SHARES in Sims Metal Management have dived by six per cent after the company warned of possible fraud at two of its British businesses.
Its shares were 66 cents, or 6.6 per cent, lower at $9.34 at 1025 AEDT.
ASIC through the Money Smart teaching program last year initiated the teaching of money management to primary schools. This year the ASIC course is to be trialled for years 7-10 secondary classes before full implementation in 2014. This is part of Labor’s National Financial Literacy program.
The Australian Financial Review has reported that insurer QBE is considering cutting 700 jobs.
Hills Holdings will sell its healthcare equipment division to K Care PL owned by Sydney private equity firm Anacacia Capital, as part of its ongoing restructuring to enable it to focus on electronics and communications. Last year Anacacia Fund II raised $125 million from investors, including Australian superannuation and pension funds.
The superannuation guarantee rate increases from 9% to 9.15% from July 1 and will rise yearly to 12% in 2019-2020
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