business
Bathla suspensions point to 'larger storm' coming in construction industry
Under voluntary administration and having stood down two-thirds its staff, embattled property developer Bathla Group leaves dozens of projects in limbo. Source link
Global economy on a financial crisis 'trajectory' as bond markets dive
If inflation remains stubbornly high in Australia, we can expect interest rates to rise and asset prices to go down. But it’s that exact scenario that risks putting the global economy on the trajectory of another financial crisis. Source link
Aussie startup cuts staff, pivots to US after $32m government outlay
Harrison.ai is laying off staff and pivoting to a new US business model, a year after receiving a $32 million investment from the federal government to keep the company in Australia. Source link
Property developer on the brink suspends 60pc of workforce
The floundering property developer Bathla Group stands down 213 staff as it secures two weeks’ worth of additional funding to continue construction at some of its construction sites. Source link
Live: Bathla standdowns start in short-term rescue package, ASX opens higher as oil price rises
Standdowns at the collapsed property developer Bathla have started as its administrator secures a two-week funding lifeline to keep parts of the business running. Follow the day’s events and insights from our business reporters on the ABC News live markets blog. Source link
'Not fair and quite sad': Cohort of workers being underpaid by billions
A cohort of workers in Australia is being short-changed almost $3.2 billion each year — and many bosses are perpetrating the underpayment through 11-digital numbers. Source link
A $3.4b collapse exposes the mess of our housing industry
The collapse of Bathla is a disaster for the national housing supply and affordability project: its now-stalled pipeline of 14,000 apartments represents about 18.5 per cent of new housing stock to be built in NSW this year. Source link
The US-Canada 'divorce' and the $1.2 trillion fallout
The US and Canada are often referred to as North American cousins, but the family feud has turned bitter as their trading relationship falls apart. Source link
ASIC probing hundreds of audit complaints at big four accounting firms
Corporate regulator ASIC tells a parliamentary inquiry major accounting firms KPMG, PwC, EY and Deloitte have revealed 551 complaints in three years about alleged audit misconduct. Source link
Bathla $3.4b in debt and facing work halting at some sites
Bathla Group owes known creditors about $3.4 billion, including $3.08 billion to secured lenders, according to preliminary figures presented at the company’s first creditors’ meeting. Source link