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The Australian Business Review
 

Good morning,

Australia will need to install 16 times its current capacity of batteries and pumped hydro by 2050, while large-scale wind and solar generation capacity will have to jump six fold if the country is to deliver its transition to net zero emissions, AEMO says.

The corporate regulator has been forced into an embarrassing backdown after deeming Melbourne-based prop­erty developer Paul Chiodo a flight risk based on the travel bookings of a Swiss family with the same surname.

The federal government has approved the $1bn expansion plan of Senex Energy , owned by South Korean steel giant Posco and Gina Rinehart’s Hancock Prospecting, in a decision that will temper some concerns over medium-term gas supplies on Australia’s eastern seaboard.

Perry Williams
Business editor
The markets


Making news this morning
1
Whyalla to restart steelmaking after blast furnace breakthrough
The Whyalla steelworks should recommence normal steelmaking soon after its damaged blast furnace hit a key milestone on the road to recovery.
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Perrottet now keen to call time
Liberal strategists in NSW want former premier Dominic Perrottet to follow one-time treasurer Matt Kean out the political door so is that about to happen?
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Eat, drink and travel: consumers planning to spend up
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Dataroom
Why Sev.en abandoned its Coronado coal deal
The major shareholder of Coronado Global Resources remains a seller out of the company after an earlier divestment deal fell through.
Poor performance raises spectre of more raisings
Investors are wary that stocks which have already raised equity will be returning to them for more funding on the back of further profit downgrades.
Small cap volatility linked to exit of asset managers
Moves by global asset managers to shut operations in Australia is creating volatility among small cap stocks on the Australian Securities Exchange, say sources.