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Good morning,

Rex co-founder Michael Jones and some aviation heavyweights hatched a plan to buy the failed airline last September for $160m, but were “rudely rejected” by the company’s largest shareholder Lim Kim Hai, The Australian can reveal

Meanwhile, all the headlines about former Qantas CEO Alan Joyce and his shrinking bonus should not hide the fact that the airline’s failings happened on the watch of outgoing chairman Richard Goyder, writes columnist Tansy Harcourt.

And would-be cattle baron Sam Mitchell’s key company allegedly traded while insolvent for almost nine years, a liquidators report has warned, with an audit of his company’s accounts revealing missing cars and huge cash transactions leading up to its collapse.
Perry Williams
Business editor
The markets


Making news this morning
1
Win for Fortescue in private eye battle
Fortescue’s private investigators followed former employees for weeks but a court ruling means the iron ore giant won’t have to reveal details of the company’s brief to the PIs.
2
NSW renewable zone wins green light for 4.5GW project
The federal government has granted planning approval for NSW’s Central-West Orana renewable energy zone, a key plank of the state’s ambition to add green power to the grid.
3
Failed Tritium sold to Indian EV charging giant
Four months after collapsing with debts of more than $500m, Brisbane-based EV fast-charger manufacturer Tritium has been sold to Indian giant Exicom.
Editor's picks
MARGIN CALL
Sherman Ma’s backdoor takeover bid fails
Liberty Financial founder Sherman Ma’s marathon effort in the courts to gain control of Australia’s largest aggregator Connective came to a painful and costly end on Thursday.
By YONI BASHAN
EXCHANGE
The risks of being hitched to the yen carry trade
Despite bargain hunting in stocks this week, global markets continue to be driven by the outlook for the short Japanese yen ‘carry trade’ – and that’s not healthy.
By DAVID ROGERS
LUXURY PROPERTY
$10m slashed off Crown Barangaroo penthouse asking price
Sydney’s swankiest apartment is back on the market, with a high-profile Luxe Listings agent dropped and the new team tasked with selling the six-bedroom unit spending $500,000 on staging.
By LISA ALLEN, BEN WILMOT
Commentary
The five big mistakes inside the Qantas boardroom
By ERIC JOHNSTON
Associate Editor
A forensic look at Qantas’s failings finds the overriding theme was a dominant, long-term CEO who called all the shots in the face of a weak board.
Hawkish RBA governor should brace for storms to come
By JAMES GLYNN
Senior Reporter, The Wall Street Journal
The governor of Australia’s central bank remains deeply worried about inflation.
Dataroom
→ South Korean investors turn to Australia as US disappoints
South Korean pension funds and conglomerates have emerged as acquirers of commercial real estate and infrastructure in the US in recent years.
→ Fujitsu poised to offload data centre portfolio in $1bn deal
Japan’s Fujitsu is believed to be selling its portfolio in Australia in a deal that could be worth somewhere between $500m and $1bn.
→ It’s time to get on the Kinetic bus
The owners of the bus company Kinetic are about to fire the starting gun on a sale process, with talk in the market that the price aspirations are close to $4bn.
 
 
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