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The Australian
 

Good afternoon,

Star Entertainment shares plummeted 33 per cent on Thursday to a market capitalisation of $545m - less than the value of its assets - after it revealed it had spent a significant proportion of its cash reserves. The troubled casino operator's biggest shareholder told The Australian the company could either “go bankrupt or be bought”.

Meanwhile, Rio Tinto has cleared another big hurdle in its near-$11bn takeover of Arcadium Lithium, with US regulators declaring they have no national security concerns over the deal.

And be sure to check out the Aussie tech companies making waves at the world's largest electronics show in Las Vegas this week, which includes one Sydney-based company which has made a deal with a major American airline.


Perry Williams
Business editor
The markets


Commentary
Burning cash: Star’s future can be counted in months
By ERIC JOHNSTON
Associate Editor
New boss Steve McCann has his work cut out on a rescue mission of the casino, but with a hostile regulatory regime, he is running out of options.
Latest news
ASIC details depths of Rex’s alleged deception
Rex’s board knew ticket sales were ‘bewilderingly bad’ and losses were mounting but failed to let investors know for months, the corporate regulator has alleged.
By ROBYN IRONSIDE
Fewer new LNG commitments this year, says forecaster
There will be fewer global LNG final investment commitments this year, which should ease the concern of giants like Woodside and Santos of a global glut, a respected industry observer says.
By COLIN PACKHAM
Telstra testing text services with Musk’s Starlink satellites
The nation’s largest telco is working with Elon Musk’s Starlink to let rural Australian customers send text messages via satellites.
By JOSEPH LAM
Family-owned winery ready to pounce
Taylors Wines has pulled out of talks to acquire labels from Treasury Wines, but remains on the hunt for acquisitions amid a consolidation of the industry.
By GIUSEPPE TAURIELLO
Move over Tesla, Chinese-built BYD now Australia’s preferred EV
Chinese manufacturer BYD, which entered the Australian car market just two years ago, has taken over from Tesla as the vehicle EV buyers are most likely to consider.
By JOSEPH LAM

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