FEAR & GREED | Business News Star board not liable for laundering; Canadian PM wows Albo; airport spend to cost passengers
Mar 5, 2026
A federal court clears Star Entertainment directors despite revelations of large-scale casino money laundering. Mark Carney urges middle-power collaboration on AI, minerals and security. Airports plan $1.5 billion upgrades, with passengers warned they may foot the bill. Mexican-themed fast-food chains lead a surge in new outlets across Australia. NATO downs an Iranian ballistic missile near Turkish airspace.
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Directors Not Liable But Board Failings Exposed
- The federal court found Star Entertainment executives breached duties but did not hold directors personally liable.
- Judge Michael Lee criticised opaque board papers and said investigative journalism and a statutory inquiry first exposed the laundering problem.
Information Overload Erodes Board Oversight
- The ruling spotlighted how board information overload can mask risk.
- Judge Lee described oppressive executive summaries, annexures and two-hour reading windows that undermined oversight.
Middle Powers Should Pool Strengths
- Mark Carney urged middle powers like Australia and Canada to collaborate on AI and critical minerals to reduce reliance on superpowers.
- Carney framed this as building trust-based coalitions to shape outcomes in a 'post-rupture' world.