This migrant family business will knock off Virgin as the biggest IPO
GemLife's roots stretch back to the late 1960s, when Peter Puljich and his now late wife Zdravka moved from Croatia to Sydney's Bondi, following a stint in a Villawood detention centre. Puljich taught himself to render on Bondi Beach's then brick toilet block: 'He used to render it, wash it down, re-render,' son Adrian Puljich says.
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Perth Now
4 hours ago
- Perth Now
Fire breaks out midair on Virgin Australia flight
A fire has broken out midair on a Virgin Australia flight. The blaze started in an overhead cabin on VA1528 from Sydney to Hobart about 9am on Monday, just as the plane began to land. Passengers reported smelling smoke, and when cabin crew opened the overhead compartment, they found a lithium battery on fire. The crew extinguished the fire before landing, and the bag containing the battery was removed once the plane was on the ground. The plane 'landed safely at Hobart Airport' after the incident, a Virgin Australia spokesperson said in a statement. 'All guests disembarked the aircraft, as per standard operating procedures,' the spokesperson said. No passengers required medical treatment. Crew members were assessed by paramedics, but no injuries were reported. The airline is following up with people who were seated nearby. The plane was checked for damage, and a different aircraft was used for the return flight to Sydney. This incident follows a similar one in January, when a fire believed to have started from a power bank in an overhead locker destroyed an Air Busan plane, forcing 179 passengers to evacuate. Air Busan will stop power banks being put in overhead lockers on planes, as a fire safety measure. (AP PHOTO) Credit: AAP The horrific incident has prompted a number of airlines to completely ban power banks in its carry-on luggage to ensure passengers' safety. Back in April, Singapore Airlines went a step further, banning passengers from using their seat's USB charging port to juice up their power banks. 'Effective 1st April 2025, Singapore Airlines customers will not be allowed to charge portable power banks via the onboard USB ports, or use power banks to charge their personal devices, throughout the duration of the flight,' the airline said. 'This means power banks must be carried in cabin baggage on all SIA flights and are not permitted in checked baggage. Customers may bring power banks with a capacity of up to 100Wh without special approval, while those between 100Wh and 160Wh require airline approval. 'We seek customers' understanding that safety will always be our top priority.' Qantas has also cracked down on power banks. 'Baggage fitted with non-removable lithium batteries or power banks are forbidden,' the national carrier said. 'If in checked baggage, the lithium battery or lithium power bank must be removed from the bag. 'The removed lithium battery or power bank must be in carry-on baggage only. 'Non-lithium batteries/power banks can remain fitted in the bag and carried as carry-on or checked baggage.' Virgin Australia has similar rules. 'Spare/loose batteries (including power banks/packs must be in carry-on baggage only and must be protected against short circuit by, placing in its original retail packaging, placing each battery in a separate plastic bag or protective pouch or insulating terminals by taping over exposed terminals,' the airline said. The wide range and growing popularity of portable chargers contributes to rising product recalls. Credit: AAP Experts warn they are 'playing catch-up' with new lithium batteries flooding the market as Australia's consumer watchdog issues a safety alert to any Australian buying the popular wireless chargers. A lack of regulation and soaring demand has contributed to a growing number of wireless power banks getting recalled, experts added. The Australian Competition and Consumer Commission warns 34,000 defective portable chargers are still being used by customers, after a surging number of recalls of the product. The competition watchdog has issued 17 different recalls of power banks since 2020, with more than half being made since 2024. Popular brands including Anker, Baseus and SnapWireless power banks were the most recent products to be recalled. Power banks are portable battery chargers designed to power devices on-the-go. They use rechargeable lithium-ion or lithium-polymer batteries that are highly flammable, can explode or vent toxic gas, the commission says. The uptick in recalls is being caused by more products on the market, a lack of regulation and differing materials inside the models, University of Melbourne head of chemical biomedical engineering Amanda Ellis says. While most power banks are safe to use, a person's safety rests on how they use them, she said. 'We don't have Australian standards for batteries at the moment so that's one of the problems,' Ellis said. 'We don't really know what is in these batteries because it's all (intellectual property) protected, so it's challenging, and more and more people are using them than five years ago.' Some of the ways to lower the risk are following manufacturer instructions, not charging near flammable furniture and never using damaged or leaking power banks, the commission said. 'Some consumers have suffered serious burn injuries, and some have had their property damaged because of power banks overheating and catching fire,' the watchdog's deputy chair Catriona Lowe said. Suppliers offer a full refund or free replacement under the recalls, Lowe said. — With AAP
