City Victoria Financial News

28.08 / 04:17

Target track energy transition clean energy State government red tape cruelling clean energy transition

It might look like Australia is pushing ahead with the transition to wind energy, but a major player in the market believes legislative red tape is slowing down the clean energy transition to a crawl.

25.08 / 06:05

UPS Target FIVE Progressive Gap Strategy Coal’s long goodbye: NSW generator blazes a trail

It’s no longer “on” and then “off” when it comes to Australia’s coal power stations, as developments this week have made clear.

24.08 / 23:31

Strategy Enterprise performer Alinta approached NSW offering to retail Eraring electricity

Alinta Energy has approached the NSW government offering to sell electricity from the Eraring coal power station should the state government secure the extension of the plant’s operating life.

24.08 / 15:11

Provident Lowe's Target BLOCK Fox Danaher Ark Energy accused of ‘greenwashing’ over Chalumbin wind farm

South Korean-owned Ark Energy has been accused of “greenwashing” over its plans for a controversial $1 billion wind farm adjacent to World Heritage-listed rainforests in North Queensland.

24.08 / 07:09

UPS Target Aviat Waters Pool Why this Rich Lister wants to recycle your pizza boxes

Visy boss Anthony Pratt says Victorians can now recycle their pizza boxes without worry after a $42.5 million upgrade to the company’s Coolaroo plant has given it the “most advanced paper recycling technology in the world”.

24.08 / 05:15

COST UPS Provident FIVE Victoria blames Games fiasco on Russia-Ukraine war

The Victorian government has blamed the Commonwealth Games fiasco on Russia’s invasion of Ukraine and 12 interest rate rises in 14 months as Premier Daniel Andrews declined to attend a federal inquiry into the matter.

23.08 / 03:57

COST UPS Provident FIVE Fighting Inside Deal Inside Andrews’ $380m compo deal for the Games

Commonwealth Games officials initially sought a “multibillion-dollar” payout from Victoria’s Andrews government for its cancellation of the 2026 event, and independent mediators were crucial in containing it to a$380 million deal that went down to the wire.

22.08 / 19:35

COST UPS MAIL show Wood pellets maker Altus’ sale kicks off; bids due mid-September

FTI Consulting has given wood pellets maker Altus Renewables’ suitors until September 15 to prepare their indicative bids for the business, which landed in receivership last week.

22.08 / 19:35

UPS FIVE pop Dan Crowley’s Avada adds to its acquisition bounty

ASX-listed traffic management operator Avada Group is back on the acquisition trail, inking a binding agreement to pick up the assets and business operations of STA Traffic Management.

20.08 / 22:29

COST UPS Provident Target social Power Green bank to weigh in on power grid

Australia’s green bank is poised for its first investments in the power grid as it gears up for another busy year after a record 12 months of investment commitments in 2022-23.

18.08 / 14:21

UPS Provident CEO RIO cover Power Deal Alcoa commits to Victoria smelter with AGL power deal

US aluminium group Alcoa has signed up to a new long-term electricity supply contract with AGL Energy for its Portland smelter in Victoria, meaning the energy-intensive plant will be at least partly reliant on coal-fired power at least through to the middle of next decade.

17.08 / 23:43

COST UPS exclusive Coles faces Ocado delivery and cost blowout

Coles Group is on the hook for a further $120 million in costs and 12-month wait following a major delay in the commissioning of its Ocado pick-and-pack fulfilment centre being built in Victoria.

17.08 / 18:01

Sexual assault Canada News debate Is it sexual assault to secretly record consensual sex? Ottawa case sparks debate

Secretly filming and sharing footage of consensual sex constitutes a sexual assault, according to an Ottawa judge’s recent ruling, sparking a debate over how courts view consent in cases involving technology.

14.08 / 22:55

COST UPS Ford performer dividend Power Wine Penfolds power enables Treasury Wine Estates to lift dividend

A strong performance from the high-end Penfolds division has helped Australia’s largest wine group Treasury Wine Estates withstand a tougher consumer spending environment, with demand for more expensive wines still robust even after price rises.

09.08 / 22:57

UPS Progressive CEO Software stage AGL slumps to $1.26b bottom-line loss

AGL Energy has slumped to an annual loss of $1.26 billion due to previously flagged writedowns on its coal power generator, but its underlying profit staged a recovery in line with the guidance it gave the market in June.

08.08 / 07:49

COST Target Southern social dance Brolgas won’t stop Victoria’s energy transition: Andrews

Daniel Andrews says he is confident Victoria can meet its ambitious renewable energy targets despite warnings that strict environmental rules set for a $1 billion wind farm project in the state’s south-west threaten to hinder the energy transition.

07.08 / 08:19

COST Citi Target BLOCK Lawson social It’s easier to build a freeway than a wind farm in Victoria

Andrew Lawson, who runs the Australian branch of Italian renewable energy company Fera after playing a key role in the development of Melbourne’s City Link road project, says it’s much easier to build a freeway in Victoria than a wind farm.

06.08 / 10:11

UPS FIVE Chase Wingate rules off oversubscribed fundraising

Wholesale investors are going gaga for property debt funds.

03.08 / 19:17

COST UPS Provident Target Southern Nielsen show Brolga and bat ruling a ‘death knell’ for Victorian wind farm

Strict conditions set around a proposed $1 billion wind farm in Victoria to protect nesting brolga and a tiny, critically endangered bat have sounded a “death knell” for wind power in the state’s south-west and make renewables targets unachievable, according to the project developer.

26.07 / 15:23

COST UPS NEM show Power Solar Power prices rise 31pc despite wind and solar glut

Power prices surged to their second-highest March quarter in 18 years, despite a glut of solar and wind production that sent prices into the negative during the middle of the day, according to a new report.

20.07 / 07:19

COST UPS Provident Macquarie stake Macquarie pulls pin on pursuit of big stake in EnergyAustralia

Macquarie has ended discussions with Hong Kong’s CLP Group over the possible purchase of a 50 per cent stake in EnergyAustralia, the country’s third-largest electricity and gas supplier, sources said.

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