| Good afternoon, Kerr Nilson's Platinum Asset Management and L1 Capital are in merger talks to create a $18bn asset manager, marking a further shake-out of Australia's under pressure funds management industry. Australia’s construction industry is showing resilience as it is battered by large players going into administration and the scramble for labour as major infrastructure projects are undertaken around the country. Billionaire Sam Arnaout has expanded his pubs and hospitality empire, with a hefty pivot into retail on Sydney’s pricey North Shore. What will he do with it? | 