K64 Auxiliary Finance and Insurance Services

Harvey Norman cooking with gas as housing booms

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Original article by Madeleine Heffernan
The Australian Financial Review – Page: 23 : 9-Apr-15

Australian retail sales topped $A24bn in February 2015. Sales were 0.7 per cent higher than in January, and 0.4 per cent higher than the same period in 2014. UBS is upbeat about the outlook for homewares and furniture retailer Harvey Norman, due to its exposure to the residential property market. However, UBS has "sell" recommendations on grocery groups Woolworths and Metcash

CORPORATES
HARVEY NORMAN HOLDINGS LIMITED – ASX HVN, UBS HOLDINGS PTY LTD, WOOLWORTHS LIMITED – ASX WOW, METCASH LIMITED – ASX MTS, INDEPENDENT GROCERS OF AUSTRALIA, COLES GROUP LIMITED, WESFARMERS LIMITED – ASX WES, AUSTRALIAN BUFFALO INDUSTRY COUNCIL

Beston IPO to follow lobster, dairy stakes

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Original article by Simon Evans
The Australian Financial Review – Page: 20 : 9-Apr-15

Former WorleyParsons executive Sean Ebert has become CEO of Beston Global Food Company ahead of its proposed Australian sharemarket float in July 2015. Beston has also appointed GrainCorp chairman Don Taylor and formers Santos chairman Stephen Gerlach to its board. Meanwhile, it has acquired stakes in live lobster exporter Ferguson Australia and biodynamic dairy firm B.-d. Paris Creek

CORPORATES
BESTON GLOBAL FOOD COMPANY LIMITED, FERGUSON AUSTRALIA PTY LTD, B D FARM PARIS CREEK PTY LTD, GRAINCORP LIMITED – ASX GNC, WORLEYPARSONS LIMITED – ASX WOR, IOOF HOLDINGS LIMITED – ASX IFL, BELL POTTER SECURITIES LIMITED, WOOLWORTHS LIMITED – ASX WOW, COLES SUPERMARKETS AUSTRALIA PTY LTD, INDEPENDENT GROCERS OF AUSTRALIA, BESTON WINE INDUSTRY TRUST, CHALLENGER LIMITED – ASX CGF

Keep tax credits, raise GST

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Original article by Patrick Durkin
The Australian Financial Review – Page: 8 : 7-Apr-15

A poll conducted among more than 560 members of the "Australian Financial Review" Business Leaders Panel suggests that Australians do not want the dividend imputation system to be abolished. They also expressed their opposition to proposals to remove tax concessions for superannuation and to reintroduce estate taxes. An increase in the goods and services tax rate is supported by 60 per cent of the panel

CORPORATES

Shares to open lower as RBA considers cut

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Original article by Mark Mulligan
The Australian Financial Review – Page: 29 : 7-Apr-15

Futures traders expect the Australian sharemarket to shed 0.15 per cent when trading resumes on 7 April 2015. The benchmark S&P/ASX 200 fell by 0.4 per cent during the previous week. The Reserve Bank’s monthly board meeting will be a focus for investors, with Credit Suisse data showing that financial markets have priced in a 75 per cent chance of a rate cut. Retail sales, construction and mortgage lending data will also be released in coming days

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, RESERVE BANK OF AUSTRALIA, CREDIT SUISSE (AUSTRALIA) LIMITED, BLOOMBERG LP, UNITED STATES. FEDERAL RESERVE BOARD, BANK OF JAPAN, THE AUSTRALIAN INDUSTRY GROUP, UNITED STATES. FEDERAL OPEN MARKET COMMITTEE, SOCIETE GENERALE, OANDA AUSTRALIA PTY LTD, JP MORGAN AUSTRALIA LIMITED

MYOB owner dismisses criticism from Xero

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Original article by Shaun Drummond, Sarah Thompson
The Australian Financial Review – Page: 11 & 17 : 1-Apr-15

US-based private equity firm Bain Capital will retain a controlling stake in MYOB when the software group debuts on the Australian sharemarket on 4 May 2015. The IPO is seeking to raise about $A830m, and shares in MYOB will be priced between $A3 and $A4 apiece. Rival accounting software group Xero has questioned MYOB’s claims about the size of its customer base

CORPORATES
MYOB TECHNOLOGY PTY LTD, BAIN CAPITAL LLC, XERO LIMITED – ASX XRO, CITIGROUP PTY LTD, GOLDMAN SACHS AND PARTNERS AUSTRALIA PTY LTD, MERRILL LYNCH (AUSTRALIA) PTY LTD, UBS HOLDINGS PTY LTD, ARCHER CAPITAL PTY LTD, HARBOURVEST PARTNERS

