How will Lang Walker’s $6bn empire be carved up?
The late tycoon left behind one of Australia’s biggest private companies and new documents reveal how his wife, children, and two trusted directors will share the property behemoth’s assets.
SA Business
ASX 200 to lift after Wall Street records; Santos in focus
Middle East buyers circling Santos: Bloomberg. Oil, gold prices jump. Nasdaq, S&P hit records in shortened, mixed US session ahead of its Independence Day break. US Fed Reserve minutes signal no hurry on rate cuts.
Qantas warned over executive bonuses
Qantas shareholders have delivered a stern warning to the board as it mulls over the payment of massive executive bonuses including to former CEO Alan Joyce.
Fortescue hired Private Investigators to spy on ex-staff
Andrew Forrest’s Fortescue paid private investigators to follow former staff ahead of a battle of intellectual property, previously suppressed court documents show.
Booktopia in administration with urgent sale sought
Booktopia has collapsed into administration less than four years after listing on the ASX with an urgent assessment of the business now under way.
Virgin pilots refuse bumper pay rise offer over day off concerns
Virgin Australia pilots have voted down a healthy new pay deal that increased wages significantly but reduced their days off by six a year.
Grim sign fresh rate hike coming
The Reserve Bank has released the minutes from its June board meeting where it considered another rate hike. The discussion shows some storm clouds for homeowners.
PC maker’s $200m Pakistan deal with Google
Adelaide PC maker Allied Corporation and tech giant Google have struck a $200m deal to manufacture laptops for students in Pakistan.
Why 8 minutes is making a big difference to Qantas
Qantas has made another big change to its boarding process to help get aircraft away on time, or even ahead of schedule.
Billionaire Shahin family’s luxury car ATO legal war
A long-running stoush between the Shahin family, who founded OTR convenience stores and the Smokemart chain, over the use of a fleet of 40 luxury cars can be revealed for the first time.
ASIC’s failure is it has become too big to regulate
The nation’s powerful corporate cop is doing too much, and most of it is small fry.
Breakthrough for Whyalla steelworkers forced on to lower pay
Whyalla steelwork employees have been on cutback hours for months – but today there’s been a huge announcement about their future.
Gym owners fear ‘we’ll lose the house’ as tough deadline looms
A staggering rent bill and punishing electricity costs have left this western suburbs couple in a race against the clock.
The top ASX resources winners for June
These ASX-listed resources companies had a very decent June. All 50 of them.
Three ASX firms driving decarbonisation
Several ASX companies are focused on reducing CO2 emissions through their technologies and products. Here are just a few.
FMR refreshes itself into an exploration junior
Backdoor-listed onto the ASX, former software stock Applyflow has made way for Canadian copper explorer FMR Resources.
Surprise claim as AI to create 200k jobs
Thousands of Australian jobs in the AI sector could be created this decade, but major issues remain unanswered.
ASX gains on record highs on US markets
Elon Musk becomes $10bn richer overnight, as US gains filter through to the Australian market in trading on Wednesday.
$50m deal to save cash given OK
The consumer watchdog has granted interim approval for the multimillion-dollar deal to ensure the transport of cash across Australia.
Real estate loses ground on RBA minutes
Real estate investors have taken a backwards step on the sector Tuesday, as the Reserve Bank minutes show the cash rate could be hiked again.
‘Sad event’: Aussie airline is officially over
An Australian airline that only launched in January 2023 is officially dead and dusted, with creditors making a final decision on its future on Tuesday.
Grim sign fresh rate hike coming
The Reserve Bank has released the minutes from its June board meeting where it considered another rate hike. The discussion shows some storm clouds for homeowners.
More Business News
Iconic Hindley Street pub sales spark liquidator probe
Companies operated by a prominent Hindley St publican are being investigated over the sale of two venues in the lead up to their million-dollar collapse.
Big promise to stop grocery prices rising
Opposition Leader Peter Dutton has put major supermarkets on notice, with the Coalition promising harsh penalties and policies which could split up the duopoly.
Big banks under constant cyber attack
One of Australia’s top banking executives has revealed the big four are under constant attack from cyber criminals.
Beleaguered Beston to update on financing and milk supply
Beston Global Food company, which has a debt load which dwarfs its valuation – largely held by NAB – is poised to update the market on its funding and milk supply.
Consulting firm Synechron snaps up two major tech outfits
Synechron continues its acquisition spree in Australia, buying two related tech firms with about 200 staff, adding to its iGreendata purchase earlier this year.
