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Daily Dispatches: don’t over regulate us, says Mac

Macquarie Group has urged the Government to resist the temptation to increase regulation in response to the global financial crisis. It warned that such action could stifle the innovation that drove the investment bank’s ambitious push into infrastructure around the world. (Business Day)

Conventional wisdom says JBWere’s private client division was doomed the day Terry Campbell agreed to sell 45 per cent of the firm six years ago to Goldman Sachs, and if there was any lingering doubt, today’s sale to NAB confirms the prediction. No matter what NAB may say, the JBWere brand is now effectively dead. (The Australian)

Elders Rural Bank has posted a 10 per cent lift in annual profit and says retail deposits remain strong. The company is a joint venture between Elders and Bendigo and Adelaide Bank. (Herald Sun)

The downturn in the market for legal services has forced one of the nation’s largest commercial law firms, Mallesons Stephen Jaques, to unveil a voluntary redundancy program aimed at shrinking its workforce by 5 per cent. (News.com.au)

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