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The Australian Business Review
 

Good morning,

Gas supplies across the eastern seaboard must be “carefully managed” if the fuel source is needed to support higher electricity demands over a hotter-than-average summer, the energy market operator says.

China Investment Corporation is in the process of selling a $1.9bn parcel of shares in the industrial property powerhouse Goodman Group in a deal handled by investment bank Citi.

Former trade minister Andrew Robb has warned forcing the “rapid implementation” of green infrastructure without assessing market readiness risks hydrogen’s energy potential , even as he joined the board of 2025 ASX candidate and hydrogen hopeful United H2.
Perry Williams
Business editor
The markets


Making news this morning
1
No proper processes at Cbus for CFMEU payments
The $94bn construction industry superannuation fund didn’t have proper processes to ensure that its ‘partnership’ payments to the CFMEU were in the best financial interest of members, according to Deloitte.
2
KFC owner targets value to entice shoppers
The new CEO of Collins Foods, which owns 359 KFC stores across Australia and Europe, believes the fast-food chain has strong ‘value’ credentials but needs to show profitable growth.
3
Co-founder Diamond cuts Zip ties amid rumours of share sale
Zip Co founder Larry Diamond has quit the buy now, pay later company after its stock surged eightfold in a year. He says he’ll focus on his family office and philanthropic endeavours.
Editor's picks
MARGIN CALL
Treasurer’s ‘day spa’ treatment
Not all day spas are painless, particularly the euphemistic Jim Chalmers variety which is focused on leaving government agencies ‘refreshed’ and ‘revitalised’.
By YONI BASHAN, NICK EVANS
WEALTH
How much it now costs to retire comfortably
Retiree couples today need almost $9500 a year more for a comfortable retirement than in 2021, but some relief has arrived.
By ANTHONY KEANE
TRADE
China lifts trade ban on final two abattoirs
All 10 Australian beef processors banned by China are now free to trade again, ending a diplomatic standoff that lasted more than four years.
By CHARLIE PEEL
Commentary
Cbus’ boardroom gaps a warning for big super funds
By ERIC JOHNSTON
Associate Editor
The existing model whereby directors appear to be picked for their union affiliation rather than experience in overseeing billions of dollars in retirement savings must evolve.
DataRoom
→ EMR Capital side steps 29Metals raising
There had been speculation that the private equity firm had been keen to sell out of the copper miner.
→ Auckland Airport $1bn-plus selldown imminent, Jarden on the ticket
The Auckland council owns an 11 per cent stake in the $12bn Auckland Airport through its Auckland Future Fund.
→ An exit from US operations on cards as Zip’s fortunes turn
Buy now, pay later company Zip may look to exit the US, as co-founder Larry Diamond announces his departure.

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