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The Australian Business Review
 

Good morning,

Meet the super fund that’s made a massive windfall on Australia’s hottest tech stock, Canva. Hostplus has made around $1.9bn from an outlay of just $94m on the graphic design company.

Power prices will rise in Australia’s electricity grid as big coal power stations are shut down and the rollout of renewable and storage capacity slows, UBS says, with NSW the most exposed once the Eraring plant closes.

Origin Energy has acquired a stake in a specialist decarbonisation firm that works with manufacturers, miners and commercial property owners on projects to slash their emissions.
Perry Williams
Business editor
The markets


Making news this morning
1
Business owners put homes on line to meet debts
Company directors are being forced to refinance the family home to meet debts and ongoing expenses amid the deteriorating economic downturn.
2
Lake Resources slashing staff, selling projects
Lake Resources will shed most of its senior executive team and slash its global workforce for the second time in three months.
3
Hick joins Evolution after fleeing Fortescue
Former Fortescue chief executive Fiona Hick, who quit the Andrew Forrest camp last year after less than six months in the top job, has joined Evolution Mining’s board.
Editor's picks
WEALTH
Cost of living leads to spike in mortgage extensions
Mortgage holders are asking banks to push out the life of their home loan – saving money in the short term but building very big debts for the future.
JAMES KIRBY
MARGIN CALL
Burns spills the beans on vegie life
Now he’s in a relationship with Victorian Animal Justice Party MP and noted vegan Georgie Purcell, federal MP Josh Burns has to give up eating meat, doesn’t he?
By YONI BASHAN
TECH REVIEW
Sonos aces its foray into headphones
It’s a crowded market, dominated by Apple, but that hasn’t stopped Sonos from delivering a sonic boom in its first attempt at making headphones.
By JARED LYNCH
Commentary
‘Election uncertainty’ the next hurdle for global markets
By DAVID ROGERS
Markets Editor
After another surprisingly resilient quarter for Western economies and markets, political uncertainty is increasingly seen as a hurdle.
Dataroom
→ Jarden rebounds with $10.8m profit
The Australian arm of trans-Tasman investment bank Jarden has moved out of loss-making territory to report a $10.8m net profit for its Australian arm for the year to March 31.
→ MMA Offshore and the $100m that got away
A billionaire holder of MMA Offshore will back the current takeover bid for the company, but has 100 million reasons to be cranky.
→ Beleaguered Beston to update on financing and milk supply
Beston Global Food company, which has a debt load which dwarfs its valuation - largely held by NAB - is poised to update the market on its funding and milk supply.
 
 
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