Jun 1, 2026 – 5.00amChampagne, couture, and racing odds usually dominate the conversation inside The Birdcage, Flemington’s most coveted enclosure on Melbourne Cup day. Even the Reserve Bank of Australia board meeting struggles for airtime amid the sea of spray tans and elaborate hats.But on a dreary Tuesday in early November 2012, as royal guests Prince Charles and the Duchess of Cornwall mingled with racing royalty, a rumour began circulating through the crowd.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Joyce MoullakisAssociate editorJoyce Moullakis is an associate editor writing across company news, policy issues, investment banking, private equity and financial services.Fetching latest articles
Macquarie banks on tech nerds to smash big four’s mortgage oligopoly
When it came to building up its retail banking business, the Silver Doughnut has taken inspiration from America’s tech giants – not its banking rivals at home.
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