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The Australian Business Review
 

Good morning,

Queensland government ministers are facing new allegations in the Federal Court that safety managers at one of the state’s largest state-run power stations quit over cost cutting before it blew up in 2021, sending electricity prices soaring. 

Meanwhile, Virgin Australia promises “better value and better choices” for travellers if a $600m-plus deal with Qatar Airways is green lit by the federal government, allowing the carrier to lower its cost base.

And sleep apnoea devices giant ResMed has revealed an ambitious strategy to broaden product lines and notch up high single-digit revenue growth as it shrugs off the potential impact of a wave of new weight-loss drugs coming on to the market. 



Perry Williams
Business editor
The markets


Making news this morning
1
Miners ‘in need of more projects to meet net zero’
Consulting giant EY says more mines will need to be built in the next 30 years than at any stage in history if Australia wants to meet its ambitious net zero targets.
2
Telcos are getting slower at fixing customer issues: report
It is taking Australian telcos longer to fix customer issues despite a drop in the number of service complaints.
3
Mosaic axes brands and outlets to avoid its collapse
Five brands, including Rockmans and Autograph, and 200 outlets will be closed permanently by embattled retailer Mosaic Brands as it seeks to avoid a financial collapse.
Editor's picks
ECONOMY
China stimulus spurs growth target: ANZ
China should come close to hitting its 5 per cent growth target for the year following the latest wide-ranging stimulus measures, experts say.
By JOYCE MOULLAKIS
MARGIN CALL
Helfie’s selfies in TGA’s spotlight
Promoted as Australia’s next health technology unicorn, the startling claims of artificial intelligence start-up Helfie.ai could come unstuck in record time.
By NICK EVANS
AGRICULTURE
Olam out of Namoi Cotton race after rival’s higher bid
Singapore’s Olam Agri has withdrawn from the race to acquire Australia’s largest ginning business on the back of a big offer from a rival bidder.
By GIUSEPPE TAURIELLO
Commentary
How Qatar’s Virgin stake will change aviation
By ERIC JOHNSTON
Associate Editor
Cashed-up Qatar will likely use Virgin as cover to get more flights into Australia, which ultimately means serious competition for travellers. But what does it mean for Qantas?
Qantas buckles in for a fresh fight
By TANSY HARCOURT
Senior reporter
Qantas has posted record annual profits but now it faces a scrap from its main competitor, Virgin Australia, thanks to the might of Qatar Airways.
DataRoom
Growthpoint in $131.7m block trade for Dexus Industria REIT
Investment bank Jarden is on the ticket for the real estate trade.
Surprising support for Sigma deal
The ACCC now appears certain to approve an $8.8bn merger between Sigma and pharmacy giant Chemist Warehouse, subject to some easily met conditions.
Brookfield joins queue of interest in Singapore Post assets
Brookfield has joined the list of heavyweight private equity firms vying for Singapore Post’s $1bn portfolio of Australian assets.

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