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Good morning,

A decision by BHP to close NSW’s largest coal mine in 2030 has put the future of its 2000 workers under the spotlight amid demands for the Albanese government to step in and safeguard the state’s coal-rich Hunter Valley region. 

Meanwhile, billionaire Clive Palmer has hit Chinese conglomerate CITIC with a claim for $941.5m in unpaid royalties in the latest twist in a legal battle once likened to Shakespearean tragedy Macbeth by a Supreme Court judge. 

And demographer Bernard Salt says evidence across the ABS’s labour force job survey shows a changing property landscape in the post-Covid world. The jobs on the rise are in the suburbs, in the home, and perhaps attached to health precincts, he says.

Vesna Poljak
Business editor
The markets


Making news this morning
1
Morgan Stanley swoops on $600m industrial portfolio
The Wall Street investment bank has emerged as a capital partner with Frasers as the Singapore giant steps up the production of big sheds.
2
Abacus takeover bid riles shareholders
A push by South African billionaire Nathan Kirsh and US giant Public Storage to take over the Abacus Storage Property Trust is raising the hackles of minority shareholders.
3
China clips Boeing’s wings to the tune of $40bn
Beijing’s instruction to Chinese airlines not to take further delivery of Boeing jets or parts could cost the US manufacturer as much as $40bn.
Editor's picks
MARGIN CALL
Labor MP’s Greens preference a betrayal for Jews
No one has cuddled up to the Jews quite like Labor MP Matt Thistlethwaite, which is why it was quite a shock when he preferenced Greens candidate Keiron Brown in the upcoming election.
By YONI BASHAN, NICK EVANS
LEGAL AFFAIRS
Top legal talent crowned in best lawyers list
The latest legal rankings are out with one law firm named as the best, and Brisbane rivalling Sydney for talent. See the full lists of this year’s top lawyers and rising stars.
By ANGELICA SNOWDEN
AVIATION
Air travel woes spike has police on alert over Easter
A recent surge in bad behaviour by airline passengers does not bode well for the busy Easter holiday period, with federal police increasing airport patrols in preparation.
By ROBYN IRONSIDE
Commentary
Richard White sows the seeds of WiseTech’s own mediocrity
By ERIC JOHNSTON
Associate Editor
The founder who refuses to let go is essentially closing the book on succession planning. This is becoming an obvious weakness for the tech company.
DataRoom
Respite from natural disasters lifts insurers to record profits
Australia’s general insurers posted a record $6.1bn in collective profit for 2024 – more than triple the five-year average – as rising premiums supercharged earnings.
Stonepeak takes 75pc stake in IOR
The New York investment firm of richlister Michael Dorrell has taken a 75 per cent stake in one of the nation’s largest fuel and logistics providers.

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