Spying as Star 'prepared for war' | ACCC snub over telcos' triple-0 fears | ASIC's changing of the guard

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Star Entertainment bosses spied on special casino manager Nicholas Weeks’ diary and considered a class action as they “prepped for war” with the regulator, the explosive first day of a new inquiry heard.

Three of ASIC’s most senior figures including its chief executive are heading for the exit, in major changes at the top of the corporate regulator.

The competition watchdog is refusing to use its product recall powers to alert hundreds of thousands of people that their mobile phone might not be able to call triple-0 when 3G is turned off, despite appeals from the big telcos.

The Australian sharemarket fell to its lowest level in more than three weeks, as global investors await Israel’s response to Iran’s drone attack. The ASX 200 fell 0.5 per cent to 7752.5 points and the broader All Ordinaries lost 0.5 per cent to 8009.4.

The Big Read

On a sultry Monday morning in late February, David Foster’s ­mobile phone started ringing shortly before 9.30.

Foster was in Sydney preparing for what was shaping up to be a densely packed board meeting to sign off on the latest accounts of Star Entertainment.

The former career banker was newly appointed chair of the wayward operator of Sydney’s three-decade old casino as well as two in Queensland, The Star Gold Coast and the new-mega Brisbane ­casino that is nearing completion.

While the chips were again flying back and forward on the gaming room floors of the properties after the pandemic shutdown, Star’s future was hanging by a thread. Foster’s job was to help ­secure it.

Eric Johnston, Perry Williams and Alexi Demetriadi

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