Hydro bomb: Turbine sell off as $593m hydrogen plan disintegrates
Two generators being built for the $593m hydrogen project will be sold off to the highest bidder, but the government still claims hydrogen ‘has a future’ in SA.
SA Business Journal
Sky’s the limit for casino jobs boom – you can bet on it
Adelaide’s SkyCity casino is recruiting for 140 jobs as it undergoes a “multi-year transformation”. Is it a good place to work? Ask Kym – he’s been there since day one.
Steel of a deal: Administrators’ massive pay packet revealed
KordaMentha has worked on some of Australia’s most complex administration cases and command an eye-watering amount an hour. Here’s what the new administration of the Whyalla steelworks will be paid.
Emergency $50m to bail out Whyalla contractors
Businesses owed money by the Whyalla steelworks will have access to an emergency $50m rescue fund, while GFG Alliance entities owed money will be blocked from accessing it.
The pendulum ‘swung too far left’: BlackRock’s Larry Fink
The most powerful investor on Wall Street tells The Australian that corporate culture is ‘undergoing a reset’ away from its progressive outlook. Larry Fink is moving with the times.
‘We need Whyalla steel’: Albo, Mali’s promise to SA
The prime minister and premier have both fronted the cameras in Whyalla to reveal the key details of their $2.4 billion plan to rescue SA’s Steel City. See where the money will go.
SA government’s Whyalla move ‘wrong’, Gupta says
GFG Alliance boss Sanjeev Gupta says the SA government was wrong to put the Whyalla steelworks into administration, but on the upside it would no longer be a drag on his empire.
Mali’s hydrogen pipedream was really dead years ago
Labor’s Whyalla hydrogen folly was threadbare from the start and was always Mali’s biggest gamble, writes Paul Starick.
Taxpayers foot $23m hydrogen bill as Whyalla’s promised plant deferred
Fifty five jobs at the state’s hydrogen office are on the line as the Premier shifts its $593m funding to the Whyalla Steelworks.
Why Goodman’s AI pivot has a big message for investors
The veteran property investor is replaying the strategy that turned a small commercial property trust into a $70bn industrial powerhouse.
Stop dwelling on it – SA urgently needs more land for housing
Fast-tracking land releases in areas already earmarked for growth would help solve the housing crisis, say building industry leaders frustrated by the burden of regulations.
PM announces massive $2bn Whyalla rescue package
Steel city saviour? Whyalla’s long wait for help is over as the PM flies into town with a massive funding package for the steelworks.
Ousted GFG breaks silence after Mali’s Whyalla jobs pledge
Some of the biggest movers and shakers in the country are making a beeline for Whyalla in the wake of the SA government’s bombshell move on Sanjeev Gupta’s OneSteel.
Port Adelaide’s decision on guernsey logo amid GFG crisis
Port Adelaide will wear guernseys featuring the GFG Alliance logo in Friday’s pre-season match against Adelaide, despite the company going into administration.
Whyalla’s forced collapse won’t solve the huge financial mess
Sanjeev Gupta’s opaque empire is built on smoke and debt, but the unprecedented intervention of South Australia will ultimately cause bigger losses for taxpayers.
We had to act to avoid disaster at Whyalla, Malinauskas says
South Australian Premier Peter Malinauskas says putting the Whyalla steelworks into administration was about no less than saving sovereign steelmaking in Australia.
Analysis: Mali’s big gamble paid off in spades
Mr Malinauskas’ political skill has been greatly tested by the Whyalla imbroglio but he has executed the plan methodically, surgically and patiently, writes Paul Starick.
‘Devastating’: Fruit fly ban hits popular SA farm with $250k loss
An SA berry farm will be forced to destroy hundreds of thousands of dollars worth of produce because of an “unfair” fruit fly zoning issue.
Pro-Medicus co-founder eyeing another seafood takeover
Pro Medicus co-founder Anthony Hall’s ambition to grow a seafood production empire continues with a bid launched to take over kingfish farmer Clean Seas Seafood.
Gupta’s steel firm in administration as SA rushes through new laws
Sanjeev Gupta’s Whyalla steelworks will be plunged into administration as the state government launches an extraordinary bid to seize control of the crisis.
The other Whyalla workers paying the price amid steelworks woes
One of Whyalla’s best footy players and his entire family have lost their jobs in the past month. They are among many locals who’ve heard a lot of hopeful claims.
‘We won’t survive’: Why regional sport needs nuclear power
Community sport clubs in Port Augusta are on the brink of collapse, locals say, unless the proposed construction of a nuclear power station goes ahead.
Downer: Whyalla spirals towards State Bank-level disaster
South Australia is facing another economic catastrophe and needs to turn fast towards the industry that could change its fortunes, writes Alexander Downer.
‘A lot of fires going on’: Billionaire Gupta’s global headache
Troubled billionaire Sanjeev Gupta may have flown out of Australia, but his financial investments overseas are also being investigated for fraud as workers face job uncertainty.
