Developers want to transform the Intercontinental Double Bay site into a “$1 billion dollar lifestyle destination" while acknowleding its star-studded past. The hotel in Sydney's exclusive eastern suburbs was originally known as the Ritz Carlton, but renamed the Sir Stamford Double Bay back in 2001 and then, after sitting empty for six years, changed again to the Intercontinental in 2014. A syndicate led by developer Allen Linz bought it for $215 million back in March of this year, with construction set to take place between 2026 and 2028. Along with three cinemas, high-end retail and dining, offices, a health and wellness centre it will also offer a boutique 39-suite hotel and 29 luxury apartments across the seven-storey building. The project will be undertaken by COX Architecture, with director Ramin Jahromi saying the design includes a “spectacular atrium with sculptural staircase and striking public art installation, a generous north-facing courtyard, and a six-metre-wide pedestrian walkway". Capitel Group Managing Director, Eduard Litver also wants to celebrate the unique past of this iconic Sydney hotel.Credit: John Matthew Smith, Andwhatsnext / Wikimedia“There’s been Michael Hutchence, Princess Diana, Bill
United States President-elect Donald Trump has nominated a replacement for controversial Republican congressman Matt Gaetz after he withdraw his nomination as Attorney General. Trump announced he planned to nominate former Florida Attorney General Pam Bondi as Attorney General. He said Bondi was tough on violent criminals as a prosecutor for nearly 20 years and, as Florida’s first female Attorney General, she worked to stop the trafficking of deadly drugs and reduce the tragedy of fentanyl overdose deaths. “For too long, the partisan Department of Justice has been weaponised against me and other Republicans - not anymore. Pam will refocus the DOJ to its intended purpose of fighting crime, and making America safe again," Trump wrote in a post on his Truth Social site. Earlier Gaetz wrote on social media site X that it was clear his confirmation was distracting the work of Trump and Vice-Presidential choice J.D. Vance‘s transition team. “I had excellent meetings with Senators yesterday,” Mr Gaetz wrote in the post on X, the social media site owned by another of Trump’s proposed cabinet members, Elon Musk. “I appreciate their thoughtful feedback — and the incredible support of so many. While the momentum was str
Russian President Vladimir Putin announced on Thursday that an experimental ballistic missile had been fired at a military site in the Ukrainian city of Dnipro. In a televised address, Putin framed the attack as a response to Ukraine's recent strikes on Russian targets using Western-supplied missiles, escalating tensions in the nearly three-year-long war. “We believe that we have the right to use our weapons against military facilities of the countries that allow to use their weapons against our facilities,” Putin said. The missile, named Oreshnik ("the hazel"), reportedly targeted the Yuzhmash military facility and was described as nuclear-capable. Putin warned Western nations, particularly the U.S. and U.K., that Russia reserves the right to retaliate against countries providing Ukraine with weaponry. U.S. and U.K. officials believe the missile fired was an intermediate-range ballistic missile (IRBM), capable of reaching Europe but not the U.S. Ukraine initially claimed the missile was intercontinental but later revised the statement, citing its flight characteristics as indicative of an ICBM. "Putin is using Ukraine as a testing ground," said Ukrainian President Volodymyr Zelenskyy, criticising the att
The International Criminal Court (ICC) has issued a warrant for the arrest of Israel’s Prime Minister, Benjamin Netanyahu. The country’s former defence minister Yoav Gallant and the Hamas military leader Mohammed Deif have also been issued warrants. All three have received the charges for alleged war crimes relating to ongoing war in Gaza. This marks the first time that any leaders of a democratic and Western-aligned state have been charged by the ICC. In their official statement regarding Gallant and Netanyahu the ICC wrote that the judges “found that there are reasonable grounds to believe that each has committed the war crime of using starvation as a method of warfare and crimes against humanity of murder, persecution, and other inhumane acts”. They also wrote that they had found reasonable grounds to believe Deif was also responsible for crimes against humanity and war crimes. However, Israel has previously claimed to have killed Deif in an airstrike back in July, and the pre-trial chamber said it would “continue to gather information” to confirm this. The court was established 22 years ago when 124 countries signed the Rome statute and Netanyahu and Gallant now risk arrest if they
Shares in embattled logistics software company WiseTech Global plunged after it lowered expectations of revenue and profits for the current financial year due to the delayed release of a new product, which it blamed on the media and internal changes. At 11.30am (AEDT) WiseTech (ASX:WTC) shares were trading at $123.15, down $15.78 or 11.4%, after trading between $112.12 and $126.59, and capitalising the company at $46.5 billion. The company earlier updated its guidance for financial results in the financial year to 30 June 2025 (FY25), which were originally announced to the market at its FY24 results on 21 August 2024. WiseTech said Interim CEO Andrew Cartledge and the Board, in consultation with founder Richard White, had reviewed the progress of ‘breakthrough products’ including Container Transport Optimization since 24 October, when Cartledge was appointed. “As a result of distractions flowing from the recent media attention and the organizational changes that have subsequently been implemented, the commercial launch of Container Transport Optimization has been delayed,” the company said in an announcement to the Australian Securities Exchange (ASX). “It is now expected to launch in the second half of FY25, re
