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The Australian Business Review
 

Good morning,

Fortescue’s green energy arm has racked up more than $2bn in losses over the past four years with little in the way of commercial returns but chairman Andrew Forrest is standing firm, with no plans to change the company's energy strategy.

Meanwhile, troubled casino operator Star Entertainment Group was warned last year, months before the second Bell Inquiry was announced, that it lacked expertise to push through needed ­remediation, a newly released report reveals.

And while economic issues and inflationary concerns continue to dog the outlook for news listings on the ASX, a report from HLB Mann Judd has found the 13 companies that hit the boards in the first half rewarded investors with an average increase over the listing price of 13 per cent by June 30.

Perry Williams
Business editor
The markets


Making news this morning
1
Santos carbon capture project ‘in final stages’
Santos says its $335m Moomba carbon capture and storage project, which promises to help in the transition to a net zero economy, is in the final commissioning stage.
2
‘Relief rally’ boosts Dusk, Accent Group
Sneakers and candlemakers are the latest retailers to report a challenging trading environment in the run-in to reporting season.
3
Cbus brushes off concerns over CFMEU links
The $94bn industry super fund, which paid $1.25m to the CFMEU in 2023, says it has an ‘unwavering’ focus on protecting workers’ retirement savings.
Editor's picks
LEADERSHIP
Larry Kestelman: what it means to be an Australian
The businessman and National Basketball League owner wants to start a conversation about Australia’s values and identity, inspired by the 60th anniversary of The Australian.
By JOHN STENSHOLT
MARGIN CALL
ACMA’s casino claims not a sure thing
The hall monitors at ACMA are talking a good game about their supposed crackdown on illegal online casinos but it seems the wheels on the gaming sites are still spinning.
By YONI BASHAN
COMMERCIAL PROPERTY
Robur Tea House development gets heritage green light
A revamped design will keep key elements of the historic complex and open the door for another top global hotelier to make its way to Melbourne.
By BEN WILMOT
Commentary
Time for the RBA to ‘rip the band-aid off’?
By DAVID ROGERS
Markets Editor
The Reserve Bank is again likely to consider the case for an interest rate hike in August after Australia’s labour force data showed the jobs market remains ‘relatively tight’.
Hike on hold as labour market teeters
By TERRY MCCRANN
Business commentator
The RBA’s next move appears all but certain, but the latest jobless data shows how keeping a lid on both inflation and layoffs remains a delicate balancing act.
Dataroom
Reduced stake in Europe on Ramsay prescription
After Ramsay Health Care’s European subsidiary refinanced its debt this week, the next step could be a move to offload a stake in the France-based group, according to sources.
Australian Meat Group on the block
Australian Meat Group is up for sale in a process which could generate as much as $450m for its Melbourne-based owner, Joe Catalfamo.
Buyers poised to lob offers for childcare giant
The $1bn sale process for Guardian Early Learning is understood to be well and truly under way, as parties get set to lob first round offers next week.