Optus CEO quits; ASX’s new plan; Macquarie’s guru on what’s next

ASX picks TATA in bid to finally put CHESS replacement bungle to rest
The equity markets operator told investors the first part of the new system would be in place by 2026. ASIC, however, warns there is “still a long way to go”.

Hamish McLennan says his exit from Rugby will ‘create more division’
But the six member unions pushing for his exit say they continue to back chief executive Phil Waugh and plans to centralise much of the administration.

I should have sold two years ago, says vendor of sold $1.33m property
An unusual dwelling failed to sell as an office. When pitched as an apartment, it achieved a different result – but still sold too cheaply for the owner.

Around the world

Argentina elects ‘shock therapy’ libertarian Javier Milei as president
His plans include shutting the central bank, ditching the peso, and slashing spending, potentially painful reforms that resonated with voters angry at the economic malaise.

Biden’s ‘prick’ insult to Democrat loyalist a sign of his decline
A flash of anger by the US president suggests he is in denial about his physical and cognitive ageing.

US fundie Bill Ackman defends Elon Musk over antisemitism backlash
Advertisers have suspended or halted spending on X after its billionaire owner asserted Jewish people “hate” white people.

‘Best cricket World Cup win ever’: England’s former captain on Aussie triumph
By winning the tournament in India, the hardest place to do it, Australia have achieved something the greats of old never did, writes Michael Vaughan.

Matter of opinion

Macquarie’s market guru got 2023 mostly right. Here’s what’s next
Viktor Shvets says investors will dodge recession, and central banks will cut rates sooner than thought. But this won’t be the nirvana that investors hope, writes Chanticleer.

China’s rise as an economic superpower is reversing
The Asian nation’s real long-term potential growth rate — the sum of new workers entering the labour force and output per worker — is now more like 2.5 per cent, writes Ruchir Sharma.

Business life

This $80m gym has everything to hack your health – plus cocktails
From a hot magnesium spa to an altitude chamber, the new fitness club is filled with luxury – and its members can live right next door.

Classic guitar tones made this Young Rich Lister a 150-times return
An Australian start-up that allows record producers to license their signature sounds has taken off for Unified Music founder Jaddan Comerford.

At this Sydney harbour penthouse, the furniture alone is $1m
The apartment at Sydney’s new Kurraba Residences is furnished throughout with pieces from Liaigre, the ultimate French interior design brand.