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Good morning,

Alcoa says keeping its Portland aluminium smelter in Victoria open beyond 2035 will hinge on securing a competitively priced electricity deal, while dismissing green hydrogen as a potential energy source for its Australian operations. 

Meanwhile WiseTech is “accelerating” its acquisition spree, confirming it’s in talks to buy New York-listed logistics software company e2open, as founder Richard White cements his authority and attempts to move on from a sex scandal.

And Australians have been misled into believing Labor has slashed the amount of taxpayer money it spends on expensive consultants in the wake of the PwC tax leaks scandal, according to a review of AusTender data.

Vesna Poljak
Business editor
The markets


Making news this morning
1
At last, Gupta’s GFG files some financial accounts
Sanjeev Gupta has finally filed some overdue accounts — and while they’re not the ones everyone is really interested in they still offer a revealing insight into the way his empire works.
2
Rio investors reject unification bid, hedge fund defeated
A push to bring an end to Rio Tinto’s dual listing has been knocked back by the mining giant’s shareholders, but the level of support for the motion means it could be revisited one day.
3
GPT performance cops activist fire at annual meeting
GPT Group is going deeper into funds management but it was the diversified property trust’s office exposure which fired up investors on Thursday.
Editor's picks
MARGIN CALL
Fortescue dragging the chain in IP fight
A Federal Court judge has taken a swing at Andrew Forrest’s Fortescue, suggesting its lack of legal urgency over the case against two of its former execs could see her into retirement.
By NICK EVANS
CONSTRUCTION
Major shakeup as Australia’s top 50 builders revealed
There are major moves in the top builders across the country, with some players hit by cost blowouts while others have risen up the ranks with huge project pipelines.
By BEN WILMOT
PROPERTY
200-year-old highlands estate to hit market for $55m
It has been a single land holding in the NSW southern highlands for over 200 years and neighbours include actor Nicole Kidman. Now a former tech entrepreneur plans to make a tidy profit.
By LISA ALLEN
Commentary
‘Turn back the trains’: How Trump tariff blitz is hitting home
By ERIC JOHNSTON
Associate Editor
The CEO of US aluminium giant Alcoa is at the very front lines of a global trade war. Bill Oplinger has offered a revealing insight on navigating the new world.
Calm in markets belies fears of storm to come
By DAVID ROGERS
Markets Editor
Markets have recovered from massive falls but the uneasy calm of recent days may prove unsustainable with a period of economic scarring likely.
DataRoom
Multiplex posts $122m loss, hit by Queen’s Wharf project
The Brookfield-owned company is believed to have taken a major financial hit from building the Brisbane complex for Star Entertainment and its backers.
Platinum merger plan values L1 Capital at about $1bn
Top stock pickers Raphael Lamm and Mark Landau have the backing of Platinum founder Kerr Neilson for a deal.
Greenhill Australia slips to loss as new owner prompts changes
The company, which was recently sold to a Japanese financial firm, advised on the Pacific Smiles takeover battle in Australia last year.

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