Second basketball team joins court fight against Kestelman’s NBL
The increasingly heated NSW Supreme Court stoush between the Illawarra Hawks’ Jared Novelly and NBL owner Larry Kestelman has been joined by another top-flight basketball team.
Companies
ASIC prepared 17 files on Macquarie in 10 months
The corporate regulator had a long list of issues to raise with Macquarie boss Shemara Wikramanayake and bristled at its ‘legalistic engagement’.
Westpac ‘resisted’ responding to bullying: Rams whistleblower
In her lawsuit against her employer, a Westpac risk officer alleges executives bullied her and failed to act on concerns which she raised about its home loans arm, Rams.
Monash IVF CEO quits after two embryo mistakes
Michael Knaap has quit as Monash IVF boss, two days after the embattled fertility services company revealed a second embryo mix-up in less than three months.
Lendlease’s APPF empire in Mirvac’s sights
In a move which could shape the management of some of the country’s best office towers, Mirvac tops a field of property managers keen on Lendlease’s Australian property funds empire.
Star says Austrac punishment would ‘kill’ casino operator
Star Entertainment says liquidity modelling shows the $400m penalty sought by the financial crimes watchdog for breaches of anti-money laundering laws would ‘kill’ the troubled casino operator.
Fortescue green execs exit shrinking hydrogen dream
Two senior executives have left their posts in the latest management shake-up at the resources giant, founded by Andrew Forrest.
Amazon makes a power play for small to medium businesses
Amazon is looking to turn Australian SMEs into customers with the launch of a new division dubbed Prime for small business.
Rinehart creates WA mega-miner Hancock Iron Ore
As Gina Rinehart announced the 3000-strong workforce of Roy Hill and the contractor-driven Atlas Iron would become a single entity, she couldn’t resist handing some advice to the government.
Austrac denies $400m penalty will bankrupt Star Entertainment
Austrac is pressing for a $400m fine against Star Entertainment for breach of money-laundering laws, denying it could force the collapse of the troubled casino giant.
Shattered dreams behind Tom Peever’s Elution Metals revealed
The man accused of orchestrating an alleged mining fraud said he would extract precious metals from copper mine tailings. The project never got close to happening and a group of investors are owed a fortune.
‘We’re watching’: Financial cop drafted to fight tobacco wars
Australia is becoming a haven for dirty money and much of it is coming from offshore. The boss of Austrac is fighting back.
The admin buster that has created a $270m empire
Sleek, the company behind what it claims is an ‘operating system for small businesses’, has raised $38.5m as it targets giants Xero and DocuSign with its no-frills products.
ASIC trials simplified IPOs to stop the shrinking ASX
ASIC will begin a two-year trial it hopes will turn around the notable decline in the number of companies being floated on the Australian sharemarket.
Empire Energy tweaks fundraising docs after activist group complaint
Gas developers are fighting a new front from climate activists who are turning to sophisticated legal and regulatory diligence to stall or topple projects, even those with government backing.
Private equity bites on the menu for CFS in private markets rush
One of the best investments in the 20 years is buying and selling domestically focused US companies which are likely to be ‘far less exposed to the impacts of tariffs’.
Customers’ wrath unleashed on HESTA after long shutdown
Industry fund HESTA has switched on its new administrator and immediately copped the ire of customers who were locked out for seven weeks and now find themselves in hours-long phone queues.
‘A disaster’: De Bortoli rips out vines as drinkers lose interest
The patriarch of one of Australia’s largest family owned vineyards is doing the unthinkable, and ripping out 40-year-old vines as wine consumption slides.
‘Chinese fairytale’ as agent’s $30m charitable pull applauded
Monika Tu is no stranger to an award, but after spearheading $30m in charitable giving, the most fashionable realtor in Sydney’s eastern suburbs can add an OAM to her mantlepiece.
Optus courts other satellite deals after Musk’s failure to launch
As Telstra beat its rivals in the satellite race and Optus’s much-hyped Starlink deal stalls, the telco has been forced to seek new partners in the coverage war.
Mystery buyer nabs Sydney’s swankiest apartment for $80m
After years languishing on the market, Crown’s penthouse is about to be sold for a $20m discount to its original asking price of $100m back in 2019.
Musk feud: Tesla has more to lose while Trump wields the power
EV maker Tesla’s board, headed by Australian former Telstra executive Robyn Denholm, needs to rein in its out-of-control chief executive.
Industry funds clash amid bitter airport dispute
The backers of one of Australia’s biggest airports have sensationally turned against each other, seeking to force the exit of the biggest investor.
Maggie Beer Holdings sells Paris Creek Farms for huge loss
The gourmet food company inspired by celebrity chef Maggie Beer has sold a struggling dairy business, but only after accepting a huge multimillion-dollar loss.
Rural property tycoon lists $15m Murray riverfront estate with rival
Prominent dealmaker’s holdings hit the market following an investment loss and settlement of bitter legal dispute.
Mongolian political storm changes calculus for Rio’s CEO search
A political scandal in Mongolia could have implications for one of Rio Tinto’s prized mines as well as its hunt for a new chief executive.
Hermes super fans hold luxury retailer to super profit
Fashion house Hermes has doubled its Australian profits in the past five years as appetite for its arm candy renders it impervious to the cost of living pinch.
Construction costs are easing – just not in Brisbane
The cost of building is slowly easing across most of Australia – but one capital city is facing bone-rattling inflation that puts big projects at risk.
Faith in flying banking sector over miners a risky move
Australian banks have outperformed the miners since late 2023 but Citi believes having too much emphasis on the financials could pose a ‘material risk’ for investors.
Star sold ‘dummy’ hotel rooms to cover Chinese gaming money
Star Entertainment issued receipts for ‘dummy’ hotel rooms of up to $250,000 a night as part of a deliberate effort to evade currency flight laws in China and funnel funds into its casinos, the Federal Court has heard.
Original URL: https://www.theaustralian.com.au/business/companies/page/2