K: Financial and Insurance Services

Atlassian co-founder cools down IPO hype

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Original article by Paul Smith
The Australian Financial Review – Page: 17 : 18-Jun-14

Australian software developer Atlassian was valued at $US3.3bn ($A3.5bn) in April 2014. Co-founder Mike Cannon-Brookes has downplayed ongoing speculation about a sharemarket float, saying an IPO may occur when the time is right. He adds that he and co-founder Scott Farquhar may choose not to pursue an IPO at all. Cannon-Brookes has defended the decision to relocate Atlassian’s headquarters to the UK, saying this would make it easier to seek a US listing than if it remained in Australia

CORPORATES
ATLASSIAN SOFTWARE SYSTEMS PTY LTD, T ROWE PRICE GROUP INCORPORATED, DRAGONEER INVESTMENT GROUP LLC, ASX LIMITED – ASX ASX

Fraudulent transactions on lost or stolen cards on the increase

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Original article by Shaun Drummond
The Australian Financial Review – Page: 19 : 18-Jun-14

Data from the Australian Payments Clearing Association shows that 162,896 transactions were made using lost or stolen credit cards in 2013, which is 94 per cent higher than previously. The amount of money lost through card fraud rose by 16 per cent to $A304m, including some $A219.7m worth of fraudulent transactions that were carried out online. So-called "skimming" of credit cards cost $A37.2m in 2013

CORPORATES
AUSTRALIAN PAYMENTS CLEARING ASSOCIATION LIMITED, MASTERCARD AUSTRALIA LIMITED, VICTORIA POLICE, UNIVERSITY OF CANBERRA. CENTRE FOR INTERNET SAFETY

Westfield shares rise on merger hopes

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Original article by Robert Harley
The Australian Financial Review – Page: 35 : 18-Jun-14

Westfield Retail Trust shareholders will vote on the proposed restructuring of the Westfield group of companies on 20 June 2014. Several major shareholders are expected to vote in favour of the deal, which is likely to ensure that it proceeds. However, Stephen Mayne of the Australian Shareholders’ Association forecasts that the deal will not be approved. Westfield Retail shares closed $A0.06 higher at $A3.21 on 17 June, while Westfield Group was up $A0.28 at $A10.89

CORPORATES
WESTFIELD GROUP – ASX WDC, WESTFIELD RETAIL TRUST – ASX WRT, AUSTRALIAN SHAREHOLDERS’ ASSOCIATION

Iron ore price jitters, jobs data drag on ASX

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Original article by Sally Rose
The Australian Financial Review – Page: 22 : 13-Jun-14

The Australian sharemarket lost ground on 12 June 2014, with the S&P/ASX 200 shedding 0.5 per cent to close at 5,428.8. The Commonwealth Bank was down 0.4 per cent at $A81.88, while BHP Billiton was 0.6 per cent lower at $A35.71. However, Leighton Holdings was 1.7 per cent higher at $A20.15 and Ramsay Health Care advanced 3.7 per cent to finish at $A46.80

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, BHP BILLITON LIMITED – ASX BHP, LEIGHTON HOLDINGS LIMITED – ASX LEI, RAMSAY HEALTH CARE LIMITED – ASX RHC, RIO TINTO LIMITED – ASX RIO, FORTESCUE METALS GROUP LIMITED – ASX FMG, WESTPAC BANKING CORPORATION – ASX WBC, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, WOOLWORTHS LIMITED – ASX WOW, WESFARMERS LIMITED – ASX WES, TELSTRA CORPORATION LIMITED – ASX TLS, GOODMAN GROUP – ASX GMG, ARRIUM LIMITED – ASX ARI, MOUNT GIBSON IRON LIMITED – ASX MGX, TEN NETWORK HOLDINGS LIMITED – ASX TEN, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, CREDIT SUISSE (AUSTRALIA) LIMITED, ZURICH FINANCIAL SERVICES AUSTRALIA LIMITED, JOHN HOLLAND PTY LTD, AUSTRALIAN BUREAU OF STATISTICS, WORLD BANK, STANDARD AND POOR’S ASX ALL ORDINARIES INDEX