West Australian
5 hours ago
- West Australian
ASX rollercoaster: After a major market melt-up, a reckoning looms
The Australian share market has been on something of a tear over the past few months, up 11 per cent since the depths of Donald Trump's Kamikaze tariff attack, cresting at an all-time high Friday. It's an impressive run given the economy is barely limping along, interest rates are only ever so slightly on the way down and the global economy is on tenterhooks. Such lofty heights amid persistent uncertainty suggest this bull run has more to do with FOMO than fundamentals and vis ulnerable to any hint of bad news. How else to explain a drop of as much as 2.9 per cent for our largest bank, CBA, 3.4 per cent nearly and 2.75 for ANZ and NAB? The sell-off has been sheeted home to the Japanese election, where the ruling Liberal Democratic Party lost its majority in the upper house of parliament. It's the first time there hasn't been a governing majority since 1955. Market watchers suggest it could derail Japan's economic trajectory, given its high debt levels. That issue seems a long way from Australian banks, which derive the majority of their revenues from domestic lending. Aussie banks were up 30 per cent for the financial year ended, driven by the 46 per cent gain for Commbank. Australia's largest bank has been seen as something of a safe haven in times of uncertainty, popular with domestic and international investors alike for its strong balance sheet and stable earnings. But the company is not shooting the lights out in terms of growth, meaning investors are pushing up company valuations without worrying if it is being met by associated profits. 'CBA is the extreme version of that. On Friday, it was at record levels, and this is despite several years of falling earnings and significant uncertainty around what may happen internationally with tariffs,' said AMP chief economist Shane Oliver. It might be that the FOMO trade is going elsewhere. While banks were sold, miners were gold, with Rio Tinto up 1.5 per cent, Fortescue 1.35 per cent and South 32 up 4.33 per cent. There may also be a bet building on China. Stronger oil and metals prices in recent weeks have stirred speculation Beijing could unleash new stimulus. The iron ore price hit a four-month high thanks to a Chinese plan to build a hydroelectric dam in Tibet. But the base metal has been on the upward slope for four weeks, not due to further stimulus talks however, but a forced consolidation of the sector. In a market that is on the hunt for good news, investors seem to be ready to bid on any opportunities. 'Maybe the market's stepping that out,' Dr Oliver said, though he cautioned that recent Chinese GDP data didn't support that optimism. 'There was nothing in there suggesting China's going to jump in with a big stimulus. I'm less optimistic than the market on that one.' A higher iron ore price will certainly be welcome for miners, but a lot of the market is still relying on a bump from the Reserve Bank cutting interest rates. While that will be positive for corporates, the market seems very confident. Across the ASX200 the price earnings ratio - a metric that shows how much investors are willing to pay for each dollar of a company's profit - is 23 times and well above the long term average of around 17. It is also heading higher, raising questions about whether investors are shovelling money into stocks beyond the bargain hunting in the wake of Trump's Liberation Day tariff announcement. 'Share markets aren't cheap anymore,' Dr Oliver said. 'Maybe they were back in April… but they're not cheap anymore. Valuation measures certainly suggest the market is somewhat expensive.' A similar story is playing out in the US, where the markets have hit new records. That is significantly driven by the dominant tech firms but also in the hope that two key events occur: The US Federal Reserve cuts interest rates, and Trump backs down on tariffs. US markets edged higher on suggestions by one Fed member that rates should be cut, even though Fed chair Powell has indicated no change until the tariff impact can be calculated. The other big hope is the TACO trade. Investors are banking on Trump Always Chickening Out, presuming he will cave in the face of economic fallout. It's a risky strategy, given the still very punitive tariff levies spelled out in recent letters. But the key indicator of market risk, the VIX measure of market volatility, is not much higher than before Trump came to office at 16.41. In April, when tariffs were announced, it spiked above 52. 'That's another indication of the extreme optimism around the TACO trade,' Dr Oliver said. That sets up the current earnings season as a key test of investor confidence. Companies will need to show profit growth that justifies their expanded multiples or risk sharp repricing. While investment firms are banking on those earnings staying benign, early signs suggest company insiders are already wary. According to data from just 10 per cent of corporate officers are buying their own company's stock. That is well below the 10-year average in the high 20s and far off the peaks above 40 per cent recorded in recent years. It leaves investors with quite the dilemma. Sit the current enthusiasm out and miss out on the steady melt up or bank on a combination of factors all working in unison: a tariff climbdown, a Fed rate cut, a Chinese stimulus, and no other destabilising factors. It's heady stuff, and at these levels, markets can easily run out of oxygen.
