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The Australian Business Review
 

Good morning,

One of the biggest players in Australia's hotel market, funds management and advisory house Salter Brothers, is pushing ahead with an ASX listing of its portfolio valued at up to $2bn, as it continues to bulk up its holdings here and overseas, according to sources.

Meanwhile, after presiding over a mostly disappointing performance by Tabcorp in recent times, Bruce Akhurst will step down as chair of the wagering and media company after next month's AGM, handing the baton to Brett Chenoweth.

And Santos is closing in on identifying who funded the failed bid to block a key part of its $5.7bn Barossa LNG development, with the Environmental Defenders Office poised to deliver the next tranche of documents today.

Perry Williams
Business editor
The markets


Making news this morning
1
Virtical offloads The Republic as plans wound back
Embattled developer Virtical has sold off The Republic Hotel in the heart of Sydney’s CBD for about $32m, putting an end to its ambitions of redeveloping the famed site.
2
The biggest roadblock to buying a home has changed
High house prices are no longer the biggest barrier to home ownership, as buyers seek new ways to get a foot in the door.
3
Expanded powers: ASX in sights of regulators
The ASX will face closer scrutiny from ASIC and the RBA after parliament passed new laws to regulate the market operator, particularly in a crisis.
Editor's picks
MARGIN CALL
Medical skirmish not so healthy
Almost the entire board of the Heart Research Institute will be called to give evidence in a contract dispute with ex-head of cardiovascular research, Professor Shaun Jackson.
By YONI BASHAN, NICK EVANS
RETAIL
Coles opens new fulfilment centre in $1.4bn shopping upgrade
Coles boss Leah Weckert has overseen a $1.4bn investment in robotic distribution facilities and fulfilment centres but believes the retailer’s balance sheet is strong enough to do more.
By ELI GREENBLAT
TRAVEL
Hip-pocket pain of being a long distance footy fan
Airfares have predictably jumped ahead of footy finals this weekend with diehard Port and Cowboys fans the hardest hit.
By ROBYN IRONSIDE
Commentary
Future Fund goes too soft keeping corporates in line
By ERIC JOHNSTON
Associate Editor
Not only is the $290bn fund reluctant to put real heat on listed companies, it is painfully late to the proxy party.
Dataroom
Macquarie Asset Management on buying spree in New Zealand
Fresh from striking a $24bn deal to sell the Airtrunk data centre giant it co-owned, Macquarie Asset Management is understood to have turned its attention to New Zealand
Roc stays abreast of potential $1bn chicken play
Poultry business ProTen is on the block through its owner Aware Super and Roc Partners is in prime position to snap it up for up to $1bn.
Cuscal IPO slated for November
Investors are being talked through the reasons why they should buy shares in a Cuscal float in one-on-one meetings.