Good morning,

Financial planning group InterPrac was so concerned by the volume of client money flowing into First Guardian and Shield it put a halt on the funds but never warned the regulator , The Australian can reveal.

Meanwhile, sections of Australia’s energy industry have lashed out at Ausgrid’s bid to broaden its reach , saying the electricity distributor’s proposal to manage solar power through its batteries would drive up household power bills and distort competition. 

And incoming new Rio Tinto chief Simon Trott jokes that he didn’t want to follow in his father’s footsteps and become a farmer because of the vagaries of the weather. But ironically, four cyclones in three months could cruel the miner's likelihood of hitting its guidance for the iron ore operations this year.