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The Australian

Good morning,

Metcash CEO Doug Jones has savaged the Albanese government for its attack on the supermarket sector and repeating the unfounded accusation that grocers are profit gouging, which he describes as “inflammatory language” designed to win votes, and a “gross oversimplification” of how the business works.

Meanwhile, global streaming firm DAZN has formally acquired News Corp’s Foxtel in a $3.4bn deal that will reshape Australia’s media and sport landscape, following approval from the Foreign Investment Review Board.

And chief business correspondent Perry Williams reveals the three frontrunners who have emerged in the battle to replace Santos chief executive Kevin Gallagher amid expectations the long-serving oil and gas boss may step down once a $6m golden handcuff deal expires at the end of 2025.

Vesna Poljak

Business editor

The markets

Making news this morning

1

ASIC wades into WiseTech affair

Chair Joe Longo has told a conference it’s troubling that personal lives are having an effect on public confidence in corporate governance.

2

Hedge fund boss takes Rio to task over dual-listing structure

As Rio Tinto shareholders prepare to have their say on leaving the London listing behind, activist hedge fund Palliser Capital has accused the mining giant’s board of running scared.

3

AusSuper leads the way in funds growth

Australia’s largest superannuation fund, AustralianSuper, grew by more than any of its nearest rivals during the past financial year, data from The Conexus Institute shows.

Editor's picks

Sex-talk teal’s workplace vow

Nicolette Boele’s unwelcome remark should’ve been out of bounds, particularly when this budding politician has made such a point of speaking against sexual harassment in all its forms.

Palmer pulls Patriots roadshow after star speaker cancels

Clive Palmer’s latest election campaign has hit a snag as the magnate cancelled his Trumpet of Patriots national speaking tour due to a problem with his headline act.

Blackstone to check out of $2bn Sydney landmark

One of Sydney’s iconic towers, Grosvenor Place, is in play with US owner Blackstone believed to be negotiating a deal to offload it to an office heavyweight.

Commentary

Banks no longer on the nose as dividends put them back in vogue

By JAMES KIRBY

Wealth Editor

Bank stocks led the ASX sell-off since the start of the year but they are now offering fully franked dividend yields of 7 per cent, making investors sit up and take notice.

DataRoom

→	Virgin Australia angling for IPO around $750m

The listing of the carrier could be one of the largest of the year, with a value likely around $3bn.

→	NZ takeovers panel issues draft ruling on NZME battle

A draft ruling from the watchdog may complicate plans by activist investors to overthrow the NZ Herald publisher’s board.

→	Why Salter’s Star offer was always questionable

Star Entertainment’s $750m recapitalisation deal with Salter Brothers has collapsed but doubts had earlier been emerging any deal would happen.