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The Australian

Good morning,

The West Australian government has sent shockwaves through the resources industry with its assessment of a $5m-$10m damages bill for the destruction of more than 200 Aboriginal heritage sites - raising questions about the native title system.

Meanwhile, Slater + Gordon has referred to police a malicious email containing employee salary information and explosive allegations of dysfunction within the firm. The law firm on Sunday said it would conduct an internal “forensic investigation” to track the email's origins.

And Assistant Treasurer Stephen Jones has warned in a wide-ranging interview ahead of his retirement that the Albanese government's work will only be seen clearly in years to come.

The markets

Making news this morning

1

Rate cut no silver bullet for falling living standards

The Reserve Bank’s interest rate cut has been welcomed but business leaders warn that cost-of-living issues persist and more radical measures may be needed.

2

New Westpac boss shakes up consumer bank

Westpac’s new CEO Anthony Miller is yet to completely lock down a new-look executive bench, but has moved to reorganise key parts of the bank’s consumer and business units.

3

Private credit critics ‘miss the point’

Australian investors want more exposure to private markets, even as warnings rise. Hamilton Lane boss Juan Delgado says low default rates show the strength of private credit.

Editor's picks

Billionaire Vicars snaps ups seventh unit in Bondi block

Billionaire fund manager Will Vicars has bought another investment property at Bondi Beach, splashing $2.55m on an apartment in the Bondi Pacific complex.

By JONATHAN CHANCELLOR

Cost of living derails retirement hopes

More than half of working Australians don’t expect to build up enough of a nest egg by the time they leave the workforce, according to a new survey from Colonial First State.

By CLIONA O’DOWD

Electric dreams: Is the grass really greener?

My Victa lawn mower ran on fossil fuels but was reliable, lasting more than 40 years. When it finally stopped working, I joined the Ryobi One electric cult. That was a big mistake.

Commentary

Brookfield’s assessment of La Trobe sale to come to a head

By JOYCE MOULLAKIS

Senior Banking Reporter

As the private equity firm navigates Healthscope being in a perilous state, it is also actively assessing whether to divest Melbourne-based La Trobe Financial.

Investing amid volatility during Trump’s second term

By CHARLIE JAMIESON

As we step further into 2025, financial markets are grappling with a rapidly evolving landscape, raising fundamental questions about economic growth, inflation and investment strat...

DataRoom

→	Ramsay keen on Healthscope

Ramsay Health Care is believed to be positioning itself to become involved in a break-up of Healthscope and is keen to gain control of hospitals owned by its rival.

→	Focus on oOh!media as private equity starts buying

Private equity groups are back in the media space assessing possible buyout options, sources say, believing listed industry stocks now represent good buying.

→	Existing shareholders may exercise rights to lift Zenith stake

Private equity firms and infrastructure investors may be lining up to buy Zenith Energy but there’s a question mark over whether the business will be sold to an external group.