In just four months, Nuno Matos has dismantled the decade-long legacy of ANZ’s former boss Shayne Elliott by slashing jobs and shaking up senior management. Read our deep dive into the new regime here. Meanwhile, Chief Risk Officer Kevin Corbally stepped down from his role on Thursday.
Billionaire Mike Cannon-Brookes’ SunCablerenewable energy project, which seeks to link Australia and Asia, will focus on supplying local data centers for now. An ambitious proposed power cable to Singapore is seen as a longer-term option.
Mike Cannon-Brookes, co-founder of Atlassian Corp. Photographer: Lisa Maree Williams/Bloomberg
Australian Retirement Trust, the nation’s second-largest pension fund, has invested almost A$1 billion in a climate fund run by Macquarie Group. It plans to spend double that on assets that generate social and environmental benefits by 2030.
Reserve Bankof New Zealand chief Christian Hawkesby yesterday reiterated that the bank’s central forecast sees the Official Cash Rate falling another half-percentage point by year’s end. The RBNZ last month resumed rate cuts after pausing in July.
What happened overnight
Here’s what my colleague, market strategist Mike “Willo” Wilson says happened while we were sleeping…
US stocks and Treasuries rose after a tame inflation report reinforced expectations for a Fed rate cut next week. Oil fell amid talk of a record surplus next year, while the Aussie and kiwi dollars rose over major peers including the dollar. Today, we have an RBA official speaking, while ASX futures point to a strong start for local stocks.
Gold has eclipsed its inflation-adjusted peak set more than 45 years ago, as growing anxiety about the US’s economic trajectory takes bullion’s blistering three-year bull run deeper into uncharted territory.
Federal investigators have recovered what they believe is the rifle used to kill conservative activist Charlie Kirk during a campus event in Utah and released photos of a person of interest in the slaying.
Billionaire Gautam Adani’s efforts to get US fraud charges against him resolved have stalled, according to people familiar with the matter,prolonging the regulatory overhang that has hobbled the Adani Group’s global expansion plans.
What to watch
• RBA Assistant Governor for Financial System Brad Jones speech at 1.40 p.m. Sydney time
One more thing…
Ghislaine Maxwell has tried to distance herself from Jeffrey Epstein for years. But in this startling Bloomberg investigation, hundreds of previously unreported emails from Epstein’s personal Yahoo account shed new light on Maxwell’s partnership with Epstein, and contribute to longstanding questions about her credibility.
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