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The Australian
 

Good afternoon,

A court has opened the way for Westpac to recover hundreds of millions of dollars from the Forum Finance fraud run by businessmen Bill Papas and Vincenzo Tesoriero.

Meanwhile, in a blow to Qantas proxy advisory firm ISS wants shareholders to deliver the airline a second strike on its remuneration report and for them to vote against its chair and a board member being re-elected.

And Wealth editor James Kirby takes a look at the biggest-ever threat to the dominance of Australia's big four banks. In Europe, to ‘rev’ money has become as ubiquitous among the under-35s as to ‘google’ information, and global neo-bank Revolut is close to getting a bank licence here.

Perry Williams
Business editor
The markets


Commentary
Welcome step but Chalmers misses the main game
By JOHN DURIE
Columnist
Merger reform is a useful step forward but merger controls are essentially backward looking when forward-thinking national competition policy is needed.
Latest news
Westpac wins fight against ‘audacious fraud’
Westpac has won its attempt to recover hundreds of millions of dollars in stolen funds from fraudsters operating under the Forum Finance group.
By DAVID ROSS
What the US election means for your stock portfolio
Amid considerable hand-wringing about the upcoming US Presidential election, systematic global asset manager Dimensional says investors should simply stay the course.
By DAVID ROGERS
Steve Jobs’ son and his mission to stop cancer killing
The Apple co-founder’s son, Reed Jobs, has raised almost $300m to invest in therapies to slash cancer’s mortality rate and make it a manageable chronic condition like diabetes or heart disease.
By JARED LYNCH
Lenders take keys to Quadrant’s restaurant group
Quadrant Private Equity had high hopes for its restaurant chain that owns Rockpool Bar & Grill, but tough economic conditions means it’s walked away.
By BRIDGET CARTER
Aussie food on menu for Asian private equity king
Born into poverty in Taiwan and educated in Austria, former investment banker Tai Lin is on a mission to feed Asia’s millions safely.
By DAMON KITNEY

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