Yesterday
Labor’s manufacturing fund takes stake in quantum tech company
The National Reconstruction Fund has taken a $13 million stake in Quantum Brilliance, which aims to build an Australian-first facility to make diamonds used in quantum computers.
- Ronald Mizen
This Month
InfraBuild woes worsen as Gupta moves cash around stricken empire
Confidential documents circulated among bondholders show the industrialist’s local steel assets fell deeper into loss and paid $28.8 million to related parties.
- Simon Evans
November
Generators scramble after NSW’s near miss on blackouts
More than 2000 megawatts of coal power capacity is due back online within 10 days, as generators scramble to avoid a repeat of Wednesday’s close shave on the NSW power grid.
- Angela Macdonald-Smith
NSW grid scrapes through power crisis, bigger test ahead
NSW was set to narrowly avoid blackouts on Wednesday only due to emergency measures, a situation that has unnerved industry and consumers.
- Angela Macdonald-Smith
Administrators called in to probe Gupta’s troubled European empire
A UK court backed ArcelorMittal’s bid to launch an administration process for the parent company of six steelworks owned by Whyalla boss Sanjeev Gupta.
- Hans van Leeuwen
Thyssenkrupp to cut 11,000 jobs at struggling steel unit
The layoff plan would shrink a business that has lost billions of euros to a global steel glut and rising energy prices.
- William Wilkes
Blackout risk lingers in NSW as coal outages hit
The tight electricity supply in the state follows an unusually large number of unexpected outages at coal power units.
- Updated
- Angela Macdonald-Smith
Jarden sues ex-client after getting cut from $300m deal
The investment bank worked on the auction of the commercial sauces and condiments maker but was axed just before a deal with private equity giant Quadrant.
- Jemima Whyte
- Exclusive
- Energy transition
The country’s biggest aluminium smelter says green target unreachable
Rio Tinto-backed Tomago, which uses more power than any other industrial operation in Australia, says renewable energy is too expensive and in short supply.
- Angela Macdonald-Smith
- Opinion
- Chanticleer
Amcor’s whopper $76b tie-up shows it’s ready to rule the world
It’s one of the biggest deals of the year – and the financial numbers are eye-catching. Imagine $US650 million in synergies.
- Anthony Macdonald
Labor’s $15b reconstruction fund makes landmark first investment
Donald Trump’s retreat from the renewable energy transition is good timing for plans to reboot domestic manufacturing, says the National Reconstruction Fund head.
- Tom McIlroy
Orica profit jumps on demand for explosive technology
The chemicals and explosives maker boosted its margins by selling digital blasting technologies and premium products to miners.
- Mark Wembridge
Gupta owes $684,000 to suppliers in Sydney’s industrial heartland
An Australian business owned by one of India’s richest families is among those chasing payments, while Aurizon extends ban of iron ore transport at Whyalla.
- Simon Evans
Sanjeev Gupta strikes deal to stay afloat. For the fifth time
The embattled industrialist and Whyalla steelworks owner has offered his creditors yet another term sheet – one he says is necessary to save his UK operation.
- Hans van Leeuwen
Incitec Pivot unwinds fertiliser business as write-offs spike to $1b
The company’s new chief executive, Mauro Neves, says he wants to offload the division by the end of next year. And he expects strong economic growth in the US.
- Simon Evans
Pratt announces move to the US
One of Australia’s richest men is a member of Donald Trump’s private Florida club, Mar-a-Lago, and has previously voiced admiration for the US president-elect.
- Primrose Riordan
Gupta ‘has reached the end of the road’ on $300m debt, court told
San Francisco investment giant White Oak Global Advisors has given the Whyalla steelworks owner 10 weeks to reach a settlement. He says he’s confident he can.
- Updated
- Hans van Leeuwen
The two different worlds of Sanjeev Gupta
This week on The Fin podcast, Simon Evans and Myriam Robin on Sanjeev Gupta’s flashy property purchase, his financial troubles and the SA town caught in the middle.
CRH’s move on Civilmart secures $400m payday for investors
The Irish giant’s acquisition of CPE Capital’s Civilmart was far from a tiny bolt-on.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Net zero’s uneasy pact with carbon capture and storage
Santos and Beach Energy’s Moomba project hopes to overturn the technology’s weak reputation. Its detractors say it has already had 20 years to prove them wrong.
- Angela Macdonald-Smith
