Hedge fund Totus Capital hit by Santos short and CBA rally
In the Sydney-based short seller's latest update to investors, portfolio manager Ben McGarry said not owning index heavyweights including Telstra – which has accounted for most of the ASX's rally this year – had hit performance.
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West Australian
4 hours ago
- West Australian
Prime Minister Anthony Albanese lands in China's medical capital Chengdu, Port Darwin stance hangs in the air
Anthony Albanese will top his China charm offensive on Thursday with panda diplomacy and spruiking Australia's prowess in the Medical Technology sector after landing in the Sichuan capital Chengdu. Mr Albanese will tour a Cochlear manufacturing and research facility to showcase 'Australian ingenuity, inventiveness and know-how' as he enters the final leg of a six-day tour to turbocharge Australia's economic ties with its largest trading partner. China is one of Cochlear's top five markets, having helped treat 50,000 Chinese patients with hearing loss, and the Sydney-based company launched its Chengdu production facility and international hearing research, innovation and service centre in 2021. Australia is the world's second largest producer of Medtech patents, and the third largest medical device market in the Indo-Pacific, with more than 850 firms and a total market value exceeding $10.5 billion. 'Australian and Chinese researchers, hospitals and universities are driving remarkable progress in every field of medical technology,' Mr Albanese will tell a lunch reception of top healthcare and biomedical tech leaders, including Nobel Laureate Prof Barry Marshall, whose research has revolutionised the treatment of stomach ulcers. Mr Albanese is the first Prime Minister to visit Chengdu since Bob Hawke in 1986, in a three-city tour that has been warmly received by a Chinese government pushing for closer trade ties with Australia as a buffer against the disruption of US trade tariffs. However, clouds remain on the horizon. Earlier on Wednesday, the Prime Minister was forced to dismiss suggestions Australian business could be iced out of the Chinese market over the Government's decision to put the strategic port of Darwin back into Australia's hands. Chinese objections to Labor's election promise to overturn the awarding of a 99-year lease of the port to the Beijing-owned Landbridge group have loomed over Mr Albanese's red carpet reception this week, with state media repeatedly highlighting the controversy. Mr Albanese on Wednesday confirmed that the sale of the port had not been raised directly with him in talks with Premier Li Qiang or Chinese President Xi Jinping, who offered a rare lunch invitation to the Prime Minister and fiancee Jodie Haydon. Mr Li was effusive about the potential for stronger trade ties at a roundtable of Chinese and Australian business leaders in the imposing Great Hall of the People on Tuesday but alluded to the point of contention by urging Australia to create a 'non-discriminatory business environment.' 'We hope that the Australian side will treat Chinese enterprises visiting Australia fairly and properly solve the problems encountered by enterprises in market access, investment review, and other aspects,' Mr Li said. The Global Times, a state-run media outlet, was more direct. 'At present, there are specific issues between China and Australia that need to be discussed, such as the lease of Darwin Port and the expansion of the China-Australia Free Trade Agreement,' it said. 'There are also practical obstacles, especially the tendencies toward 'pan-politicisation' and 'pan-securitisation,' as well as interference from third parties,' it continued in an otherwise glowing account of Mr Albanese's trip so far. Asked during a press conference on the Great Wall of China on Wednesday if he was prepared for Australia to be put back into the deep freeze on the issue, Mr Albanese responded with a straight, 'the answer is no'. The Prime Minister's trip has been centred on repairing business and trade ties after a diplomatic spat under the Morrison government triggered a series of damaging import bans on key commodities, which have since been lifted. Labor has stressed, however, that it will not budge over the cancelling of the Landbridge lease for national security reasons. Mr Albanese told reporters that this was a longheld position 'shouldn't come as any surprise.' However, Chinese officials have protested against changes made to the Foreign Investment Review Board under the previous Government after the port lease was awarded to a Chinese-state owned operator by the Northern Territory authorities. The Government has rejected Beijing's suggestions that Chinese companies are unfairly targeted by rules requiring greater scrutiny in sensitive investment areas. Ahead of Mr Albanese's trip, the Government indicated it would not be prepared to ease restrictions or to accede to Chinese requests for greater cooperation on artificial intelligence capabilities. 'We have a case by case issue when it comes to foreign investment,' said Mr Albanese. 'It is viewed not on the basis of any one country, but on the basis of an objective assessment of our national interest.' He added, 'One of the things that I emphasise - I say the same thing in Beijing as I say in Bankstown - which is that the Australian Government supports free and fair trade. It's in the interests of the world to have free and fair trade, and we'll continue to engage that way.' The Prime Minister also revealed Communist Party Chairman Zhao Leji had agreed to an invitation to lead a National People's Congress delegation to Australia. 'It is very clear that it is in our national interest for us to have a positive relationship with China, where there are differences, to talk about them, but not be defined by them,' he said. Later on Wednesday afternnon, the Prime Minister donned his Akubra hat and to battle stifling humidity at the Sichuan International Tennis Centre, where he oversaw an announcement that the city will host the Asia-Pacific Wild Card Playoffs for the 2026 Australian Open. There was 'no better way' to improve people to people and cultural links between Australia and China than the iconic Australian Open, Mr Albanese told an audience including Australian Open Champion John Fitzgerald, Tennis Australia's Vicki Reid, Governor Shi Xiaolin and rows of young tennis players.
