Email
To view this email as a web page, go here.
The Australian Business Review
 

Good morning,

Corporate veteran Richard Goyder has copped a significant protest vote against his re-election to the Woodside Energy board but says he is more energised than ever to chair the oil and gas heavyweight as it navigates energy transition challenges.

An ANZ pilot project could reshape the mortgage landscape by allowing the banking giant to utilise new generation industry analytics to pinpoint the wealthiest hotspots in the country and offer the richest borrowers exceptional deals.

Ousted Star Entertainment boss Robbie Cooke told the Bell II inquiry that he left the troubled casino operator after the NSW regulator accused him of “being arrogant, not listening and too slow”.  

Perry Williams
Business editor

The Markets

Five things to know this morning

  1. ASX is closed for Anzac Day after Wednesday's flat close. On Wall Street, Tesla gained 12 per cent as investors looked beyond its 55 per cent quarterly profit drop. Meta, which revealed record revenues after market close, is pacing for a blow in the next trading session as afterhours shares slumped 12 per cent on rising AI costs.
  2. A parliamentary committee has called for the government to give regulators the power to intervene at the ASX after the market operator torched more than $250m on its ill-fated CHESS replacement program.
  3. Economists expect interest rates to remain higher for longer after stronger-than-expected March quarter inflation data surprised financial markets, prompting traders to price out bets of an RBA cut this year.
  4. Santos is a step closer to finding out who bankrolled the Environmental Defenders Office’s failed campaign against its $5.3bn Barossa gas project, after the Federal Court ordered communications between the EDO and four activist groups be handed over.
  5. Furniture retailer Nick Scali will raise $60m in capital to fund its acquisition of loss-making UK-based Anglia Home Furnishings which it hopes to return to profit in 18 months.
COMMENTARY
Star Chamber descends into a trial about office politics
A high-stakes inquiry into Star’s Sydney casino has failed in its efforts to cast former CEO Robbie Cooke as its villain.
ERIC JOHNSTON
MARGIN CALL
Gillon ready to rekindle V’landys rivalry
Gillon McLachlan has apparently turned down an opportunity to run Tabcorp because he wants to run Racing Victoria – to take on old footy code rival Peter V’landys in NSW.
By YONI BASHAN, CHRISTINE LACY
DATAROOM
MinRes presses on with sale of Onslow haul road
MinRes boss Chris Ellison sounds confident of getting $1bn from the selldown of the Onslow Iron dedicated haul road but will he actually go through with it?
By BRIDGET CARTER
COST OF LIVING
Money sacrifices to protect your household
Cutting costs has been a necessary mission for millions of homes across Australia, but some cutbacks are potentially dangerous.
By ANTHONY KEANE
COURTS
Magnis shareholder guilty of assaulting journalist
A disgruntled Magnis Energy Technologies shareholder has pleaded guilty to an assault charge following an incident at the company’s AGM last November.
By PAULINA DURAN