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The Australian

Good morning,

Australia's richest person, Gina Rinehart, has announced her two iron ore operations, Roy Hill and Atlas Iron, will be merged into a single mega-miner entity to be called Hancock Iron Ore.

Meanwhile, we talk to Australia's newest billionaire, John Mactaggart, a low-profile Brisbane investor whose family made the deal of a lifetime when TechnologyOne was in its infancy.

And we take you for a virtual walk through Western Sydney's newly completed domestic and international airport terminal. See the images and watch the video here.

Vesna Poljak

Business editor

The markets

Making news this morning

1

Capital wizards cheerlead for unloved public markets

It’s too soon to give up on public sharemarkets said Future Fund boss Raphael Arndt. ‘We’d pick public every day of the week,’ he told ASIC’s chair Joe Longo. Barrenjoey’s Guy Fowler said it wasn’t just about regulation.

2

Amazon makes a power play for small to medium businesses

Amazon Business has been launched in 10 countries and now it’s Australia’s turn as the tech behemoth Amazon unveils a division designed to help small businesses cope with operating costs.

3

Austrac denies $400m penalty will bankrupt Star Entertainment

Austrac is pressing for a $400m fine against Star Entertainment for breach of money-laundering laws, denying it could force the collapse of the troubled casino giant.

Editor's picks

Decadent pleasures killing Russia’s ring-ins, says Petraeus

Russia’s North Korean recruits are great at taking orders from their overlords but are getting slaughtered on Ukraine’s battlefield and apparently, that’s all down to their access to porn.

By YONI BASHAN, NICK EVANS

NSW homeowners get up to $1500 to plug their batteries into the grid

Households and small businesses that install a battery and join a virtual power plant will be eligible for increased subsidies to shore up the grid. This is on top a federal rebate scheme worth up to 30pc from July 1.

By COLIN PACKHAM

Commentary

Aussie homeowners may benefit from Trump-Musk fight

By ANTHONY KEANE

Personal finance writer

The public battle between Donald Trump and Elon Musk could assist a large group of Australians who have been doing it tough.

DataRoom

→	Cancer-care business Icon Group to hit the market

Swedish private equity group EQT is understood to be planning the sale of its cancer-care business, Icon Group, and is preparing to appoint an investment bank.

→	KKR among parties doing sums on Spark buyout

KKR is interested to buy Spark New Zealand in it entirety, even though investment bank Jarden it running a process to sell only a 50 per cent stake in its data centres.

→	Coronado secures $US150m in coal supply deal

Coronado has reached a deal with Queensland government-owned coal-fired power station operator Stanwell to secure $US150m upfront in exchange for a five-year coal supply deal.