Antony Currie joined Breakingviews when it opened its New York bureau in 2005, working there until moving to Melbourne, Australia in late 2020. He has covered everything from the car industry to investment banking, more recently adding sustainable finance and water security to his beats.
He holds a bachelor's degree in German language and literature and a master's degree in international relations, both from the University of Bristol.
Morgan Stanley, Goldman Sachs and rivals are trimming jobs in Greater China due to a slow recovery and US tensions. Even when activity picks up, boosting market share in the world’s second-largest economy will be tough. The usually dominant financiers will remain fringe players.
Tweaking an arcane resources tax will bag Australia’s Treasury just $400 mln extra a year. It’s barely a drop of the bumper earnings oil and gas companies drilled from war-stoked commodity prices. A direct levy on outsized profits can better channel cash to the energy transition.
The $46 bln financial powerhouse posted record earnings thanks to market ructions supercharging commodities. Strip that out and it’s hard to justify the bank’s book-value premium. Yet Macquarie has a track record of having at least one such lumpy business a year outperform.