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Daily Dispatches: global banking bonus deal is near

Global leaders meeting at the Group of 20 summit in Pittsburgh this week are moving towards a compromise on compensation rules that falls short of the political rhetoric which brands bankers’ pay a worldwide disgrace. (The Age)

As head of Citi Australia, Stephen Roberts must help put the giant bank back on its feet. (The Australian)

Citibank will breathe life into Richard Branson’s Virgin Money group in Australia with a deal to create new credit cards, retail deposit accounts and mortgages, in a bid to break the market stranglehold of the Big Four. (The Australian)

Macquarie Group’s $345m plan to cuts its management ties with its listed airport fund was under threat last night from a rival consortium in a dispute which could trigger a full-blown battle for control. (Business Day)

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