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Follow Crikey’s latest coverage of Macquarie Bank. Crikey’s Macquarie Bank coverage includes independent news, blogs and commentary.


The Power Index: carbon cutters, Oliver Yates at #4

Oliver Yates is the ex-Macquarie banker who turned his back on a lucrative career to head up the government’s controversial (and possibly short-lived) green bank. Why did this “maverick” do it — and what will he do with $10 billion of your money?

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The good and the greedy from business in ’12

There were the executives who won big and the shareholders who lost out — and none of them did it quietly. Our business commentator hands out his annual awards for 2012 …

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The Power Index: biz directors, Kevin McCann at #8

A failed political tilt turned into a glittering corporate career for Kevin McCann, who steers the boards of millionaire factory Macquarie and Origin Energy among other high-profile business gigs. Name nearly any sector of the Australian economy and he’s touched it.

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Fortescue: the prophet and the loss

The disaster unfolding at Fortescue, and the desperate attempt by billionaire Andrew “Twiggy” Forrest to cling on to his fortune prove again that when Jim Chanos says something, it’s worth listening.

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Joye: economy, housing market stronger than you think

As we move on into the spring, it is an opportune time to take stock and see where the Australian economy, and its housing market, are heading, writes Christopher Joye of Property Observer.

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Fund managers, investors on the Lemming Express

Why the shares in probably the safest of the sectors in the market had to be sold yesterday in their millions, and were then bought back in the afternoon, will be the biggest mystery of yesterday’s outing by the lemmings of Australian finance.

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Macquarie arm in secret multimillion deal with SBS

A Macquarie Bank subsidiary entered into a secret side contract with the SBS, under which an “incentive payment” of $3.85 million was paid without being declared to the market or the ABC.

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Still the Millionaire Factory, just sharing the moolah around

When does a Millionaire Factory stop being a Millionaire Factory? Not when it makes an annual profit of $956 million, pays its top 12 executives $59 million and has 15,325 staff earning an average $254,486 in the austere post-GFC environment of the past 12 months.

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Banks’ job a simple one … but they do it poorly

Many commentators erroneously point to the so-called heroic role played by Australian banks in steering Australia through the GFC, when it was the Australian taxpayer that saved the banks.

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How Macquarie got its result back on the MAp

Macquarie Group raided its profitable Macquarie Airports piggy bank to dress up its 2010 interim result and hold the reported fall in after-tax profit to a more comfortable level.

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The sharks are circling Macquarie, a factory on the slide

There is nothing intrinsically wrong with Macquarie, except that it is now just another investment bank that has run out of bright ideas, swimming at the back of a pack of larger, hungrier sharks.

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Macquarie loses its competitive edge as earnings slump 25%

Macquarie’s worsening performance and lacklustre return on equity is the inevitable result of a business that has lost its primary competitive advantage.

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What’s eating at Macquarie Bank?

The big question mark over the new Macquarie model is whether its failure to gain traction and generate respectable performance is due only to the peculiar market circumstances or whether the model itself is incapable of generating the kinds of returns Macquarie investors and staff have become accustomed to.

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Forget CEO pay, investment banks laughing all the way to the bank

During the Global Financial Crisis, when Australian companies clamored to raise precious capital to shore-up their balance sheets, investment bankers and their favoured institutional clients made out like bandits.

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Fairfax overcooks Macquarie ‘cheap shots’

The Sydney Morning Herald has overstepped the mark with today’s attack on Macquarie Bank, which is just another shot in the war between Michael West and Macquarie.

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Short memories, fat wallets for Macquarie high flyers

It appears that Macquarie Bank directors have short memories — barely a year since the credit crunch caused turmoil in financial markets, money again is being spread around the executive suite at Martin Place with gay abandon.

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China property prices soar … gold prices to be driven down …

China property prices hit record highs … Greece is in worse shape than most thought … Plane sailing for Macquarie … A bonus for the hard-working South Korea … An embarrassing time for Morgan Stanley … Fluctuating fortunes of the gold market …

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Tips and rumours: more Chantelois appearance?

Mike Rann is attending a function at the Adelaide Intercontinental Hotel tonight at 7pm. Has Michelle Chantelois been tipped off, and will she make an appearance? Plus, rotten news for Macquarie Bank’s staff in the Big Apple.

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US Treasury boss goes into bat (and print) for himself

Former US Treasury Secretary and Goldman Sachs CEO Henry Paulson on Tuesday undertook a strident defence of his management of the US economy during the height of the financial crisis.

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Macquarie’s missing millions leave shareholders guessing

What has happened to the A$500 million that Macquarie gouged from its former stable of listed infrastructure funds since September? asks Karen Maley.

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Feds tell banks ‘there are no guarantees’

The federal government is finally withdrawing its guarantees to banks and the state governments that allowed both groups to have a good recession. The measures kept our banks alive, but they gave the Big Four too much power.

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We cross now live to…

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China 2: bubble a benchmark in capital spending

While the China bubble could continue for months or years to come — a planned economy not known for human rights and continuing to defy gravity would also need to defy history, writes Adam Schwab.

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Rebel with a pause as private equity puts hit-and-run on hold

News that private equity has pulled another attempt to take the money and run from a poorly performing retailer again causes us to ask, just where is the added value from private equity?

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Macquarie’s "fair and reasonable" millions anything but

KPMG’s approval of Macquarie Airports’ $345 million bounty is kind of like saying a thief who steals your wallet was being fair and reasonable because they didn’t shoot you afterwards.

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Womens Agenda

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Leading Company

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Smart Company

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StartupSmart

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Property Observer

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