Daily Dispatches: Macquarie's great salary debate

Macquarie Group has warned it could be forced to increase the cash component of its bankers' salaries if shareholders reject a proposal to change its remuneration plans. (The Australian)

And Macquarie will ask shareholders to approve about $18.6m in new shares for chief executive Nicholas Moore as part of an overhaul of remuneration for the investment bank's top executives to drive up long-term returns. (The Age)

The new boss of Merrill Lynch in Australia, Craig Drummond, has set his bankers the ambitious target of rebuilding the US firm's domestic market share and becoming a top-three investment bank. (The Australian)

National Australia Bank said today it agreed to acquire Hong Kong-based Calibre Asset Management for an undisclosed amount. The move comes as Australian banks look to expand into the fast-growing Asian asset management industry. (The Australian)

Total hourly rates of pay, excluding bonuses, rose 0.7 per cent in the September quarter, seasonally adjusted, the Australian Bureau of Statistics said today. (Business Day)

The chief executive of AMP, Craig Dunn, is intensifying the campaign to have takeover target Axa Asia Pacific return to the negotiating table by declaring the market likes the potential merger, while vowing to increase the superannuation contributions made to AMP staff. (The Australian)