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The Australian Business Review
 

Good morning,

Global mining giant Glencore has urged the Albanese government to slow down the transition from coal to renewables and says Australia risks falling ­behind other nations in prioritising cheap energy, as Donald Trump prepares expand the fossil fuel sector in the US.

Meanwhile, Australia's largest independent supermarket chain wants authorities to step up their efforts to combat the illicit sale of cigarettes which Ritchies CEO Fred Harrison says is costing his business $50m a year.

And funds should be required by law to pay out life insurance and death benefits claims within three months, says advocacy group Super Consumers Australia as pressure mounts on the industry to drastically improve its performance. 

Perry Williams
Business editor
The markets


Making news this morning
1
David Jones owner puts iconic city store on the market
The landmark David Jones building in Bourke Street, Melbourne is being sold by South African retailer Woolworths Holdings, ending its costly move into the department store chain.
2
Westpac demands Meta does more to combat scammers
Westpac has identified groups openly offering on Facebook to sell stolen bank login information but, despite reporting the pages to Meta, nothing has been done.
3
‘True believers’ still pumping millions into green hydrogen
Green hydrogen ambitions have flickered recently, but serious money is still flowing into the sector from international investors which excites people like Paul Barrett.
Editor's picks
EXCLUSIVE
Aviation start-up’s self flying plane takes off after raising $55m
As Qantas CEO Vanessa Hudson battles a pay dispute with pilots, a Sydney-based aviation start-up has a solution that could not only trim the wages bill but also make the airline greener.
By JARED LYNCH
COMPETING BIDS
West the best again with $6m auction sale
It was a case of swings and roundabouts for a Perth apartment which on the weekend gained the nation’s highest auction price, yet it was below that paid for the same property 17 years ago.
By JONATHAN CHANCELLOR
Commentary
Vanishing rural bank branches require bold solution
By JOYCE MOULLAKIS
Senior Banking Reporter
Treasury is considering market intervention to combat the closure of regional and rural bank branches but broader consultation and more innovative solutions are needed.
Money markets predicting a longer wait for RBA move on rates
By JAMES GLYNN
Senior Reporter, The Wall Street Journal
While most economists are ­optimistic that the RBA will ease the load on homebuyers by February, money-market traders feel that won’t happen until as far away as August.
DataRoom
James Hardie tipped to raise funds for acquisition
Macquarie Group is thought to be working on two equity raisings to be announced this week, one of which could involve building products giant James Hardie and its acquisition strategy.
Cuscal’s market performance a litmus test of rates sentiment
IPO-bound Cuscal’s on-market performance is likely to be an indicator of interest rate movement sentiment, it is believed.
Wilson pulls out of Platinum stakes
WAM and Paradice Investment Management have lost interest in Platinum Asset Management, leaving one potential suit left, sources say.

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