Yesterday
ANZ’s toxic trading-floor roulette spins out of control
The bank is engulfed in one of its biggest scandals after a sudden market move swung tens of millions of dollars out of its client’s favour. The client was the government.
- Jonathan Shapiro
Has the CBA share price peaked?
After the Commonwealth Bank’s latest record, analysts and fund managers are wondering whether the hyper-rally in bank stocks can be sustained.
- James Eyers
Judge slaps $1m fine on ‘dishonest’ Dominique Grubisa
The self-styled wealth and property guru has also been banned from running companies for five years, and her DG Institute has copped a fine of $5 million.
- Max Mason
QIC coy on Thames Water stake as utility drowns in debt
The state-backed asset manager has not marked down its valuation of the embattled London investment, despite its largest shareholder writing it off entirely.
- Updated
- Aaron Weinman
Prudential watchdog halves $1b Westpac penalty
APRA will slash its $1 billion capital penalty levied on the bank four years after it was first implemented.
- Lucas Baird
This Month
Ethical Partners to close, sells massive big blocks in ACL, NobleOak
Ethical Partners was the seller behind 10 per cent of ACL and just under 15 per cent of NobleOak traded by E&P Financial and Barrenjoey respectively on Thursday.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Duncan Saville’s Somers eyes investment in Magellan-backed FinClear
It comes as FinClear, on Thursday, quietly opened a share sale to match buyers and sellers on its register, including employees and external investors.
- Sarah Thompson, Kanika Sood and Emma Rapaport
New Quantum’s US backer prepares to call in receivers; sale tipped
The US-based VC investor is New Quantum’s primary financier and is in discussions with McGrathNicol, sources said.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Will Vicars and Caledonia are still deep in the red
Financial year results from the fund manager show a 6.3 per cent gain in the month to June 30. Elsewhere, it’s a sea of woe.
- Myriam Robin
NAB backs Federation Asset Management’s Homesafe acquisition
The agreement is a drop in the ocean for a big four bank with a $702 billion loan and advancement book.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Done deal: London buyout firm Livingbridge acquires Colinton’s Dimeo
Under the deal, Colinton will retain a stake, while Livingbridge will join the register alongside founders Charles Bates and Peter Easter.
- Sarah Thompson, Kanika Sood and Emma Rapaport
- Sponsored
- Nuveen
Not all private credit is created equal
Are private credit valuations supportable, or will they crash and contaminate the financial system?
Sponsored
by Nuveen
The end is finally in sight for PEP’s worst-ever investment
The local private equity giant has been a money-spinner for investors, except in this instance. In an update, it says it may finally exit Equiniti next year.
- Sarah Thompson, Kanika Sood and Emma Rapaport
The ties that bind John Setka to Cbus and the ALP
With the CFMEU now in a spotlight so bright even the indestructible John Setka couldn’t ride it out, ties like these drag everyone else into the glare.
- Myriam Robin
EQT-backed Five Good Friends hits auction block; stake up for grabs
A handful of Five Good Friends’ minority shareholders, including QIC and stockbroker Morgans, have hired Record Point to shop a 45 per cent stake.
- Sarah Thompson, Kanika Sood and Emma Rapaport
- Updated
- Big four
ANZ board ‘acutely focused’ on trading scandal
In a note to staff, the bank’s executives said directors and senior management met on Tuesday to review probes into workplace conduct and market manipulation.
- Updated
- Jonathan Shapiro and Lucas Baird
Bankers seeking their next big pay day are chasing these clients
Investment banks are now after riskier, smaller companies so they can pounce on the spoils of a trophy listing or a huge sale to private equity.
- Aaron Weinman
Next Capital anoints new partner; sells fancy breadmaker Noisette
Dicembre was integral to the firm’s investment in NZ Bus, and its subsequent exit to Australia’s largest bus network, Kinetic, in 2022.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Resurgent Zip raises cash and pays big break fee to eliminate its debt
Zip has indicated it will push the accelerator on growth in the United States despite regulators investigating whether it has violated consumer protection laws.
- James Eyers
- Opinion
- Chanticleer
Brokers sense interest as Australia’s favourite meme stock returns
The list of names dumped from the ASX 200 alongside Zip shows how rare a comeback is. But while its business is firing, not everything has changed.
- Anthony Macdonald