ASX 200 first quarter was best in decades

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Original article by Vesna Poljak
The Australian Financial Review – Page: 11 & 17 : 1-Apr-15

Deutsche Bank’s Tim Baker expects Australia’s benchmark S&P/ASX200 Index to reach 6,200 points, following a strong performance in the March 2015 quarter. The health sector in particular performed well during the quarter, and Philip Parker of Altair Asset Management notes that the sector benefited from the lower Australian dollar. However, the materials sector shed six per cent during March, due to factors such as the downturn in the iron ore price

CORPORATES
DEUTSCHE BANK AG, STANDARD AND POOR’S ASX 200 INDEX, ALTAIR ASSET MANAGEMENT PTY LTD, CBG ASSET MANAGEMENT LIMITED, AUSTRALIAN BUREAU OF STATISTICS, BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, FORTESCUE METALS GROUP LIMITED – ASX FMG, RESMED INCORPORATED – ASX RMD, RESERVE BANK OF AUSTRALIA

A2 Milk shuns Asia as shares hit ASX

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Original article by Tim Binsted
The Australian Financial Review – Page: 17 : 31-Mar-15

New Zealand-based The a2 Milk Company has built a significant market share in Australia in the last eight years. The group’s shares will debut on the Australian sharemarket on 31 March 2015, although it has not raised additional capital via the listing. CEO Geoff Babidge has outlined plans for the group to expand into the US and the UK. It will also seek to lift revenue from $NZ110.6m in 2013-14 to $NZ230m by 2015-16

CORPORATES
THE A2 MILK COMPANY LIMITED – ASX A2M, FREEDOM FOODS GROUP LIMITED – ASX FNP, PRICEWATERHOUSECOOPERS, PEPSI-COLA COMPANY, PARMALAT AUSTRALIA PTY LTD

Dividend credit debate splits business, investors

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Original article by Vesna Poljak, Shaun Drummond, Joanna Mather
The Australian Financial Review – Page: 1 & 8 : 31-Mar-15

Changes to the dividend imputation system are among the reforms canvassed in the Australian Government’s tax discussion paper, which was released in late March 2015. Wilson Asset Management chairman Geoff Wilson says scrapping dividend imputation credits may result in a sharp fall in yields for investors, while Fidelity fund manager Paul Taylor warns that it would result in poor decisions on the allocation of capital. However, some observers are in favour of reviewing dividend imputation

CORPORATES
WILSON ASSET MANAGEMENT, FIDELITY INVESTMENTS AUSTRALIA LIMITED, CREDIT SUISSE (AUSTRALIA) LIMITED, CORPORATE TAX ASSOCIATION, COCHLEAR LIMITED – ASX COH, GROUP OF 100, BUSINESS COALITION FOR TAX REFORM, WOOLWORTHS LIMITED – ASX WOW, WAVESTONE CAPITAL PTY LTD, CARDNO LIMITED – ASX CDD, AMP LIMITED – ASX AMP

Foreign suitors tipped to strike again in 2015

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Original article by Joyce Moullakis
The Australian Financial Review – Page: 24 : 30-Mar-15

A report produced by law firm Gilbert + Tobin shows that offshore buyers were more active in mergers and acquisitions involving Australian-listed companies in 2014. The firm expects a similar level of takeover activity involving offshore groups in 2015, citing factors such as the lower Australian dollar. The real estate, resources and energy sectors in particular are tipped to generate strong interest among offshore investors

CORPORATES
GILBERT AND TOBIN LAWYERSTOLL HOLDINGS LIMITED – ASX TOLJAPAN POSTROC OIL COMPANY LIMITEDAURORA OIL AND GAS LIMITEDDAVID JONES LIMITEDDEALOGIC HOLDINGS PLCHJ HEINZ COMPANYKRAFT FOODS INCORPORATED

6300 in sight for Citi

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Original article by Sally Rose
The Australian Financial Review – Page: 31 : 26-Mar-15

The S&P/ASX 200 remains close to the 6,000-point level, but some equity strategists are bullish about the benchmark index’s outlook. Tony Brennan and Vivian Jiang of Citigroup forecast that it will top 6,300 points by the end of 2015, while Credit Suisse has a year-end target of 6,500 points. The market is tipped to push higher due to factors such as rising support for shares due to low interest rates in Australia and overseas

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, CITIGROUP PTY LTD, CREDIT SUISSE (AUSTRALIA) LIMITED, ZURICH INVESTMENT MANAGEMENT LIMITED, UNITED STATES. FEDERAL RESERVE BOARD, BANK OF ENGLAND, RESERVE BANK OF AUSTRALIA, WESTPAC BANKING CORPORATION – ASX WBC, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