Email

Email

To view this email as a web page, go here.

The Australian

Good morning,

Industry heavyweights have demanded an emergency Victorian gas storage facility is kept open for a further ten years, arguing the state government’s intended three-year extension is insufficient as fears grow of gas shortages later this decade.

Meanwhile, a Queensland man accused of fraudulently claiming tax refunds through a sham mining operation is the nephew of Australian resources royalty and the former chair of Cricket Australia, David Peever.

And Equinor, one of the world’s largest offshore wind developers, has asked for another three months to decide whether it wants to invest in an Australian project in the Hunter region of NSW.

Vesna Poljak

Business editor

The markets

Making news this morning

1

One of these is not like the other: comparison sites fuel regulator’s ire

The corporate regulator wants to know why comparison sites are preferencing one product over another. ‘It’s a pretty cosy relationship and certainly not disclosed to consumers,’ ASIC says.

2

Lendlease’s high rise ambitions for shopping centre empire

Developer Lendlease will look to add apartments to some of the country’s top shopping malls. Find out which are being sized up for new towers.

3

CIMIC hires bank for sale of $1bn unit

The sale by the Australian-based engineering services provider will return cash back to Spanish parent company ACS.

Editor's picks

Alleged kingpin unmasked after eastern suburbs mansion raid

When armed police raided Garrett and Stephanie Jandegian’s luxury Bellevue Hill pad earlier this year, their mission was to collect evidence against Strike Force target Marios Alexandridis.

Qantas and Virgin duopoly safe as aircraft shortages ground competition

Rising costs, aircraft shortages and industry consolidation are making it virtually impossible for new airlines to challenge Qantas and Virgin’s dominance of the domestic market.

By ROBYN IRONSIDE

Child in pond leads to art lover stand-off at National Gallery

Few things get more heated than a blue within the arts crowd and a secret plan to employ, gasp, casuals instead of volunteers at the National Gallery of Australia after a minor incident is one such stoush.

Commentary

Watch out, GDP data may test cautious RBA

By DAVID ROGERS

Markets Editor

The Reserve Bank has subtly pushed back on the possibility of deep interest rate cuts, but national accounts data could test its economic recovery narrative.

DataRoom

→	TPG Capital hires Bank of America for $700m drinks sale

The ex Coca-Cola Amatil business that sells Cocobella coconut water has been expanding in Asia.

→	Welcoming retail investors on board key in Virgin IPO

Virgin Australia’s deal team may see institutional investors as critical to its initial public offering, but retail investors are important too.

→	Seven West boss on oOh! Media’s CEO shortlist

Seven West Media boss Jeff Howard is fending off suggestions in the market he is firming as the favourite to replace Cathy O’Connor as chief executive of oOh! Media.