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The Australian
 

Good afternoon,

Australia’s corporate watchdog is eyeing the superannuation industry and suspects massive delays to awarding payouts is broader than its case against the CFMEU-linked Cbus.

WiseTech Global says it will “vigorously defend” an investor class action that claims the company engaged in “misleading and deceptive” conduct as it faces a fresh scandal following the resignation of its billionaire founder Richard White.

Matt Comyn’s Commonwealth Bank quietly hit a new and remarkable milestone overnight. It overtook globally connected HSBC in terms of market value, putting the Australian bank on the doorstep of the top 10 banks in the world, writes Eric Johnston.

Perry Williams
Business editor
The markets


Commentary
Why Cbus is simply the canary in the coalmine
By JAMES KIRBY
Wealth Editor
Too big to fail, the battered industry fund Cbus has turned the spotlight on the wider failings of big super.
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