BUSINESS FORECASTING – AUSTRALIA

Fortescue exec tips rebound for iron ore price

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Original article by Andrew Burrell
The Australian – Page: 17-18 : 30-Jun-14

Fortescue Metals Group is confident that the price of iron ore will recover. CFO Stephen Pearce feels that the drop to $US89 a tonne on 16 June 2014 was the bottom of the trough in the present price cycle. He believes that the price will rise to about $US110 a tonne and remain at that level for a while. His view is based on strong Chinese economic data and the market adjustment to the increase in supply. Pearce warned that prices of $US150 and above were not likely to occur again

CORPORATES
FORTESCUE METALS GROUP LIMITED – ASX FMG, RIO TINTO LIMITED – ASX RIO, BHP BILLITON LIMITED – ASX BHP

Pendulum sways to ‘Yes’

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Original article by Robert Harley
The Australian Financial Review – Page: 34 : 20-Jun-14

Westfield Retail Trust investors are expected to approve a restructuring of the group at a meeting on 20 June 2014. A vote on the proposed deal was postponed earlier in the month, when 25.9 per cent of proxy votes rejected the plan to merge the trust with the Australasian property portfolio of Westfield Group. Westfield Retail securities closed $A0.04 higher at $A3.21 on 19 June

CORPORATES
WESTFIELD RETAIL TRUST – ASX WRT, WESTFIELD GROUP – ASX WDC, AUSTRALIAN SHAREHOLDERS’ ASSOCIATION, UNISUPER LIMITED, LEGG MASON ASSET MANAGEMENT AUSTRALIA LIMITED, COLONIAL FIRST STATE GROUP LIMITED, COLONIAL HOLDING COMPANY LIMITED – ASX CNG

Ten falls on weak outlook

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Original article by Vanessa Desloires, Tom Cowie
The Australian Financial Review – Page: 16 : 20-Jun-14

Australian-listed TV broadcaster Ten Network has advised that its 2013-14 revenue will be between 3.5 per cent and 4.5 per cent lower than previously. COO Paul Anderson has noted the difficult conditions in the TV advertising market and the low ratings for many of the network’s programs earlier in 2014. The group’s shares closed 6.9 per cent lower at $A0.27 on 19 June

CORPORATES
TEN NETWORK HOLDINGS LIMITED – ASX TEN

Super funds looking at 10pc-plus growth

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Original article by Clancy Yeates
The Australian Financial Review – Page: 20 : 20-Jun-14

Data from Chant West shows that the average Australian superannuation fund achieved a return of 1.1 per cent in May 2014, and 12.6 per cent in the first 11 months of the 2013-14 financial year. Director Warren Chant expects super funds to deliver a positive return for the fifth year in 2013-14, with a double-digit return likely for many funds. Shares, bonds and infrastructure are among the asset classes that have performed well in 2013-14

CORPORATES
CHANT WEST FINANCIAL SERVICES PTY LTD, SUPERRATINGS PTY LTD

Shell deal may hurt Woodside growth plans

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Original article by Paul Garvey
The Australian – Page: 20 : 6/19/2014

The stock of Australian-listed energy group Woodside Petroleum on 18 June 2014 closed $A1.95 lower at $A40.90. This compares with a price of $A41.35 for the institutional investors acquiring scrip in the partial divestment of its Woodside stake by Royal Dutch Shell. As part of the reduction from 23.1% to less than 4.5%, Shell is also selling $US2.68bn ($A2.86bn) worth of stock back to Woodside. Experts warn this may hamper the latter’s acquisitions strategy. Woodside needs to secure a major new project to fill a gap once current LNG developments mature

CORPORATES
WOODSIDE PETROLEUM LIMITED – ASX WPL, ROYAL DUTCH SHELL PLC, BHP BILLITON LIMITED – ASX BHP, DEUTSCHE BANK AG, UBS HOLDINGS PTY LTD

QBE eyes up RSA’s Asia division

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Original article by Ruth Liew
The Australian Financial Review – Page: 23 : 6/19/2014

Australian insurance analysts have downplayed speculation that QBE Insurance Group could bid for the Asian arm of UK-based RSA Insurance Group. The business is expected to fetch up to $A500m, and media reports have identified QBE as a potential buyer. However, Ross Curran of the Commonwealth Bank says QBE is likely to focus on consolidating its existing operations instead of seeking acquisitions

CORPORATES
QBE INSURANCE GROUP LIMITED – ASX QBE, RSA INSURANCE GROUP PLC, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, AXA SA, SOMPO JAPAN INSURANCE INCORPORATED, ALLIANZ AG HOLDING, HANG SENG GENERAL INSURANCE (HONG KONG) COMPANY LIMITED, THE GOLDMAN SACHS GROUP INCORPORATED, REUTERS HOLDINGS PLC, CREDIT SUISSE (AUSTRALIA) LIMITED

Goodman to recycle $1.4 billion in assets

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Original article by Robert Harley
The Australian Financial Review – Page: 34 : 13-Jun-14

Goodman Group plans to reinvest the proceeds of property sales into the development of new projects. The Australian-listed company’s property portfolio is valued at around $A26.4bn, and it intends to offload some $A1.4bn worth of property in Australia and offshore. Goodman has forecast that its 2013-14 operating earnings will be about seven per cent higher than previously

CORPORATES
GOODMAN GROUP – ASX GMG, MORGAN STANLEY AUSTRALIA LIMITED