Yesterday
UK fraud agency opens probe into Sanjeev Gupta’s GFG Alliance
The Serious Fraud Office will investigate suspected fraud, fraudulent trading and money laundering in GFG’s financing arrangements.
- Hans van Leeuwen
This Month
Orica hammered by pandemic, sour Australia-China relations
Multi-national explosives company Orica has posted a 54 per cent drop in first-half net profit and is putting its mining engineering unit up for sale.
- Updated
- Elouise Fowler
- Opinion
- Chanticleer
Plan to turn Penfolds into Gucci starts at home
Treasury Wine Estates wants to turn Penfolds into a global luxury brand. First it needs to win more customers at home.
- James Thomson
Can Sanjeev Gupta escape the crisis engulfing his business?
The steel magnate has an uphill battle to refinance after Greensill’s collapse.
- Sylvia Pfeifer, Owen Walker and Kaye Wiggins
Coca-Cola Amatil’s COVID-19 lessons for new owner
Amatil’s strategies, including analysing sales postcode by postcode, will be copied by its new parent as Europe emerges from lockdowns.
- Sue Mitchell
- Opinion
- Chanticleer
Boral investors would be silly to sell to Stokes
Now that Boral has rejected Seven’s takeover offer, we can see the bid for what it is – a giant stock tip from one of Australia’s smartest business families.
- Updated
- James Thomson
China under cloud as A2 Milk downgrades
A2 Milk’s long serving head of Asia, Peter Nathan, resigned as the baby formula maker flagged further issues with older stock, taking provisions for the year to over $NZ100 million.
- Updated
- Carrie LaFrenz
Plant blowout sees Incitec Pivot sink further into Louisiana mire
Fertiliser and explosives maker Incitec Pivot reveals another earnings and profit downgrade linked to troubled ammonia plant in US.
- Brad Thompson
Smash repairer AMA sues former CEO for $2.4m in expenses row
The lawsuit is the culmination of an increasingly acrimonious dispute between Australia’s biggest smash repair business and former CEO Andy Hopkins.
- Liam Walsh
Gupta shakes up Liberty boardroom to tackle Greensill fallout
The British metals magnate has given a four-man team carte blanche to restructure his steel empire, including selling unprofitable assets.
- Updated
- Hans van Leeuwen
Market sees through a stormy period for wind turbines
A secular rise in renewable energy demand shows no signs of flagging. That means Vestas and Gamesa will benefit. Investors should exploit any weakness as buying opportunities.
- The Lex Column
Amcor profits jump on at-home consumption
The world’s largest consumer packaging company has been making strong profits as sales of food and beverages rise.
- Simon Evans
Liquidators reach settlement with Arrium directors
The insolvent trading action brought against Arrium Group’s board of directors and members of management has reached a settlement.
- Max Mason
GE CEO’s $300m pay deal draws shareholder rebuke
Almost 58 per cent of shares voting went against a revised pay deal for Larry Culp at GE’s annual meeting.
- Ryan Beene
Reliance Worldwide hunts for acquisitions in UK, US
The plumbing supplies group is on the front foot looking for bolt-on buys, and eventually wants to own a big European business too.
- Simon Evans
US factory growth eases as supply snags linger
The ISM’s gauge of US factory activity fell to 60.7 in April from a more than 37-year high of 64.7 a month earlier, echoing what’s happening in Europe.
- Reade Pickert
Tesla, under scrutiny in China, steps up engagement with regulators
The company’s change of strategy comes at a time when China is trying to regulate large and powerful private companies, especially in the technology sector.
- Yilei Sun and Tony Munroe
Freedom Foods says Q3 sales slide, pays $4.45m to Perich companies
The UHT milk and plant-based drinks maker backed by the wealthy farming clan is still aiming to have its complex recapitalisation finalised by May 27.
- Carrie LaFrenz
April
Bubs quarterly sales crunched as daigous slow to return
The goat milk baby formula maker also flagged a major strategic shift by cutting its joint venture with China’s Beingmate.
- Carrie LaFrenz
Sanjeev Gupta approaches buyers for engineering assets
Advisers to the billionaire’s GFG Alliance have contacted potential buyers for parts of its engineering business that is largely based in the UK.
- Irene García Pérez and Jack Farchy
