Good morning,

Westpac boss Peter King has warned that a two-speed economy has emerged in the fight against inflation, with younger Australians struggling with cost-of-living pressures while older cohorts continue to spend.

Meanwhile, new ASIC documents reveal Bonza’s administrators Hall Chadwick were asked by the airline’s owner to provide a financial review of the company and advise on a potential acquisition proposal five months ago.

And Qenos was staring at an annual net loss of $659m when its Chinese owners sold the chemicals maker to a property developer, leaving administrators McGrathNicol just $18m in the kitty to run the company, court documents show.

Five things to know this morning

1. ASX to rise ahead of RBA decision after Wall Street gains. ANZ interim results in focus. Major corporates in focus at three-day Macquarie conference.
2. The ACCC says as part of its $120m settlement deal, Qantas has admitted that senior managers knew its systems were not capable of informing customers in a timely fashion about cancelled flights, resulting in the sale of tickets on flights that did not exist.
3.  Former prime minister Julia Gillard will chair a new $2bn energy transition fund backed by David Di Pilla’s HMC Capital, as the merchant banker’s galaxy of investment funds push into the renewables sector.
4. Simon Mawhinney, managing director of funds manager Allan Gray, the largest shareholder in McGuigan wines owner Australian Vintage, has called the sudden departure of the winemaker's CEO Craig Garvin a disappointing development.
5. Brisbane-based renewable energy firm Redback Technologies, which has received millions of dollars in taxpayer funding, has called in administrators after racking up losses of more than $7m over three years.