Chanticleer
Australia faces disruption on steroids
Iron ore billionaire Andrew Forrest’s ambitious plan to turn Australia into a green steel powerhouse was one of the highlights of a tumultuous week in business.
A tumultuous week in Australian business drew to a close on Friday with the market digesting the prospect of mammoth disruption in energy while coming to terms with game-changing moves in telecommunications and wealth management.
The market focus was on Fortescue Metals Group, which is making dire predictions about the future of fossil fuels; AGL Energy, which is widely tipped to break itself into coal and non-coal assets; AMP, which looks like losing its CEO; and TPG Telecom, which lost its chairman, David Teoh.
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