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Global media business Azzet is joining the growing legion of alternative investment firms tapping the burgeoning private credit market in Australia by launching an offering to private clients seeking higher fixed interest returns on their capital. US-based Azzet Inc. has started rolling out a private credit offering to the Australian market to enable investors to maintain yield on their capital as interest rates begin to fall across major global markets including the United States and United Kingdom. Azzet’s private investment division, Azzet Private, began appointing staff in Australia in recent months as it prepares to release a series of low volatility, capital stable opportunities available to clients with $500,000 or more in investable capital. For some investors, private credit has an attractive risk-return trade-off. It pays a relatively high interest rate and tends to exhibit low volatility relative to publicly traded assets, like corporate bonds. Azzet Private is expecting to attract investors already familiar with non-traditional banking institutions, or those wanting to make the move into private credit. Private credit has become a popular asset class with Australians seeking low-involvement, capital-
Australia's NDIS Minister Bill Shorten has delivered the final speech of his political career. His wife and 14 year old daughter, Clementine Shorten, joined him for morning media appearances to defend Labor’s social media ban for under 16s. Later in the day Shorten gave his final speech to the House of Representatives, opening by acknowledging the difficulties of Parliament as well as its privileges saying that “political life is indeed tough.” The former Labor leader then thanked his wife and three children, calling them his “greatest blessing”. He also gave his thanks to the constituents of the seat of Maribyrnong for their trust and electing him six times over the course of his career, calling it an honour to represent them. He continued by thanking Parliament staff, including security guards and clerks, for “making this building tick”. Reflecting on achievements throughout his time in Parliament, Shorten recalled the passing of marriage equality in 2017, the after effects of Black Saturday in 2009 and more recently the review into NDIS, calling the scheme the “closest” to his heart. Wrapping up, he praised Australia as “the home of the second chance, the land of a fair go” before thanking the Ho
Indian billionaire Gautam Adani, chair of the Adani Group and one of the world’s wealthiest individuals, has been indicted in New York on charges of bribery and fraud. The U.S. Attorney’s Office in Brooklyn alleges that Adani and two other executives conspired to pay US$250 million (A$384.2 million) in bribes to Indian government officials between 2020 and 2024. The payments reportedly secured solar energy contracts projected to yield $2 billion in profits over 20 years. The Securities and Exchange Commission (SEC) also brought charges, describing the allegations as part of a “massive bribery scheme”. Prosecutors claim that Adani and his associates misled investors while raising billions to finance the contracts. Breon Peace, U.S. Attorney for the Eastern District of New York, stated, “The defendants orchestrated an elaborate scheme to bribe India’s officials to secure contracts, and lied about the scheme while raising funds.” Lisa Miller, Deputy Assistant Attorney General, added, “This indictment alleges schemes to pay over $250 million in bribes to Indian government officials, to lie to investors and banks to raise billions of dollars, and to obstruct justice.” The charges come amid broader scrutiny of
Incredibly, the average Australian university vice chancellor reportedly earns almost twice as much as the Prime Minister. Furthermore, they earn substantially more than their respective state premiers. According to the latest data, vice chancellors' salaries in 2023 averaged $1.049 million. The University of Canberra's outgoing Vice Chancellor Paddy Nixon received a $1.785 million package prior to his sudden departure. This is in circumstances not fully explained by management. In contrast, the Prime Minister earns $587,000, less than half of the top paid vice chancellors. The National Tertiary Education Union (NTEU) released its November 2024 report, highlighting several critical issues within Australian universities. The report calls for an urgent federal parliamentary inquiry into university governance and workforce planning. It cites a "deep governance crisis" that threatens higher education institutions' stability and quality. The NTEU points out that universities have spent hundreds of millions on corporate consultants, leading to a "boom-bust" hiring cycle and a lack of workforce planning. The report also criticises university executives' overpayment, noting that 306 executives earn more than their respectiv
