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Good morning,

The Albanese government has been forced to strike an emergency deal for gas volumes this winter after the competition regulator issued shock figures warning a shortfall of supplies for southern states had doubled from last year. 

Meanwhile, as more renewable developers miss out on prized transmission access, some are exploring the idea of supporting prospective data centres in a tactical reinvention of their business models. 

And Sanjeev Gupta’s InfraBuild has attacked the Ben Brazil-led private equity firm FitzWalter over its ­demand for an immediate $800m repayment from GFG Alliance, describing its lawsuit as “spurious” and calling for the case to be ­dismissed. 

Vesna Poljak
Business editor
The markets


Making news this morning
1
Local car parts manufacturers ‘alarmed’ by Trump tariffs
Australian car parts manufacturers are ‘alarmed and concerned’ at Donald Trump’s latest trade war escalation, as investors bail out of auto-related stocks.
2
Uranium the trump card in US trade talks
Australia should use uranium as a bargaining chip in trade talks with the US aimed at lessening the effect of tariffs, says the Minerals Council.
3
Data breach leaves 16,000 SMH, Age and Fin readers ‘exposed’
Nine has had to warn thousands of readers of three of its major publications after their details were exposed in a data breach.
Editor's picks
MARGIN CALL
Legal eagles launch a broadside at ACU
Barristers and notable figures have put their names to a 20-page letter pointing out why the Australian Catholic University may have breached the ‘standards for continued registration’.
By YONI BASHAN, NICK EVANS
MEDIA
Domain sale to CoStar is all but a done deal
Nine Entertainment appears certain to sell its stake in real estate business Domain after receiving an improved bid from US suitor CoStar.
By JAMES MADDEN
Commentary
Markets are underpricing the risk of a US recession, says JPMorgan
By DAVID ROGERS
Markets Editor
The latest shot in Donald Trump’s trade war caused barely a ripple on global markets, but the risk of recession is now at an ‘uncomfortably high’ level.
How Labor dropped the ball on the rule of law
By CHRIS MERRITT
Legal Affairs Contributor
The Albanese government could have headed off claims it has no appetite for reform when a report into corporate and financial services regulation landed. But it failed to do so.
DataRoom
Healthscope offers suitors due diligence with sale process afoot
Brookfield is weighing up whether to sell or restructure its cash-strapped hospital operator and is calling for bids by May.
Investors fear second equity raising coming for Bellevue Gold
The Western Australia gold miner remains in a trading halt pending a potential production downgrade.
Investment bankers pitching for Trade Me roles
Investment banking activity is heating up around New Zealand’s largest online auction and classifieds website Trade Me.

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