Macquarie Group Ltd., Australia’s largest investment bank, said second-half profit more than doubled and forecast higher earnings next fiscal year as the global economic recovery drives a surge in trading.
Singapore Exchange Ltd., pursuing a A$7.78 billion ($7.78 billion) takeover of ASX Ltd., offered to give more board seats to Australians as the companies battle to overcome opposition to the deal from lawmakers in Canberra.
Singapore Exchange Ltd.’s takeover of the main Australian stock market, which received instant disapproval from lawmakers, may gain investor support as ASX Ltd. gets a 42 percent premium and owners of the bidder pay no more than the average of comparable deals.
Asian stocks fell, dragging down the benchmark index for the week, after the U.S. Congress delayed a vote on a plan to raise its borrowing limit, increasing concern the country will default on its debt.
Asian stocks fell, dragging a benchmark regional index lower for a third day this week, on concern U.S. unemployment and efforts by emerging countries to tame inflation will hamper a global economic recovery.