West Australian
6 hours ago
- West Australian
Gelato Messina to open second store in Victoria Park after WA success at Highgate parlour
An East Coast-based ice creamery will throw open the doors to its second location in Perth after demand for its creamy creations has increased. Gelato Messina will open on Albany Highway in Victoria Park on Thursday with a launch party ice cream fans are sure to love. It comes two years after the first Messina store opened in Highgate. To celebrate, limited-edition Rotto buns flavour — cream bun gelato with whipped cream and raspberry purée — inspired by Rottnest Island's famed cream buns will be on offer. It will be available exclusively at the Victoria Park store during launch week. The new store will feature Messina's signature 40-flavour gelato cabinet, with 35 classic flavours and five rotating weekly specials, alongside a range of gelato cakes, house-made dulce de leche jars, and select Messina merchandise. Owner and brand custodian Declan Lee said the team couldn't be happier with the Vic Park site, considering the suburb was where they first set sights on bringing Messina into WA. 'Vic Park was always where we wanted to open our first door, to be honest,' he said. 'We used to go over there and try and scope out locations, and it was probably our favourite location, but we couldn't find the right site, and then we found a really cool site in Highgate Mount Lawley, opened that, and that was fantastic. 'Then something came up in Vic Park, and we found the right site, so we are very excited that that's our second store.' Mr Lee said Perth's response to Messina — founded in Darlinghurst in 2002 — had been exceptional, hence the new store in one of the city's hotspots. 'Perth is a really great city because it's so far away that if you do something there and you do it well, you get rewarded,' he said. 'I think people were kind of really excited for us to come so when we opened the first doors it was absolutely crazy and now we've kind of found our feet there and embedded ourselves with the locals.' With more space to play in this store, Mr Lee is also excited to start rolling out more events, carts and pop-ups around WA with people urged to 'watch this space'. Messina's team of gelato makers and pastry chefs create everything in-house, from baked brownie bits to coulis and caramels. The gelateria even operates its own dairy farm in country Victoria, producing rich jersey milk just for the beloved gelato. There are now 30 stores around the country.
Perth Now
6 hours ago
- Perth Now
Famous gelateria to open in buzzing, food-focused Perth hub
An East Coast-based ice creamery will throw open the doors to its second location in Perth after demand for its creamy creations has increased. Gelato Messina will open on Albany Highway in Victoria Park on Thursday with a launch party ice cream fans are sure to love. It comes two years after the first Messina store opened in Highgate. To celebrate, limited-edition Rotto buns flavour — cream bun gelato with whipped cream and raspberry purée — inspired by Rottnest Island's famed cream buns will be on offer. It will be available exclusively at the Victoria Park store during launch week. The new store will feature Messina's signature 40-flavour gelato cabinet, with 35 classic flavours and five rotating weekly specials, alongside a range of gelato cakes, house-made dulce de leche jars, and select Messina merchandise. Messina in Victoria Park is set to open on Thursday. Credit: Supplied Owner and brand custodian Declan Lee said the team couldn't be happier with the Vic Park site, considering the suburb was where they first set sights on bringing Messina into WA. 'Vic Park was always where we wanted to open our first door, to be honest,' he said. 'We used to go over there and try and scope out locations, and it was probably our favourite location, but we couldn't find the right site, and then we found a really cool site in Highgate Mount Lawley, opened that, and that was fantastic. 'Then something came up in Vic Park, and we found the right site, so we are very excited that that's our second store.' Mr Lee said Perth's response to Messina — founded in Darlinghurst in 2002 — had been exceptional, hence the new store in one of the city's hotspots. 'Perth is a really great city because it's so far away that if you do something there and you do it well, you get rewarded,' he said. Declan Lee at the Highgate store. Credit: Ian Munro / The West Australian 'I think people were kind of really excited for us to come so when we opened the first doors it was absolutely crazy and now we've kind of found our feet there and embedded ourselves with the locals.' With more space to play in this store, Mr Lee is also excited to start rolling out more events, carts and pop-ups around WA with people urged to 'watch this space'. Messina's team of gelato makers and pastry chefs create everything in-house, from baked brownie bits to coulis and caramels. The gelateria even operates its own dairy farm in country Victoria, producing rich jersey milk just for the beloved gelato. There are now 30 stores around the country.
