Daily Dispatches: ANZ invests in Indonesia

ANZ says it will invest up to $US100m ($A110.23m ) in capital in Indonesia during 2010 to complete the acquisition of the Royal Bank of Scotland's (RBS) retail and commercial businesses in that country, and accelerate organic growth. (Sky News)

Commonwealth bank chief executive Ralph Norris has called time on an era of consolidation involving the major banks, arguing the competition regulator was only likely to flag through mergers between second-tier players. (The Australian)

Australia's big-four banks - which have complained loudly about higher funding costs eating into bottom lines - posted a minimum 10 per cent return on equity over the past two years. (Sydney Morning Herald)

Within months of agreeing to buy an iron sands mine through a bidding process run by Merrill Lynch, Cheung Kong Infrastructure (CKI) saw the mine's revenue and customer base disintegrate, it claims. Armed with what it hopes will be damning evidence about the investment bank's behaviour during the sale, CKI is suing Merrill Lynch for deceptive and misleading conduct and seeking undisclosed damages, which could include the $190 million purchase price. (The Age)