Daily Dispatches: Kiely keeps his job

David Kiely, the Macquarie Wealth adviser who was sprung by a TV broadcast on Tuesday looking at photographs of scantily clad women, has been told he will keep his job. Macquarie said in a statement today it had completed an internal review of the events on February 2 and action had been taken after discussions with the employee. (The Australian)

Rudd government's decision to withdraw the wholesale banking guarantee is betting on the fact that there won't be any more seismic shocks to the global financial system. Hopefully, such confidence is not misplaced. (The Australian)

New Zealand is reviewing its wholesale funding guarantee for banks and may withdraw the facility following plans announced yesterday by Australia. (Bloomberg)

National Australia Bank chief executive Cameron Clyne has taken personal charge of the negotiations with France's AXA SA, for the $13bn-plus carve-up of the Australian wealth manager, AXA Asia Pacific. (Business Day)