![Financial reforms behind SMSF-driven LIC boom](/web/20150228210644im_/http://www.afr.com/rw/2009-2014/AFR/2014/09/21/Photos/cd0d3956-4178-11e4-aaa0-2a963c8e9cca_syd-64bv6tamqzkrw85s234--646x363.jpg)
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](/web/20150228210644im_/http://www.afr.com/rf/image/2009-2014/AFR/2014/07/15/Photos/8c323d9c-0c75-11e4-b7f0-fd362dbe59a6_JPMorganblacksignboot--236x160.jpg)
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 $US27.4 billion, uniting two of the largest US tobacco producers in a bet that bigger is safer in a declining industry.
![Gondwana Resources a pivot point for corporate regulator](/web/20150228210644im_/http://www.afr.com/rf/image/2009-2014/AFR/2014/09/14/Photos/1f4d2846-3bfe-11e4-8ec2-7ab37cfa9ad2_syd-63tb3j73h28ra9np1fv--236x160.jpg)
Gondwana Resources a pivot point for corporate regulator
The Takeovers Panel appears to be increasingly confident in making findings of association, as well as taking a firmer stance on undisclosed substantial holdings.
![Let’s not follow UK ban on hybrids](/web/20150228210644im_/http://www.afr.com/rf/image/2009-2014/AFR/2014/08/25/Photos/2b70090a-2c3f-11e4-8f12-23a5f29dec04_syd-68gapv5ndmg1wvvm47m--236x160.jpg)
Let’s not follow UK ban on hybrids
Merit regulation hit a worrying milestone earlier this month with ban on some hybrid securities.
Asia’s rich chase yield with margin loans
For clues as to where the next market flare-up may ignite, the old adage is follow the leverage.
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Bank of Montreal pays £708m for UK asset manager
In a bid to expand its wealth management offerings in Europe, the Bank of Montreal’s parent company said it would acquire F&C Asset Management of Britain for £708 million.
Woolworths dives, Rio cuts jobs
Reporting season rounds up with a whammy by Woolworths, a smug Harvey Norman and Rio sheds jobs.
M&A
Pos | Name | Value ($m) | No | % share |
1 | Mizuho | 6,423 | 1 | 38.2 |
1 | Lazard | 6,423 | 1 | 38.2 |
1 | Gresham Partners Group Ltd | 6,423 | 1 | 38.2 |
ECM
Pos | Name | Value ($m) | No | % share |
1 | UBS | 776 | 6 | 28.8 |
2 | Morgan Stanley | 539 | 3 | 20.0 |
3 | Macquarie Group | 354 | 2 | 13.1 |
DCM
Pos | Name | Value ($m) | No | % share |
1 | Westpac | 4,233 | 11 | 20.5 |
2 | ANZ | 2,392 | 14 | 11.6 |
3 | Deutsche Bank | 1,907 | 16 | 9.2 |
Syndicated Loans
Pos | Name | Value ($m) | No | % share |
1 | National Australia Bank | 325 | 1 | 37.4 |
2 | Sumitomo Mitsui Financial Group | 158 | 1 | 18.2 |
2 | Mizuho | 158 | 1 | 18.2 |
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JPMorgan, Deutsche extend chatroom bans: sources
![JPMorgan, Deutsche extend chatroom bans: sources](/web/20150228210644im_/http://www.afr.com/rf/image_lowres/2009-2014/AFR/2013/12/04/Photos/91b8466e-5d0a-11e3-abb3-feb2652556ec_2013-12-04T110928Z_65141173--90x60.jpg)
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
![Lloyds Bank appoints Blackwell new chairman](/web/20150228210644im_/http://www.afr.com/rf/image_lowres/2009-2014/AFR/2013/12/19/Photos/f7b6b3f2-68ad-11e3-ab09-064154fb3297_lloydsbanklimited--180x120_6_0_3085500935--90x60.jpg)
The Lloyds Banking Group said that Norman Blackwell would become its chairman next year, succeeding Winfried Bischoff, who is scheduled to retire in April.
![](/web/20150228210644im_/http://www.afr.com/rw/Capital/Web/Library/Editorial/Logos/equity_debt_markets.png)
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
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