Fitch Ratings downgraded Australian steel manufacturer InfraBuild’s Long-Term Issuer Default Rating to ‘CC’ from ‘CCC-‘ on Monday, citing an elevated probability of default on its USD $550 million notes within the next three months. The ratings agency pointed to InfraBuild’s failure to publish audited financial statements for FY24, which were initially due in October 2024…
Satellite-enabled IoT communications business Myriota is expanding its UltraLite low earth orbit (LEO) constellation with four new nanosatellites currently being onboarded. According to a statement from the Adelaide-based company on Wednesday, the satellites were launched on March 14 aboard a SpaceX Transporter-13 mission. They will “continue to bolster” Myriota’s UltraLite LEO constellation, strengthening its IoT…
Packaging and recycling business Visy has announced a new fibre-based insulation liner, designed as a replacement for expanded polystyrene (EPS), is currently being trialled by an unnamed food delivery company. In a statement on Tuesday, it said that Visycell has benefits over EPS of being recyclable via kerbside recycling bins, while also sharing its “strong…
Cyclopharm’s lung imaging technology is breathing new life into the company’s bottom line, with its Technegas product surpassing the million-dollar milestone in US sales, according to Tuesday’s ASX announcement. The Sydney-based company has rapidly expanded its American footprint, with Technegas systems now installed in 27 US medical facilities as of 31 March 2025 – a…
Forbidden Foods reported a 171 per cent increase in net sales for the March quarter compared to the same period last year, according to an ASX announcement on Tuesday. The health and wellness food company achieved $1.1 million in net sales for Q3 FY25, maintaining consistency with the previous quarter following its strategic acquisition of…
Australian manufacturing conditions improved at their fastest pace since late 2022 in March, according to S&P Global data released on Tuesday. The headline S&P Global Australia Manufacturing Purchasing Managers’ Index (PMI) posted 52.1 in March, up from 50.4 in February, marking the third consecutive month above the 50.0 neutral threshold. New orders grew at their…
By Ben Marwick, University of Washington New technologies today often involve electronic devices that are smaller and smarter than before. During the Middle Paleolithic, when Neanderthals were modern humans’ neighbors, new technologies meant something quite different: new kinds of stone tools that were smaller but could be used for many tasks and lasted for a…
Hanwha, Elphinstone sign contract for Redback hulls Hanwha Defence Australia (HDA) and Elphinstone have signed a contract for manufacture of “all 129 vehicle hull structures” for the Redback family of Infantry Fighting Vehicles under LAND 400 Phase 3 program. In a statement over the weekend, HDA said the work by Elphinstone under the contract is…
Researchers have boiled down the qualities that have helped companies thrive during crises, such as online platforms Uber and Alibaba during the Covid-19 pandemic, or Birdseye Frozen Foods during the Second World War. Crises are times “when normal societal functions often deteriorate,” explained Associate Professor Frederik von Briel in a statement from University of Queensland on…