Tag: Finance

Australian surfwear brand Billabong has suffered terribly as a result of the appreciation of the Australian dollar, with international sales up, but profit down 4.5 percent.

Overcharging by telecommunications companies is rife, according to a draft discussion paper Hidden Overcharging in Telecommunications which seeks comment as to how to overcome overcharging in the industry.

Direct Factory Outlets’ (DFO) failed South Wharf complex in Melbourne will see the insolvency firm KordaMentha called in as receivers for DFO owners Austexx as early as this afternoon.

Shopping centre manager and developer Lend Lease delivered an increase in profits of 5.2 percent to $323.6 million for the year ending 30 June as the company fills out its development pipeline.

MYOB, has released its latest online accounting software solution, MYOB LiveAccounts, for Australian businesses that need to raise invoices, track expenses and manage income.

National Australia Bank’s plans to acquire AXA Asia Pacific Holdings Ltd and AXA SA continue to move closer to fruition, with the ACCC seeking ‘market consultation’ over the proposal.

National Australia Bank has announced unaudited cash earnings for the June quarter of approximately $1.1 billion, consistent with previous quarters for NAB.

Bendigo and Adelaide Bank has announced a 190 percent improvement in net profit for the 12 months ending 30th of June 2010, with after tax profit of 242.6 million.

The Reserve Bank of Australia has held interest rates at unchanged at 4.5 percent for the third month running, with the RBA signaling its plans to hold rates unchanged until 2011.

Clive Peeters senior accountant Sonya Causer plead guilty to 24 counts of theft in the Victorian Supreme court yesterday amounting to some $20 million stolen from Clive Peeters accounts.