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Business news from Australia and around the world: companies, deals, earnings, regulation and the people running them.

1832 articles · page 15 of 39

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Forrestania Resources on track for December gold production restart at Edna May

Forrestania Resources has confirmed first ore from its Johnson Range mine has been delivered to the Edna May run-of-mine pad in Western Australia, putting the company on a fast track to restart gold production in mid-December. The company said project execution risk has been materially reduced, with a new mill liner shipment underway for a late-November arrival and the first cell of its tailings storage facility nearing completion. Western Australia's tightly regulated tailings framework requires formal approvals for new cells and substantial facility changes.

·2 min·2 sources
Business

Aurum Resources reports further high-grade gold hits ahead of Boundiali resource update

Aurum Resources has reported additional high-grade gold intercepts, including a bonanza 0.65-metre zone grading 41.38 grams per tonne, from drilling at its BST1 deposit in Côte d’Ivoire, West Africa. The results, released ahead of a key resource update expected by the end of October, extend mineralization beyond the existing 570,000-ounce resource and could support an expanded project resource.

·2 min·2 sources
Business

Tech debt insurance costs hit record highs as CoreWeave leads surge in AI financing fears

The cost of insuring against default on big technology firms' debt has soared to record highs, led by heavily indebted data centre operator CoreWeave, reviving concerns about how the artificial intelligence build-out is being financed, analysts say. This week, the spread on CoreWeave's five-year credit default swaps (CDS) jumped 16 percent to a record 1.14 percent before easing slightly to 1.03 percent, according to market data.

·3 min·2 sources
Startups

Ramp raises $1.85 billion at $60 billion valuation as AI push accelerates

Ramp, the expense management and financial operations platform, announced on Thursday that it has raised $1.85 billion in new funding, valuing the company at $60 billion just four months after a $44 billion valuation. The round was co-led by Dragoneer Investment Group, Thrive Capital, Founders Fund, Sands Capital, and Avenir Growth, with participation from a lengthy list of other investors including Fidelity, T. Rowe Price, Coatue, and General Catalyst.

·2 min
Business

TSMC chip capacity becomes fierce battleground as AI demand drives record quarter

Taiwan Semiconductor Manufacturing Co. (TSMC) has posted a record profit for the sixth straight quarter, but the results highlight an intensifying struggle: the company cannot make chips fast enough to satisfy the artificial intelligence industry's insatiable demand. With customers including Nvidia, AMD, Apple, Google, Amazon, Microsoft, Meta and OpenAI all competing for limited factory space, analysts warn that capacity constraints could soon become a bottleneck for the entire AI sector.

·2 min·2 sources
Business

TSMC scouts US datacenter readiness as it plans billions in new chip capacity

Taiwan Semiconductor Manufacturing Co (TSMC) is sending personnel to assess the construction and power availability of US datacenters as it prepares to invest billions of dollars in additional chipmaking capacity, chairman and CEO C.C. Wei said during the company's third-quarter earnings call. While AI demand remains strong enough to outstrip supply, Wei warned that consumer and price-sensitive market segments face pressure from rising component costs and macroeconomic uncertainty.

·3 min
Business

Healey Vows 'Breathing Space' Budget as IMF Backs UK Fiscal Plan

Chancellor John Healey has pledged to deliver a budget that gives British consumers and businesses a "breathing space" when he delivers his first tax and spending statement on 28 October, while insisting the government will stick to Labour's fiscal rules. Speaking in Bangkok after the International Monetary Fund annual meetings, Healey acknowledged rising costs but declined to be drawn on specific tax measures.

·2 min·3 sources
Business

Two dead, one seriously injured in explosion at Intel's Israeli chip plant

Two workers were killed and a third seriously injured in an explosion at Intel's Kiryat Gat plant in southern Israel on Wednesday, according to The Times of Israel. Police suspect a gas cylinder malfunction caused the blast, and fire crews said the fire involved nitrogen trifluoride, a toxic gas used to clean chipmaking equipment. Intel has not commented on the victims or on potential production impacts.

·2 min
Business

Federal Court documents reveal detailed allegations against former Super Retail boss

Federal Court documents released on Thursday have laid out the Australian Securities and Investments Commission's detailed allegations against former Super Retail Group chief executive Anthony Heraghty. The statement of claim alleges Heraghty had a romantic relationship with the company's former HR boss Jane Kelly between February and at least July 2022, that the relationship resumed in 2023, and involved overseas trips and hotel stays. ASIC is suing Heraghty for allegedly breaching his directors' duties and providing misleading information to the board and the financial market about the relationship.

·2 min·5 sources