January
- Exclusive
- Manufacturing
Gupta surprises Davos crowd with a rare appearance. Here’s why
The industrialist has been promising for years to repay creditors owed hundreds of millions. In an interview, he says he is “in the last furlong now”.
- Hans van Leeuwen
Labor pays private equity giant $50m to keep Rex from the scrapheap
Labor has confirmed it will spend $50 million buying out private equity giant PAG Asia Capital, giving the administrators more time to find a willing buyer.
- Ayesha de Kretser
- Opinion
- Casinos
Why Star is like Stephen Hawking’s black hole
The publicly exposed failures of Australia’s casino industry and Star in particular is a case study in geese, golden eggs, hubris and astrophysics.
- Tony Robinson
- Opinion
- Chanticleer
Star talks hinge on $350 million question
Star Entertainment’s Steve McCann is yet to see the whites of his lenders and governments’ eyes. The time is coming.
- Anthony Macdonald
- Updated
- Gaming & wagering
Star asks for tax reprieve after burning through $50m in a month
The casino operator is in last-ditch talks with lenders to ward off a collapse. Both NSW and Queensland have already said they would not offer tax concessions.
- Updated
- Anthony Macdonald and Zoe Samios
Battling Star Entertainment loses the confidence of its banks
Once a $4 billion casino giant, Star could land in voluntary administration within months as its poor financial results discourage lenders and possible bidders.
- Anthony Macdonald and Kanika Sood
- Opinion
- Chanticleer
Cash burn puts Star on its deathbed. Its only hope is a deal
Only a white knight can save the casino operator from becoming Australia’s biggest corporate collapse since Virgin Australia in 2020.
- Anthony Macdonald
Softer inflation, cheaper land offer new home buyers a boost
Builders say cost growth has stabilised. Costs aren’t yet falling, but there are signs of relief in land discounts and even possible rate cuts.
- Michael Bleby
- Exclusive
- White collar crime
Virtical boss may have acted as shadow director after resigning
Administrators say John Palasty controlled key accounts and operations despite resigning from the company that owned Hotel Australasia and a luxury resort project.
- Max Mason and David Marin-Guzman
- Opinion
- Chanticleer
How AusSuper’s big critical minerals bet went belly up
It’s a wake-up call for the companies that think life’s easy when you’re backed by Australia’s most powerful investor. It isn’t.
- Anthony Macdonald
December 2024
Smorgon stoush triggers gold mine fire sale
One of Australia’s most powerful families have pushed their Chinese partners in the Stawell gold mine into receivership.
- Peter Ker
- Opinion
- Chanticleer
ASIC case against Rex throws up questions about $80m bailout
The corporate governance failings alleged by the regulator raise questions about what strings the government attached to its lifeline for the airline.
- James Thomson
Alvarez & Marsal plunders Deloitte to erect local restructuring unit
Two years and 50 partners later, US bigwig Alvarez & Marsal is kicking off an Australian restructuring arm. And it has triggered a mass exodus from Deloitte’s offices.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Big builders enjoy recovery as insolvencies hammer small players
Even as large contractors report stronger earnings, the loss of smaller subcontractors cuts capacity and creates risks for the whole sector.
- Michael Bleby
November 2024
Administrators called in to probe Gupta’s troubled European empire
A UK court backed ArcelorMittal’s bid to launch an administration process for the parent company of six steelworks owned by Whyalla boss Sanjeev Gupta.
- Hans van Leeuwen
- Investigation
- NSW residential property
The tech billionaire, his wife, her ex-husband and a big property deal
WiseTech Global founder Richard White has invested in many ventures, but a disused industrial site is one of the more surprising. It could be a lucrative one.
- Max Mason, Kate McClymont and Nick McKenzie
Forrest hands Hastings a reprieve after chairman capitulates on debt
The billionaire’s private Wyloo Metals business has agreed to withdraw a default notice that would have pushed the rare earths explorer into insolvency.
- Peter Ker
Risks rise in Gold Coast apartment development
As banks focus on smaller and more secure projects, developers of bigger projects are turning to riskier and more expensive sources of credit.
- Michael Bleby
Forrest’s Wyloo declares solvency concerns over Hastings rare earths
Andrew Forrest’s Wyloo Metals has challenged directors of rare earths aspirant Hastings to explain how their debt-laden company remains solvent.
- Peter Ker
‘We gave it everything’: AI start-up calls it quits after raising $60m
Administrators are looking for buyers of the assets of fallen retail company Hivery, which had raised over $60 million from leading VC firms.
- Paul Smith