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The Australian

Good morning,

Billionaire Mike Cannon-Brookes’ $40bn SunCable has been hit by a string of executive departures and redundancies, The Australian can reveal, amid growing concerns a $100m fundraising round for the ambitious renewable project has attracted only tepid investor interest.

Meanwhile, Star Entertainment's troubles continue with renewed fears the casino operator could go belly-up after the threatened collapse of a cash-generating deal to sell its Queen's Wharf precinct to Hong Kong joint venture partners.

And Cbus has labelled ASIC's allegations that the super fund's board knew about a substantial increase in death and disability payout complaints but failed to do anything about them “vague and embarrassing”.

Vesna Poljak

Business editor

The markets

Making news this morning

1

Greig dives into his second act after Bechtel

Former Bechtel boss Andy Greig has chosen to look for emerging mining success after years of building the industry’s biggest projects.

2

ASIC sues NSW coal power operator Delta

The complaint carries the potential for a hefty fine as the watchdog tightens oversight of the electricity market.

3

MinRes sells mines that earned huge royalty free kick

MinRes benefited to the tune of hundreds of millions of dollars under a royalty relief deal with WA. Now it has sold the mines involved.

Editor's picks

From rubbish to riches: Arc Ento seeks investors

The Sydney start-up has swung to a profit and is now seeking investors to expand its operations, which includes converting rubbish into an alternative for coking coal and other valuable products.

VGW panel stretching definition of independent

When there’s only one bidder, you take the best offer you can get. But Laurence Escalante’s offer for VGW still rankles with minority shareholders.

Mobile Tyre Shop secures $5m from China’s Sailun Group

As more Chinese EVs roll into Australia, Mobile Tyre Shop has secured a cornerstone investment from Sailun Group as global trade shifts in the fallout of Donald Trump’s tariff war.

Commentary

Why Star’s Brisbane deal is in tatters

By ERIC JOHNSTON

Associate Editor

Tensions had been building for weeks and Hong Kong’s sudden exit goes to the casino’s ongoing credibility problem.

‘Dramatic change’ in property market sees Melbourne plummet

By JAMES KIRBY

Associate Editor - Wealth

Melbourne’s property problems increasingly look permanent, while the Gold Coast has jumped up the property ladder, according to a new report.

DataRoom

→	Superloop upgrade puts Aussie Broadband back in crosshairs

Superloop’s soaring fortunes have reignited speculation about a potential bid for rival Aussie Broadband, with the telco now having the firepower to pursue a merger of equals.

→	Coronado Global faces inevitable sale

The cash-strapped miner is scrambling as falling coal prices push the Australian-listed miner towards potential debt covenant breaches within months.

→	RetireAustralia back on market

Suitors are circling RetireAustralia again after Scape’s $3.85bn Aveo acquisition, with the Infratil-backed retirement village operator opening its data room to potential buyers.