Credit Suisse to ‘ring-fence’ Swiss banking operations
Credit Suisse plans to separate its retail and private banking business in its home market from its riskier investment banking and trading operations in Britain and in the United States.
JPMorgan aims to keep pay roughly flat, sources say
JPMorgan Chase & Co plans to keep overall compensation roughly flat this year from last year, in a sign that employees will feel at least some pain from the bank’s recent legal settlements, according to two sources familiar with the matter.
NAB loses $25bn client to archrival JPMorgan
National Australia Bank’s custody division has lost one of its biggest clients after the $25 billion Cbus superannuation fund switched to archrival JPMorgan.
Why the Aussie market is best for debt
Even bankers paid to take local corporations to offshore debt markets concede the Australian market has been the best place for non-financial companies to issue debt, despite local companies slowing their debt raising in 2013.
ACMA wouldn’t object to News Corp takeover of Ten
The Australian Communication and Media Authority has shed light on its likely treatment of any attempt by Rupert Murdoch’s News Corp to take over struggling broadcaster Ten Network Holdings, chaired by Mr Murdoch’s son, Lachlan.
US to exit GM by year-end, sees $10bn loss
The US Treasury Department said it expected to sell its remaining shares of General Motors by the end of the year, a plan that may leave taxpayers with a shortfall of about $US10 billion on the auto maker's 2009 bailout.
Transurban targets Cross City Tunnel
Transurban might be the logical buyer for Sydney's Cross City Tunnel, says Chanticleer's Mike Smith, given it could join the troubled asset to its other motorways. More AFR TV
Currency intervention
RBA governor Glenn Stevens declared large-scale currency intervention to be part of the central bank’s “tool kit” to boost the economy, but warned it could come at a potential cost to government revenue.
M&A
| Pos | Name | Value ($m) | No | % share |
| 1 | Goldman Sachs | 26,558 | 29 | 29.5 |
| 2 | Macquarie Group | 23,787 | 27 | 26.4 |
| 3 | Lazard | 14,457 | 10 | 16.1 |
ECM
| Pos | Name | Value ($m) | No | % share |
| 1 | UBS | 5,634 | 30 | 32.5 |
| 2 | Macquarie Group | 2,511 | 29 | 14.5 |
| 3 | Goldman Sachs | 1,253 | 13 | 7.2 |
DCM
| Pos | Name | Value ($m) | No | % share |
| 1 | ANZ | 24,685 | 123 | 17.1 |
| 2 | Westpac | 22,640 | 86 | 15.6 |
| 3 | Commonwealth Bank of Australia | 17,057 | 71 | 11.8 |
Syndicated Loans
| Pos | Name | Value ($m) | No | % share |
| 1 | ANZ | 10,983 | 100 | 12.9 |
| 2 | National Australia Bank | 9,738 | 82 | 11.4 |
| 3 | Westpac | 9,598 | 77 | 11.3 |
Latest ASX takeover announcements
Murray Goulburn eyes $500m to fund growth
Murray Goulburn Co-operative is preparing to raise about $500 million from investors outside of its co-operative shareholder base for the first time in its 63-year history to fund its growth plans.
JPMorgan pays $US13bn but gets a good deal
JPMorgan Chase’s mortgage settlement will cost the bank a record $US13 billion, but a closer look at the mortgages involved -- $US1 trillion were sold in total -- suggests the investment bank scored a good deal for itself.
HSBC, JPMorgan top banks’ capital surcharge list
JP Morgan and HSBC topped the list of the world's top 29 banks that must hold extra capital from 2016 because of their size and reach, the Financial Stability Board said.
Latest ASX capital announcements
| WES | 22/11/13 | Appendix 3B - Employee Share Plan |
| RDR | 22/11/13 | Appendix 3B - Issue of Convertible Notes |
| PEN | 22/11/13 | Appendix 3B |
| PIR | 22/11/13 | Appendix 3B |
| CDM | 22/11/13 |
Supplementary Prospectus
|
| WAC | 22/11/13 | Appendix 3B |
| CYP | 22/11/13 | Appendix 3B |
| ORD | 22/11/13 | Appendix 3B |
| ORD | 22/11/13 | Rights Issue Notice to Optionholders |
| ORD | 22/11/13 |
Rights Issue Prospectus
|
NAB launches $750m tier 1 hybrid offering
National Australia Bank has launched a $750 million convertible preference share offering to bolster its tier 1 capital, which will pay a discretionary, quarterly, floating rate, non-cumulative dividend.
The mammoth listed fund battle
It took an hour long meeting in Bacino’s, one of Mosman’s most popular cafes, to jolt forward the largest takeover in Australia’s listed real estate space since 2007.
All toll roads lead to the same place
Inside the deal | How the deal for bankrupt Brisbane toll road, the Clem7 tunnel, unfolded, ending in Queensland Motorways $618 million purchase.
