The Loop: ANZ takes over Suncorp, Rugby Australia issues a lifetime ban, and England braces for its hottest day yet

Hi, over there. It’s Monday, July 18th and you’re reading The Loop, today’s news summary.

Brisbane-based banking and insurance company Suncorp has accepted ANZ’s $4.9 billion offer to take over its banking operations — but the deal will take at least 12 months before the deal is finalized, and has several hurdles to work through in the meantime.

ANZ is now tasked with raising an additional $3.5 billion in funds to pay for the deal, and will need approval from the Australian Competition and Consumer Commission (ACCC) and Federal Treasurer Jim Chalmers.

Queensland State Financial Institutions and the Metway Incorporation laws also need to be amended for the takeover to proceed.

Provided the deal gets the green light, it would make ANZ Australia’s third-largest bank for home loans, according to analysis from RateCity (using APRA data).

The next step is for ANZ to submit a merger authorization application to the ACCC, which is expected to be received by the regulatory body next month.

The tens of millions of doses of the COVID-19 vaccine purchased by the federal government have yet to be delivered, raising questions about what to do with the excess, especially as new vaccines with certain variants are being purchased and rolled out.

To date, Australia has purchased 255 million doses of the COVID-19 vaccine, split between Pfizer, AstraZeneca, Moderna and Novavax to provide protection if one or more fail to function.

Australia has millions more doses of the COVID vaccine than needed.(ABC News: Che Chorley)

So far, only 60 million doses have been used, even with a fourth dose increase, while Australia has also donated more than 40 million doses in the Indo-Pacific, either from its own stockpile or from UNICEF.

What will happen to the rest? Federal Health Minister Mark Butler has ordered a review of Australia’s vaccine agreement, which will look at what to do with the oversupply.

“If it turns out we have a surplus, then I’d like to have a variety of options in front of us about what to do with the surplus vaccine that we have to take contractually,” Butler said.

News you might have missed

• An Australian teenager brought to Syria when he was 11 is believed to have died in the country, months after asking the Australian government for help. Yusuf Zahab, 17, had been held in the Guweiran prison in Hasaka City, along with suspected ISIS members when ISIS attacked the prison to free its fighters. It is not clear when or how he died, but it is believed he died in prison.

Yusuf Zahab previously told his family he feared he “might die at any moment”.(Provided: Human Rights Watch)

• Rugby Australia has banned a spectator for life after he was filmed climbing onto the roof of the SCG and urinating from the top of the O’Reilly Stand during the Wallabies’ defeat to England on Saturday night. Rugby Australia also condemned fans for making “offensive remarks” towards England staff that night.

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• A report on a mass shooting at a school in Uvalde, Texas, found police “failed to prioritize saving innocent lives” at Robb Elementary School. The report criticized state and federal law enforcement for not acting when a gunman opened fire in a fourth-grade classroom.

What Australians are looking for online

• Jennifer Lopez and Ben Affleck: The celebrity couple nicknamed “Bennifer” confirmed that they tied the knot at a drive-through chapel in Las Vegas. Previously, it was reported that the couple had obtained a marriage license in Nevada, but Lopez shared the news that they were officially married in a newsletter sent to his fans. Lopez also confirmed that she changed her name to Jennifer Lynn Affleck.

That’s Mr and Mrs Affleck for you.(Provided: OntheJLo.com)

• British heatwave: Britain is expected to be scorching through its hottest day in history on Monday, local time, with mercury expected to hit 40C in London for the first time on record. A “jet stream vortex” was to blame for the heatwave, which sent masses of hot air across the country. As a result, the UK’s first red extreme heat alert has been issued, along with a level 4 health alert for Monday and Tuesday.

Londoners are doing whatever it takes to stay calm.(Reuters: Maja Smiejkowska)

One more thing

• The South Australian chimpanzee is in good condition after being exposed to the respiratory virus (RSV).
• Monarto Safari Park announced the chimpanzee enclosures will be temporarily closed after the virus was detected last week.
• As to where they caught the insect, Zoos SA’s chief executive said a malicious net that exploded into their cage could be to blame.
• To help them recover, the chimpanzees have been sipping tea with honey and lemon — yes, really — and enjoying the homemade soup, along with plenty of rest.

Chimpanzees are just like us when it comes to recovering from illness.(SA Zoo/Adrian Mann)

You are up to date

We’ll be back in the morning with more.

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