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Peter King tells the AFR Banking Summit that SVB’s collapse reveals the need to respond to the rapid speed in which money can be transferred; Australia is ‘unlikely’ to have any banks fall due to the country’s stringent regulations, Anna Bligh says. Follow updates here.
Challenger bank Alex Bank’s kicked off its search for $20 million in fresh funding, so it can beef up its regulatory capital and accelerate lending growth.
It’s once bitten, twice shy for the M&A arbitrage funds at Origin Energy, who are back stressing about whether Brookfield and EIG will stand up their $18.2 billion offer.
The redundancy process is underway across both the iron ore and clean energy divisions, and is affecting senior staff as much as juniors.
The sale of the US plant clears the road for the company to demerge.