BUSINESS

Australian retail unexpectedly drops, dollar follows

Australian retail sales slumped 0.5 per cent to a seasonally adjusted $20.46 billion in March from $20.55bn in February and rose from $20bn a year earlier, according to official national figures released today. Economists expected a 0.5 per cent rise in sales for March.

Economy Watch: Oz Retail Sales Shock

By Greg PeelIn February, Australian retail sales rose 0.8% (revised up from 0.5%) which surprised economists at the time but then replacement purchases in the wake of the Queensland floods were the clear driver.
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Riskdata launches Portfolio Designer, a breakthrough portfolio construction system, delivering proven boost to long-term returns

Riskdata, the leading provider of risk management solutions to the alternative investment marketplace, announces that it has launched its Portfolio Designer offering. This revolutionary portfolio construction solution is the first one enabling the delivery of robust extreme risk diversification, based on limits for market, liquidity and operational risk, and integrating the portfolio manager's views on markets and assets.

Ardon Capital launches Asia Fund in tandem with Pulse

Pulse Capital Partners, LLC , which identifies and partners with next generation hedge fund managers to institutionalize and accelerate their growth, announced a partnership with Hong Kong-based asset manager Ardon Capital Management Ltd. to launch an Asia-focused event-driven fund. The new fund will be called the Pulse-Ardon Asia Fund and is anticipated to launch in July 2011.

US Employment Expands Slower Than Expected

Automatic Data Processing today reported that private sector jobs increased by 179,000 in April. That was well off the 200,000 new jobs that a consensus of economists' had earlier forecast and, worse, a significant decline of 22,000 jobs from March's 201,000 newly created positions.

Luminous Capital selects UMB Fund Services

UMB Fund Services, Inc. (UMBFS) announces that its alternative investments division, JD Clark & Company (JD Clark), has been selected to provide alternative investment administration services for Luminous Capital.

Australia grants Chi-X license

The Australian government on Wednesday granted Chi-X the license to operate an alternative securities exchange in Australia, effectively ending the 20-year monopoly of the ASX Group Ltd. Chi-X is owned by Nomura.

Man Group launches $1.5bn Japan fund

The world's largest listed hedge fund Man Group plc announces the successful launch of an AHL open-ended fund in Japan, Nomura Global Trend, which has raised US$1.5 billion. The fund began trading at the end of April 2011.

Advanced Capital invests into Pan Asian distressed asset specialist

Advanced Capital, the leading European alternative investment specialist, headed up by innovative financier Robert Tomei, and award winning European hedge fund incubator, IMQubator, has announced a €50million joint seed investment into the new mCapital European & Asian Special Situations Fund.

Galena Asset Management Ltd restructures energy fund

Galena Asset Management Ltd („Galena‟) has restructured the Galena Energy Fund as of January 2011. The Geneva-based Energy Fund was seeded by Trafigura group, the parent company, in April 2009 with 50M$. The group committed another 50M$ early in January 2010.

Global Markets Overview 05/04/2011

U.S. blue-chip stocks finished virtually unchanged as investors dumped energy and materials stocks and headed for the safety of bonds and telecommunications companies. The Dow Jones Industrial Average finished just 0.15 point higher at 12807.51, while the Standard & Poor's 500-stock index shed 4.60 points, or 0.34%, to 1356.62.

GCS Ready To Service Strong Growth

- The recent acquisition expands Global Construction's labour force- Earnings guidance revised higher by company management- DJ Carmichael rates stock a Buy, lifts forecasts and price targetBy Chris ShawBased in Western Australia, Global Construction Services ((GCS)) operates in the residential, com...

India Slams On The Brakes

By Greg PeelThey don't call it Chinese water torture for nothing, as the painstakingly slow pace of Chinese monetary policy tightening and currency revaluation over the past decade has left many a global observer screaming with frustration.

Westpac delivers $3.96 billion statutory net profit

The Westpac Group (ASX: WBC) today announced a solid result for the half year to 31 March 2011, with cash earnings per share of 105.6 cents increasing 6 per cent compared to the six months to 31 March 2010.

No Joy For Energy Resources Of Australia

- ERA proposes increased capex to deal with water issues- Valuations and earnings estimates adjusted lower- Broker opinions and targets remain dividedBy Chris ShawWith production being impacted by abnormally heavy rain in recent years, uranium producer Energy Resources of Australia ((ERA)) is lookin...

Daily Forex Forecast 5/4/2011

Australia''s currency declined very slightly yesterday for the first time in five days as there was a general move back into the US based currency.

World Market Overview 5/4/2011

The Australian share market closed in negative territory on broad-based losses as the impact of the strong local currency on forthcoming corporate earnings results weighed on investors.

Australian Stock Market Report 5/4/2011

The Reserve Bank of India has lifted rates by more than expected, hiking policy rates by 50 basis points. The repo rate rises to 7.25pct with the reverse repo up to 6.25pct.

Steady cash rate needed for retail recovery

Keeping a firm hand on the tiller by keeping the cash rate stable is the only way retail will realise a recovery in 2011, the Australian National Retailers Association (ANRA) said today.

Daiy Forex Forecast 5/3/2011

Australia''s currency declined very slightly yesterday for the first time in five days as there was a general move back into the US based currency.

World Market Overview 5/3/2011

U.S. stocks kicked off May with slim losses, as the energy sector followed the price of oil lower and investors couldn't sustain a morning rally that followed the death of Osama bin Laden.

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