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The Australian Business Review
 

Good morning,

The collapse of plastics maker Qenos looms as a significant political embarrassment for Anthony Albanese, coming less than a week after the prime minister launched the government's manufacturing policy under the “Future Made in Australia” banner.

Star Entertainment has been accused of putting “profit before compliance” with former executives lining up at the second Bell inquiry to accuse ousted boss Robbie Cooke of a lack of integrity, withholding documents and disputing previously agreed decisions with his staff.

A surprise move by the sea-change shire of Mornington in Victoria to tax all new property developments has alarm bells ringing and will be watched closely by councils across Australia.

And for those in the legal field, The Australian is launching a new, free newsletter Ipso Facto with scoops, analysis and comment each week. Sign up here.

Perry Williams
Business editor

The Markets

Five things to know this morning

  1. ASX futures are signalling a positive start despite Nvidia-led falls on Wall Street. BHP's production update, Star inquiry and March jobs data in focus.
  2. Rio Tinto says it expects to see strong iron ore demand from China as exports surge from the world’s biggest steel producer.
  3. BOQ shares bounced 5.2 per cent after the bank flagged it had “bold” strategic initiatives under consideration to improve shareholder returns, as it reported a decline in first half cash profit dividends.
  4. Industrial property powerhouse the Goodman Group is in talks with global funds manager Barings about selling it an industrial portfolio worth up to $800m.
  5. Uber's former Queensland boss, who is being paid $500 an hour to appear as a witness in court, has testified the rideshare company used software to deceive regulators.
COMMENTARY
Break-up? Why our supermarkets need to get bigger
The Greens’ plan to force Woolies and Coles to shrink only plays into the hands of global gorillas like Amazon, Nestle and Unilever.
ERIC JOHNSTON
BIG DEALS
Vicinity cashes in WA retail boom as syndicators swoop
The property heavyweight has been selling down its WA assets at a time when smaller players want an exposure to the resources-rich state.
By BEN WILMOT
DATAROOM
Plenty on plate for new Ingenia CEO
Industry participants are curious about new Ingenia CEO John Carfi’s plans for the $2bn real estate company’s holiday parks.
By BRIDGET CARTER
MARGIN CALL
Ten counts the cost of legal win
Network Ten’s victory in its defence of defamation action taken against it and its star Lisa Wilkinson by Bruce Lehrmann was spectacular but may yet prove costly.
By CHRISTINE LACY
COMMENTARY
Inside Bank of Queensland’s plan to shrink to greatness
Under a new boss, the regional lender plans to get ahead by getting smaller and smarter.
By ERIC JOHNSTON