Let banks fail, says Jamie Dimon
JPMorgan Chase chief Jamie Dimon says the United States is almost at the point where big banks can be allowed to fail without taxpayers wearing the losses. “Too-big-to-fail has hugely diminished and my guess is that when all is said and done, it will be gone,” he said in an interview with The Australian Financial Review in Sydney.
Mid size global PE visitors here to stay
Bankers say the greater activity by mid size global private equity firms in the Australian market is likely to continue, with one of the more active ones in recent times shortly looking to list their first company on the market.
Budget a boon for infrastructure projects
The financial crisis demonstrated that the infrastructure funding model that had done so well for Australia – and allowed us to export funding technology – was broken.
Barclays cuts several hundred investment bank jobs
Barclays has this week cut several hundred jobs in its investment bank as part of its plan to shrink the business by 7000 staff over the next three years to save costs, people familiar with the matter said.
World wakes up to feel-good finance
British PM David Cameron has been giving a big push to ‘social impact investing’, which harnesses private capital for social problems. NSW Premier Mike Baird is also a fan.
Goldman Sachs names Stephen Scherr as chief strategy officer
Goldman Sachs named Stephen Scherr as its new chief strategy officer on Monday, replacing an executive who had worked at the firm for nearly 30 years and is retiring at the end of the year.
Qantas' Joyce on airfares
Qantas CEO Alan Joyce says prices aren't going to rise anytime soon, following his airline's announcement of ending its airfare war with rival Virgin Australia.
M&A
| Pos | Name | Value ($m) | No | % share |
| 1 | Goldman Sachs | 28,828 | 14 | 43.9 |
| 2 | UBS | 16,874 | 13 | 25.7 |
| 3 | Citi | 16,634 | 8 | 25.3 |
ECM
| Pos | Name | Value ($m) | No | % share |
| 1 | UBS | 2,172 | 22 | 19.8 |
| 2 | Goldman Sachs | 1,831 | 10 | 16.7 |
| 3 | Morgan Stanley | 1,708 | 11 | 15.5 |
DCM
| Pos | Name | Value ($m) | No | % share |
| 1 | Westpac | 9,840 | 35 | 16.6 |
| 2 | National Australia Bank | 8,045 | 37 | 13.6 |
| 3 | Commonwealth Bank of Australia | 7,520 | 34 | 12.7 |
Syndicated Loans
| Pos | Name | Value ($m) | No | % share |
| 1 | ANZ | 4,337 | 31 | 16.3 |
| 2 | National Australia Bank | 3,905 | 19 | 14.6 |
| 3 | Westpac | 3,569 | 29 | 13.4 |
Latest ASX takeover announcements
| WRT | 03/06/14 |
WRT - Second Supplementary Securityholder Booklet
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| BAB | 02/06/14 |
NGF: Extension of Offer Period
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| NXS | 02/06/14 | Supplementary Shareholder Query IER Clarification |
| SHD | 02/06/14 |
Termination of Proposed Bid Agreement
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| NXS | 02/06/14 |
Crux Asset Drilling Cost and Timing Update
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| SAI | 02/06/14 |
SAI announces formal process
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| DAU | 30/05/14 | ASIC Extension Granted |
| DAU | 30/05/14 |
ORD: Update on Takeover Bid for Dampier Gold Ltd
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| SGP | 30/05/14 | Update On Australand Proposal |
| DLS | 30/05/14 | Proposed Ambassador Acquisition Presentation |
Bank of Montreal pays £708m for UK asset manager
In a bid to expand its wealth management offerings in Europe, the Bank of Montreal’s parent company said it would acquire F&C Asset Management of Britain for £708 million.
JPMorgan, Deutsche extend chatroom bans: sources
JPMorgan Chase and Deutsche Bank are extending bans on the use of multi-dealer online chatrooms, sources say, as banks crack down on potentially inappropriate communications.
Lloyds Bank appoints Blackwell new chairman
The Lloyds Banking Group said that Norman Blackwell would become its chairman next year, succeeding Winfried Bischoff, who is scheduled to retire in April.
Latest ASX capital announcements
| FSF | 7:23:58 AM | Allotment / Redemption Notice |
| ACB | 03/06/14 | New Issue of Shares |
| AFR | 03/06/14 |
Completion of Non-Renounceable Rights Issue
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| TGN | 03/06/14 | Issue of Renounceable Offer Shortfall |
| DRK | 03/06/14 | Appendix 3B - Amended |
| NEU | 03/06/14 | Appendix 3B |
| NEU | 03/06/14 | Appendix 3B |
| THR | 03/06/14 | Share Placement - additional information (LR3.10.5A) |
| THR | 03/06/14 | Appendix 3B |
| AGR | 03/06/14 | Appendix 3B |
Block trades hit five-year high
Few deals are riskier for equity capital markets bankers than a block trade. But with placements thin on the ground this year, block trades were the main game for firms to dominate the all-important league tables
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.
