Business

Firmus’ $44b AI dream comes crashing down in IPO disaster.
analysis
Business
Tom Richardson

Firmus didn’t fail on valuation, it failed on credibility

Firmus slashed its IPO price but still couldn’t win over investors. The problem wasn’t the valuation, but a failure to convince fund managers its data centre plans and earnings forecasts were achievable.

Updated
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Companies

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Wesfarmers and SQM's Mt Holland lithium venture.

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The supermarket giant is hiking the price of a household staple as its suppliers face ongoing fuel-related supply chain and operational cost pressures.

Coles to charge more for item bought by almost every shopper

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NAB is the latest bank to confirm it is joining the cull, after ANZ revealed it was slashing 3500 jobs and 1000 contractors.

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Consumers are being urged to shop around for the best grocery deals, though Australia’s third-largest supermarket offers the greatest overall value.

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Markets

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Firmus Technologies has cancelled its float.
updated

The AI dream machine takes a hit with Firmus’s failed float

Business
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A Chinese mining group is fighting to seize control of Far East Gold, while the Australian founders battle to protect their stake in a potentially lucrative Indonesian gold project.
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Concerns over global supply chain disruptions continue to grow in China.

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Oliver Curtis, left, and Tim Rosenfield, right, co-founders of Firmus Technologies.

Firmus float in doubt as investors baulk at $44bn valuation

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Australians are promised $1.6 billion in surcharge savings but rewards cardholders with the big four bank face higher rates, fewer perks and weaker insurance. Here’s everything you’re about to lose ...

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The strong annual result concealed a sudden fall and recovery late in the financial year.

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Australia’s biggest miners may now increase their exposure to copper as they look to diversify beyond the commodity that has long driven the sector.

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Mineral Resources managing director Chris Ellison.

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Energy

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Inpex's Ichthys LNG offshore facilities

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Inpex's Ichthys LNG offshore facilities

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Chief executive Liz Westcott dropped the bombshell as Woodside delivered its first half results on Tuesday.

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International Energy Agency excecutive director Fatih Birol says coal will be boosted as a result of the geopolitical turbulence disrupting energy markets. 

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