City Melbourne Financial News

There’s no shortage of activity at the country’s major aviation assets, with Queensland Airport Limited’s shareholders joining those at Brisbane Airport in weighing up their options for the future of that investment.

MPs and two councillors were involved in receiving significant sums of money and political donations to promote the interests of John Woodman, a millionaire property industry figure. The Independent Broad-based Anti-corruption Commission found that two City of Casey councillors, Geoff Ablett and Sameh Aziz, accepted hundreds of thousands of dollars in undeclared payments to advance Woodman's interests within the council's processes. Additionally, the investigation found that former Labor MPs Jude Perera and Judith Graley also received financial support for their election campaigns. Subsequently, they sought to influence the planning minister and other government decision-makers to support a rezoning proposal that would have resulted in substantial gains for Woodman and certain landowners. According to the Operation Sandon report, Premier Daniel Andrews provided evidence to the investigation. However, IBAC did not find any adverse findings against him.

The Matildas have slumped to a disastrous 3-2 loss to Nigeria and will likely have to beat Canada without Sam Kerr to avoid a group stage exit at their home Women’s World Cup.

The Victorian government spent $176,000 to set up a 2026 Commonwealth Games office in Geelong last year before pulling the pin on the competition because of cost blowouts.

Borrowers in Sydney’s south-western suburbs and in Melbourne’s north-west are more than twice as likely to be a month or more behind paying their home loans, data compiled by ratings agency S&P has found.

One of the world’s biggest airlines, Turkish Airlines, has been forced to put its plans of expanding services into Australia indefinitely on hold after it failed to win government approval in time for an expected launch of highly sought after capacity to Europe from Melbourne and Sydney.

Sam Kerr has been ruled out of Australia’s Women’s World Cup opener against Ireland and the subsequent game against Nigeria through injury.

Billionaire businessman Dennis Bastas is closing in on full control of the two pharmaceuticals groups he jointly owns with Canada’s wealthy Sherman family, in what’s understood to be a $1 billion deal.

Former Olympic rower and Wesfarmers chief executive Rob Scott has criticised the Andrews government for not considering a scaled-back version of the 2026 Commonwealth Games in Melbourne instead of scrapping them altogether.

Up-for-sale Ventura, one of the country’s largest bus operators, makes $300 million of revenue, has an “infrastructure-like risk profile” which is expected to get core-plus funds’ wheels spinning, and could serve as a platform to “to unlock national expansion”.

Mentally, the good folk of Melbourne go off-piste from late July, leading up to the AFL finals in September. Thrilling Australian football contests play havoc with the collective Melbourne mind as the big men fly.

Glow Capital, the investment house run by former Quadrant Private Equity deal maker Justin Ryan, has closed its first deal after acquiring a controlling stake in Melbourne-headquartered clothing supplier Cargo Crew.

The rush is on in the booming build-to-rent sector, and the $16 billion Investa, run by Peter Menegazzo, does not intend to be left behind.

dollar took respite on Monday after suffering its worst weekly drop of the year, as traders waited on economic data and policy decisions before selling it down any further. Chinese growth data and loan-rate settings are due later in the session, ahead of U.S. retail sales and British inflation later in the week and a slew of central bank meetings next week.

The private equity interests behind Bonza, the latest to try its hand at breaking into the ultra-competitive Australian aviation market, are considering whether to bring in new capital partners to back the airline’s expansion into a full-scale domestic carrier.

MA Moelis Australia has made two additions to its equity research team, with a focus on resources and industrials research.

Less than six months after it began operating, Bonza says it will cut five routes from its schedule while it waits for new planes to arrive after they finish operating in the northern hemisphere summer later this year.

Medical and healthcare innovation precincts in places such as Melbourne’s Parkville and Sydney’s Westmead are at the vanguard of Australia’s world-class research endeavours. But how can a nation of 26 million people compete with global heavy-hitters such as Johns Hopkins Hospital, the Harvard system or Toronto’s MaRS Discovery District?

R Balki's directorial venture 'Ghoomer', starring Abhishek Bachchan and Saiyami Kher, will lift the curtain on the 2023 Indian Film Festival of Melbourne (IFFM) on August 12. According to the makers, the film narrates «a triumphant story of a paraplegic sportsperson (Kher), who excels as a cricketer under the guidance of her coach (Bachchan).» The story is co-written by Balki, known for 'Cheeni Kum' and 'Ki and Ka', with Rahul Sengupta and Rishi Virmani. In a joint statement on Monday, Balki and Bachchan said they are honoured to open the IFFM with 'Ghoomer'. «It's indeed an honour and pleasure for us that 'Ghoomer' will be the opening film at the IFFM. Ghoomer is a story of turning adversity into advantage. A story of innovation when faced with extermination. »'Ghoomer' is a tribute to sport and the reservoir of human resilience. It's only fitting for a film that believes that 'Sport makes life worth living' to be launched in the sport capital of the world, Australia, land of the MCG. Welcome to the first preview of 'Ghoomer'," they said.

Swiss private markets investor Partners Group has taken a punt on a seasoned investment banker as it seeks to hone its focus in the Australian market.

Chocoholics may be in for a shock at the checkout after the price of cocoa soared to a 12-year high and heavy rain across West Africa accelerated the spread of a rot-causing disease.