Financial reforms behind SMSF-driven LIC boom
It seems anyone who’s anyone is launching a new listed investment company (LIC) this year. The market has welcomed offerings from veteran fund managers Geoff Wilson, Anton Tagliaferro and Manny Pohl.
JPMorgan earnings hit by trading, mortgage lending
JPMorgan Chase has reported an 8 per cent slide in second-quarter earnings, the latest sign that the bank is grappling with lacklustre revenue from trading and a slowdown in mortgage lending.
Reynolds American pays $US27.4bn for Lorillard
Reynolds American agreed Tuesday to buy its smaller rival, Lorillard, for $US27.4 billion, uniting two of the largest US tobacco producers in a bet that bigger is safer in a declining industry.
Gondwana Resources a pivot point for corporate regulator
The Takeovers Panel appears to be increasingly confident in making findings of association, as well as taking a firmer stance on undisclosed substantial holdings.
Let’s not follow UK ban on hybrids
Merit regulation hit a worrying milestone earlier this month with ban on some hybrid securities.
Asia’s rich chase yield with margin loans
For clues as to where the next market flare-up may ignite, the old adage is follow the leverage.
Bank of Montreal pays £708m for UK asset manager
In a bid to expand its wealth management offerings in Europe, the Bank of Montreal’s parent company said it would acquire F&C Asset Management of Britain for £708 million.
Fortescue beats, Coca-Cola misses on earnings
Market focuses on results out from Fortescue, Coca-Cola, ANZ and Asciano.
M&A
Pos | Name | Value ($m) | No | % share |
1 | UBS | 4,413 | 4 | 47.7 |
2 | Macquarie Group | 4,136 | 1 | 44.7 |
2 | Bank of America Merrill Lynch | 4,136 | 1 | 44.7 |
ECM
Pos | Name | Value ($m) | No | % share |
1 | Morgan Stanley | 520 | 2 | 25.3 |
2 | UBS | 417 | 4 | 20.3 |
3 | Macquarie Group | 282 | 1 | 13.7 |
DCM
Pos | Name | Value ($m) | No | % share |
1 | Westpac | 3,286 | 7 | 22.5 |
2 | TD Securities Inc | 1,587 | 17 | 10.9 |
3 | ANZ | 1,434 | 9 | 9.8 |
Syndicated Loans
Pos | Name | Value ($m) | No | % share |
1 | Sumitomo Mitsui Financial Group | 158 | 1 | 35.0 |
1 | Mizuho | 158 | 1 | 35.0 |
3 | Industrial & Commercial Bank of China - ICBC | 34 | 1 | 7.5 |
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.
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