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The Australian

Good morning,

Paper, packaging and recycling magnate Anthony Pratt has lauded Australia’s rapid advance towards $100bn in annual food exports , with 70 per cent of our farmed production being sold to 169 markets. Mr Pratt will address The Australian and Visy Group’s 13th annual Global Food Forum in Melbourne today.

Meanwhile, Westpac CEO Anthony Miller says Australia should not “overreact” to US President Donald Trump’s tariff hit and says the nation should “sit back and see if there’s an alternate path we can follow”.

And the US wants to boost “responsible and transparent” development of critical minerals assets in the Democratic Republic of Congo, where a stricken Australian explorer, AVZ Minerals, has fought to regain control of a lithium deposit it claims was unlawfully seized by a Chinese company.

Vesna Poljak

Business editor

The markets

Making news this morning

1

Super industry is ‘not equipped’ to meet retirement demands

Setting up a super system for the accumulation phase is easy compared with the demands of supporting members in retirement, an industry expert says.

2

DP World’s bid for rival raises ACCC competition concerns

Australia’s second-biggest stevedore operator, DP World, has hit a competition hurdle in its bid to take over rival Silk Logistics.

3

NBN ‘privatisation’ alarm resurfaces amid $750m upgrade fizzer

The Albanese government has dismissed the Coalition’s criticism of an NBN upgrade - that yielded 100 customers despite costing $750m - saying the Opposition wants to sell the telco.

Editor's picks

Anti-Israel artist out of fashion

Was it the weird anti-Israel posts of her guest or because her sister’s electorate has a strong Jewish presence? Fashionista Bianca Spender’s in-store meet this week has been hastily kiboshed.

China’s thirst for dairy a boon for our farmers

Cream, cheese, yoghurt and milk are increasingly finding their way into Chinese shopping trolleys, which creates a significant opportunity for Australian dairy producers.

By ELI GREENBLAT

Commentary

Tariff trauma’s personal for NAB chief Andrew Irvine

By ERIC JOHNSTON

Associate Editor

The boss of big-four bank NAB has more skin in the game than most in Donald Trump’s tariff war. There are also lessons for Australia out of this.

Native title ruling not the success it’s claimed to be

By CHRIS MERRITT

Legal Affairs Contributor

Concern about potential compensation claims flowing from this week’s native title ruling in the High Court is overblown, writes Chris Merritt.

DataRoom

→	Perpetual launches process to pick investment banking adviser

Perpetual is weighing a move to choose a brand new adviser to sell its wealth management unit, having parted company with three groups that have previously assisted.

→	Fonterra’s Mainland draws more interest from private equity

Blackstone is the latest private equity name to join the list of potential interested parties for Fonterra’s $2bn-plus Mainland Group.

→	Still issues at Fletcher Building: Goldman Sachs

Beaten-down building materials company Fletcher Building still faces challenges, so investors should not get ahead of themselves betting on the stock, analysts at Goldman Sachs say.