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Fintechs have been enablers in asset management for individuals and organisations alike.

Half a trillion dollars wiped from once high-flying fintechs

Digital companies that boomed during lockdowns have been hit by fears they cannot withstand a US recession.

  • 49 mins ago
  • Nicholas Megaw and Imani Moise
Lazard Assest Management portfolio manager Aaron Binsted

Why this top Australian equity manager isn’t betting on banks

Australia’s big four banks bounced in March and April as investors bet that higher interest rates would support margins. Lazard took this as a selling opportunity.

  • 1 hr ago
  • Emma Rapaport
The S&P/ASX 200 Index advanced 1.2 per cent, or 81.5 points, to 6687.1.

Sinking Nuix sits out tech stock rally as ASX firms 1.2pc

The S&P/ASX 200 Index rose 1.2 per cent to 6687.1 on Monday. Nuix fell 13 per cent to 63.5¢, and Whitehaven Coal rose 5.2 per cent to $5.90.

  • Vesna Poljak
Futures are pointing to a positive start to the week.

ASX up 1.2pc, bank CEO criticises ANZ’s Suncorp deal

Australian shares edge higher. Whitehaven Coal shares jump after rosy earnings guidance. Nuix tumbles on earnings guidance. Follow updates here.

  • Updated
  • Timothy Moore, Richard Henderson, Vesna Poljak, Tom Richardson and Emma Rapaport
RBC Capital Markets' Karen Jorritsma.

ANZ bid for Suncorp Bank ‘a real test’ for regulator

Shareholders should not expect the ACCC to wave through the proposed $4.9 billion acquisition, says Royal Bank of Canada’s equities boss Karen Jorritsma.

  • Tom Richardson
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Equities have also been buoyed by a surge of stockmarket listings, including offerings by China Mobile and offshore driller CNOOC as Chinese-owned companies seek refuge from US markets.

China is pariah for global investors as policies backfire

Money managers once enticed by China’s juicy yields and huge tech companies now say reasons to avoid the country outweigh incentives to buy.

  • Sofia Horta e Costa
Scotiabank’s Derek Holt calls this Thursday’s ECB meeting a “seminal” moment for European policymakers.

ASX to rise as RBA, BHP and ECB top agenda

Australian shares are set to open higher after a rally overseas as US rate bets eased and data pointed to its economy’s resiliency. Iron ore fell below $US100.

  • Timothy Moore
Dive regularly competes in the national whisky tasting championship.

How deja vu helped this fundie avoid the buy now, pay later crash

As speculative pockets of the market boomed during the pandemic, Atlas’ Hugh Dive reminded himself of the lessons learnt from the dotcom crash.

  • Alex Gluyas
John Hempton says the stellar performance of his short book needs to be seen in context.

How Australia’s top short sellers came in from the cold

After those such as John Hempton, Phil King and Ben McGarry spent the pandemic boom in the wilderness, rising rates and falling markets have been a boon.

  • James Thomson
Perennial’s Ryan Sohn oversaw the best performing strategy in 2021-22.

Top fund managers warn more pain ahead for equities, iron ore

“I’m very firmly in the ‘we’re nowhere near the bottom’ camp,” said Bronte Capital’s John Hempton, whose hedge fund was one of the best performers of 2021-22.

  • Emma Rapaport

Yesterday

The tech sector soared 4.6 per cent as investors took the inflation data to mean central banks may deliver a less aggressive round of rate hikes.

ANZ targets Suncorp Bank, miners headline trading updates

Australian miners will headline a slew of corporate updates next week, as US earnings season hits top gear and investors mull ANZ’s mooted bid for Suncorp Bank.

  • Tom Richardson
Shares will either plunge 12 per cent or jump 32 per cent, say S&P 500 strategists tracked by Bloomberg.

Fear makes chaos the market’s rational base case

Shares are either poised to plunge further or soar a whopping 30 per cent, depending on who you ask. The chances are that no one is right.

  • Lu Wang and Denitsa Tsekova

This Month

Citigroup shares leapt more than 14 per cent after it posted a smaller-than-expected 27 per cent drop in quarterly profit.

Dow rallies more than 650 points on positive data, financials

Shares advanced broadly in New York on tempered rate and inflation expectations as well as better-than-expected retail sales and solid banking results.

  • Timothy Moore
Bitcoin and other cryptocurrencies have had a difficult six months.

Crypto lender Celsius reveals $1.8b hole in balance sheet

It’s the latest victim of the crash in crypto markets that has forced two other large companies into recent bankruptcy.

  • Kadhim Shubber
Neighbourhoods locked down in Shanghai on Sunday.

Chinese growth scare puts global growth on edge

The Chinese economy contracted 2.6 per cent quarter-on-quarter, reducing its annual growth to just 0.4 per cent.

  • Vesna Poljak
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ASX falls 1.1pc on week, Rio Tinto warns on demand

Australian shares closed 0.7 per cent lower on Friday and were down 1.1 per cent on the week as mining heavyweights tumbled amid a fall in iron ore and copper prices.

  • Emma Rapaport
The bar is being raised on how executives and others communicate.

Wall Street’s texting habit to cost banks $1.5b

US regulators are making clear it’s unacceptable to use services such as WhatsApp or personal email addresses for work-related communication.

  • Sridhar Natarajan, Katherine Doherty, Hannah Levitt and Matt Robinson
Online stock trading platforms are opening up the share market.

How pump and dumpers duped penny stock investors

ASIC has warned that more than 80 per cent of sharemarket traders who took part in social media pump and dump schemes “realised a financial loss or zero benefit” and collectively burnt about $6.3 million a month chasing over-hyped stocks.

  • Jonathan Shapiro
A negative lead from Wall Street.

CBA tips RBA to lift rates 0.5pc in Aug, Sept; shares close lower

Iron ore, copper prices tumble, China’s GDP growth contracts 2.6 per cent on prior quarter. Gold heads for five weeks of losses. WiseTech soars. Follow updates here.

  • Timothy Moore, Tom Richardson, Vesna Poljak, Alex Gluyas and Emma Rapaport
The spot price of iron ore is on the verge of falling below $US100 a tonne, marking a continual sharp reversal.

ASX to drop, Wall St falls, iron ore tumbles

Australian shares are set to fall at the open amid broad selling in New York on weak bank earnings and rising recession worries.

  • Timothy Moore