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The Australian Business Review
 

Good morning,

The Victorian government’s $2bn venture capital fund is facing allegations that its executives threatened the former CEO of one of its investment companies “personally” before he was sacked, explosive Federal Court documents reveal.

Meanwhile, four weeks on from the latest inquiry into the Australian Securities & Investments Commission, industry and political leaders say the corporate regulator should be split but any successor must be supported in fighting financial crime.

And billionaire Kerry Stokes-backed Beach Energy was the worst performer on the ASX 200 after revealing it had racked up a $475m annual loss, was facing project delays and lower-than-expected gas reserves.
Perry Williams
Business editor
The markets


Making news this morning
1
Influx of property investors eases rental market
The country’s rental market is benefiting from more property investors looking to take advantage of price growth, but inbound migration levels will have a role to play in vacancy rates.
2
Aurizon slumps on missed earnings
Aurizon boss Andrew Harding has staked his leadership of the company on reducing the rail hauler’s reliance on thermal coal business, but analysts say the jury is still out.
3
Coal king hits back at Swiss rebellion
Bowen Coking Coal executive chairman Nick Jorss has slammed an attempt by Swiss-based fund iolite Capital to unseat him from the board.
Editor's picks
EXCLUSIVE
TPG taps into digital water meter contract
The nation’s third largest telco has landed the 10-year Victorian deal from South East Water, part of a major smart upgrade of the state’s water meters.
By JOSEPH LAM
MARGIN CALL
Rytenskild given one hour to resign as Tabcorp CEO
The betting giant’s former boss Adam Rytenskild is taking to the courts in an effort to claw back millions in lost entitlements after his hasty departure.
By YONI BASHAN
DEALS
Shellfish giant mussels into oyster outfit
Yumbah Aquaculture, backed by billionaire Pro Medicus co-founder Anthony Hall, is doubling down on oysters with its takeover offer for East 33.
By CAMERON ENGLAND
Commentary
Stockmarkets need ‘good’ economic news to drive rally
By DAVID ROGERS
Markets Editor
Ahead of US CPI and retail sales data this week, markets want signs of better economic growth or more monetary policy support to get excited again. Neither is likely in the near te...
JB’s clever E&S play
By TERRY MCCRANN
Business commentator
JB Hi Fi’s purchase of E&S will bring one of Australia’s great retail brands in head-to-head combat with bathroom and plumbing giant Reece for the first time.
Dataroom
→ Speculation continues over sale of lithium mine stake
Speculation is mounting that US-based Albemarle may be considering selling down its 49 per cent stake in the Greenbushes lithium mine to its Australian-listed partner IGO.
→ Allegro won’t bid for Rex
Suitors that could have been interested in Regional Express are understood to be sidestepping the sale process because they will not be able to match terms on a deal with government backing.
→ EQT mulls Compass Education offer
Swedish private equity firm EQT is believed to be weighing up a bid for the Advent Partners-owned Compass Education.
 
 
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