Former top CBA execs lead new local SPAC play
SPACs are coming to the Asia Pacific in a round about way, with the latest being raised by a group including top former CBA executives.
Financial Services
Big banks enlisted in job-killing campaigns
The willingness of bankers to submit to unaccountable zealots attests to the power of what we might call the fifth estate.
15 years and $200bn later, AusSuper plots next milestone
As the nation’s biggest super fund nears its 15th birthday, its boss says he has ‘a degree of optimism’ about the market it will be trying to achieve its next big milestone in.
Tech central to global recovery: Macquarie CEO
Shemara Wikramanayake says automation will be crucial as signs of inflation emerge and competition for skilled staff heats up.
Online broker Stake gears up for ASX launch
Millennial-focused trading platform Stake is set to take on the incumbents announcing the launch of its ASX offering.
Buffett’s move brings digital banking to the fore
A $US500m bet by Warren Buffett’s Berkshire Hathaway in digital banking has sparked new investor interest in the sector both locally and around the world.
Shareholders victims of billionaires’ exemption
If all goes to plan in the next week, Ryan Stokes will gain effective control of Boral with about 30 per cent of the company.
Little super funds ‘are not going to cut it’
Equipsuper chair Andrew Fairley has fired a parting shot at some industry trustees for putting their own interests ahead of members’ interests.
Hollard to ‘reinvent’ insurance in $1bn CBA deal
Under a $1bn-plus deal, Hollard will sell Commonwealth Bank home and car insurance products for the next 15 years.
Judo hits $1.9bn in rapid raising
Judo has ruled off a rapid-fire fifth capital raising, valuing the bank at more than $1.9bn, as it weighs an IPO and expects to post fiscal year profits.
Bids readied for Westpac’s life unit
Final offers for Westpac’s life insurance division are due in 10 days, as the bank steps up the business end of its asset sale program.
UK Covid payouts grow, Australian cases stall
Insurance payouts to UK businesses hit by the pandemic continue to rise after a test case, but any local resolution is mired in court action.
Judo’s new $80m investor play before possible IPO
Financial unicorn Judo Bank has tapped SA investors to close a fresh $80m funding round for the business that has gone ‘from a powerpoint to profitability’ in four years.
Qantas a key link in carbon club
Aviation ranks as one of the hardest sectors to transition to a net-zero-emissions world.
M&A on track for a record year
Bidding wars and cheap funding have deal making activity running at a frenetic pace, and bankers and lawyers are confident 2021 will set a record.
CBA makes play for Pacific cash market
The Commonwealth Bank has cut transaction fees charged to bank customers sending money to five countries in the South Pacific.
Macquarie joins $14bn Italian toll road buy
Macquarie Group’s asset management arm is part of a consortium snapping up a majority stake in one of Europe’s largest toll road operators.
Jail for a hedge manager who ‘lost his moorings’
Dan Kamensky broke bankruptcy laws with a series of frantic messages over a few hours in a long-running fight over Neiman Marcus.
Huawei ban bites Chinese telco’s local earnings
Huawei’s earnings are crumbling across its Western operations from Australia to Britain, as government’s blacklist it from 5G networks.
Melbourne auctions recover, Sydney resilient
The number of homes sold at auctions nationally held above the 75 per cent mark although activity was subdued in several states.
Original URL: https://www.theaustralian.com.au/business/financial-services/page/200