Daily Dispatches: rising earnings and sliding shares at Macquarie

Macquarie Group's shares slid after the company predicted full-year profit of more than $1bn that fell short of the amount analysts had been tipping. The investment bank today said second-half earnings could be up as much as 10 per cent over the first half as economic conditions around the world continue to trend back to normal. (Sydney Morning Herald)

Inndustry consolidation has had a fundamental impact on the Australian life insurance sector, according to new analysis published by Credit Suisse.The Credit Suisse analysis stated that as a result of industry consolidation in recent years, the top 10 largest life insurance providers in Australia currently take up more than 95 per cent of annual in-force premiums. (Money Management)

The axing of the wholesale funding guarantee for Australian banks is expected to increase competition in the retail deposits market, with interest rates on some savings accounts already greater than mortgage rates for the first time in almost two decades. (The Australian)

Companies are set to hire more workers in coming months, to meet the demands of a strengthening economy, a survey shows. Dun and Bradstreet's national business expectations survey shows employment expectations for the June quarter have jumped to 5 index points, up from a flat reading for March. (The Age)