Business
Banking & finance
Billionaire Lowy family buys into fund manager Magellan
The Lowy family has taken a significant stake in the funds management business Magellan, days after the financial group announced a major merger.
- by Clancy Yeates
Latest
I can smell another financial crash coming, says former Goldman Sachs chief
Lloyd Blankfein, who led Goldman Sachs through the 2008 financial crisis, says the world is “due for a kind of reckoning”.
- by Todd Gillespie and Sridhar Natarajan
Opinion
Mergers & acquisitions
Remember the fallen financial rock star Hamish Douglass? He has a final act
Douglass made one big perspicacious investment during his time on top: to seed startup investment bank, Barrenjoey.
- by Elizabeth Knight
Opinion
AI
Many of us pay our bank a ‘lazy tax.’ AI could change this
AI isn’t only a cost-cutting tool for companies to ruthlessly exploit. It could also change the way millions of people behave with their money.
- by Clancy Yeates
Former ANZ chief Shayne Elliott drops legal action against bank
Elliott was denied $13.5 million in bonuses following a string of regulatory woes at the big four giant.
- by Clancy Yeates
CFMEU official resigns from super giant, internal review launched as union scandal grows
The CFMEU’s representative on the CBUS board, Lucy Weber, stepped down after this masthead revealed she had a secret relationship with her union boss.
- by Sarah Danckert and Clancy Yeates
‘World-class conman’: Victoria’s Secret billionaire said he was duped by Jeffrey Epstein
Les Wexner is the man who made Victoria’s Secret and Abercrombie & Fitch into household names. He was also friends with Jeffrey Epstein for many years.
- by Julie Carr Smyth
Opinion
Regulation
GFC 2.0? Trump is taking a big risk with America’s banks
The Donald Trump administration is close to finalising a new set of rules for its banks as it looks to turbocharge US economic growth. The consequences could be damaging.
- by Stephen Bartholomeusz
‘Maniacal devotion’: Jeffrey Epstein was a fixer for Wall Street billionaire’s deepest secrets
In Jeffrey Epstein’s world, few billionaires loomed as large as Leon Black.
- by Max Abelson and Laura Benitez
Opinion
Credit rating
How did Westpac let a $44 mortgage snafu become a PR disaster?
The customer made a small, understandable error, but the bank’s response was a tour de force of calamitous box-ticking and bureaucratic decision-making.
- by Elizabeth Knight
Gifts and soup from ‘Uncle Jeffrey’: The Epstein ties that ended the run of Goldman Sachs’ top lawyer
Kathy Ruemmler has had a storied legal career, including a role in Barack Obama’s administration.
- by Ken Sweet