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The Australian

Good morning,

Billionaire heiress Heloise Pratt has accused ex-husband Alex Waislitz of taking more than $21m in loans to buy a luxury Melbourne apartment and also use funds to purchase property for his fiancee and back companies connected to her music career, new court documents in the ongoing legal stoush reveal.

Meanwhile, Australia’s supermarket sector lost as much as $500m in sales from the health, beauty and home products categories to a gaggle of retailers such as Chemist Warehouse, Amazon, Bunnings and Temu, internal Coles analysis obtained by The Australian reveals.

And the sorry financial state of the Whyalla steel mill was laid bare through a creditors’ meeting Monday, but it also painted a stark picture of how close to the edge Sanjeev Gupta is running his GFG businesses in Australia and possibly across the world, writes columnist Eric Johnston.

The markets

Making news this morning

1

Keep falling Star’s doors open if you want help, says Qld Premier

The Queensland government is preparing for the likely collapse of Star Entertainment Group, saying administrators will need to keep its casinos open if they are to get any state assistance.

2

AustralianSuper cuts more ties with troubled MUFG

The nation’s biggest superannuation fund has severed ‘member facing’ operations with administrator MUFG and will bring advice in house in order to repair its reputation.

3

Finance sector’s gender pay gap exposed

Women dominate Australia’s finance workforce but earn 22.3 per cent less than men on average. See which firms have biggest disparity.

Editor's picks

Pitt falls: The unexplained exit of an IT star

Founder syndrome or management style? You don’t have to hunt far online to get a feel for how some of software company Buildkite’s employees felt about their now departed boss.

‘Dark clouds have been lifted’: On the ground in Whyalla

Around Whyalla, some businesses with links to the steelworks had been down to their last few thousand dollars in the bank but government intervention has put a pep back in their step.

By CAMERON ENGLAND

Is this the best phone you can buy under $500?

Samsung has followed Apple, unleashing its artificial intelligence product across its cheaper devices as competition in the smartphone market intensifies.

Commentary

Does a change of course beckon for Hrdlicka?

By TANSY HARCOURT

Senior reporter

Vanessa Hudson last week released one of Qantas’ best ever results and Virgin is about to reveal record earnings. So what does the future hold for the boss of our second largest ai...

Resources Minister King must abdicate

By SAUL KAVONIC

Madeleine King must resign. She has been the most ineffective resources minister Australia has seen in a generation.

DataRoom

→	Canadian media tycoon buys major stake in NZME

Could James Grenon’s move to buy 9 per cent in New Zealand’s largest publisher be the start of something big?

→	Medibank takes full control of ‘award-winning digital platform’

Health insurer Medibank has purchased a 100 per cent interest in healthcare technology business Medinet.

→	Ramsay Health Care sales news sparks debate on fair value

Ramsay Health Care’s announcement last week that an investment bank was weighing sale options for its Europe arm has raised debate about its true value.