Gupta looks to offshore hundreds of millions to save his empire
Hundreds of millions of dollars on the books of one of GFG Alliance’s Australian subsidiaries could be sheeted home to prop up the ailing parent company, which owes $950m to creditors.
Hundreds of millions of dollars on the books of one of GFG Alliance’s Australian subsidiaries could be sheeted home to prop up the ailing parent company, which owes $950m to creditors.
The credit rating of Sanjeev Gupta’s steel products company InfraBuild has been downgraded with a negative outlook with earnings expected to continue to fall.
Governments of all stripes have tried to halt the seemingly inexorable decline of Australian manufacturing for two decades. The recent Olympics could have just been the clue.
Beston Global Food Company, which failed owing more than $72m, must find a buyer or a bailout to survive, administrator KPMG says.
Fifteen banks have refused to offer the owner of the Vales Point coal-fired power station credit on emissions grounds, creating a red-tape crisis for the company.
West African Resources says the Burkina Faso government has confirmed its gold mining rights in the nation are not under threat.
Rio Tinto has made a takeover approach to Arcadium Lithium which, if successful, would deliver immediate mining and downstream conversion operations globally.
Former uranium miner Energy Resources of Australia will pause a contentious $880m capital raise after the Takeovers Panel decided to review its own decision not to intervene.
West African Resources says it is monitoring the situation after the leader of Burkina Faso’s military junta flagged a gold mining crackdown.
Clients of shuttered foreign exchange trader Prospero Markets, whose managers were involved in a huge money laundering sting last year, look likely to get their money back.
Original URL: https://www.adelaidenow.com.au/journalists/cameron-england/page/3