The Advertiser
5 hours ago
- The Advertiser
2026 Hyundai Palisade: V6 and diesel to be axed in favour of four-cylinder and hybrid
Details of the 2026 Hyundai Palisade have been uncovered ahead of second-generation large flagship SUV's scheduled Australian arrival in late 2025. The new Palisade had already been confirmed to bring a hybrid powertrain for the first time – replacing the existing 2.2-litre turbo-diesel four-cylinder – in order to rival the Toyota Kluger, and Hyundai had previously also said a 2.5-litre turbocharged four-cylinder petrol engine was "under study" for Australia. Now Australian government certification documents confirm the next Palisade will offer a full range of front-wheel drive and all-wheel drive options, powered by both hybrid and non-hybrid 2.5-litre turbo-petrol powertrains. CarExpert can save you thousands on a new car. Click here to get a great deal. No other engines are included in the filing, signalling the end of not only diesel power but also the 3.8-litre petrol V6 from the new Palisade lineup. The Australian Design Rule documents also show the next-generation Palisade, codenamed 'LX3', has again been approved in both seven- and eight-seat interior configurations. Hyundai Australia could not share any details on the new Santa Fe's powertrain options or otherwise when contacted by CarExpert. The Palisade HEV (hybrid electric vehicle) has been granted approval in four model grades – seven-seat front-drive and AWD, and eight-seat FWD and AWD. The Palisade HEV is already on sale in the US, where it's offered in both FWD and AWD layouts, both priced $US1000 ($1537) higher than equivalent petrol-powered versions. In Australia, the HEV is expected to be priced similarly to the existing diesel Palisade, which is currently priced from $70,800 before on-road costs, although Hyundai is currently offering drive-away deals on certain variants. The hybrid system comprises the Hyundai group's 2.5-litre turbocharged four-cylinder petrol engine (T-GDI) and six-speed torque-convertor automatic transmission, but adds a single electric motor powered by a 1.65kWh lithium-ion battery. US-market Palisade hybrids are rated at 258hp (245kW) and 339lb-ft (460Nm) of torque, and while these figures cannot be directly carried over to Australian vehicles, our Palisade hybrid should still out-muscle the turbo-diesel's 147kW/440Nm outputs. That will also make it more powerful than the 3.8-litre V6 in the current model, which makes 217kW/355Nm and has official combined fuel consumption figures of between 10.8-11.1L/100km. Based on overseas specs, the Palisade HEV will be marginally thirstier than the diesel, with average consumption of 8.8L/100km against the diesel's 8.6-8.8L/100km. The Palisade's non-hybrid 2.5-litre turbo-petrol four – already seen under the bonnet of the Hyundai Sonata N Line in Australia, where it makes 213kW/422Nm – has also been approved in seven and eight-seat Palisade, in both FWD and AWD forms. ADR documents also confirm the second-generation Palisade will be larger than its predecessor in almost every dimension, growing an additional 65mm to 5060mm in length on a 70mm longer (2970mm) wheelbase. Overseas specs show no change in cargo volume or cabin space between petrol and hybrid versions. The cabin is expected to feature a 12.3-inch digital instrument cluster and a 12.3-inch infotainment touchscreen, plus a more premium look including 'pixel' lighting elements. Further details are expected to be confirmed by Hyundai Australia as the MkII Palisade's Australian arrival – scheduled between October and December this year – draws near. MORE: Everything Hyundai Content originally sourced from: Details of the 2026 Hyundai Palisade have been uncovered ahead of second-generation large flagship SUV's scheduled Australian arrival in late 2025. The new Palisade had already been confirmed to bring a hybrid powertrain for the first time – replacing the existing 2.2-litre turbo-diesel four-cylinder – in order to rival the Toyota Kluger, and Hyundai had previously also said a 2.5-litre turbocharged four-cylinder petrol engine was "under study" for Australia. Now Australian government certification documents confirm the next Palisade will offer a full range of front-wheel drive and all-wheel drive options, powered by both hybrid and non-hybrid 2.5-litre turbo-petrol powertrains. CarExpert can save you thousands on a new car. Click here to get a great deal. No other engines are included in the filing, signalling the end of not only diesel power but also the 3.8-litre petrol V6 from the new Palisade lineup. The Australian Design Rule documents also show the next-generation Palisade, codenamed 'LX3', has again been approved in both seven- and eight-seat interior configurations. Hyundai