Japanese retailer expands to Sydney, Rinehart family feud: Midday Roundup

Japanese fashion giant Uniqlo will launch its first Sydney store in the central MidCity shopping centre later this year.

The Fast Retailing-owned retailer opened its first Australian store in Melbourne last month and plans to open up to 50 Australian outlets over the next three years.

The Sydney store will be a large-scale 1485 square outlet selling men’s, women’s, children’s and baby clothes.

Rinehart family feud continues

Gina Rinehart’s daughter Hope Welker has warned her lawyer that her mother and younger sister would be “most annoyed” if she opted out of the family court battle rather than supporting their chosen replacement trustee to oversee Rinehart’s $5 billion family trust.

In an email sent last year, Hope told her lawyer she was incredibly distressed by litigation and wanted to avoid telling siblings John Hancock and Bianca Rinehart that her mother loaned her $45 million for taking to taking a back seat in the family feud.

Markets

The Australian sharemarket has opened higher this morning, thanks to a solid lead from offshore markets.

The benchmark S&P/ASX200 index was up 40.8 points to 5,489.2 at 12.07 AEST, while in the United States the Dow Jones Industrial Average rose 112.13 points or 0.68% to 16,695.5.

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