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At a time when retail is under such pressure from the impact of 12 rate rises and inflated business costs, one Australian brand in that space has been valued at a cool $1.75 billion!
The Greens say strong corporate profits underscore the need for federal action on surging rents; Ed Husic claims Woodside’s sale of a $760m stake in a WA gas project as a win for the government. Follow updates here.
Shares drop at open; $A tumbles; Fitch downgrades US foreign currency ratings; Westgold expects lower costs for FY24; BWP Trust declares 9.27¢ dividend. Follow updates here.
Joanna Mather has been appointed Wealth Editor; Ronald Mizen will cover the intersection of business, politics, economics and the law; and Michael Read has been appointed economics correspondent.
Ex-PM Malcolm Turnbull raises concerns over Sky News’ “anger-tainment” approach to Indigenous issues; the majority of the 70 whales stranded on a WA beach have died. Follow updates here.