Daily Dispatches: Goldman Sachs JBWere staff can look forward to a rich retirement

Bank executives, postal workers and university staff are among those best placed for retirement, based on the long-term return performance of their superannuation funds. In contrast, higher-cost retail superannuation funds - including some operated by the nation's biggest banks - have delivered some of the poorest investment returns over the past five years, according to a comprehensive snapshot of the nation's $1.3 trillion superannuation industry. Topping returns over the past five years was the in-house staff super fund of investment bank Goldman Sachs JBWere with annualised returns of 9.6 per cent. (The Age)

AMP chairman Peter Mason has used AMP's annual report to reinforce the company's continued interest in acquiring AXA Asia Pacific's Australia and New Zealand operations. Mason said AMP believed Australians and New Zealanders deserved a strong, non-bank competitor in the wealth management sector. (Money Management)

Australia's banks' loan losses may have peaked and profits are beginning to grow again, albeit against a backdrop of continued uncertainty in the global financial system, the Reserve Bank of Australia said today. (The Australian)

Westpac's strong home-lending growth over the past 12 months places it in a strong position to lift rates by more than the Reserve Bank, as the sector continues to feel the pinch of higher funding costs. (The Australian)