Money Briefs: Australia bourse chief quits amid graft probe

Australia bourse chief quits amid graft probe

SYDNEY • Australian bourse operator Australian Securities Exchange (ASX) said its chief executive officer has quit as police investigate allegations of bribery at gambling company Tabcorp Holdings, which he formerly headed.

Tabcorp last week revealed it was under investigation by Australian Federal Police over a payment concerning a Cambodian business opportunity in 2009.

The police said only that they were investigating allegations of foreign bribery relating to Tabcorp.

Mr Elmer Funke Kupper, who was CEO of Tabcorp from 2007 to 2011 before taking up his role at the ASX, could not be reached for comment.

AGENCE FRANCE-PRESSE


Data firms IHS, Markit to merge in $18b deal

LONDON • Data company IHS has agreed to buy Markit in a deal that values the combined firms at more than US$13 billion (S$18 billion), another sign of consolidation in the financial infrastructure industry.

IHS shareholders will get about 57 per cent of the enlarged data and analytics company, and Markit stockholders will get the rest, according to a statement yesterday.

The tie-up, which will be called IHS Markit, will be based in London, and would have US$3.3 billion in revenue based on 2015 results.

IHS provides technical information for industries like finance, aerospace, automotive, energy and technology. Markit compiles indexes for financial products.

BLOOMBERG

A version of this article appeared in the print edition of The Straits Times on March 22, 2016, with the headline 'Money Briefs: Australia bourse chief quits amid graft probe'. Print Edition | Subscribe