L1 Capital tweaks Platinum deal terms as merger nears finalisation

Melbourne-based fund manager L1 Capital will retain a greater share of the performance fees associated with its $1.8 billion ASX-listed Long Short Fund as it edges closer to a merger with Platinum Asset Management.
Platinum also said its ownership portion of the merged entity will increase slightly from the initial 25 per cent of the company to 26 per cent as it seeks to lock down terms with L1.

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News.com.au

6 hours ago

• News.com.au

Nissan Qashqai N-Design hybrid latest cashback deal offers better value

What do you do when public support begins to waver? You double down on your commitment. In this case, it comes via Australia's longest warranty to prove this Japanese marque is in for the long haul. Nissan has been a brand under pressure in recent times. Headlines of i mpending financial doom and a failed amalgamation with Honda, has led to the appointment of a new chief executive who has initiated job cuts worldwide and a restructure, along with a revitalised product line-up. Electric vehicles (a new Leaf EV has just been revealed) and hybrids will play a pivotal role in the new company direction, so it was timely Nissan updated its Qashqai range in Australia four months ago. There is a new N-Design derivative of the hybrid Qashqai e-Power that costs just below $60,000 once on-roads are covered, with the new top-shelf version pricing pitting it against the larger Toyota RAV4 Hybrid Edge ($62,176), the similarly sized Toyota Corolla Cross Atmos ($50,620), Honda's recently released ZR-V e: HEV LX ($54,300), the Hyundai Tucson Hybrid Premium ($62,490) and even the Mitsubishi Outlander PHEV Aspire ($64,490). What do you get? The N-Design additions deliver a premium feel to the Qashqai. Body-coloured bumpers and wheel arches, black roof, as well as glossy black finishes on the mirrors and a strip along the base of the doors, plus a new grille combine with 20-inch alloys for the up-market finish. Stepping up from the Ti-L to the N-Design costs about $7300, with the other key differential the seat trim, where alcantara is used in combination with leather sections. Alcantara is also used on the dash, doors and knee pads, while other feature highlights include two 12.3-inch screens (one a central infotainment touchscreen and the other for driver instruments), wireless and wired smartphone mirroring apps, phone charging pad, a 10.8-inch head-up display, power tailgate and a panoramic glass roof. Strangely, the N-Design does miss out on a 10-speaker Bose sound system, massaging front seats, luggage boards in the boot and electric adjustment of the passenger seat found in the Ti-L. All N-Designs come with a black roof and can be combined with blue, teal, white, grey or red. The 10-year or 300,000km warranty sets a new benchmark in Australia, trumping Mitsubishi (200,000km) and MG (250,000km). Like the other brands, Nissan's coverage is 'service activated' so to maintain the warranty servicing must be undertaken at an authorised dealer. Per service, the e-Power costs the same as a standard Qashqai at $399 each for the first five – but the e-Power has shorter intervals, 10,000km as opposed to 15,000km. How was the drive? Bordering on athletic, the N-Design Qashqai feels agile and confident. Typically starting and taking off on pure eclectic power, it's quiet and smooth. The new 20-inch alloys do feel sharp ruts and can be noisy on coarse surfaces, but in most conditions the compact SUV feels well calibrated and capable with steady power delivery. Nissan's hybrid system works differently compared to some rivals, with all power to the wheels coming from the electric motor. The engine's job is to keep the battery fuelled. Regeneration can also put power back into the battery when braking, and there is also an 'ePedal' button on the console for one pedal driving that essentially eliminates the need to use the brake. The Qashqai will run on pure electric power for short distances as long as you don't accelerate heavily. Those travelling long distances will appreciate the full size spare in this variant, but that does come at a cost with boot space reduced to just over 400L (about 50L less than the other e-Power model). Our test saw average fuel consumption dip to 5.0L/100km. That's slightly lower than the official figure from Nissan – but it does require the more expensive 95 premium unleaded. Would you buy one? Kel: During our drive last year I enjoyed the experience and this new model is more of the same. But once again the price is a stumbling block. We recorded slightly better fuel efficiency this time around and I do love this look even more than the ­Ti-L, yet I would still battle to outlay $60,000. Grant: Great proportions and lines make the Qashqai a standout in the Nissan SUV range. The N-Design version is a stunner with the massive alloys and exclusive external treatments. But some of the missing features compared to the less expensive model below are hard to swallow. There is a $3000 cashback offer this month, which does sweeten the deal and it's deserving of being on hybrid SUV buyer shortlists.

AU Financial Review

7 hours ago

• AU Financial Review

AWU says Chalmers must put big conditions on $36b Santos takeover

The Australian Workers Union is demanding Labor force Santos' Abu Dhabi suitor to supply more gas to the domestic market and sell four processing plants before it is allowed to buy the country's second-largest oil and gas company in a transaction worth more than $36 billion. The influential union is a key supporter of Treasurer Jim Chalmers, who will decide whether a consortium led by the state-owned Abu Dhabi National Oil Company, known as ADNOC, can acquire the ASX-listed company.

AU Financial Review

7 hours ago

• AU Financial Review

Will the third time be a charm for ADNOC's $36b plans for Santos?

Last Friday, as Adelaide experienced an early morning cold snap, the city's largest ASX-listed company received a surprise communication from the Middle East. Santos was told to expect a proposal. It arrived after the market closed, an email detailing a non-binding $36.4 billion offer for the oil and gas producer, the ASX's largest ever cash bid. The bid, according to one person who was involved in the confidential discussions, 'came virtually out of the blue'. That's because the consortium, led by the Abu Dhabi National Oil Company, had been there before. Two offers in late March had been rebuffed. Then months of silence.