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Good morning,

Australia’s biggest super funds are promising to clean up their act in the wake of a scathing review that uncovered widespread failures in their handling of claims from customers dealing with the death of a loved one. 

Meanwhile, Cecile Wake, the head of Shell Australia, said the country should focus on bolstering much-needed gas production rather than carving off supplies from the nation’s LNG industry, which is already a major supplier to the domestic market.

And Crown Resorts chief executive David Tsai has called for a level regulatory playing field across the gaming sector, warning that new restrictions targeted solely at casinos will stymie investment. 

Vesna Poljak
Business editor
The markets


Making news this morning
1
Origin goes it alone on Eraring
In an indication of Origin Energy’s confidence that its Eraring coal-fired power station will turn a profit, it has elected not to opt into an underwriting deal with the NSW government.
2
Supermarket boss sick of price gouging ‘slurs’ after PM’s barb
Fred Harrison has been working in supermarkets for 50 years, and comments from the election trail have left him fuming.
3
ANZ rushing on CEO transition
Incoming boss Nuno Matos is expediting his entry at the bank amid growing regulatory scrutiny.
Editor's picks
MARGIN CALL
Carry on camping? Cranbrook caper hushed up
The jumpy parent group at elite private school Cranbrook has been in a tizzy over the scandal-prone establishment’s latest PR crisis, this one involving ‘inappropriate behaviour’ on a student excursion.
By YONI BASHAN
REVIEW
How effective are Apple’s AirPods as hearing aids?
I hadn’t had my hearing checked in 20 years, so was keen to give Apple’s new at-home test a go. The results were surprising. Here is what I found and what audiologists say.
By JARED LYNCH
OFFICES
Japanese investors grab city tower for $600m
Japanese property players are continuing to set the pace for city office towers, with a Sydney purchase the biggest of the year to date.
By BEN WILMOT
Commentary
Capitalism has ‘failed too many’: Larry Fink
By ERIC JOHNSTON
Associate Editor
The BlackRock boss has put forward a defence for globalisation as he argues markets hold the key to creating more evenly distributed wealth.
Customers should come first for super funds
By SIMONE CONSTANT
The growth of superannuation fund operations has failed to match customer service needs. The result? Good service has fallen by the wayside.
DataRoom
Sigma weighing convertible bond raising
The $33bn pharmacy group is considering its capital management after its merger with Chemist Warehouse.
Insulation operations face axe under Fletcher Building review
Fletcher Building’s strategic review is not expected to be announced until June, but already talk is filtering into the market about the potential outcome.
Jefferies Australia profit jumps in bumper year for M&A
The Wall Street bank’s Australia team has started 2025 with a bang, advising on big-ticket mandates.

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