Australia could not share any details on the new Santa Fe's powertrain options or otherwise when contacted by CarExpert. The Palisade HEV (hybrid electric vehicle) has been granted approval in four model grades – seven-seat front-drive and AWD, and eight-seat FWD and AWD. The Palisade HEV is already on sale in the US, where it's offered in both FWD and AWD layouts, both priced $US1000 ($1537) higher than equivalent petrol-powered versions. In Australia, the HEV is expected to be priced similarly to the existing diesel Palisade, which is currently priced from $70,800 before on-road costs, although Hyundai is currently offering drive-away deals on certain variants. The hybrid system comprises the Hyundai group's 2.5-litre turbocharged four-cylinder petrol engine (T-GDI) and six-speed torque-convertor automatic transmission, but adds a single electric motor powered by a 1.65kWh lithium-ion battery. US-market Palisade hybrids are rated at 258hp (245kW) and 339lb-ft (460Nm) of torque, and while these figures cannot be directly carried over to Australian vehicles, our Palisade hybrid should still out-muscle the turbo-diesel's 147kW/440Nm outputs. That will also make it more powerful than the 3.8-litre V6 in the current model, which makes 217kW/355Nm and has official combined fuel consumption figures of between 10.8-11.1L/100km. Based on overseas specs, the Palisade HEV will be marginally thirstier than the diesel, with average consumption of 8.8L/100km against the diesel's 8.6-8.8L/100km. The Palisade's non-hybrid 2.5-litre turbo-petrol four – already seen under the bonnet of the Hyundai Sonata N Line in Australia, where it makes 213kW/422Nm – has also been approved in seven and eight-seat Palisade, in both FWD and AWD forms. ADR documents also confirm the second-generation Palisade will be larger than its predecessor in almost every dimension, growing an additional 65mm to 5060mm in length on a 70mm longer (2970mm) wheelbase. Overseas specs show no change in cargo volume or cabin space between petrol and hybrid versions. The cabin is expected to feature a 12.3-inch digital instrument cluster and a 12.3-inch infotainment touchscreen, plus a more premium look including 'pixel' lighting elements. Further details are expected to be confirmed by Hyundai Australia as the MkII Palisade's Australian arrival – scheduled between October and December this year – draws near. MORE: Everything Hyundai Content originally sourced from: Details of the 2026 Hyundai Palisade have been uncovered ahead of second-generation large flagship SUV's scheduled Australian arrival in late 2025. The new Palisade had already been confirmed to bring a hybrid powertrain for the first time – replacing the existing 2.2-litre turbo-diesel four-cylinder – in order to rival the Toyota Kluger, and Hyundai had previously also said a 2.5-litre turbocharged four-cylinder petrol engine was "under study" for Australia. Now Australian government certification documents confirm the next Palisade will offer a full range of front-wheel drive and all-wheel drive options, powered by both hybrid and non-hybrid 2.5-litre turbo-petrol powertrains. CarExpert can save you thousands on a new car. Click here to get a great deal. No other engines are included in the filing, signalling the end of not only diesel power but also the 3.8-litre petrol V6 from the new Palisade lineup. The Australian Design Rule documents also show the next-generation Palisade, codenamed 'LX3', has again been approved in both seven- and eight-seat interior configurations. Hyundai Australia could not share any details on the new Santa Fe's powertrain options or otherwise when contacted by CarExpert. The Palisade HEV (hybrid electric vehicle) has been granted approval in four model grades – seven-seat front-drive and AWD, and eight-seat FWD and AWD. The Palisade HEV is already on sale in the US, where it's offered in both FWD and AWD layouts, both priced $US1000 ($1537) higher than equivalent petrol-powered versions. In Australia, the HEV is expected to be priced similarly to the existing diesel Palisade, which is currently priced from $70,800 before on-road costs, although Hyundai is currently offering drive-away deals on certain variants. The hybrid system comprises the Hyundai group's 2.5-litre turbocharged four-cylinder petrol engine (T-GDI) and six-speed torque-convertor automatic transmission, but adds a single electric motor powered by a 1.65kWh lithium-ion battery. US-market Palisade hybrids are rated at 258hp (245kW) and 339lb-ft (460Nm) of torque, and while these figures cannot be directly carried over to Australian vehicles, our Palisade hybrid should still out-muscle the turbo-diesel's 147kW/440Nm outputs. That will also make it more powerful than the 3.8-litre V6 in the current