Anya Lim, 25, was driving on the Anzac Bridge, in the city’s inner west, shortly before midnight in December 2022 when she bumped into a vehicle being driven by Hongyi Zhang, 40, prompting both drivers to get out. The 42-year-old has pleaded not guilty to two counts of dangerous driving occasioning death and one count of negligent driving occasioning death, and is facing a trial in Sydney’s Downing Centre District Court. “We want to make sure taxpayers receive the full dividend from this project, but the fact is we won’t receive that dividend if the Queen’s Wharf Brisbane closes and 1400 people lose those jobs,” he said on Thursday.
“The Star is currently reviewing its financial and liquidity position with various advisers in the context of seeking to finalise its preliminary financial report for the financial year,” the statement said. National economies were plunged into recession and, 16 years later, the public finances of the world’s most advanced economies are still dealing with the consequences in terms of borrowing and debt levels. A week on from the release of a scathing report that declared it was unsuitable to take back control of its lucrative Sydney casino licence, the company’s board confirmed it was in talks over its short-term financial position “in light of adverse trading and other conditions”.
But as is often the case, the enforcers overdo it. Reforms such as improved deposit insurance of £85,000 in the UK, the separation of consumer from casino banking and stronger capital requirements have proved sensible. The Star’s Sydney licence remains suspended after a first inquiry found damning evidence of anti-money laundering and counter-terrorism failings, although it has been allowed to keep the casino operating with a regulator-appointed manager. This does not affect our editorial independence.
* Affiliate links: If you take out a product This is Money may earn a commission. These deals are chosen by our editorial team, as we think they are worth highlighting. But the NSW government has ruled out providing further taxpayer assistance to The Star after giving the casino a reprieve on a planned poker machine tax increase until 2030 in return for a transitional deal that included a jobs guarantee. Tough capital ratios have produced bad outcomes.
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But if the UK wants a vibrant and competitive banking sector, that feels able to address lagging private sector investment and lacklustre productivity, there is a strong case for further liberalisation.