Shahins pocket $25m from property sell-off
The Shahin family has scored a $25m payday following the sale of three OTR petrol station sites across Adelaide.
Mali issues legal reminder to Sanjeev Gupta’s GFG directors
Premier Peter Malinauskas has issued a direct reminder to directors of Whyalla steelworks owner GFG Alliance over unpaid debts.
‘Betrayed’: Developer duped us with 20-storey plan, say families
A group of homebuyers in the eastern suburbs have lodged an ACCC complaint alleging a developer company misled them about a planned 20-storey high-rise.
One and done? RBA cools hopes over fast rate relief
In delivering a long overdue rate cut, the central bank has a sobering message when it comes to more.
The $50bn strategic bet that’s set to change BHP forever
The BHP of the future will be less reliant on Australia and even less about iron ore as CEO Mike Henry reshapes the miner. Is it the right strategy?
Let’s LIV it up! North Adelaide reacts to golf deal bombshell
The North Adelaide Golf Club could soon be the jewel in Adelaide’s crowd, according to excited fans – but not everyone is convinced just yet. Have your say.
Could electric cars drive down your power bill?
South Australia has failed to capitalise on its rooftop solar wins, but there’s another opportunity in our driveway, an Australian automotive leader says.
‘Show us the money, Gupta’: New crisis on Whyalla’s horizon
Fed up locals have their say on GFG Alliance’s promise to balance the ledger as the Premier warns of a new problem threatening to spill over.
$2bn Plaza tower will soar to new heights of luxury
Work has started on the second tower that will rise above Festival Plaza and become one of Australia’s most spectacular commercial buildings. See the flythough video
Rail operator’s Whyalla worries
Aurizon has resumed rail services for the Whyalla steelworks, but warns uncertainty over the facility’s future could dent the company’s full-year results.
Fighting fit: BlueScope CEO’s battle plan to cut $200m in costs
Exposed to a trade war on one side and cheap steel dumping by China on the other, the boss of BlueScope goes for attack as the best form of defence.
Sanjeev Gupta targets steelworks break-even by mid-year
GFG Alliance boss Sanjeev Gupta hopes Whyalla will return to break-even by mid-year as rival BlueScope flags a potential interest in the loss-making steelworks.
Family-run Adelaide retail chain launches new brand
The family behind a popular Adelaide sports chain has unveiled a new brand as the company’s founders pass the baton on to a second generation.
Hills fertiliser firm’s global roots are sprouting fast
Exports of Neutrog Australia’s fertiliser have more than doubled in the past year, with the Adelaide Hills company lifting sales in California and New Zealand.
Pirie St office tower up for sale again after legal battle
An Adelaide office tower at the centre of a legal dispute over a failed $58.6m sale has been put back on the market.
‘Actions speak louder’: Mali courts rival steel chief as Gupta leaves Adelaide
The Premier has held top-secret crisis talks with Sanjeev Gupta – hours before being spotted deep in conversation with the boss of a rival steel firm. It comes as Mr Gupta flies out of Adelaide.
New blackout fears – but blame the Vics if they flick the switch
South Australians don’t fully understand how much we rely on interstate coal and gas generators, an industry leader has warned– and that makes us vulnerable.
Cafe owner’s leap of faith after landlord locked the doors
The cafe has been a staple of Christies Beach for more than 30 years, but like many businesses has fallen on hard times.
Cochlear calls for tax reform to be election battleground
Cochlear chief executive Dig Howitt says tax reform and measures to boost productivity should be an election issue, as his company took a hit from cost of living pressures in the US.
Why Mali appears to have lost patience with Sanjeev Gupta
Confidence in Whyalla steelworks owner Sanjeev Gupta seems to have expired and the state government looks to be engineering a new owner, Paul Starick writes.
GFG strikes deal with global creditors
Sanjeev Gupta’s GFG Alliance will sell all or part of the Tahmoor coal mine for about $800m with the money to flow to creditors of the Whyalla steelworks, and is about to settle its global debts.
Town in turmoil: GFG’S debt-ridden mountain to creditors revealed
A list of 1293 creditors to GFG Alliance has been leaked to The Advertiser in a bombshell revealing debts of at least $300m.
Motorists slugged at the bowser while EVs get ‘free ride’
Cash-strapped motorists in outer suburbs are propping up a $25bn fuel tax grab as electric car drivers get “a free ride” by dodging payments.
Bigger the better: Batteries giving Origin life after coal
With a brutal bidding war now a distant memory, Origin Energy boss Frank Calabria is opting for an unconventional path in the race to build out clean energy.
What next for ABC tower block?
The ABC will move its Adelaide studios into the CBD and sell its Collinswood tower, bringing to an end more than 50 years of broadcasting at the landmark site.
Gupta spending millions on himself is a big ‘up-yours’ to SA
While the head of GFG is busy sipping a whisky in his purpose built tasting room, the people of SA have been let down by him and successive well-meaning governments, writes David Penberthy.
Original URL: https://www.adelaidenow.com.au/business/sa-business-journal