☕️Imm(N)uno Compromised

ANZ execs revolt over risk job cuts could breach APRA obligations.

September 08, 2025

Good morning.

ANZ execs have warned interim retail boss Bruce Rush that the bank may breach its enforceable undertaking (EU) with prudential regulator APRA if it proceeds with job cuts in its risk teams, threatening to escalate their concerns to the board.

The compliance breach could also land ANZ in trouble with financial crimes watchdog AUSTRAC and corporate regulator ASIC, according to leaked emails obtained by Capital Brief.

The emails were sent over the past fortnight, after Capital Brief revealed chief executive Nuno Matos put thousands of jobs on the chopping block as he seeks to rectify underperformance and instil a high-performance culture at the bank.

ASX as at market close. Commodities and crypto in USD.

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Market movers

Shares of gold miner Genesis Minerals rose Friday, as the spot price of gold held near record highs. The broader rally in gold stocks, supported by futures trading above US$3610 an ounce, also helped lift Regis Resources, Vault Minerals and Bellevue Gold.

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The quick sync

  • Trump’s looming chip tariffs and fresh trade shocks set the stage for a tense economic week. (Capital Brief)

  • ABC’s $4m bet on AI chatbots and transcription tech now hangs in limbo after job cuts and stalled pay talks. (Capital Brief)

  • PointsBet’s seven-month takeover brawl fizzles into stalemate, with MIXI holding control and Betr refusing to fold. (Capital Brief)

  • Jim Chalmers wants the private sector to carry growth, but falling business investment, flat productivity and sceptical economists suggest the baton may slip. (Capital Brief)

A MESSAGE FROM LEGALVISION

Significant ACCC Merger Shake-Up – Act Now

The ACCC will gain sweeping new powers to block or delay business sales and acquisitions — even if both parties are ready to move.

For the first time in Australia, merger notifications will become mandatory. If your deal meets the thresholds, you’ll be legally required to notify the ACCC and wait for approval before proceeding.

Learn how to navigate new thresholds, manage anti-trust risks, and stay compliant with LegalVision’s free webinar and live Q&A on 18 September. Register today to attend or receive the recording.

Trading floor

M&A

  • Perpetual is close to finalising the long-anticipated sale of its $21b wealth management unit. (AFR)

  • IFM warns Atlas Arteria against rushing into debt- or equity-funded acquisitions. (AFR)

  • ANZ fund 1835i exits Airwallex with $US44m stake sale. (AFR)

  • The seven-month takeover battle for PointsBet ends in stalemate between MIXI and Betr. (Capital Brief)

  • South Australia seeks FIRB block on Cosette’s $672m Mayne bid over factory closure fears. (AFR)

  • Entain to sell its Australian in-venue poker and trivia business. (AFR)

Capital Markets

  • ABC spends $4m on AI tools, including $2.7m chatbot ABC Assist. (Capital Brief)

  • RAM plans $300m ASX debt raising with new bond-style securities. (AFR)

  • Asahi’s Hard Rated hits $500m sales, defying alcohol slowdown. (AFR)

  • Nuveen to invest in Australian renewables and storage. (AFR)

  • OPEC+ to lift output in October despite glut concerns. (Capital Brief)

  • Artrya launches $65m raising after 626% share surge. (AFR)

  • Wagners raises capital at $2.60 a share to fuel growth. (AFR)

VC 

  • NZ startup Starboard Maritime Intelligence raised NZD23m at a NZD53m valuation, backed by OIF Ventures, King River Capital, and Altered Capital. (AFR)

People moves

  • Tesla chair Denholm offers Musk $1.5t incentive to drive AI robotics pivot. (AFR)

  • Geoff Wilson remains active as chairman and CIO of WAM despite “retirement.” (AFR)

☝️ Know about a deal or people move we don’t? Hit reply.

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