Capital Economics are not expecting US growth to recover until mid-2020 and even then the improvement will only be slight.

This is despite the market expecting a lift in the second half of 2019.

"[Investors] still seem to be very optimistic about the outlook as the S&P 500 is near a record-high," said assistant economist Nikhil Sanghani.

"However, we don't think that the prospect of monetary easing in the second half of this year will stop US GDP growth from slowing sharply. Monetary policy operates with lags which is why, in our view, US growth will only recover slightly in mid-2020."

Australian retail entrepreneur Ruslan Kogan has led a $3.5 million funding round for online property platform Landchecker, which is looking to take on retail listings sites such as Domain and realestate.com.au, with a more comprehensive offering of information about individual properties.

The Kogan.com founder is joined in the series A funding round by motoring organisation RACV, which led a seed funding round in the company last year, as Landchecker expands its national footprint from its Victorian roots into NSW.

Unlike most property listing sites, Landchecker collates a wealth of information about properties, which can be searched via an online map. This includes having features including high-resolution aerial imagery, detailed property reports, listings and sales histories, planning permits and zones in one listing.

Paul Smith has the full story here.

ANZ Bank has agreed to settle a legal claim over a type of bank fee for $1.5 million, conceding a small win to an otherwise unsuccessful class action against the lender.

Under the proposed settlement, which is still awaiting court approval, ANZ customers who were charged a fee for a failure to make scheduled payments between two of their own accounts may be able to claim refunds from the banking giant.

In what was billed as the biggest class action in Australian history, law firm Maurice Blackburn in 2010 launched a legal battle on behalf of customers against various fees charged by banks, which was ultimately defeated in the High Court in 2016.

Clancy Yeates has the full story here.

Like rats from a sinking ship, bankers from investment firm CLSA departed en masse to American investment outfit Jefferies in a calculated clean-out of the business early last month.

Just a few were left behind.

Jefferies Australia, meanwhile, is expected to be up and running within months, the first new institutional equities business in the country since the Commonwealth Bank and Nomura started their operations (both have since failed).

The business will be run by former UBS senior operator Michael Stock.

Kylar Loussikian and Samantha Hutchinson have the full story here.

Embattled wealth manager Evans Dixon has appointed Peter Anderson as chief executive officer to replace Alan Dixon while chief financial officer Tristan O'Connell will step down due to health issues.

Mr Anderson, previously the executive chairman of insolvency and accounting firm McGrath Nicol, had served as a non-executive director of Evans Dixon since April of this year.

He will assume the role with immediate effect but will remain on the board until another non executive director is found. The company will also begin a search for a new chief financial officer after Tristan O'Connell's departure.

Evans Dixon was created in 2017 via the merger of Evans & Partners and Dixon Advisory and listed on the ASX in May 2018.

Jonathan Shapiro has the full story here.

US tech company SS&C Technologies is firming up as the likely winner of a bidding war for local financial services and wealth administration software company GBST, with the Aussie firm knocking back a higher proposal from a rival suitor.

Global fintech FNZ made its third crack for the business, coming in with a $3.65 per share proposal, but this was not enough for GBST to back away from the exclusive due diligence it had granted to SS&C, despite the non-binding conditional proposal being 5¢ per share higher than SS&C's upgraded bid made last week.

GBST chairman Allan Brackin said in a statement the company hoped to received a binding bid from SS&C and it had structured the formal tender process in a way that the GBST board believed was most likely to convert a non-binding proposal into an offer.

Yolanda Redrup has the full story here.

The Australian sharemarket has extended its losses through the afternoon, with CSL, the major banks and miners weighing heavily.

The S&P/ASX 200 Index is down 78.6 points, or 1.2 per cent, to 6672.7.

CSL is down 1.9 per cent, BHP Group has fallen 1.3 per cent and Commonwealth Bank has dropped 1 per cent.

G8 Education has lost 8.8 per cent, HUB24 has dropped 6 per cent and Eclipx Group has declined 4.2 per cent.

It will likely take some weeks before the full local ramifications of Deutsche Bank's global restructure are clear, but it's fair to say the initial (and emotional) reaction is that the Australian business has been cruelled by its shaky German parent.

Deutsche will slash 18,000 jobs – just under a fifth of its workforce – in a €7.4 billion ($11.9 billion) restructure that will see it push $US300 billion ($429 billion) of assets into a so-called "bad bank" and then retreat from the global equities business.

Chief executive Christian Sewing's grand reset is designed to focus the bank on more stable sources of income, particularly commercial and private banking. Deutsche Bank's grand plan to challenge the titans of Wall Street Investment banking looks all but over.

Chanticleer has the full piece here.