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The Australian Business Review
 

Good morning,

Commonwealth Bank whistleblower Jeff Morris has thrown his support behind the findings of a Senate report that recommended the dismantling of the Australian Securities & Investments Commission in order to lift its enforcement record and improve its culture.

Meanwhile, the Environmental Defender’s Office has suffered another blow in the ongoing fallout from its failed litigation against Santos’ 262km Barossa pipeline, after the Federal Court ordered it to hand over communications with a discredited academic witness.

And silica sand miner Metallica Minerals has unveiled a board shake-up as a hostile takeover by Wayne Swan-chaired rival Diatreme Resources continues to gather momentum.

Perry Williams
Business editor
The markets


Making news this morning
1
Review slates power distributors over severe outages
A report into the response from Victorian electricity distributors following February’s severe wind storm has laid the groundwork for regulatory change, with AusNet singled out.
2
China demand to drive copper higher
Copper and iron ore prices are firming up amid growing expectations of fiscal stimulus from China and monetary policy stimulus in the US.
3
Abusive users to be banned from dating apps
The federal government says that, for the first time, popular dating apps will be regulated in order to stamp out gendered violence and other harm on their services.
Editor's picks
PROPERTY
Melbourne offices find buyers as capital returns
More than $600m worth of offices have sold but buyers are demanding a discount before buying into the Victorian capital.
By BEN WILMOT
MARGIN CALL
Vatican losing faith in university
A deepening crisis is engulfing the Australian Catholic University, its finances in a parlous state and enrolments dropping from a vertiginous height under vice-chancellor Zlatko Skrbis.
By YONI BASHAN
2001 report: Ansett airline heads for end of the runway
It was a long process but Ansett Australia, established in 1935, was unable to continue operating despite a tie-up with Air New Zealand, which many blamed for the airline’s continual losses. Attempts to reboot Ansett eventually failed in 2002.
By STEVE CREEDY, MICHELLE GILCHRIST, JEREMY ROBERTS
Commentary
Big ask to justify Aussie bank valuations
By DAVID ROGERS
Markets Editor
There are some ways to justify sky-high valuations on Australian bank shares but that doesn’t mean they’re a buy.
Dataroom
Gold set to shine some more
Citi analysts have come up with a new investment thesis for gold, which they say explains price movements over more than four decades and predicts further upside over the next year or so.
Suitors get a read on Booktopia
Kogan.com and Brisbane’s QBD Books have already flagged their interest in the ‘urgent’ sale process for collapsed online bookseller Booktopia
Pizza off the menu for ASX100
Domino’s Pizza could face being turfed out of the ASX100 in the September rebalance.