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The Australian Business Review
 

Good morning,

The federal government’s Climate Active Carbon Neutral labelling program has been slammed in a Senate inquiry for promoting greenwashing and misleading customers, with the ACCC unable to certify the trademark because of unclear rules.

While the inflation beast may be tamed, for now, simmering global tensions and a stalled homebuilding market will keep the RBA from starting its rate-cutting cycle before November, a new Deloitte Access Economics report says.

And Star Entertainment chief risk officer T Scott Saunders has told the Bell II inquiry that a $3.2m fraud committed against the company could occur again because the troubled casino operator hasn't resolved its cultural issues.

Perry Williams
Business editor

The Markets

Five things to know this morning

  1. ASX to track gains post Wall Street's tech rally ahead of earnings data from Alphabet, Meta and Microsoft later this week. Tesla sank a day before its quarterly update after more price-cutting in China. Star inquiry continues.
  2. PwC Australia is still under review by the Department of Finance over last year's tax scandal revelations, as the department mulls further reforms to manage contracts and consultants working with government, a parliamentary hearing was told.
  3. The nation’s largest house builder is now in “clear waters” after a rocky ­period, but Metricon chief executive Brad Duggan has called for structural changes to attract more workers into the sector and ensure its viability.
  4. The Central Bank of Ireland is threatening to suspend CurrencyFair’s payment services for 12 months, in a further blow to the foreign exchange network as it battles alleged fraud and regulatory scrutiny in Australia.
  5. Lenders have seized control of a $25m Bondi beachfront property held by Sydney deal-maker Jon Adgemis, but the pub baron insists the debt upset is not set to stop a mooted rescue deal for his Public Hospitality Group.
COMMENTARY
The big lessons for Star from Macquarie’s risk hound
There’s one major cultural reason why the casino operator has found itself so deeply in trouble.
ERIC JOHNSTON
MARGIN CALL
Rich-lister’s rethink on teal support
Naomi Milgrom lavished a substantial donation on Climate 200 and the teal independents during the 2022 election campaign, but it seems that tap’s about to be turned off.
By YONI BASHAN
EXCLUSIVE
Big change coming to international Qantas flights
The airline says it is taking advantage of an inflection point in global satellite communications, which means it can now offer Wi-Fi on international flights.
By JARED LYNCH
DATAROOM
Wesfarmers runs ruler over Ramsay Health Care
The country’s largest private hospital operator could be in the crosshairs of one Australia’s blue chip stocks, Wesfarmers.
By BRIDGET CARTER
WEALTH
Borrowing for shares is back in front of ‘mum and dad’
After a sharp decline, ‘gearing into shares’ is set to return through the unlikely doorway of index funds.
By JAMES KIRBY