Wall Street Heavyweights Grow Super Assets
Today's must-reads:
• Wall Street giants grow super assets
• Airwallex co-founder's net worth surges
• First female Treasury secretary
Wall Street giants are gaining a bigger slice of super assets with Boston-based State Street's assets under management in Australia jumping 50% in 15 months as Australian pensions put more money offshore
Airwallex co-founder Jack Zhang's stake in Stripe is worth US$775 million as the entrepreneur's net worth surged in the decade since starting the Melbourne-based company and rejecting a deal from rival Stripe
Treasury will be headed by a woman for the first time with Jenny Wilkinson taking on the role of secretary for the department for a five-year term starting next week
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11 hours ago
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Britain, Australia to deepen AUKUS commitment, economic ties
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14 hours ago
- Yahoo
Lammy and Healey to sign bilateral Aukus deal during trip to Australia
The UK will sign a new 50-year bilateral Aukus treaty with Australia as the Foreign and Defence Secretaries visit the country on Friday. David Lammy and John Healey will meet their counterparts at the annual Australia-UK ministerial meeting, or Aukmin, in Sydney, and then travel on to Melbourne to meet businesses involved in the Aukus submarine programme. They will also visit Darwin as the Carrier Strike Group docks in the Northern Territory. The Aukus partnership between the UK, US and Australia involves building nuclear-powered attack submarines – including Australia acquiring its first such fleet – and co-operating in other areas of defence. It was agreed by the three countries in 2021, but the Trump administration has put it under review, raising fears it could pull out. The deal now being signed by the UK and Australia sets out the bilateral aspects of the partnership and how the two countries will work together to deliver their Aukus submarine programmes over the next half century. Defence Secretary Mr Healey said: 'Aukus is one of Britain's most important defence partnerships, strengthening global security while driving growth at home. 'This historic treaty confirms our Aukus commitment for the next half century.' He said people 'not yet born' will benefit from jobs secured through the deal. More than 21,000 people in the UK are expected to be working on the programme at its peak. Foreign Secretary Mr Lammy said the UK-Australia relationship is 'like no other'. He added: 'In our increasingly volatile and dangerous world, our anchoring friendship has real impact in the protection of global peace and prosperity. 'Our new bilateral Aukus treaty is an embodiment of that – safeguarding a free and open Indo-Pacific whilst catalysing growth for both our countries.' The UK's Carrier Strike Group – an international formation of Royal Navy warships, submarines and aircraft – has been taking part in the Talisman Sabre military exercise hosted in Australia. The Australia and US-led military exercise involves more than 35,000 military personnel from 19 countries. Shadow defence secretary James Cartlidge said: 'Aukus was a landmark achievement of the last Conservative government and it's essential that Labour keeps up the momentum, including on industrial collaboration. 'We welcome further progress but this must deliver in practice, both in terms of jobs and strengthened mutual security, at a time of heightened threats.'
Yahoo
15 hours ago
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Tractor Supply Q2 beat, Valero Energy falls, Spotify upgraded
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