Eureka to sell two SA villages after seeing off Aspen bid
The move comes as the over-55s rental community operator eyes more acquisitions and developments.
Gerry Ryan’s luxury safari resort at Monarto up for sale
Jayco founder Gerry Ryan is selling the luxury resort he has bankrolled at the Monarto Safari Park before it even opens.
SA manufacturer behind iconic Aussie cricket gear goes under
A local wool producer best known for the Australian Test team’s knitwear has fallen into liquidation after more than 70 years in business.
Catsoulis’s Impact Gold facing winding up application
David Catsoulis’s PNG-focused Impact Gold is facing a winding up application, while his fellow company Warwick Gold is in liquidation.
Sneesby heads to Greece as Nine’s newsrooms crumble
Nine CEO Mike Sneesby flew to Greece on Friday night for a week-long family holiday, just hours after slashing hundreds of jobs at the embattled media company.
Why the Libs’ super-for-housing plan won’t be a winner for many
Letting people withdraw their superannuation for a home deposit may sound generous, but the idea fails on two key fronts.
Benefits and execution of $4.9bn bank deal in spotlight
Approval of ANZ’s $4.9bn takeover of Suncorp Bank will see the buyer add $70bn in loans to its portfolio and start a huge customer retention drive.
Rex launches cheap flights to Perth
Rex Airlines will be offering SA travellers heading to the west the lowest prices in years.
VAILO founder eyes iconic SA venue as next investment
Enigmatic businessman Aaron Hickmann is in talks to acquire one of Adelaide’s most iconic entertainment venues.
Seven West Media caught in major hack
Online criminals have used an AI-generated version of Elon Musk’s likeness to hijack Seven West Media’s YouTube accounts.
Inflation delivering more good news for cash savers
Cash in the bank has become more alluring as banks increase interest rates, but many savers still miss out on money.
Analyst calls buying opportunity as Immutep shares tank
Investors have misread the latest Immutep trial results, smashing the stock price and creating an ‘obvious buying opportunity’, analysts say.
Rich listers to take over control of women’s basketball league
Tesla chair Robyn Denholm will become the first female majority owner of an Australian sports league as she leads a syndicate with billionaire property developer Larry Kestelman to buy the WNBL.
ASX rebounds from four-week low; property worst
ASX rebounds strongly after big fall. Seven West YouTube accounts hacked. Austal chair John Rothwell hands reins to ex-US Navy official next week. Ramelius’ $87.7m Spartan buy-in. US futures dive on Micron fall.
Pilbara renewables needed for BHP’s electric dreams
BHP will source 500MW of renewables in the Pilbara by 2030 as it converts its diesel-hungry truck fleet to electric power in coming years.
Analysts speculate on payoff for Premier holders
Analysts like what they see in a merger of Myer and Premier’s Apparel Brands, and some are already speculating on how many Myer shares Premier shareholders will receive.
Dutton’s ‘big stick’ sets dangerous tone for business
From energy to supermarkets, Peter Dutton is proving instincts are built on more, not less, market intervention.
Fast track for Squadron’s Kembla a potential gas solution
Andrew Forrest’s Squadron Energy says its LNG import terminal at Port Kembla could be fast tracked to plug looming gas shortages on the eastern seaboard.
Bendigo Bank stirs up CEO exit season
Bendigo and Adelaide Bank’s CEO appointment has cemented succession planning as a key topic in the sector, fuelling expectations at least two of the big four banks follow suit.
Experts tip investment winners for year ahead
The standout performers of 2023-24 were celebrated, but a new financial year brings fresh hope for different types of assets.
Bendigo’s board put costs at centre of CEO challenge
Incoming CEO Richard Fennell will need to quickly prove he isn’t just another product of the Bendigo culture that has had greater tolerance for costs than the bank’s investors.
New $60m private school set for big name development
It will be built to cater for the 40,000 residents of the major new housing development in Adelaide’s northern suburbs.
CBA prepares to take on Wall Street’s biggest banks
The Australian bank has passed a staggering milestone. Can it continue to defy gravity?
Deputy mayor accuses Adelaide MP of ‘gaslighting’ community
A feud has ignited between the city council’s deputy mayor and Labor MP Lucy Hood after she circulated a pamphlet about the parklands. And neither are backing down.
Hot advice: Danger of online product reviews
Want a good electric blanket or other household item? Scott Pape says in an age of fake reviews, there’s one key place to check.
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