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The Australian

Good morning,

ASIC only commenced a formal investigation into Falcon Capital and its First Guardian funds in September 2024, seven months after it halted investments into the Shield Master Fund, despite both funds having exposure to failed property developer Paul Chiodo.

Meanwhile, forty years after it was set up to disrupt the corporate boys’ club, advocacy group Chief Executive Women is going through its own shake-up to improve its image and leadership structure.

And former Cbus chief executive Justin Arter says planned changes to superannuation tax laws could push more money from wealthy families into private credit funds.

Vesna Poljak

Business editor

The markets

Making news this morning

1

Victorian power firms spark EV charging fight

Victorian power distributors want to install kerbside EV chargers across the state, sparking warnings from retail rivals that it could distort market competition.

2

The Living Company shows faith in future of student housing

The housing developer has snapped up a site in Sydney’s Waterloo, arguing that more accommodation is required to address the specialist needs of students.

3

Coal body says LNP making ‘right noises’ over royalties

The coal sector’s peak body says it is having ongoing discussions with the Queensland government as it seeks to roll back a bruising royalty scheme.

Editor's picks

From ruin to riches: How a whisky distillery revived Corowa

Dean Druce took over a defunct flour mill in the small NSW town of Corowa in 2010, transforming it into one of the country’s best whisky distilleries.

Inside KordaMentha’s secret billionaires’ factory

It’s no accident that you won’t find Mark Korda or Mark Mentha on any rich list, as the duo use their financial acumen unpicking failing businesses to turn themselves into secret billionaires.

By TANSY HARCOURT

The biggest problems with EVs in Australia

I was more envious of a 60-year-old Kombi as I drove an EV on the Great Ocean Road, discovering hidden frustrations and trade-offs that could leave drivers stranded and out of pocket.

DataRoom

→	US giant cools on Australian storage play

A $1.93bn takeover bid for Abacus Storage King by billionaire suitor Nathan Kirsh and bidding partner Public Storage is looking increasingly unlikely, say market sources.

→	Bidders circle NIB travel insurance unit

The travel insurance division has drawn interest from up to seven prospective buyers.

→	RACQ taps Macquarie for help with bank sale

The Australian investment bank is steering the sale process for the automobile club, with regional lender Bendigo Bank believed to be among early suitors eyeing the opportunity.