Yesterday
Trump trade war shakes up shipping and ripples to Australia
International shipping lines are cancelling scheduled port calls or entire voyages and some are preparing to idle vessels with crew aboard as cargo volumes drop.
This Month
Sydney Airport takes $46m write-down on deferred hotel, transport hubs
It is postponing some projects as it overhauls its business strategy and prepares to deliver a new 20-year master plan.
James Hardie CEO parties in Florida as shareholders seethe
Aaron Erter was on a Boca Raton pool deck as James Hardie shareholders were left furious by the company’s latest acquisition.
C’est parti! France’s Vinci bids for $3b Cairns, Mackay airports
The French infrastructure player has lobbed a non-binding indicative bid for the North Queensland airports and is up against Sojitz Corporation and Japan Airlines.
Singapore’s GIC to acquire $1b-plus stake in NSW’s Transgrid
UTA’s sale has played out in parallel with fellow shareholder OMERS’ negotiations to sell a 19.99 per cent stake, acquired for $2 billion-plus in 2020, to the Future Fund.
March
Stadium cost blowout latest threat to newest AFL team
The forecast costs were released in an independent report by the Tasmanian Planning Commission, which will decide whether the project should go ahead.
Building giant says low bids from global rivals put projects at risk
The managing director of CPB Contractors says multi-billion dollar infrastructure work is coming unstuck because some big rivals don’t understand local cost.
How the builder of the Sydney Metro is adapting to Donald Trump
Five years after a $1 billion loss, Juan Santamaria has changed the way construction giant CIMIC works to avoid US tariffs and ride the data centre boom.
Plenary anoints new CEO, eyes $3.7b Brisbane Olympics stadium
The CEO change comes as Plenary is preparing to lob a proposal for a new $3.7 billion stadium approved this week for the 2032 Brisbane Olympics.
New York’s Stonepeak test drives $4b-plus bus operator Kinetic’s ANZ biz
Kinetic’s ANZ arm runs the biggest fleet of buses in both countries and generated $1.2 billion revenue last year.
Canadian suitor clucks at Aware’s $1b-plus chicken producer, ProTen
ProTen is being courted by Canada’s Northleaf, US private equity giant KKR and Sydney’s Roc Partners.
New home targets ‘not going to go close to being met’
The leader of Australia’s biggest brick-making group, Brickworks, says Australia still won’t have built enough new homes by 2029 to meet government targets.
In Pictures: Central Station’s hidden clocks
Central Station’s hidden clock tour, a mix of historical and modern clocks.
The AI economy has a massive vulnerability
Subsea cables channel data and power, but they face escalating dangers, and multiple incidents in the past few months have highlighted those risks.
Airport ‘super profits’ back as revenue hits record
Australia’s biggest airports were flush in 2023-34 despite the number of travellers remaining below pre-pandemic levels.
Melbourne blowouts tip John Holland into $55.5m loss
The construction giant slid into the red from a profit of almost $100 million a year earlier due to “project delivery issues” and cost blowouts.
ACCC warning on DP World’s $174m takeover sends Silk shares diving
The purchase of the ASX-listed warehousing and port services group by the global stevedore could lessen competition and send the price of goods higher.
ASIC sniffs at Worley’s $1.4 billion monster block trade
The corporate regulator has been asking questions related to Sidara’s $1.4 billion sale of Worley stock last year.
AustralianSuper’s Indara reviews ‘smart city’ assets as losses mount
Australian Super’s loss-making telcoms tower business, Indara, is reviewing its troubled smart city infrastructure businesses as it searches for a new boss.
February
EV bus builder GoZero clinches $400m valuation; kicks off IPO campaign
Morgans and MA Moelis Australia have been appointed joint lead managers on the IPO and will be in the fast lane for a mid-2025 listing date.
Atlas Arteria tries to claw back $20b in lost returns on US toll road
The ASX-listed company, partially owned by IFM Investors, says the state of Virginia tried to force the Dulles Greenway toll road near Washington DC into bankruptcy.
Worley expects profit boost from Trump energy policies
The engineering group’s shares jumped 11 per cent after it announced a $500 million share buyback and said it would benefit from a resurgence in fossil fuel projects.
Bingo lenders shop debt after S&P downgrade
Sharp-nosed credit funds in Sydney have fielded approaches from New York’s Cantor Fitzgerald, which is said to be shopping a $100 million-plus parcel of Bingo debt.
Whyalla steelworks fallout trips up $1.5b mining contractor
NRW Holdings must hastily redo its half-year result because its Golding business is owed up to $120 million in the collapse of part of Sanjeev Gupta’s empire.
Gupta’s ‘ringfenced’ InfraBuild bought $430m of Whyalla steel
KordaMentha will scrutinise the sizeable related-party transactions in the administration of the stricken steelworks.