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The Australian Business Review
 

Good morning,

ANZ is again in corporate regulator ASIC's sights – this time over allegations its retail bank incorrectly slugged almost 20,000 dead customers’ ­accounts with fees and failed to fix glaring system deficiencies in a timely manner.

Meanwhile, after a drawn-out legal battle, Qantas can finally draw a line under an ugly episode in its history with the carrier agreeing to pay $120m compensation to workers whose jobs were illegally outsourced at the height of the Covid pandemic. 

And the relaunch of the MLC brand following a five-year absence from the market will be one of the major focuses of ASX-listed wealth management company Insignia in the next 12 months, CEO Scott Hartley tells The Australian’s CEO Survey 2025.

Perry Williams
Business editor
The markets


Making news this morning
1
BlueScope says NSW lost out to WA on big green iron investment
BlueScope Steel wanted to build a major green iron pilot plant at Port Kembla but lost out to WA after the iron-ore rich state put up a $75m assistance package.
2
What the Santa rally means for Australian stocks
The mid-December trough in Aussie shares suggests the Santa Claus rally has arrived right on cue.
3
MA Financial quenches thirst with $66m round of pub purchases
The pub market is running almost as hot as the weather, with a sector heavyweight buying three Queensland watering holes.
Editor's picks
EXCLUSIVE
UK company to take charge of Aussie airport flight ‘slots’
An Australian company responsible for co-ordinating valuable flight slots at Sydney airport will be replaced by a UK company owned by British airlines.
By ROBYN IRONSIDE
PROPERTY
Economic brakes to slow runaway house prices in 2025
After several years of rapid property price increases, REA Group expects the housing market will moderate during 2025 to just 4 per cent growth.
By MACKENZIE SCOTT
MINING
BHP driver ‘stressed and sleeping with lights on’ when train crashed
Two white-tailed spider bites and sleeping with the lights switched on have been blamed for a train crash which sparked a major safety overhaul by BHP.
By BRAD THOMPSON
Commentary
Ex-Nine CEO is the media change agent the ABC needs
By ERIC JOHNSTON
Associate Editor
If former Nine boss Hugh Marks can manage the ABC’s cultural maze, the broadcaster will emerge as an entirely different organisation.
DataRoom
Chairman the only bidder for Mosaic Brands
Speculation is mounting that Mosaic Brands has received just one credible bid – from its chairman, Richard Facioni.
Buyout or equity raising likely for Lifestyle Communities
The $1bn listed retirement living operator Lifestyle Communities is under watch for a buyout or an emergency equity raising.
Radiology giant’s sale pushed into next year
Despite Macquarie Asset Management interest, the sale of Australia’s biggest radiology company, I-MED, will be pushed into the new year.

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