Haines tributes as pollies return; crunch time for super; Halloween spending
Published: October 26, 2026
Haines tributes as pollies return; crunch time for super; Halloween spending
News in brief
Ingenia Communities’ bidding war: Property developer Ingenia Communities has received a $3.2 billion takeover proposal from Avid Property Group, backed by Brookfield and Abu Dhabi's Mubadala. The $5.40-a-share offer beats rival Warburg Pincus's $5.30 bid. Ingenia has granted Avid six weeks of exclusive negotiations.
Superannuation test: Regulators are warning Australia's $4.8 trillion superannuation system faces new risks as 2.5 million Australians approach retirement. APRA and the Reserve Bank are concerned that rising withdrawals, a major market downturn and a potential cyberattack could combine to destabilise funds and amplify financial market losses.
NextDC boss sacrifices bonuses: NextDC chief executive Craig Scroggie will forgo millions in potential incentives following last week's disastrous earnings downgrade. Chairman Douglas Flynn will also step down after the data centre operator lost almost $3 billion in market value. Class action lawyers are investigating whether investors were adequately informed about delays to a Melbourne project.
Australians still finding money for Halloween: Despite cost-of-living pressures, Australians are expected to spend around $510 million on Halloween this year, up two per cent. Fewer households are celebrating, but those participating are spending more. Bunnings reports strong demand for decorations, contrasting with weak sales across other discretionary retail categories.
Lula wins fourth term as Brazilian president: Brazil's left-wing president Luiz Inácio Lula da Silva has won a fourth term, defeating Flávio Bolsonaro with 52 per cent of the vote. Bolsonaro has disputed the result and called for it to be annulled. The outcome bucks a regional shift towards right-wing governments and could heighten tensions with Washington over trade and environmental policy.
Fear-o-meter
VanEck's Deputy Head of Investments, Jamie Hannah on gold falling below $US4,000 an ounce:
"It may be a golden opportunity for investors with the price of gold falling below US$4,000 and creating a compelling entry point for investors that missed the gold rush earlier this year.
"Despite a 28 per cent pullback since its January peak, the tailwinds for gold remain intact. Central banks continue to buy gold, led by China and Poland. The war between Ukraine and Russia continues and the upcoming US midterm elections may further heighten tensions in the Middle East. Both these conditions drive the gold price as the precious metal's appeal as a safe haven asset strengthens during global economic and political instability.
"In our view this recent sell-off was driven by a variety of factors linked to US interest rates and oil inflation. However, we think the demand and outlook for gold remains strong and we see further upside following this drop in price. We also think that gold miners will be beneficiaries of this upside, as they are currently trading at lower multiples than its long-term average.
"We expect this fall in price will renew interest in gold. It presents an opportunity for investors to buy into gold at a lower price and either gain or further build upon their gold exposure."
Fear & Greed Q+A today
In the first episode of Extraordinary Business Stories, a special four-part Fear & Greed Q+A series brought to you by Telstra, Sean Aylmer and Michael Thompson speak with Lindsay Marchment from The Man Cave and Clare Lilley from Hobart Exercise Physiology, two Change Award State Winners in the 2026 Telstra Best of Business Awards, about changing lives, measuring impact and balancing purpose with the realities of running a business.
Lindsay Marchment, The Man Cave: "We lead with heart. We've had a lot of heart focus in the development of our mission and vision. But just leading with the heart doesn't necessarily always mean that money's going to come in to fund the impact that we want to make. So we've had to really balance that sustainable business model with the impact that we're trying to create."
Clare Lilley, Hobart Exercise Physiology: "Developing that culture and finding the balance between it not always just being money driven, but also the why and making sure that we're really clear on our mission and our goal has been really, really important. Lots of reflection. We can be going really well for a couple of years and then kind of hit a bit of a crossroads and go, what is it that we need to change?"
Parliament tributes to Haines as Coalition rejects EU trade deal
Federal parliament has returned with emotional tributes to independent MP Helen Haines, who lost both legs in an alleged deliberate attack outside her electorate office last week.
An orange cockatoo, a symbol of independent campaigns in Haines' Victorian electorate of Indi, occupied her vacant seat in the House of Representatives.
Prime Minister Anthony Albanese warned that rising anger and aggression were damaging public debate, while Deputy Prime Minister Richard Marles described Haines as a beacon of decency.
Opposition Leader Angus Taylor called the attack an assault on Australian democracy, but rejected suggestions of a direct link between parliamentary debate and political violence.
Question time was more subdued than usual, although a major political battle emerged over Australia's proposed free trade agreement with the European Union.
Taylor confirmed the Coalition would oppose the deal in its current form, arguing it failed to deliver meaningful access to European markets for Australian industries, particularly dairy and red meat.
Greed-o-meter
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It’s not just Australia struggling to attract new sharemarket listings. After a huge burst of activity around the SpaceX IPO on Wall Street, the US market has also slowed dramatically. According to Bloomberg, October is on track to be the quietest month of 2026 for US IPOs, as uncertainty over artificial intelligence and falling share prices for companies like CoreWeave make investors nervous. Now all eyes are on AI giant Anthropic, which is expected to list next month, with hopes its debut could help revive the market.