Yesterday
Why this PwC and big bank agitator is running for the Senate
Law academic Andy Schmulow has had enough. Big companies are too powerful and corrupting democracy, he argues. And he wants to ask them the hard questions.
This Month
Mortgage market set for sweeping change, distortion as election looms
The pork-barrelling measures will likely spur house price growth as demand climbs, while knock-on effects will hit the lenders mortgage insurance market.
Greensill Bank alleges IAG executives knew of billion-dollar policies
The claim, filed with the Federal Court, has been brought against the insurance giant by German investors owed money by Lex Greensill’s failed financial group.
BoQ boss says he’ll stick around to see transformation through
Patrick Allaway intends to remain in charge until at least October 2026, by when he hopes to have delivered $250 million in productivity savings.
WiseTech and MinRes’ founder troubles are now succession problems
With their leaders’ power galvanised by scandals, the two companies are trying to get on with life. But what does the future really look like?
BoQ is the biggest experiment in Australian banking
Turning a regional lender into a sustainable competitor to the big four is a mammoth task. Bank of Queensland’s turnaround might be about to get mugged by reality.
Westpac and CBA face green ire over $500m loan to salmon farmers
High-profile environmentalists Richard Flanagan and Geoff Cousins say the major lenders are being misleading by describing the financing as “sustainable”.
AMP rates its own reputation among the worst
From Qantas to Rio Tinto to ANZ to Optus, AMP’s board must have a dire view of the company AMP keeps in terms of public standing.
Big investors wield private assets to cushion returns from wild market
The nation’s largest money managers, including the big superannuation funds, are using unlisted holdings to manage the fallout of volatile global equities.
WAM Income Maximiser raise misses the mark in challenging market
Street Talk understands Wilson Asset Management brought in roughly $150 million for its new ASX-listed vehicle, a far cry from the $510 million target sought in the prospectus.
Star accounts reveal Bally’s is trying to catch a falling knife
The gaming group isn’t out of the woods. If its shares are worth much, you have to squint really hard to see it.
BlackRock makes inroads into self storage, buys $400m-plus local biz
Street Talk understands BlackRock is poised to acquire StoreLocal, a privately owned player that’s built a $300 million-plus portfolio across Australia.
Anchorage Capital Partners meets with lenders at laundries business
Deutsche Bank helped Anchorage Capital bankroll its purchase of South Pacific Laundries in 2018.
Five V appoints Goldman Sachs to run $500m-plus Automic sale
The share registry services company is expected to fetch $500 million-plus at auction.
China’s economy – not tariffs – is the big risk to Australia
Despite the trade war, the iron ore price has barely blinked. But big global investors doubt that’s sustainable, and that means a big hit on our miners.
BoQ’s war with branch owners escalates over buyback price
Aggrieved franchisees are demanding at least double what was paid by the Brisbane-based lender for their stores, setting the scene for a showdown.
Barrenjoey prints $300m line in Sigma Healthcare
About 100 million shares in Sigma Healthcare changed hands ahead of the market open on Monday.
Portelli hits fast lane on mooted LMCT+ sale, MacCap takes the wheel
Several conversations around how a change of control could play out and the steps needed to make LMCT+ sale-ready had taken place since the end of last year.
From spreadsheets to strategy: how AI rewrites the rules of treasury
The latest advances in artificial intelligence and machine learning are helping solve the complex challenges corporate treasurers face.
Sponsored
by NAB
Five V issues RFP for share registry provider Automic
Australia’s investment banking top tier – Barrenjoey, UBS, Macquarie, Goldman Sachs and Jarden – have all pitched for a role.
Australian Retirement Trust restructures investment team, cuts jobs
The country’s second-largest superannuation fund has acquired six funds over the past year and says it will streamline operations, cutting key investing roles.
Investment bank org charts are getting remade for the age of big super
Jarden is just the latest big investment advisor to reconsider the best way to interact with retirement funds as they become bigger players in capital markets.
US trade player, Tanarra lob bids for Konvoy Kegs
Kegstar is said to be among a handful of parties being ushered through to the second round of the auction.
Star Macquarie executive is the master of corporate drivel
Macquarie’s head of asset management Ben Way shows humility gets lost on LinkedIn.
We have a winner: Brookfield grants exclusivity for $3b Aveo
Dutch investor APG, which is the Netherlands largest pension provider, and Bouwinvest, a property fund manager, are among Scape Australia’s backers.