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Australia/Oceania

News Corp Sells Foxtel to DAZN for A$3.4 Billion Amid Streaming Challenges

A$3.4 billion $2.1 billion, including debt, News Corp has agreed to sell its Australian cableTV division, Foxtel, to British sports network DAZN as pa

A$3.4 billion $2.1 billion, including debt, News Corp has agreed to sell its Australian cableTV division, Foxtel, to British sports network DAZN as part of a plan to adjust to the difficulties presented by streaming services. The agreement gives DAZN the streaming rights to the Australian Football League and National Rugby League, while News Corp keeps a 6% ownership in DAZN and gets a seat on the board. Due to its struggles with dwindling income and growing sports broadcasting costs, Foxtel has shifted to streaming services. News Corps concentration on its primary business activities, including publishing and digital real estate, is evident in this deal. In the latter part of 2025, the agreement is anticipated to close. Read More..

B2B Tech News | 25 days ago         

Arcadium Lithium Shareholders Approve $6.7 Billion Sale to Rio Tinto with 98% Vote

Ninetyeight per cent of shareholders of Arcadium Lithium voted in favour of the $6.7 billion sale to the massive Australian mining company Rio Tinto.

Ninetyeight per cent of shareholders of Arcadium Lithium voted in favour of the $6.7 billion sale to the massive Australian mining company Rio Tinto. Arcadiums shares increased by almost 7% in extended trading after the news. With the purchase anticipated to finish in mid2025, Rio Tinto will overtake Albemarle and SQM as the thirdlargest lithium miner in the world. However, several shareholders have filed a lawsuit against Arcadium, claiming that the company was negligent and misled about the transaction. Rio Tinto agreed earlier this year to purchase Arcadium for $5.85 per share, almost 90% more than the stocks closing price on October 4. Through the acquisition, Rio Tinto will have access to Arcadiums lithium mines, processing plants, and important clients, such as Tesla and GM, in several nations. Read More..

B2B Tech News | 26 days ago         

Alcoa to Receive 130 Petajoules of Gas from Chevron Starting in 2028

On Tuesday, Chevrons Australian division declared that it would provide Alcoa, the aluminium manufacturer, with 130 petajoules of gas over ten years,

On Tuesday, Chevrons Australian division declared that it would provide Alcoa, the aluminium manufacturer, with 130 petajoules of gas over ten years, beginning in 2028. The North West Shelf Venture in Western Australia and Chevrons Gorgon and Wheatstone facilities will supply the gas. Alcoa intends to power its alumina plants in the area with natural gas. Alcoa already signed gas supply contracts with Exxon Mobil, Chevron, and Warrego Energy to support its refineries in Wagerup, Pinjarra, and Kwinana beginning in 2024. Nevertheless, the business has encountered operational difficulties, such as a gas interruption that resulted in a power outage at its refinery in Pinjarra, which is presently under investigation. Read More..

B2B Tech News | 1 months ago         

Australia Penalizes Bit Trade $5.1 Million for Unlawful Credit Facility Offerings

Bit Trade, the regional operator of the cryptocurrency exchange Kraken, has been fined A$8 million $5.1 million by Australias corporate regulator for

Bit Trade, the regional operator of the cryptocurrency exchange Kraken, has been fined A$8 million $5.1 million by Australias corporate regulator for illegally providing a credit facility to more than 1,100 clients. According to the Australian Securities and Investments Commission ASIC, Bit Trade lost more than $5 million due to improperly determining whether clients were eligible for its margin trading product. This product enabled margin extensions, effectively loans or credit that may be repaid with traditional currencies like the US dollar or digital assets like Bitcoin. In August, the Federal Court of Australia declared that this offering qualified as a credit facility, which requires a precise target market analysis to shield investors from potentially hazardous goods. Read More..

B2B Tech News | 1 months ago         

India and Australia Advance Negotiations on Comprehensive Economic Cooperation Agreement CECA

According to a statement released by the U.S. Department of Commerce, India and Australia are moving closer to completing the Comprehensive Economic C

According to a statement released by the U.S. Department of Commerce, India and Australia are moving closer to completing the Comprehensive Economic Cooperation Agreement CECA. Negotiators from both nations focused on market access that supports Indias food security objectives during a threeday meeting from December 46. Topics covered included mobility, agritech collaboration, trade in commodities and services, and more. Ravi Kewalram led the Australian team, while Rajesh Agrawal led the Indian mission. Both parties voiced optimism about the CECA after notable progress in the 10th round of negotiations in Sydney in August, highlighting possible cooperation in supply chain resilience, market access, and agricultural innovation. The CECA addresses government procurement, competition legislation, and digital trade. Read More..

B2B Tech News | 1 months ago         

Australia’s Central Bank Holds Interest Rates Steady at 4.35%, Signals Confidence in Inflation Control

In a softer stance on inflation, Australias central bank said it has "some confidence" that inflation is returning to target levels, maintaining inter

In a softer stance on inflation, Australias central bank said it has "some confidence" that inflation is returning to target levels, maintaining interest rates at 4.35% during its yearend meeting. The market anticipated a possible rate decrease in February, with full easing expected by April, and the Australian dollar fell 0.8% to $0.6380 as threeyear bond futures increased. Despite the temporary government subsidies that caused headline inflation to decline to 2.8% in the third quarter, core inflation is still stubbornly high at 3.5%. Along with dismal economic growth figures, analysts predict that the RBAs departure from a hawkish stance may trigger a dovish turn and potential rate decreases in early 2024. Read More..

B2B Tech News | 1 months ago         

Woodside Energy Signs EPC Contract with Bechtel for Louisiana LNG Project

Woodside Energy Group and the U.S. company Bechtel signed a contract for engineering, procurement, and construction on Thursday with their Louisiana l

Woodside Energy Group and the U.S. company Bechtel signed a contract for engineering, procurement, and construction on Thursday with their Louisiana liquefied natural gas. Three manufacturing trains totalling 16.5 million tonnes per year will have their foundations developed with the help of this EPC contract. With total planned expenditures from December through the first quarter of 2025 estimated at up to $1.3 billion, Woodside intends to make a final investment decision FID by then. According to previous projections, the foundation development will cost between $900 and $960 per tonne of LNG. This aligns with Woodsides $1.2 billion purchase of developer Tellurian Inc. in October. The project is approved for a 27.6 million tonne yearly capacity. Read More..

B2B Tech News | 1 months ago         

RBA Reports Limited Risks from NonBank Lenders Amid Rising Interest Rates

There are currently few dangers from nonbank lenders in the securitisation market, according to the Reserve Bank of Australia RBA. Mortgage arrears ar

There are currently few dangers from nonbank lenders in the securitisation market, according to the Reserve Bank of Australia RBA. Mortgage arrears are manageable because households and companies have been supported by the robust labour market, even in the face of rising interest rates. According to the RBA, the scale of the nonbank lending market and its sparse links to the more extensive financial system reduce possible hazards. Although it is cautious, the central bank believes that the financial sector is resilient. Read More..

B2B Tech News | 1 months ago         



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