/industries/insurance?destination=taxonomy/term/3006 (2014-01-13)
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  • Point Henry decision in March | Business Spectator
    about to abdicate climate leadership The rift over energy and climate policy is widening in Brussels as politicians feel the pressure from the continent s ongoing economic crisis The nuclear renaissance is stone cold dead There is no nuclear recovery with the industry last year flailing to stay above water in key markets and its share of global electricity continuing a seemingly inexorable decline Industries Advertising and Marketing Agribusiness Automotive Aviation Construction and Engineering Education Family Business Financial Services Food and Beverages Gaming and Racing Health and Pharmaceuticals HR Industrial relations Information Technology Infrastructure Insurance Manufacturing Media and Digital Resources and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu Point Henry decision in March 7 Jan 1 09 AM 2 Industries Manufacturing Resources and Energy Climate Alcoa to make call on future of Vic aluminium smelter report You must be logged in to read this article Not a member yet Register today Business Spectator is available on all of your devices so you can access the latest news and commentary where and how you like Register now Already a member Sign in here Email Address Enter your Email Address Password Enter the password that accompanies your Email Address Remember me Log in Request new password Alcoa will complete a formal review of the long running Point Henry aluminium smelter at Geelong in March with the futures of over 500 workers under a cloud according to The Australian The loss making facility has been rumoured for imminent closure over the past few years though has continued to operate with help from the government That assistance came largely in the form of a 40 million injection from the Commonwealth less than two years ago which required Alcoa to keep the smelter open until at least June this year Australian Workers Union national secretary Paul Howes told The Australian the union was fearful about the decision despite recent improvements at the facility We are very concerned about the future generally of Australian aluminium but Point Henry in particular because it is under formal review Mr Howes said while noting the plant was performing a lot better today than it was six months ago If Point Henry were to close it would be another hit to the Victorian economy which is already facing problems in the wake of the decisions by both Ford and Holden to shutter local manufacturing operations in the coming years Print this page Related articles 08 Jan GM asked to give up Holden 06 Jan Toyota nears Aust decision 06 Jan Abnormal QLD power prices force smelter production cut 03 Jan Ansell completes BarrierSafe buy 02 Jan Chinese manufacturing slips in Dec More from Business Spectator Technology Adapt or die Commercial The Future of Energy Family Business Alan Kohler s Family Business China China Spectator Please log in

    Original URL path: http://www.businessspectator.com.au/news/2014/1/7/manufacturing/point-henry-decision-march (2014-01-13)
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  • Ansell completes BarrierSafe buy | Business Spectator
    parity with its Android competition But does this phablet do enough to sway attention from its rivals Google v Facebook Who knows wins The unparalleled Google Analytics service means Google knows more about internet users than anyone else And runner up Facebook must go further to mine precious user insights if it wants to compete Climate Carbon markets Energy markets Renewable energy Resources Solar energy Wind power CleanTech Science Environment Green Deals Policy Politics Smart Energy Latest stories Is the EU about to abdicate climate leadership The rift over energy and climate policy is widening in Brussels as politicians feel the pressure from the continent s ongoing economic crisis The nuclear renaissance is stone cold dead There is no nuclear recovery with the industry last year flailing to stay above water in key markets and its share of global electricity continuing a seemingly inexorable decline Industries Advertising and Marketing Agribusiness Automotive Aviation Construction and Engineering Education Family Business Financial Services Food and Beverages Gaming and Racing Health and Pharmaceuticals HR Industrial relations Information Technology Infrastructure Insurance Manufacturing Media and Digital Resources and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu Ansell completes BarrierSafe buy 3 Jan 10 51 AM DataRoom Mergers Acquisitions Industries Manufacturing Protective clothing maker acquires purchase of single use glove provider You must be logged in to read this article Not a member yet Register today Business Spectator is available on all of your devices so you can access the latest news and commentary where and how you like Register now Already a member Sign in here Email Address Enter your Email Address Password Enter the password that accompanies your Email Address Remember me Log in Request new password AAP Protective clothing and condom maker Ansell Ltd has completed its US615 million A692 29 million purchase of US based BarrierSafe Solutions International Ansell announced on November 25 it had agreed to buy the North American provider of single use gloves from Odyssey Investment Partners and others Founded in 1987 BarrierSafe has sales of approximately US290 million per annum Ansell said It produces single use gloves and protective footwear and employs around 250 people With the acquisition Ansell further expands its position in the hand protection market in North America and continues to implement its strategy to create shareholder value through organic and acquisition driven growth the company said in a statement at the time It said acquisition and associated transaction costs would be funded by a committed debt facility of US300 million the raising of new equity through a fully underwritten private placement of A338 million and a portion of a non underwritten share purchase plan SPP of up to A100 million to all eligible shareholders in Australia and New Zealand Print this page Related articles 08 Jan GM asked to give up Holden 07

    Original URL path: http://www.businessspectator.com.au/news/2014/1/3/manufacturing/ansell-completes-barriersafe-buy (2014-01-13)
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  • Chinese manufacturing slips in Dec | Business Spectator
    competition But does this phablet do enough to sway attention from its rivals Google v Facebook Who knows wins The unparalleled Google Analytics service means Google knows more about internet users than anyone else And runner up Facebook must go further to mine precious user insights if it wants to compete Climate Carbon markets Energy markets Renewable energy Resources Solar energy Wind power CleanTech Science Environment Green Deals Policy Politics Smart Energy Latest stories Is the EU about to abdicate climate leadership The rift over energy and climate policy is widening in Brussels as politicians feel the pressure from the continent s ongoing economic crisis The nuclear renaissance is stone cold dead There is no nuclear recovery with the industry last year flailing to stay above water in key markets and its share of global electricity continuing a seemingly inexorable decline Industries Advertising and Marketing Agribusiness Automotive Aviation Construction and Engineering Education Family Business Financial Services Food and Beverages Gaming and Racing Health and Pharmaceuticals HR Industrial relations Information Technology Infrastructure Insurance Manufacturing Media and Digital Resources and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu Chinese manufacturing slips in Dec 2 Jan 4 00 PM Industries Manufacturing Economy China HSBC survey shows activity falls but sector keeps expanding You must be logged in to read this article Not a member yet Register today Business Spectator is available on all of your devices so you can access the latest news and commentary where and how you like Register now Already a member Sign in here Email Address Enter your Email Address Password Enter the password that accompanies your Email Address Remember me Log in Request new password By a staff reporter with AAP Activity in the Chinese manufacturing sector has fallen in line with expectations to a three month low in December according to a private survey The HSBC China manufacturing PMI fell to 50 5 in line with Bloomberg forecasts A reading above 50 indicates the sector is expanding while a print below 50 indicates contraction In November the index printed at 50 8 while the index stayed in expansionary territory for the fifth consecutive month in December HSBC chief economist for China Hongbin Qu said the moderation of the index was mainly due to slower output growth However the final PMI sustained the fifth above 50 reading in a row thanks to a steady increase of new orders The recovering momentum since August 2013 is continuing into 2014 in our view With inflation still benign we expect the current monetary and fiscal policy to remain in place to support growth Yesterday official figures showed the purchasing managers index PMI for December was at 51 0 down from November s 51 4 according to the National Bureau of Statistics Print this page Related articles 13 Jan China

    Original URL path: http://www.businessspectator.com.au/news/2014/1/2/china/chinese-manufacturing-slips-dec (2014-01-13)
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