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Regal Partners says Platinum Asset Management is “a falling knife” as its funds under management drop below $10bn and Regal chief Brendan O’Connor has revealed why his company walked away from a Platinum takeover.

Meanwhile, SGH chief executive Ryan Stokes says China can handle any fallout from a tariff trade war started by the US because it has the most efficient manufacturing sector. Catch up on all of today's latest news here.

And forecast budget deficits and Prime Minister Anthony Albanese’s election spendathon will coalesce just as two other unstoppable forces hit, writes columnist Robert Gottliebsen.