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The Australian Business Review
 

Good morning,

Australia’s youngest billionaire Ed Craven is offering sign-on bonuses of up to $100,000 as he raids the country’s biggest tech companies, including Atlassian and Canva, for talent to fuel “hyperscale growth” across his cryptocurrency and gambling empire.

Passive strategies at the nation’s biggest super funds are outshining the more popular balanced and growth options, heaping pressure on active managers who have staked their reputations on bulking up in-house investment teams.

Aspirational cattle baron Sam Mitchell is facing mounting pressure from creditors with former staffers taking his WealthCheck company to the Fair Work Commission as the business figure moved from a luxury Bondi rental to his house in San Diego.
Perry Williams
Business editor
The markets


Making news this morning
1
Dan Murphy’s reaches for AI to bolster price guarantee
Dan Murphy’s will soon be able to change the price of items at the press of a button, as the liquor giant uses new tech to bolster its ‘lowest price’ credentials.
2
Santos locks in carbon credits for $5.7bn LNG project
Santos has acquired enough carbon credits for its soon-to-be ready new $5.7bn Barossa LNG development to meet tough new emission reduction targets.
3
Family building firm put in liquidation
A family-owned construction company that collapsed in February has been formally placed into liquidation by creditors as another builder has stepped in to complete more than 100 projects.
Editor's picks
MARGIN CALL
Gill finally settles the jobs debate
The ex-AFL boss finally has a new job. Before taking the Tabcorp role though, he had a very interesting lunch. And for now he has the backing of Racing NSW boss Peter V’landys.
By JOHN STENSHOLT
AVIATION
Australia added to China’s visa-free travel list
China’s inclusion of Australia on its visa waiver program has been hailed by airport and tourism leaders as an important development.
By ROBYN IRONSIDE
TELECOMMUNICATIONS
Aussies want faster internet but don’t want to pay for it
A cost of living crisis and a ‘disconnect’ between using more data and paying a larger bill is severely limiting the ability of the telco sector to grow, according to Nokia’s Andrew Cope.
By JOSEPH LAM
Commentary
Veteran’s warning for unsuspecting investors
By DAVID ROGERS
Markets Editor
There are ‘plenty of traps for the unwary’ as investors pile into private credit’s honeymoon phase, says Perpetual managing director of credit and fixed income Michael Korber.
RBA unlikely to further tighten despite sticky inflation
By PAUL BRENNAN
The Reserve Bank is struggling to bring demand and supply into balance in its fight against inflation.
Dataroom
→ Integral-Capitol merger proposal bodes well for Healius
The value that Integral Diagnostics has put on Capitol Health will help buyers of the Healius diagnostic imaging unit determine what it is really worth.
→ Ex-Lendlease boss bets on Star as Tabcorp appoints CEO
There’s speculation that ex-Lendlease boss Steve McCann had his sights beyond Tabcorp to Star Entertainment, but industry insiders say former AFL boss Gillon McLachlan is also a safe choice.
→ Hopes of Ampol buying EG’s Australian portfolio fade
Expectations that Ampol will buy EG Group’s portfolio of Australian services stations are fading with reports circling that the target is in terrible shape.
 
 
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