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Good morning,

Victoria’s ambitious plan to build a major offshore wind-powered electricity generation industry faces a significant risk of being derailed due to high costs and uncertain Commonwealth support, the nation’s top clean energy investor group says. 

Meanwhile, the Queen’s Wharf sale will likely go ahead, says a veteran financier with skin in the game as Star Entertainment finalises its response, due today, to Hong Kong joint venture partners Chow Tai Fook Enterprises and Far East Consortium’s threat to tear up the deal.

And Domino's Pizza, once considered a tech stock because of its heavy investment in IT, must change its ways as it competes with the rise of Uber Eats and other fast food delivery platforms, says billionaire boss Jack Cowin.

Vesna Poljak
Business editor
The markets


Making news this morning
1
Investment banker killed in horror cycling crash
Tim Miles, one of Australia’s leading bankers and founder of Miles Advisory Partners, died when he was hit by a bus outside Taronga Zoo.
2
Sales and profits for French fashion house Chanel dive
Even Australia’s most affluent shoppers can get ‘sticker shock’ as luxury handbag prices leap almost 100 per cent and Chanel’s latest accounts show a sharp downturn in sales and profitability.
3
Asian warehouse giant sees the tariffs upside
Asian warehouse giant ESR has just been taken private and controls about $1 trillion in assets. Now newly appointed president, Australian executive Phil Pearce, has big plans ahead.
Editor's picks
MANUFACTURING
Former stockbroker at the pointy end of defending Australia
A decade ago Matt Lucarnus turned his back on his stockbroker career and founded knife manufacturer Zu Bladeworx. Today he supplies combat knives to the Australian Army.
By GLEN NORRIS
LEGAL AFFAIRS
AI dawns as the new frontier in legal fights
Australia mirrors the US in class action trends, and AI washing cases could be on the rise, lawyers and experts say.
By ANGELICA SNOWDEN
EXCHANGE
Australia’s iron ore sector pins its hopes to a Chinese rebound
Beijing’s latest supply-side reforms provide some hope for Australian iron ore miners after a brutal financial year in which the materials sector significantly lagged the broader market.
By DAVID ROGERS
DataRoom
RACQ eyes bank sale after $855m insurance exit
RACQ merged in 2016 with QT Mutual Bank, but faces mounting competition pressures and is believe to be considering a sale of its bank.
NIB releases sale docs for travel arm as Zurich circles $200m target
Health insurer NIB has released the sale documents for its travel insurance business to potential buyers.
FleetPartners centre of mergers and acquisitions talk
FleetPartners Group has come to the attention of private equity and is again a talking point in the market over potential mergers and acquisition activity.

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