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Good morning,

In SunCable, Mike Cannon-Brookes wants to deliver one of the world’s biggest renewable energy projects. But a maiden $US100m capital raising campaign has failed to convince outside investors to back his decarbonisation dream.

Meanwhile, Victoria’s two largest power stations are running at reduced capacity, increasing the state’s reliance on gas. But supplies are under pressure after a fault at a major east coast plant.

And Virgin Australia celebrated the return to long haul international flying with partner Qatar Airways, but kept new CEO Dave Emerson from saying too much.

Vesna Poljak
Business editor
The markets


Making news this morning
1
SunCable a rollercoaster ride with no financial end in sight
Mike Cannon-Brookes made his money in software with Atlassian, and has big renewable energy aspirations with the SunCable project. But easy funding is proving elusive.
2
Pratt says deal with Waislitz proves she controlled empire
Codenamed Project Rose, details of a financial deal between the Pratt family, daughter Heloise and her ex-husband Alex Waislitz have been revealed in court as the billionaires battle over family assets.
3
NSW confirms rescue talks for Tomago aluminium smelter
State and federal Labor governments are under mounting pressure to prevent the collapse of one of Australia’s largest manufacturers.
Editor's picks
ANALYSIS
Virgin keeps new CEO on down low at major flight launch
Virgin Australia celebrated the return to long haul international flying with partner Qatar Airways, but kept new CEO Dave Emerson from saying too much.
By ROBYN IRONSIDE
MARGIN CALL
STC donations dive after Palestinian scarf stunt
The Sydney Theatre Company has finally released its financial accounts, confirming what everybody knew – that it would pay a hefty price for the poor handling of that Palestinian scarf fiasco.
By YONI BASHAN, NICK EVANS
INVESTING
The young fundies using AI to beat the index
When Armina Rosenberg walks into her Minotaur Capital office each morning, there’s not a single analyst in sight. AI is saving her millions, and she’s not the only one using it.
By CLIONA O’DOWD
Commentary
Are we still the land of the fair go?
By CHRIS MERRITT
Legal Affairs Contributor
A survey by the Rule of Law Education Centre shows people are losing faith in the Australian justice system.
Why your Qantas frequent flyer points will lose altitude
By ANTHONY KEANE
Personal finance writer
A devaluation of Qantas points is coming, but savvy members who treat them as an investment can still enjoy rich rewards.
DataRoom
Brookfield offloads $428m stake in QLD coal port operator
The private equity giant is selling a significant stake through investment bank Barrenjoey, as the coal terminal operator eyes strategic acquisitions.
Cashed-up Superloop hunts for acquisitions as organic growth lifts
CEO Paul Tyler signals the telco is ahead of growth targets without deals, but that doesn’t mean they won’t be on the agenda.
Race for Perpetual wealth unit narrows
Private equity giants Oaktree and Bain Capital have emerged as final contenders in the sale by the financial group looking to reduce its debt.

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