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The Australian Business Review
 

Good morning,

Star Entertainment should not be considered suitable to hold a ­casino licence and the appointment of the external manager needs to be extended indefinitely until the under-pressure operator shows it can change its ways, a confidential submission to the explosive Bell inquiry reveals.

The Albanese government is leaving all options on the table to rescue Rex – including an equity stake in the airline or a cash bailout – but is warning it won’t give away “millions of dollars” of taxpayer funds without having a say in its future.

As Australia grapples with uncomfortably high inflation, visiting Nobel laureate and former chief economist of the World Bank, Joseph Stiglitz, said central banks led by the US Federal Reserve were “foolish” to lift interest rates as much as they did as inflation soared after Covid-19.

Perry Williams
Business editor
The markets


Making news this morning
1
Qatar on runway to rescue Rex?
Could Rex’s failure provide Qatar Airways another chance to expand in Australia? Buying a stake in Virgin would free up the airline to take over the regional carrier and protect jobs.
2
Why there’s no FOMO in Rio’s approach to mega-deals
The global miner is not afraid of jumping back into the deal pool, but it has its own story to tell.
3
The firms with ‘no intention’ of meeting climate targets
After Air New Zealand axed its ambitious carbon targets a new study reveals almost a third of Aussie companies aren’t aiming to meet climate goals, with 40pc-plus yet to begin decarbonisation.
Editor's picks
MARGIN CALL
Holgate’s express cost cutting delivery
Aggressive cost-cutting and job losses have already begun at Christine Holgate’s Team Global Express in the wake of its ugly financial losses posted this week.
By YONI BASHAN
RETAIL
Even well-heeled have price limits: DJs boss
The world’s leading luxury fashion brands have slowed their ­aggressive price rises of the past few years as they discover there is a limit to how much consumers will pay.
By ELI GREENBLAT
PROPERTY
Australia is a migration nation, but for how long?
Australia is undoubtedly a migration nation, but as more countries seek to attract a smaller pool of potential migrants, we need to ensure we still attract the skilled workers needed to drive the economy.
By SIMON KUESTENMACHER
Commentary
Taiwan’s nuclear future
By GLENDA KORPORAAL
Senior writer
As it closes down its 40-year-old nuclear power plants, Taiwan is grappling with its energy future – with nuclear still a possibility to meet its growing energy demands.
The brutal reality of financial advice in 2024
By JAMES KIRBY
Wealth Editor
One in six investors on the books of financial advisers have been removed over the last year, and those who stay are paying a lot more.
Dataroom
Stokes said to have blocked Southern/ARN deal
Former Seven West Media management lobbied the board of the broadcaster to buy Southern Cross Media Group and ARN Media with its own shares but was blocked by chairman Kerry Stokes.
Goldman Sachs believed to be eyeing up Compass
Goldman Sachs Asset Management is believed to be among the parties considering an acquisition of the Advent Partners-owned Compass Education.
Westpac tipped to sell off auto loan back book
Westpac is believed to be offloading its retail auto loan back book in a move that some industry experts expect will see it wind up in the hands of a debt collection company.