Daily Dispatches: ASIC raids Caliburn

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ASIC has raided independent advisory firm Caliburn Partnership, as part of what is believed to be a wide-ranging insider trading investigation into share trading activity around major corporate transactions. It is understood Deutsche Bank and KPMG were among other corporations asked to co-operate. (Business Day)

As official figures confirm that Australia's banks have all but displaced other mortgage providers, a leading competition expert has told the Senate the competition regulator should take court action to force Commonwealth Bank to sell BankWest, and Westpac to sell St George. (The Age)

Bendigo and Adelaide Bank plans to use a heavily discounted $300m capital raising to build its regional banking business and position itself as the "first alternative" to the four major banks in Australia, despite a sharp fall in profits. (The Australian)

Suncorp Metway has resisted selling its stake in a specialist truck insurer it operates jointly with Insurance Australia Group, as part of a settlement in a long-running legal battle between the arch rivals. (Business Day)

The number of Australians expecting to work past 70 has doubled since 2006, as the extent of the damage wreaked on retirement savings by the global financial crisis becomes clear. (News.com.au)

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