Email
To view this email as a web page, go here.
The Australian Business Review
 

Good morning,

The sacked chief executive of Australian Vintage, Craig Garvin, is considering legal action over his shock termination which has left major investors bewildered and threatens to derail merger talks with Accolade Wines.

Meanwhile, a lawsuit filed in the US has described the Miami-based owner of grounded Australian airline Bonza as “a house of cards on the brink of collapse” and accused the firm of a multimillion-dollar fraud.

And fixing Sydney’s Star casino is going to be a far harder task than Crown Barangaroo, says gaming financial monitor Kroll, largely because the venue remains open and has more than 1400 gaming machines.

Perry Williams
Business editor

The Markets

Five things to know this morning

  1. It’s shaping up as an eventful week on the local bourse with bank earnings reports, an RBA rate decision and a potential bidding war for BHP-target Anglo American to keep investors on their toes.
  2. AGL Energy is running the ruler over OVO Energy’s technology platform, sources have told The Australian, as the power company attempts to sharpen competition with the likes of rival Origin Energy.
  3. Sticky inflation has pushed out expectations for rate cuts but keeping rates on hold for too long is a key risk to watch, warns bond veteran Tim Van Klaveren
  4. Work-related tax deductions and rental property claims will be at the top of the Australian Taxation Office’s hit list this year. 
  5. Atlassian is helping accelerate pizza deliveries for Domino’s and product development for Breville as companies around the world switch to the Australian tech giant's software to improve efficiencies and customer service.
COMMENTARY
Why the economy is about to get some hard truths
The RBA, the banks and big business are threatening to upstage federal Treasurer Jim Chalmers’ impending May budget.
ERIC JOHNSTON
DATAROOM
Ramsay absent from business conference
Although the Macquarie Australia Conference gets under way this week, it’s understood Ramsay Health Care has withdrawn.
By BRIDGET CARTER
COMPETING BIDS
Superyacht-style mansion aground as site fails to land buyer
It is situated in the blue-ribbon Melbourne suburb of Toorak and has approval for a five storey ‘superyacht-style’ mansion, but the St George’s Rd site only received one bid and th...
By JONATHAN CHANCELLOR
WEALTH
What the ATO will target in your 2024 tax return
Hundreds of thousands of tax returns had mistakes in them last year, and the ATO is sharpening its focus on three key areas.
By ANTHONY KEANE
MEDIA
Meta ‘ranks criminals ahead of journalists’
Assistant Treasurer Stephen Jones has accused the Mark Zuckerberg-owned tech behemoth of being more sympathetic to the criminal world than a free press.
By JAMES MADDEN