Today
- Analysis
- Earnings season
Can the banks fight their way out of the commodity trap?
It’s hard to see how the banks can meaningfully increase profit margins unless the trend towards mortgage brokers reverses.
- Lucas Baird
Yesterday
CBA victory shows tide is turning on shareholder claims
The decision is more proof that shareholder claims are no longer a lay-down misere, lawyers say.
- Michael Pelly and Lucas Baird
- Updated
- AGM season
QBE pumps up Australian premiums, but squeeze slows
QBE revealed growth in all commercial markets at its AGM, including in Australia, where premiums increased by 11 per cent.
- Updated
- Liam Walsh
Crypto miner spruiked 16pc returns for five years without a licence
A Gold Coast cryptocurrency miner was authorised to provide financial services for less than seven months despite operating for six years.
- Max Mason
Inside Project Constantine, the plan to sell Perpetual
Soul Patts’ $3 billion offer for the asset manager set the stage for whirlwind negotiations and accelerated a sale that private equity firms had eyed for years.
- Aaron Weinman
Pantoro seeks to shore up balance sheet, hires two brokers
The term sheet talked up Pantoro’s “significant” growth potential.
- Sarah Thompson, Kanika Sood and Emma Rapaport
- Investigation
- Rich List
For this Rich Lister, does the reality live up to the hype?
Property mogul and entrepreneur Shaun Bonett has a fortune of more than $2 billion, according to the Rich List. Those valuations might not live up to the hype.
- Primrose Riordan and Nick Bonyhady
This Month
Cabal of industry super funds, led by investors, weighed ASX takeover
The ASX is an essential piece of infrastructure, and has a quasi-monopoly position, a description that would fit Sydney Airport, for instance, which went private in a $23.6 billion takeover.
- Sarah Thompson, Kanika Sood and Emma Rapaport
KPMG opens tender process for its Future Group-run super fund
The reasons behind the tender process are unknown, but it’s reasonable to assume KMPG isn’t over the moon with its current provider.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Time’s not on Perpetual’s side with KKR deal, FIRB questions abound
KKR is a US entity and the investors in its funds are from all around the world, meaning FIRB will look at the upstream investors.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Business loan demand spikes, keeping inflation fears alive
CBA, the country’s largest lender, says a strong labour market is driving “robust” demand from companies, which could push up prices, economists warn.
- James Eyers and Lucas Baird
- Opinion
- Chanticleer
What we learnt as CEOs meet capital markets kings, queens
It’s been three days of watching CEOs pitch to fund managers and hearing their off-record feedback at Macquarie’s annual conference. Both sides are more upbeat.
- Anthony Macdonald
PSC takeover delivers $350m payday for insurance broker
Analysts say Ardonagh’s offer of $2.3 billion for the Melbourne-based insurance broker represents an “attractive multiple” as chairman Paul Dwyer realises a huge windfall.
- Liam Walsh
Perpetual backer Soul Patts says board got a good price out of KKR
The investment company, which holds nearly 15 per cent of Perpetual, believes the trust and wealth businesses have been traded for more than it was ever willing to pay.
- Aaron Weinman
- Opinion
- Chanticleer
CBA shows this is not your parents’ slowdown
CBA’s chief executive started banging the drum on loss-making mortgages early last year. Now, the broader banking sector appears to be thinking along the same lines.
- Updated
- James Thomson
ASIC says JPMorgan missed dozens of suspicious commodities trades
The banking giant was fined after the corporate regulator found it failed to pick up the unusual orders which were likely intended to manipulate wheat prices.
- Aaron Weinman
- Updated
- Earnings season
CBA profit falls to $2.4b but ‘momentum’ improves
Lower margins reduced profits at the country’s largest bank over the last three months, as higher interest rates saw late loan repayments rise.
- James Eyers and Lucas Baird
Magellan has a curious connection to rolling Magnis Energy disaster
The corporate regulator launched legal proceedings against the EV hopeful last week. It wasn’t the first compliance team to take an interest – in a way.
- Sarah Thompson, Kanika Sood and Emma Rapaport
PSC strikes $2b sale to Ardonagh in insurance broker deal
PSC helps arrange cover for everything from cyber-hacks on businesses to accidents and agricultural enterprises.
- Updated
- Liam Walsh
Australian Unity, NorthWest seek to part ways; taps C&W for unit sale
Cushman & Wakefield has opened a two-stage data room and is engaging with a targeted list of investors including institutions and high-net-worths.
- Sarah Thompson, Kanika Sood and Emma Rapaport