Cadillac is going where Tesla went before
When brands with premium aspirations want to establish a high-profile retail location in Brisbane, the Valley is where they tend to go. Infiniti, for example, had a location here, as did Opel during its brief stint here.
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News.com.au
19 minutes ago
- News.com.au
South Australia shaken by jobs challenges and Premier Peter Malinauskas must be at top of his game
South Australia's foundations are being shaken by global and natural forces, with tempestuous times ahead. In a tumultuous past fortnight, bedrocks of the state economy, employing thousands of people, have been plunged into doubt. Santos, the state's biggest company by far, is the target of an almost $30bn takeover bid by an Abu Dhabi raider, casting great uncertainty over the future of its Adelaide head office. The $368bn nuclear-powered submarine project centred on Adelaide is under threat from a 30-day United States review assessing its alignment with President Donald Trump's America First agenda. Despite some heartening rain, the drought continues to ravage the state's farms – SA primary industries generate $17.1bn annually. State debt was forecast to soar to $48.495bn in the state budget unveiled on June 5, after which the influential S & P Global Ratings warned big new spending ahead of next March's state election could trigger a credit rating downgrade. The purse strings will continue to be tested by the Whyalla steelworks and mine, as the budget set aside $384m in state and federal funds for a potential six-month extension of the state-induced administration. The Malinauskas government might have repeatedly ruled out an ownership stake in Whyalla's steelworks but a $2.4bn state/federal rescue package leaves both on the hook until a new owner is found. Public sector unions are restless. The SA Salaried Medical Officers Association on Thursday rejected a 10 per cent pay rise over three years and recommitted to walking off the job on Wednesday. These are extraordinary and foundational challenges, of varying degrees of concern, to the state economy and, most particularly, the potential for today's aspirational young South Australians to find well-paid, challenging jobs. The risk of Santos's head office leaving Adelaide should not be dismissed lightly. A foreign takeover, as my colleague Giuseppe Tauriello observed on Wednesday, would significantly diminish the last corporate heavyweight left standing in South Australia. Santos dwarfs other SA companies for jobs, investment, sponsorship and general corporate clout. It is four times the size of the state's second biggest firm, Argo Investments, and more than eight times the size of third-ranking Codan. Business success matters in a state where the population is overwhelmingly concentrated in the capital, and most jobs are underpinned by state and federal government spending of some form. Santos and partner Beach Energy in January officially opened a nation-leading Moomba carbon storage project, billed as kickstarting a $600bn industry and hailed by Premier Peter Malinauskas as a 'historic day for our state'. Mr Malinauskas responded to the Santos takeover bid by declaring his government's 'priority at all times is to ensure that South Australian jobs remain in South Australia, and to maintain Santos' headquarters in Adelaide'. This will be a test of his government's mettle and resolve, along with its legislative levers that include ministerial approval for a change in controlling interest of a petroleum resources licence holder, like Santos. Opposition Leader Vincent Tarzia, in his Tuesday budget reply speech, predictably painted a bleak picture of a state ravaged by debt, skyrocketing costs, unaffordable homes and a floundering health care system. Nine months out from the next state election, he vowed to deliver a 'debt management plan' to ensure this was at 'a sustainable level'. Mr Tarzia declared the state was 'at a crossroads'. He was right, although the future is always uncertain. Mr Malinauskas has a strong story to tell on economic confidence, a historically low jobless rate and the state's standing in the nation. But he will be justifiably wary of overconfidence ahead of the state election, even if his opponents are at a historically low ebb in their standing. The state is facing some serious challenges and the Premier will need to be at the top of his game.
News.com.au
19 minutes ago
- News.com.au
‘As a party, it stands alone': Ipswich Cup meeting bounces back from grandstand fire
There were the dramatic scenes of a burning grandstand in the lead-up to last year's Ipswich Cup, but it has been far more smooth sailing this time for officials who are expecting a bumper crowd of more than 12,000 on Saturday. An electrical fire on Cup eve last year saw extraordinary scenes at the popular meeting with the main grandstand empty apart from the racecaller. 'Obviously one aspect we are looking forward to is having people back in the grandstand following the Cup eve fire last year,' Ipswich Turf Club CEO Nathan Exelby said. 'Broadcaster David Fowler cut a lonely figure as the only person in that stand last year. 'Restoration works were completed in October and we're looking forward to seeing our members and guests back in that stand for the 2025 Cup. 'The crowd last year was 12,500 and we are expecting a similar number this time around based on ticket pre-sales. 'The Ipswich Turf Club is proud of the role its TAB Cup meeting plays in the winter carnival landscape. 'It's not a Group race meeting, but as a party, it stands alone. Sean Tou played the role of fireman when he charged into a burning grandstand at Ipswich to save the club's biggest race meeting earlier this year and has pulled off recovery work of a different type in reviving the track after a recent renovation. ðŸ'‡ — Racenet (@RacenetTweets) September 15, 2024 'The combination of the infield festival and the 200m-plus marquee line along the home straight, it is a sight to behold and newcomers to the Cup meeting are consistently amazed at the scope of the event. 'The Brisbane Racing Club do a super job with their carnival, having positioned it as the launching pad to future stardom. 'Ipswich doesn't attract that same level of horse, but we run three very competitive stakes races and another (the TL Cooney) that is knocking on the door of being upgraded to black type status.' While the race day is known for the $250,000 Ipswich Cup, the Listed Gai Waterhouse Classic and Listed Eye Liner Stakes are also key races. It might not be the Group 1 Stradbroke day that we saw last Saturday, but Ipswich has its own iconic spot. 'The weather gods finally tipped their hat to the Brisbane Racing Club and the Stradbroke meeting was simply outstanding,' Racing Queensland CEO Lachlan Murray said. 'Attention now turns to Ipswich Turf Club. 'Nathan Exelby hosted a Calcutta on Thursday night, the first time it has ever been held at the Turf Club itself and it was a good warm up for the Ipswich Cup meeting. 'The weather gods are smiling and the fields are looking good; I expect a great day of racing.' The Ipswich Cup is one of the most attended race meetings in Queensland every year.
The Age
22 minutes ago
- The Age
Tigers rising star hits market early as Souths bid for playmaker to stay
Rising Wests Tigers star Tallyn Da Silva has been given permission to negotiate with rival clubs immediately as South Sydney work toward Bud Sullivan staying at the Rabbitohs rather than returning to the joint-venture next season. Da Silva has fielded interest from Newcastle, along with other unknown rivals, regarding a move with both long- and short-term moves for the young hooker raised this week. Wests Tigers CEO Shane Richardson confirmed discussions between the two clubs had at first centred on loaning Da Silva, who is contracted at Concord for another 18 months, to the injury-stricken Knights for the rest of 2025. Newcastle has since floated a swap deal that would see Da Silva join the Knights in exchange for English back-rower Kai Pearce-Paul taking up his three-year deal with the Tigers (originally for next season) before the June 30 mid-season deadline. Da Silva's agent has in turn requested and been granted permission to go to market before November 1. The 20-year-old local junior is rated one of the best young hookers in the game. Da Silva has told the Tigers his preference is to re-sign at the club, but not if he is to play second fiddle to captain Api Koroisau, who is in negotiations around an extension beyond 2026. Koroisau recently raised eyebrows when he said he 'would be open to' joining the Perth Bears in 2027 but the 32-year-old's preference is to finish his career at the Tigers. A push for an immediate exit has not been ruled out by the Da Silva camp pending his negotiations with rivals.
