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Good afternoon,

The founder of the First Guardian Master Fund boasted of his ethical credentials years before he and his partner struck a deal with advisers that would lure more than $600m into the now failed strategy, most of it lost.

Private equity firm Blackstone is understood to have considered buying non bank lender Pepper Money but walked away when KKR’s asking price was too high, writes DataRoom's Bridget Carter.

Meanwhile, the Australian Workers’ Union is emerging as a key gatekeeper to the Albanese government’s approval of a near-$30bn takeover bid for Santos by Abu Dhabi’s state-owned oil giant, ADNOC, according to Macquarie.

Vesna Poljak
Business Editor
The markets


Commentary
Global fund managers warn the 60/40 portfolio is dead
By WILL HAMILTON
The 60/40 portfolio is used to balance growth via stocks with stability from bonds. But the model is shifting, and it was a talking point among global wealth managers gathered in M...
Latest news
Liontown stares down ‘killer’ prices to etch its place in WA lithium’s future
Managing director Tony Ottaviano and chair Tim Goyder are adamant the mine will not be mothballed despite facing increasing challenges. ‘The last quarter has been bloody tough,’ Liontown’s managing director admitted.
By BRAD THOMPSON
Qantas cyber breach: customers still in the dark
Qantas customers are worried cyber criminals could identify frequent flyers ‘with the most to lose’ and those on the airline’s closely guarded Chairman’s Lounge list.
By ROBYN IRONSIDE
Aussie mags, including Women’s Weekly, up for sale
The ideal buyers will take on all of Are Media’s assets, which include Australian Women’s Weekly, ELLE, marie claire, Better Homes and Garden, WHO, Woman’s Day, House & Garden and Gourmet Traveller.
By JAMES MANNING
Art-breaking: The picture isn’t pretty for investors
More than half of art works sold for a negative return, marking the worst performance this century. So, is it a good time for bargain hunting investors?
By ABBY SCHULTZ

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