Star closes in on deal to offload Queen’s Wharf to HK partners
A deal is close to being brokered to sell troubled Star Entertainment’s stake in Queen’s Wharf in Brisbane to its Hong Kong-based partners Far East Consortium and Chow Tai Fook.
Business
ASX 200 slumps; Star close to Queen’s Wharf deal
Casino operator’s deal with Hong Kong partners to help avoid administration. Ex-dividend trading, oil price slide weigh on bourse. Insurers face $2bn-plus hit from Cyclone Alfred. APRA moves to tighten financial board rules.
Telstra offloads venture capital unit in ‘fire sale’
Australia’s biggest telco has sold its interests in a venture capital fund at a steep discount, as it opts to invest in its network rather than tech start-ups.
Tension building over Star’s future plans
Some lenders have been refusing to accept terms of a recapitalisation plan that could save the casino operator with 8000 workers, according to sources.
‘Too big a job’: Pub king Laundy steers clear of Star
The casino would have fitted well with the billionaire publican’s empire, but he decided against chasing the prize property.
Betr has ‘credible lender’ in place for Pointsbet bid
More detail has emerged in Matt Tripp’s last-ditch bid for a rival that is already subject to a takeover offer from a huge Japanese company.
Shambolic PolyNovo schooled on work manners
Finding a replacement for David Williams is proving tricky for PolyNovo, even after it brought in a top lawyer to provide training to directors on appropriate behaviour.
D-Day for Star administration decision
Lenders to distressed companies are hovering and are expected to hear by Thursday if Star Entertainment Group will enter into voluntary administration.
Commentary
With our defence ‘dangerously weak’, we must supercharge drone technology
One of our closest guarded secrets is that we are among the world leaders in drones and radar technology, which we must exploit amid rising global tensions.
The final piece falls into place for Virgin listing
Conditions are booming in aviation, but Virgin Australia is gambling it can still land its multi-billion dollar IPO later this year.
Markets on edge as Trump dubs tariffs pain ‘a little disturbance’
US President Donald Trump is downplaying the fallout from his tariffs, suggesting he will push on with his aggressive trade policy. This isn’t good news for markets.
Cambridge snaps up campus for $111m
Educational assets are moving even as the commercial property markets remain tough.
Top marks for housing students
The national chase for student accommodation assets has kicked off with big facilities changing hands in Sydney and Melbourne.
Local snares Melbourne complex as build-to-rent takes off
The build-to-rent market has sprung into life with Australian heavyweight swooping on a major development project in Melbourne.
Spotlight
Vicinity circles shopping complex in Elanor selldown
Find out where Melbourne’s next major factory outlet could get underway.
Apple unveils its ‘most powerful Mac’ as it cuts prices
The tech giant released a new Ultra chip that it says makes its latest Mac Studio the most powerful computer it’s ever built as it trims prices across its MacBook and iPad Airs.
Bumpy times ahead for Country Road
The international owner of Country Road, Mimco, Witchery, Trenery and Politix is reviewing the carrying value of its Australian brands after profit sllump.
How official economic statistics are lying to us
Wednesday’s improving GDP numbers will be spruiked by Labor in the looming election campaign, but they mask a darker truth.
Surprise business move for Crows legend
A former Adelaide great aims to bring his leadership skills to bear off the field, teaming up with a former Crows chair in a new role.
TEG CEO to ‘hang around’
Geoff Jones is recruiting for a new CEO at live entertainment and ticketing giant TEG. But he explains he’s not leaving the business he loves.
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.
Fast and loose: how Aussie companies are using AI
Australian marketers are embracing artificial intelligence – more than their global peers – but their enthusiasm for the much hyped technology has prompted concerns that they may be moving too fast.
WiseTech’s White shrugs off critics to chase global dream
Richard White has wasted no time in his new role at WiseTech, striking a deal to take over a Colombian freight tech business as he pursues his global growth ambitions.
Blackbird ventures an opinion on AI outlook: there’s no sign of a bubble
Artificial intelligence is just getting started, with Australia’s biggest venture capital firm dismissing concerns about a bubble.
Security upgrade? Bank on it, says CBA
Australia’s largest bank is strengthening its security by introducing a multi-factor authentication system requiring customers to approve a prompt in the app to log in.
Drop in franked dividends comes at the worst possible time
Franked dividends, which are the key income stream for many investors, have declined and the outlook is far from encouraging.
Wilson builds his own ‘hybrid-like’ fund with $510m IPO
The veteran stockbroker has an income solution for the looming end of Australia’s multi-billion hybrid securities market.
How first home buyers are becoming landlords
An investment-first trend is increasing among home buyers as high prices and interest rates impact housing affordability.
PolyNovo chair pushed to resign after secret bullying investigation
Renowned Melbourne deal-maker David Williams’ offensive behaviour and bawdy jokes might have finally put his job at risk inside PolyNovo after an under-wraps legal review.
Pitt falls: The unexplained exit of an IT star
Founder syndrome or management style? You don’t have to hunt far online to get a feel for how some of software company Buildkite’s employees felt about their now departed boss.
No love lost in barney between billionaires
A classic slap fight is unfolding before our eyes between Mike and Annie Cannon-Brookes, the splitsville rich-listers trying to make each other blink over the carve-up of their $23bn estate.
Is pointing out Labor links sexism – or scrutiny?
Moral outrage crash-landed into our inboxes here at The Australian on Thursday in the form of a searing response to a column item we ran earlier this week.
Sharma demands sanctions action on Iran-backed TV
Liberal senator Dave Sharma has demanded Penny Wong enforce sanctions on a listed Iran-backed media organisation operating in Australia.
ABC tells teal to scrub footage
The ABC has told teal candidate and former Triple J presenter Alex Dyson to remove Four Corners footage from his political ads.
When prosperity stalls, ingenuity calls: a new era for The Lucky Country
IVF giant in a battle to rebuild trust after cyber data breach
Vegas a winning gamble for Foxtel
Meet the team
Perry Williams
With 20 years’ experience analysing global economic trends, Perry is a recognised authority in business journalism, having reported on business news across Australia, New Zealand, the UK, and the Middle East.
Amber Plum
A longstanding member of The Australian and The Australian Business Network, Amber joined the masthead as Deputy Business Editor in 2016 and was promoted in 2023.
Louise Brannelly
Louise has over 20 years of experience as a national content editor and business journalist. Louise is skilled in identifying and analysing audience trends with keen insight to deliver compelling journalism.
Can psilocybin heals brains and binge eating?
Psilocybin can heal brains and tackle binge eating, and ASX players like Tryptamine and Bioxyne are making moves.
HPA is the high-tech commodity to watch
High purity alumina is seeing increased demand in a range of high-end technological uses. Here are the companies that are positioned to capitalise on this growth.
KNG dispatches Leliyn graphite concentrate
A pivotal step has been taken at the Leliyn graphite project in the Northern Territory with the shipment of a bulk sample of concentrate to Germany.
Sometimes it’s not the drug, but how it’s delivered
In drug development, having the right delivery mechanism can be just as important as having the right therapy.
Original URL: https://www.theaustralian.com.au/business