Australia

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Collapsed Australian Steelmaker Arrium Eyes Sale Of Profitable Moly-Cop Unit

Troubled Australian steel group Arrium Ltd, which collapsed last month after creditors rejected a private equity bailout, will hire a global investment bank to advise on the sale of its profitable Moly-Cop mining supplies unit, the firm's administra ...

Daily Headline - global.abi.org - 05/24/2016 - 00:15 - 0 comments

Clive Palmer To Sue Queensland Nickel Administrators FTI Consulting For $1.2 Billion

Businessman and retiring federal MP Clive Palmer will sue the administrators of his beleaguered Queensland Nickel refinery in Townsville for $1.2 billion, ABC News reported. Mr Palmer said he would sue FTI Consulting in the coming weeks for allegedly lyi ...

Daily Headline - global.abi.org - 05/17/2016 - 22:22 - 0 comments

Super Retail Flags $43 Million In Restructuring Costs

Retailer Super Retail Group will book restructuring costs and write-downs of $43 million this year as its revamps the loss-making Ray's Outdoors chain and fixes an online sporting goods business, The Sydney Morning Herald reported. The one-off c ...

Daily Headline - global.abi.org - 05/04/2016 - 20:50 - 0 comments

Australian Steelmaker Arrium To Get New Administrator

Debt-laden Australian steel maker Arrium Ltd will get a new administrator after the company's major lenders and workers union filed an application in a federal court seeking to have Grant Thornton replaced, Reuters reported. The application seeks to ...

Daily Headline - global.abi.org - 04/12/2016 - 20:49 - 0 comments

Australia Steel Crisis Stalks Turnbull Government

Australia’s government has been dealt a political blow ahead of a knife-edge election, with thousands of jobs plunged into doubt after the country’s second-biggest steelmaker went into administration, the Financial Times reported. The troubles at Arr ...

Daily Headline - global.abi.org - 04/07/2016 - 21:48 - 0 comments

Revision of Indonesia's Negative Investment List

On 11 February 2016, the Indonesian Government released the tenth instalment of its economic stimulus programme. The programme includes new regulations that seek to streamline investment and business licence procedures, and weaken the hold of oligarchies ...

Resource Article - twallace@abiwor... - 04/06/2016 - 16:36 - 0 comments - 0 attachments

McAleese In Exclusive Talks With Hong Kong's SC Lowy Over Debt Restructure

McAleese has started exclusive negotiations with Hong Kong-based hedge fund SC Lowy over a financial restructuring and extended its trading suspension for another month, The Sydney Morning Herald reported. The troubled transport group received three ...

Daily Headline - global.abi.org - 03/30/2016 - 22:14 - 0 comments

Clive Palmer Nickel Plant Closed For At Least Eight Weeks

Australian mining magnate Clive Palmer said on Sunday his nickel refinery in Queensland will be idle for at least eight weeks, due to a lack of ore and because government authorities have not yet fully approved its operation, Reuters reported. Speaking o ...

Daily Headline - global.abi.org - 03/13/2016 - 16:44 - 0 comments

Port Sale Highlights Western Australia’s Sinking Fortunes

The proposed sale of a state-owned iron-ore port in Australia illustrates how quickly the slump in commodity prices has ground down the hopes that once accompanied the country’s resources boom, The Wall Street Journal reported. The lower house of Wes ...

Daily Headline - global.abi.org - 03/02/2016 - 21:43 - 0 comments

Australia's Dick Smith Fails To Find Buyer, To Shut Remaining Stores

Bankrupt consumer electronics retailer Dick Smith Holdings Ltd will close down its remaining 363 stores in Australia and New Zealand after failing to find a buyer, receivers and managers of the company said on Thursday, Reuters reported. "Unfortunat ...

Daily Headline - global.abi.org - 02/25/2016 - 23:06 - 0 comments

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