Yesterday
The hedge fund traders dominating a huge bet on bonds
A trio of top players in the “basis trade” are the driving force behind a gigantic wager on government debt that has regulators worried.
- Nishant Kumar, Donal Griffin and William Shaw
This Month
Veteran banker Jon Gidney joins Wilsons
Wilsons is pushing to go beyond its small and mid-cap ECM roots and private wealth connections into M&A and debt advisory.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Morgan Stanley wealth employees jump to Canaccord’s new Brissy digs
Sources say the fab five, led by Barron’s top 100 financial adviser Will Kenny, lobbed in their resignations on Friday afternoon.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Game on: would-be merger partners Santos, Woodside prep data rooms
With data rooms only now open, due diligence is yet to begin in earnest.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Santos, Woodside bosses met in recent weeks, deal ‘5pc’ advanced
The nascent talks have included at least one in-person meeting between Woodside CEO, Meg O’Neill, and her counterpart at Santos,
- Sarah Thompson, Kanika Sood and Emma Rapaport
November
Citi rings in changes as global restructuring hits Australian shores
Local investment and corporate banking bosses will report to new heads, while staff expect more lay-offs to come in the next quarter.
- Aaron Weinman
Citigroup cuts over 300 senior manager roles in latest restructuring
The workforce reductions may continue around the globe into next year as CEO Jane Fraser seeks to simplify the Wall Street firm.
- Jenny Surane
Citi bankers brace for job cuts as ‘Project Bora Bora’ advances
The US bank could cull back-office roles and eventually some banking positions as it embarks on a restructuring that reduces management layers and its overall workforce by at least 10 per cent.
- Aaron Weinman
- Opinion
- Foreign relations
APEC shows why business diplomacy matters in fragmented world
The private sector will need to play an oversized role to enable the growth of the region and propel it at scale and speed.
- Georgie Skipper
Citi set to initiate massive layoffs next week: report
Citigroup is expected to announce the first round of layoffs as part of a restructuring on Monday, The Financial Times reports.
- Timothy Moore
The fee bonanza behind Brookfield’s $18.7b Origin deal
The mammoth deal is rewriting the rules of M&A in Australia. Just off-stage are a cast hoping to wet their beaks on the result.
- Myriam Robin and Mark Di Stefano
October
Whitehaven’s coking coal buy to send earnings up 93pc, Citi says
The investment bank’s brokers increased their price target on the miner’s shares despite the $5b deal being opposed by the company’s largest shareholder.
- Aaron Weinman
Citi sacks banker for ‘antisemitic’ social media post
Authorities have reported seeing an increase in threats targeting Jewish and Muslim institutions in the aftermath of the October 7 attack on Israel by Hamas.
- Jenny Surane
- Opinion
- Chanticleer
‘It’s bad’: The 9.23pm moment ANZ’s $2.5b deal crumbled
Hedge funds screaming down the phone, 2.26am emails to the client, billions of dollars at risk and a late night “Oh, f---” moment. Justice Mark Moshinsky reveals what it was like inside ANZ’s deal room.
- Updated
- Anthony Macdonald
Citibank analyst sacked for claiming ‘coffee and sandwiches’
Szabolcs Fekete, who blamed “very small” coffees, denied that the meal had been eaten with his partner.
- Jane Croft
- Opinion
- Chanticleer
Deflated REITs draw fundie crowd behind closed doors
At investment conferences, it is more about who’s meeting behind closed doors than what is said on stage. This week we learned where investors are sniffing around.
- Anthony Macdonald
China data show slower-than-expected boost from Golden Week
The comparatively soft figures add to recent evidence that while some sectors are on the mend, the broader economy is still far from roaring back.
- Daniela Wei
Ramsay Health Care pops up in $500 million-plus Cura auction
ASX-listed Ramsay submitted a non-binding indicative bid to sell-side adviser Citi.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Treasury rout shows Fed rate rises probably over
The market odds of another increase by the end of the year has dropped to 30 per cent as bond yields surge.
- Colby Smith and Kate Duguid
September
Orora’s $1.35b raise gets insto support despite big discount
Can and bottle maker Orora’s $1.35 billion equity raising to buy France’s Saverglass had been expected since August 27.
- Sarah Thompson, Kanika Sood and Emma Rapaport
