Today
Symal’s owner trio in line for $75m payday from speedy $500m float
The founders will retain a combined 70 per cent of the business after the IPO and have agreed to a two-year-long escrow period.
- Sarah Thompson, Kanika Sood and Emma Rapaport
What, me worry? Labor’s debit card surcharge ban and the $500m IPO
Second-time-lucky ASX aspirant Cuscal has found itself in the midst of sector-wide upheaval as the Albanese government hones in on debit card surcharges.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Yesterday
Bidder field narrows for CBA’s UHNW sale
Sources said those still in the running include Morgan Stanley Wealth Management, which last year pivoted towards the richest of the rich clients.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Meet Red Rooster, Chargrill Charlie’s (soon-to-be) new owner
PAG boss Lincoln Pan has turned most would-be suitors away, and his timing could not have been more perfect.
- Updated
- Sarah Thompson, Kanika Sood and Emma Rapaport
Perpetual investors deliver massive rebuke, 88pc vote against pay plan
The investment management giant has been hit with big outflows, but had proposed paying huge bonuses to retain key staff.
- Jonathan Shapiro
- Exclusive
- Regulation
BoQ under investigation for charging fees to dead customers
The regional lender is being investigated by the industry’s oversight body in a throwback to the findings of the financial services royal commission in 2018.
- Lucas Baird
JPMorgan enters Australian payments as competition heats up
The world’s largest bank said it would start offering “merchant acquiring” services in Australia, in the latest threat to major banks’ payments margins.
- James Eyers
- Opinion
- Chanticleer
Revealed: How much Australia’s private credit sector is really worth
The industry’s risks to Australian financial stability are low, the RBA says. But plenty of information gaps remain, and regulators are playing catch up.
- James Thomson
Titanium play IperionX taps Petra, Bells for $100m placement
IperionX, whose share price has run up 157.5 per cent over the past 12 months, was admitted to the ASX 300 ranks at S&P’s September rebalance.
- Sarah Thompson, Kanika Sood and Emma Rapaport
- Exclusive
- Payments
Payment giants threaten to halt refunds for fraud
The two payment network giants have threatened to stop providing refunds to defrauded customers if forced to limit how much they charge for their services.
- James Eyers
- Opinion
- Chanticleer
A private equity pain gauge hasn’t been this high since GFC
The great private equity squeeze is resulting in assets being sold on so-called secondary markets for hefty discounts.
- James Thomson
This Month
Odyssey launches $277m block trade in AUB Group; Barrenjoey on ticket
The PE firm used Rothschild to help pick between investment banks on Wednesday evening.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Perpetual dissident fails at AGM hurdle
There’s always one every year: an AGM that’s less about its resolutions than it is about the salvaging of grievances.
- Myriam Robin
- Updated
- Franchising
BoQ accused of short-changing franchisees in buyout
BoQ undervalued franchisee shopfronts in a corporate takeover push and artificially deflated commission payments, a letter to the board alleges.
- Updated
- Lucas Baird
IPO hopeful Symal worth $518m, 42.1pc cheaper than rivals: Jarden
Street Talk is also tipping that fund managers will take a deep dive into Symal’s chunky pipeline and reliance on government work.
- Sarah Thompson, Kanika Sood and Emma Rapaport
- Opinion
- Chanticleer
AustralianSuper’s new $2.2b bet pours fuel on data centres blaze
Shut the gate, the super giant has completed a rare trifecta in Australian deals. And it is in powered property shells, of all things.
- Anthony Macdonald
Ex-Macquarie, CBA wealth boss joins Jun Bei Liu’s shop
Todd’s contact book is chock-full of private wealth types and should give Liu additional firepower to further grow her $1.7 billion Alpha Plus fund.
- Sarah Thompson, Kanika Sood and Emma Rapaport
- Opinion
- Chanticleer
The mortgage wars are back. This bank is a casualty
Competitive intensity in the home loan market is stepping up again. The beleaguered Bank of Queensland is deliberately staying on the sidelines.
- Updated
- James Thomson
What about me? UBS, Credit Suisse tech integration misfires with advisers
Street Talk understands wealth advisers are fired up about a global edict that will keep them wedded to the Credit Suisse platform.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Goldman profit jumps, stock trading set for record year
The Wall Street firm’s profit soared 45 per cent in the third quarter on a surprise increase in equity-trading revenue and a resurgent investment banking business.
- Sridhar Natarajan
