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Daily Dispatches: buyers circle Suncorp

Private equity firm J.C. Flowers, which boasts former Westpac chief executive David Morgan as an operating partner and Australian chairman, has run the numbers on embattled Queensland banking and insurance group Suncorp. (The Australian)

The chief executive of ANZ, Mike Smith, delivered a broadside to the competition regulator, saying the commission’s stance against further bank mergers would not stop it from trying to buy a smaller domestic rival. In comments that sparked renewed speculation about the ANZ’s interest in the banking arm of Suncorp, Smith said yesterday he believed the role of the Australian Competition and Consumer Commission was to investigate bids when they were made rather than pre-judge them. (Business Day)

The unemployment rate surprisingly held steady last month, suggesting companies are reducing employees’ hours rather than resorting to major job cuts. (The Age)

CBA has revealed just how ‘profit rich’ – some might prefer a seven-letter word, starting with ‘gou’ and ending with ‘ging’ – the so-called ‘exception fees’ have been for it and its three peers. (Herald Sun)

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