Daily Dispatches: ANZ eyes up Asia

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ANZ Bank has set it sights on a more ambitious sweep of acquisitions in Asia, beyond the Royal Bank of Scotland assets for which it is bidding. Its small investors have presented it with a $2.2bn capital raising bonanza. The huge intake of funding has also led to increased speculation that ANZ was preparing for a renewed tilt at Suncorp-Metway's troubled banking division. (Business Day)

And ANZ is also making progress on an RBS deal. (The Australian)

ACCC chairman Graeme Samuel made it clear yesterday that any attempt at a bank merger would trigger the detailed and wide-ranging inquiry into the country's financial system that is being urged by a group of prominent economists, as such a deal would almost certainly be bad for competition. (Sydney Morning Herald)

AMP is to separate advice fees from financial product costs to pre-empt consumer demands for greater transparency in the wake of various financial scandals. (Courier Mail)

A war of words has erupted over new rules that allow superannuation funds to give their members basic financial advice on which investment option to choose. (Herald Sun)

Health authorities have lost the battle against swine flu, conceding it now makes up about 60 per cent of all influenza cases. And it is only going to get worse as businesses already feeling the impact brace for bigger numbers in staff absenteeism. (News.com.au)

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