Downer EDI
Australian giants accused of trying to fix prices in multibillion-dollar Defence contracts
Two major services companies have been accused of causing “direct harm” to the Australian government and taxpayers.
- Dominic Powell
Latest
Major investor still sees ‘upside’ for Downer despite fraud allegations
Downer EDI’s largest investor says more work needs to be done to ensure the alleged corruption revealed during an inquiry last week is not an endemic issue.
- Colin Kruger
Scandals put Downer EDI at risk of break-up
The sharp fall in the market valuation of services business Downer EDI means it could be worth more broken up, and speculation is that suitors are circling.
- Anne Hyland
Corruption watchdog targets council, transport staff in new probe
The anti-corruption commission will scrutinise the officials for allegedly awarding contracts to various companies for their own advantage.
- Megan Gorrey
- Opinion
- Governance
Accounting illusion: Downer delivers the latest corporate head-scratcher
It can only come under the category of (enormous) human error or accounting fraud. The investigation now under way at the engineering giant should provide the answer to that.
- Elizabeth Knight
- Updated
- Construction
Downer EDI punished for overstating up to $40m in earnings
The ASX-listed engineering and construction firm has been punished by the market as it investigates whether fraud is behind the “accounting irregularities” in a power maintenance contract that caused it to overstate profits.
- Simon Johanson
The 23-year-old founder turning Australia’s corporates to blockchain
Today Labrys’ clients include $3.8 billion ASX-listed integrated services company Downer, the Solomon Islands Government, and a bevy of high-profile Web3 businesses.
- Dominic Powell
Downer says results back its overhaul strategy, expects transport stimulus
Downer CEO Grant Fenn says the stable earnings of its urban services businesses in the middle of the COVID-19 crisis reinforce why the company is reshaping its operations.
- Darren Gray
Downer in $400m equity raising and corporate overhaul
ASX-listed Downer has unveiled a corporate overhaul including a $400 million equity raising and signalled it is likely to exit from capital-intensive businesses like mining and laundry.
- Darren Gray
More than $400 million blown off Downer after wind farm update
The financial problems of its partner in a wind farm project and a Credit Suisse downgrade have wiped more than $400 million off the value of Downer EDI.
- Lucy Battersby and Darren Gray
Original URL: https://www.theage.com.au/topic/dow-hu