Buyers

• US groups have spent over $14 billion acquiring European asset managers this year, marking the highest level of investment since records began in 1995. • According to Dealogic data, these acquisitions are driven by a need for greater scale and expanded capabilities to combat shrinking margins. • The trend is fueled by increasing regulatory costs, fee pressures, and evolving client demands for more diverse investment options.

Exclusive: New entrants the only cohort making more loan applications amid interest rate rises and tax changes, mortgage broker saysGet our breaking news email, free app or daily news podcastFirst home buyers are still taking out a large number of loans, with government backing, even as investors step back from Australia’s property market.New entrants are now the only cohort applying for more loans than they were in June, according to new data from Loan Market, the mortgage broking company. Continue reading...

Victims have lost tens of thousands – and in one case £300,000 – due to fake emails from solicitor or estate agentYou are poised to move house and are awaiting the solicitor’s instructions that things are ready to go and it is time to hand over your deposit. When the email arrives giving you their bank details, you set up the transfer and move the cash. And then the solicitor calls to ask where the money is.Conveyancing fraud involves criminals getting access to an email chain between homebuyers and their solicitors or estate agents and requesting payment to a bank account they control. Sometimes the solicitor has been hacked, but often the homebuyer has been the victim of a phishing exercise. Continue reading...

Albanese said now-infamous interview, dubbed ‘melon-gate’, taught him he needs ‘to do better every day’. Follow today’s news live Get our breaking news email, free app or daily news podcastAnthony Albanese has said he should not have appeared on a podcast where he engaged in a joke about the Japanese prime minister’s gift to him of melons.During an appearance on the comedy podcast Bush Deep last month, the prime minister explained that Japan’s leader, Sanae Takaichi, offered him royal Japanese melons and appeared to make hand gestures in front of his chest, saying “she brought two, as you do”. Host Nikki Osborne joked: “She came in looking like Pamela Anderson.” Continue reading...

• The Korea Composite Stock Price Index (KOSPI) closed in the high 6,900 range, having briefly surpassed the 7,000 mark during the trading session. • The index's performance was driven by foreign investors, who acted as net buyers for four consecutive trading days. • Market gains were supported by easing concerns regarding the U.S. economy, boosting investor confidence in South Korean equities.

Property prices in ‘suspended animation’ owing to higher mortgage rates and uncertainty in Middle EastBusiness live – latest updatesUK house prices were broadly stagnant in July as prospective buyers were squeezed by higher mortgage rates, uncertainty around the Middle East and stretched affordability, according to the lender Lloyds.The average property cost £299,253 in July, down by £143 compared with June, the bank’s monthly index found. Continue reading...

New data shows the federal government scheme has been used by high-income borrowers, including one couple earning an annual $674,000Get our breaking news email, free app or daily news podcastThe government’s 5% deposit scheme for first home buyers has enabled the purchase of nearly 1,500 properties that were turned into investments, new data shows.The scheme is also helping hundreds of Australians earning more than $300,000 a year, after Labor stopped excluding high-income borrowers. Continue reading...