This Month
Troubled RAMS trips to $18.6m loss
Westpac had earlier in the year failed to find a buyer for the business, which is involved in two court cases alleging fraud.
- Lucas Baird
Settlement outage puts ASX in the crosshairs – again
Regulators will review a high-profile failure in the exchange’s settlement systems that hindered millions of trades last week.
- Lucas Baird
ASX says it will trade as normal on Monday, narrowly avoiding disaster
The market operator had been hit by technical issues on Friday which meant that trades could not be settled. Staff worked through the weekend to fix the issue.
- James Eyers
- Exclusive
- Accounting
BGH targets PwC dealmakers for new M&A advisory
Under the proposal, more than a dozen top transactions partners would leave for a new firm that would be overseen by Rob Silverwood, currently PwC’s deals boss.
- Edmund Tadros, Sarah Thompson and Emma Rapaport
ASX scrambles to fix CHESS settlements outage as traders fume
At lunchtime on Friday as many stockbrokers went to end-of-year lunches, the market operator said its batch payments had failed, threatening a cash flow crunch.
- James Eyers
- Opinion
- Chanticleer
What our top CEOs read, watched and listened to in 2024
From business books to crime thrillers and podcasts, here’s what our CEOs did in their spare time this year.
- Anthony Macdonald and James Thomson
ASIC’s attempts to clarify crypto rules confuses digital exchanges
Independent Reserve, BTC Markets and Kraken say new guidance and industry calls have not provided any clarity about whether they will need to obtain licences.
- James Eyers
Quadrant banks $660m for third growth fund
The six-week fundraise was oversubscribed after ultra-high-net-worth investors added funds to the pot.
- Sarah Thompson, Kanika Sood and Emma Rapaport
- Exclusive
- Housing crisis
‘Profit vaporised by time’: Westpac boss backs council reform to fix housing
Anthony Miller has thrown his weight behind the NSW government’s ambitious push to bypass local councils and reform planning laws.
- Lucas Baird
Suburban pub grub suits Westpac’s new CEO
Living in Sydney’s inner west makes Anthony Miller an outlier among big bank chiefs. The former investment banker is determined to make his firm stand out, too.
- Lucas Baird
JPMorgan leads ECM league table for first time in decades; Goldies sweeps M&A
While flashy M&A draws the eyeballs, 2024 has been a remarkable year for equity desks.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Debit surcharge ban unfairly favours major banks, claims Square
The Block subsidiary introduced “blended” card payment fees which include using its software. They have become a flashpoint in the RBA’s payment cost review.
- James Eyers
Genesis Capital amasses $350m for more healthcare deals
Doctor turned private equiteer Michael Caristo and his co-founder Chris Yoo have finalised a fund, drawing interest from institutional investors and families.
- Sarah Thompson, Kanika Sood and Emma Rapaport
- Opinion
- Chanticleer
How CEOs are using AI, from driverless forklifts to bird counts
Everyone’s doing it, but are they doing it properly? Here is a fascinating snapshot of what Australian companies are doing with artificial intelligence.
- Anthony Macdonald and James Thomson
- Opinion
- Payments
There are more hidden costs to payments than people think
Consumers should not pay excessive surcharges, but a total ban will not lower the expense of card payments for businesses.
- Jon Davey
- Opinion
- Chanticleer
Elliott’s bonus hit shows how grumpy ANZ investors really are
Local fund managers are clearly unhappy with the board’s approach to risk management. Shayne Elliott is wearing a lot of their grief.
- James Thomson
Shayne Elliott gives up $3m in bonuses as ANZ cops first pay strike
Shareholders have handed the bank its first strike against remuneration in six years, furious about the handling of the crisis engulfing its trading floors.
- Lucas Baird
Lendlease’s long-time bankers nervously face new era
Gresham and Morgan Stanley have been hanging around the real estate giant for years. But a new chairman might have other ideas as he settles in.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Tribeca expands distribution headcount with Australian Ethical hire
The firm, home to well-known fund managers including Ben Cleary and John Stover, has doubled its distribution headcount with new hires in Sydney and Singapore.
- Sarah Thompson, Kanika Sood and Emma Rapaport
This 21-year-old has just banked $10m for his R&D funding venture
Charlie Selth brought the idea to his boss, executive chairman Jonathan Dooley, 18 months ago to create a lending model for early-stage companies.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Insignia rejects Bain’s billions as lacking ‘fair value’
Major shareholder Tanarra Capital described the private equity firm’s offer as “highly opportunistic” as Insignia shares tumbled.
- Michelle Bowes
- Opinion
- Chanticleer
Xero CEO’s pay rise shows how to earn corporate Australia’s big bucks
There is one way to earn the big money, and it isn’t linked to market cap, importance to Australia’s economy or even shareholder returns.
- Anthony Macdonald
Binance sued over dodgy test that cost investors $13.1m
Binance Australia staff were allegedly incompetent and misclassified hundreds of mum and dad investors as “sophisticated”, exposing them to risky investments.
- Lucas Baird
- Opinion
- Chanticleer
Santa quashes Bain Capital’s big Aussie buyout, for now
Behind the flurry of statements, there’s a game of M&A chess. Insignia Financial is this year’s Christmas special.
- Anthony Macdonald
PE firm Adamantem Capital swoops on IPO-candidate Mason Stevens
Street Talk understands an agreement was signed between the two parties on Wednesday morning, handing over the keys to 100 per cent of the company.
- Sarah Thompson, Kanika Sood and Emma Rapaport