Daily Dispatches: Obama steps up war on banks
US President Barack Obama has proposed stricter limits on financial institutions' risk-taking in a new populist-tinged move that sent bank shares tumbling and aimed to shore up the President's political base. (Sydney Morning Herald)
Fund manager Colonial First State has teamed up with a London firm to offer mum and-dad investors access to managed futures, once the preserve of institutional investors. (The Australian)
AXA Asia Pacific says National Australia Bank has completed due diligence on its proposed $13.3bn dollar takeover. (Sky News)
Shares in Axa Asia Pacific and one of its predators, AMP, defied the sell-off on the Australian Stock Exchange yesterday after the takeover target revealed that its 2009 profit would exceed analysts' forecasts. (Courier Mail)