model, which makes 217kW/355Nm and has official combined fuel consumption figures of between 10.8-11.1L/100km. Based on overseas specs, the Palisade HEV will be marginally thirstier than the diesel, with average consumption of 8.8L/100km against the diesel's 8.6-8.8L/100km. The Palisade's non-hybrid 2.5-litre turbo-petrol four – already seen under the bonnet of the Hyundai Sonata N Line in Australia, where it makes 213kW/422Nm – has also been approved in seven and eight-seat Palisade, in both FWD and AWD forms. ADR documents also confirm the second-generation Palisade will be larger than its predecessor in almost every dimension, growing an additional 65mm to 5060mm in length on a 70mm longer (2970mm) wheelbase. Overseas specs show no change in cargo volume or cabin space between petrol and hybrid versions. The cabin is expected to feature a 12.3-inch digital instrument cluster and a 12.3-inch infotainment touchscreen, plus a more premium look including 'pixel' lighting elements. Further details are expected to be confirmed by Hyundai Australia as the MkII Palisade's Australian arrival – scheduled between October and December this year – draws near. MORE: Everything Hyundai Content originally sourced from: Details of the 2026 Hyundai Palisade have been uncovered ahead of second-generation large flagship SUV's scheduled Australian arrival in late 2025. The new Palisade had already been confirmed to bring a hybrid powertrain for the first time – replacing the existing 2.2-litre turbo-diesel four-cylinder – in order to rival the Toyota Kluger, and Hyundai had previously also said a 2.5-litre turbocharged four-cylinder petrol engine was "under study" for Australia. Now Australian government certification documents confirm the next Palisade will offer a full range of front-wheel drive and all-wheel drive options, powered by both hybrid and non-hybrid 2.5-litre turbo-petrol powertrains. CarExpert can save you thousands on a new car. Click here to get a great deal. No other engines are included in the filing, signalling the end of not only diesel power but also the 3.8-litre petrol V6 from the new Palisade lineup. The Australian Design Rule documents also show the next-generation Palisade, codenamed 'LX3', has again been approved in both seven- and eight-seat interior configurations. Hyundai Australia could not share any details on the new Santa Fe's powertrain options or otherwise when contacted by CarExpert. The Palisade HEV (hybrid electric vehicle) has been granted approval in four model grades – seven-seat front-drive and AWD, and eight-seat FWD and AWD. The Palisade HEV is already on sale in the US, where it's offered in both FWD and AWD layouts, both priced $US1000 ($1537) higher than equivalent petrol-powered versions. In Australia, the HEV is expected to be priced similarly to the existing diesel Palisade, which is currently priced from $70,800 before on-road costs, although Hyundai is currently offering drive-away deals on certain variants. The hybrid system comprises the Hyundai group's 2.5-litre turbocharged four-cylinder petrol engine (T-GDI) and six-speed torque-convertor automatic transmission, but adds a single electric motor powered by a 1.65kWh lithium-ion battery. US-market Palisade hybrids are rated at 258hp (245kW) and 339lb-ft (460Nm) of torque, and while these figures cannot be directly carried over to Australian vehicles, our Palisade hybrid should still out-muscle the turbo-diesel's 147kW/440Nm outputs. That will also make it more powerful than the 3.8-litre V6 in the current model, which makes 217kW/355Nm and has official combined fuel consumption figures of between 10.8-11.1L/100km. Based on overseas specs, the Palisade HEV will be marginally thirstier than the diesel, with average consumption of 8.8L/100km against the diesel's 8.6-8.8L/100km. The Palisade's non-hybrid 2.5-litre turbo-petrol four – already seen under the bonnet of the Hyundai Sonata N Line in Australia, where it makes 213kW/422Nm – has also been approved in seven and eight-seat Palisade, in both FWD and AWD forms. ADR documents also confirm the second-generation Palisade will be larger than its predecessor in almost every dimension, growing an additional 65mm to 5060mm in length on a 70mm longer (2970mm) wheelbase. Overseas specs show no change in cargo volume or cabin space between petrol and hybrid versions. The cabin is expected to feature a 12.3-inch digital instrument cluster and a 12.3-inch infotainment touchscreen, plus a more premium look including 'pixel' lighting elements. Further details are expected to be confirmed by Hyundai Australia as the MkII Palisade's Australian arrival – scheduled between October and December this year – draws near. MORE: Everything Hyundai Content originally sourced from:
