Struggling game maker takes on onerous loan to stay afloat
Game developer Mighty Kingdom has raised money at an onerous rate to keep the lights on but says it is still working on corporate opportunities which could deliver value.
SA Business
Goldman Sachs gives Foxtel deal the tick of approval
News Corp will have a stronger earnings profile and be better focused on its digital property growth drivers following the sale of Foxtel to DAZN, Goldman Sachs says.
NextDC-backed cloud provider turns takeover target
An underperforming cloud services provider one third-owned by NextDC has found itself the target of competing takeover bids.
Rio Tinto closes in on $10bn lithium mega-deal
Arcadium Lithium shareholders have voted in favour of the all-cash takeover, but hurdles around its Chinese significant shareholder remain.
ASX 200 rises after RBA minutes; St Barbara tanks
Domestic shares closed higher after the release of minutes from the RBA’s last meeting for 2024, which received some support from the IMF overnight. SBM hit with PNG tax bill.
Westpac admits overcharging nearly 25,000 NZ customers
The banking giant faces a hefty fine after it misled NZ customers entitled to advertised discounts and overcharged some of them.
Sports streamer DAZN buys Foxtel in blockbuster $3.4bn deal
New ownership for subscription giant Foxtel and its hit brands Kayo and BINGE is set to shake up Australia’s media and sport landscape.
Whistleblower win awarded to Super Retail
Super Retail has won the first major court battle against its two former most senior female executives turned whistleblowers, but the war is still to come.
Bondi Ponzi scheme promoter avoids jail time
David Sipina, who promoted the fraudulent Courtenay House Ponzi scheme which left creditors owed more than $50m, has avoided jail time after pleading guilty.
Howzat! Behind DAZN’s quest to become Netflix of sport
The UK sports streaming operator has big plans for the way the world watches sport – and Foxtel is set to become a key part of this.
Cooper Investors offloads $41m of Incitec stock
Incitec Pivot says it will forge ahead with asset sales next year, while at the same time warning earnings will take a hit from investment in plant.
There’s a lot to be optimistic about in 2025: Citi Australia
Mark Woodruff, the local boss of US banking giant, says market conditions are turning positive for the coming year.
ANZ’s board ignored a very loud message on bonuses
Qantas, Woolworths and now ANZ have all found out the hard way. On reputation – you go up slowly but come down at high speed.
More lithium M&As on the cards in 2025
Research firm Allens says more M&A activity is expected in 2025, confirming lithium’s positive long-term outlook.
ASX up, Avita soars, St Barbara slumps
ASX keeps the rally going on Christmas Eve as Avita jumps, St Barbara tanks. Meanwhile Bitcoin dips but ‘altcoins’ get some love.
Arcadium goes to Rio, Burley kicks iron ore goals
Arcadium shareholders approve $10 billion takeover by Rio Tinto, with the mining giant hoping to secure its lithium prize by mid-2025.
RBA’s major clue on next rates decision
Struggling Aussie homeowners could get a rate cut sooner rather than later as the Reserve Bank says it is “increasingly confident” about a reduction.
Aussies set to rack up insane credit card debt
Cost of living pressures are causing Aussies to turn to credit this festive season, which experts predict could take years to pay back.
Ray of hope emerges for Aussie economy
A new outlook has forecast the Australian economy is on a “narrow path to a soft landing” and is tipped to improve next year – but there’s a major catch.
ASX snaps grim days-long losing streak
The ASX has surged back and broken a days-long losing streak – after better than expected inflationary data out of the US sent markets higher around the world.
Major change to Aussie cash revealed
A major change to Aussie cash could be on the cards – which would essentially keep cash in the Australian system despite the dominance of card payments.
Major bank’s huge $6.35m error
A major bank has apologised to thousands of its customers who were impacted by an error that led to them being massively overcharged.
More Business News
Mesoblast turns 10-bagger on FDA approval
The company has received US Food and Drug Administration approval for its drug Ryoncil, in a stunning turnaround from a year ago, when the same drug tanked the share price.
Circular economy could return billions with the right action
Australia can add $26bn to the economy over the next decade if it embraces circular economy principles, but there’s still plenty of work to do.
Legal action considered over SkyCity’s money laundering
A litigation funder is considering bringing a legal action against former SkyCity directors and executives over breaches of money laundering laws at the Adelaide Casino.
Aspen to expand Coorong Quays development
Aspen will apply to expand a retirement village on Hindmarsh island after buying a parcel of land from aged care magnate Viv Padman.
Minister’s private hospital forum a ‘dud’, peak group says
The government’s latest attempt to shore up the ailing private hospital sector is a ‘dud’ that will do nothing to prevent further closures, the sector’s peak group says.
Westpac looking for CFO as new boss settles in
An expected spate of executive changes at Westpac are set to occur after the bank’s CFO announced his plans to leave.
Historic first for Aussie space industry
An Australian company has been given first-of-its-kind approval to launch a rocket out of a small Queensland town.
Viterra drops bid to buy South Australian grain handling sites
Viterra has dropped a bid to buy five grain handling sites across SA and Victoria from GrainFlow, after the date for a decision by the competition regulator was pushed back.
Nyrstar cops large write down against Australian smelting assets
Nyrstar has written down its Australian smelting assets at Port Pirie and Hobart by more than $450m, while a Mongolian fraud cost its parent Trafigura more than $US1bn.
‘Flights of fancy’: Government’s travel bill revealed
Taxpayers have forked out a staggering figure on domestic and overseas travel for Premier Peter Malinauskas and his cabinet since Labor took office nearly three years ago.
ASIC slams HSBC inaction in battle against scams
The corporate regulator has taken aim at the Antony Shaw-led HSBC Australia after the bank’s alleged failure to stop scams and fraud resulted in customer losses topping $23m.
Absolutely brew-tiful! The Prospect of a pub is finally here
One of Adelaide’s main entertainment strips in Prospect is finally getting its first pub.
Business bothered by costs, timing
Petter Dutton’s ‘ambitious’ nuclear energy plans would seed confusion into the energy market and potentially deter new investment in the sector business groups say.
My extraordinary weekend within the court of Donald Trump
The incoming president was feted by some of the biggest names in the world at Mar-a-Lago, with an Australian billionaire suddenly back in favour, and a little-known 29-year-old from Perth also among the sea of corporate titans and political operatives.
Qantas engineers’ strike targets biggest travel day
The airline says it’s ‘well-prepared’ for 500 engineers walking off the job on Friday morning with 97 per cent of flights getting away on time in morning peak time.
Fleet Space raises $150m for minerals exploration ambitions
The company will pursue M&A and hire expert staff following a huge capital raise, as it seeks to revolutionise minerals exploration.
Alinta quietly shelves WA offshore wind energy project
The withdrawal of Alinta Energy from WA’s offshore wind race thins the field as concern grows about the industry’s future.
Rex sued for ‘deceptive’ conduct, questions about $80m lifeline
Questions have been raised about the government’s decision to throw Rex an $80m lifeline when it was under investigation for deceptive conduct, with four directors now charged.
500 jobs gone as iconic fashion retailer shuts down
Receivers overseeing the embattled Mosaic Brands retail group will close 160 stores and kill off the once popular Katies chain within weeks.
Crows joins forces with iconic SA brewery
Coopers beers will be exclusively poured in corporate areas on match day under a three-year partnership agreement between the Crows and the iconic SA brewery.
Penfolds to create new ‘China home’ after $27m winery deal
Australia’s iconic Penfolds wine will have a new Chinese home after Treasury Wine bought a controlling stake in a 43-hectare luxury winemaker in China.
Catholic hospitals blocked from private insurer boycott
Catholic Health Australia, whose members provide about a third of private hospital care nationally, will not be allowed to emulate Healthscope’s boycott of private health insurers.
Elders cops second strike over pay
Elders received a second strike against its remuneration report on Thursday, but avoided a spill of the company’s board ahead of a leadership shake-up next year.
It’ll be the end of the vine, say growers, in $20m compo bid
One of Australia’s largest tomato growers say they deserve compensation but the state government says its actions have saved their industry millions.
Insignia knocks back Bain approach
Insignia Financial has rejected Bain Capital’s $2.7bn takeover offer, described by its largest shareholder as “highly opportunistic”.
The worrying warning sign behind Chalmers’ budget update
The commodity super-cycle is rapidly coming to an end, and Australia’s finances are nowhere near ready for this moment.
Setting the grounds for success: Iconic venture listed for sale
One of SA’s oldest commercial properties, impressively restored after lying derelict for 15 years, is looking for a new owner to continue its transformation into a tourism venue.
Power 100: See how our readers ranked SA’s most influential
Did you agree with The Advertiser’s rankings of the state’s most powerful people in the 2024 Power 100? Now see how our readers voted.
Inside new $70m luxury hotel in Adelaide’s north
Adelaide’s northern suburbs has its first premium hotel following the opening of the Crowne Plaza at Mawson Lakes. See inside.
Dollar’s wild ride shows risks of playing with RBA fire
Jim Chalmers’ big shake-up of the central bank is a convenient distraction but unlikely to change the path of interest rates.
Original URL: https://www.adelaidenow.com.au/business/sa-business