Australia Financial News

03.08 / 23:41

Provident Enterprise ANZ show ACCC rejects $4.9b ANZ acquisition of Suncorp Bank

The competition regulator has rejected ANZ’s $4.9 billion takeover of Suncorp’s bank.

03.08 / 23:05

Lowe's Clorox DAX Qualcomm show US stocks fall Global markets update: US stocks fall marginally on surge in yields

jobless benefits increased slightly last week, while layoffs dropped to an 11-month low in July, labor department report showed. Jobs report for July is due on Friday. A separate report showed that the US services sector slowed in July.

03.08 / 19:17

UPS Action Fighting RIO show ‘Weak as ever’: Emails reveal bitter words in Rinehart family rift

Gina Rinehart’s son John Hancock told his sister Bianca she was “weak” and would “sidle up” to their mother in a bitter dispute over a family trust, in a personal email exchange aired for the first time in a separate fight over mining royalties.

03.08 / 19:17

Provident ETF Action BlackRock MSCI track exclusive BlackRock, State Street scramble to manage greenwashing risk

Global asset managers including BlackRock and State Street are scrambling to understand whether they could be hit with greenwashing lawsuits after the action brought against Vanguard because they rely on similar global indices to structure ESG investment options.

03.08 / 19:17

COST UPS Provident Waters country Pumped hydro is clean and green. It’s also hard and expensive

In 2017, when former Liberal prime minister Malcolm Turnbull announced the Snowy 2.0 pumped hydro project as an “electricity game-changer” for the power grid, many thought it would herald the start of a string of similar schemes across the country.

03.08 / 19:17

COST UPS Provident Target Southern Nielsen show Brolga and bat ruling a ‘death knell’ for Victorian wind farm

Strict conditions set around a proposed $1 billion wind farm in Victoria to protect nesting brolga and a tiny, critically endangered bat have sounded a “death knell” for wind power in the state’s south-west and make renewables targets unachievable, according to the project developer.

03.08 / 16:51

FIVE Progressive stage rock NMDC eyes production from domestic coal and gold mines: CMD

Iron ore mining Navratna NMDC will operationalise its domestic coal and gold mines, while also pursuing overseas mineral assets, including those for Lithium in Australia. Responding to a query from ET, NMDC's Chairman and Managing Director (additional charge), Amitava Mukherjee said the mining company's lithium mining plans are at an early stage and feasibility studies will take over a year. In addition to being India's largest iron ore producer, NMDC has been involved in exploration of copper, rock phosphate, limestone, magnesite, diamond, tungsten and beach sands.

03.08 / 16:01

UK companies industry FCA Link Fund Solutions sale edges closer to completion after key condition satisfied

The deal, first announced in April, is expected to be completed in October.

03.08 / 15:47

Blockchain Legal CBOE Shuts Down Deal Australian Today in Crypto: Nifty's Shuts Down, eToro's Australian Entity Sued by Markets Regulator, Tel Aviv Stock Exchange Signs 'Ground-breaking' Deal with Fireblocks, Aventus Partners with Vodafone

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________

03.08 / 12:37

Provident Cooper Platform cover social Indian 22-year-old Indian student killed in crash in Australia

Indian student who was working as an Uber Eats driver in Australia was killed after his bike collided with an SUV in Sydney, PTI reported, citing a local media report. The deceased, identified as Akshay Deepak Doultani, a Mumbai native who was pursuing a master's degree in Australia, died in a crash last week in New South Wales while working as a food delivery driver, the Australia Broadcasting Cooperation reported on Wednesday. Doultani received a scholarship for a master's degree in finance at Macquarie University and came to Australia in February.

03.08 / 08:59

UPS Provident CEO Strategy voice Executive AGL executive joins Minters

MinterEllison has hired former AGL executive and McKinsey partner Joao Segorbe as a partner in its ESG consulting practice.

03.08 / 08:59

Landmark Fighting show country voice Australia tops world in climate litigation

Australia is the most prolific country in the world per capita for climate change litigation, according to a United Nations report that has lauded the activist role of youth and Indigenous groups.

03.08 / 08:59

UPS Target BLOCK Parke BAY stage Want to invest like the Lowys? Now you can

Assembly Funds Management, the investment house backed by the billionaire Lowy family, has begun raising finance for a second property fund, reflecting growing appetite for non-bank real estate debt.

03.08 / 08:59

UPS Provident Strategy licence Glenn Stevens-advised hedge fund has licence suspended

A Perth-based hedge fund that counts former Reserve Bank governor Glenn Stevens on its investment committee has had its licence suspended by the corporate regulator for holding insufficient assets.

03.08 / 08:59

Manufacturing Tesla show track New car sales hit July record, electric vehicles jump

New vehicle sales in Australia hit a monthly record in July as the supply of new cars accelerated after pandemic backlogs and buyers of electric vehicles injected fresh impetus.

03.08 / 08:59

Citi Career LinkedIn Morningstar show PAC PAC Capital owner lasted three months at JP Morgan Manila

Sydney fund manager Clayton Larcombe worked for US investment bank JP Morgan for three months, in the Philippines, not the two years claimed on his now-defunct LinkedIn profile.

03.08 / 08:59

UPS Reuters Williams Extreme PEP Time fall Law partner pay to fall for first time in seven years

Australian law firms are following the global trend of flat profits in the legal industry, with partner pay expected to fall for the first time in seven years due to an explosion in expenses.

03.08 / 08:59

COST Target Strategy UBS Meet the duo ushering in a new era for UBS asset management

UBS’ mega-merger with Credit Suisse enables the enlarged Swiss bank’s asset management division to work more closely with its former rival’s private banking client base.

03.08 / 08:59

BLOCK Aviat Airlines RIO country No political favours, says Joyce – and Chairman’s Lounge list stays secret

Alan Joyce on Thursday dismissed as “nonsense” the suggestion Qantas exchanges benefits for favours from the Albanese government, and declined to comment on who gets access to the airline’s coveted Chairman’s Lounge.

03.08 / 08:59

FIVE awards show Bis Industries refinances (again), asks for respite from repayments

Troubled times at Bis Industries, the mine-site trucking company that’s no stranger to a balance sheet burdened with debt. The Perth-headquartered group is already refinancing its debt just one year after securing a financial lifeline that required its owners, The Carlyle Group and Varde Partners, to put in an additional $130 million in capital to keep the company afloat.

03.08 / 08:59

COST Target Dash show country cover Top farmer cottons on with green hydrogen, rare earths

Australia’s reigning cotton grower of the year sees a European Union crackdown on the textile industry’s carbon footprint as a money-making opportunity and is moving to build a renewable ammonia and green hydrogen plant on one of his farms with help from the NSW government.

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