Business News Australia

Business News Australia covers important business updates across the nation, with a particular emphasis on local developments. The outlet provides timely news as it happens, along with stories of business successes, innovative leaders pushing boundaries, and companies thriving in the market, regardless if they are emerging startups or well-established public firms. Staffed by a committed group of business journalists, Business News Australia delivers exceptional insights into the accomplishments of top entrepreneurs, executives, and industry influencers.

National

English

Online/Digital

Outlet metrics

Domain Authority

Ranking

Global

#640033

Australia

#20390

Finance/Investing

#232

Traffic sources

Monthly visitors

Articles

Eye health biotech Opthea to cull 65pc of staff

2 weeks ago | businessnewsaustralia.com | Matt Ogg

The announcement, which based on Opthea's most recent annual report implies around 22 staff will be let go, comes as the biopharmaceutical company's shares are suspended from trading while it negotiates its future with development funding investors from Carlyle and its life sciences franchise Abingworth. If Opthea's development funding agreement (DFA) is terminated it may have to stump up "several multiples" of the US$170 million it procured from its partners in FY23.
Mayfly Ventures merges with Oka Studio

2 weeks ago | businessnewsaustralia.com | Matt Ogg

Mayfly Ventures founder Joe Young tells Business News Australia the combined team will have 12 staff and the capabilities to work with larger corporate partners on innovation projects requiring greater depth in product, design, and technical execution. Oka Studio founder Marco Santiago - a former managing director at Josephmark - will join the combined group as chief technology officer and partner, alongside founding partners Joe Young and Geo George.
New tariff threat wipes billions from ASX pharma stocks

2 weeks ago | businessnewsaustralia.com | Matt Ogg

Whilst pharmaceuticals had been exempt from the USA's planned so-called reciprocal tariffs, recent biotech investor sentiment demonstrated scepticism as to whether such exemptions would endure. With reciprocal tariffs set to come into effect at midnight tonight, including an uplifted 104 per cent tariff on Chinese goods in response to China's 34 per cent retaliatory tariffs, today the USA's 47th president revealed pharma would be targeted next.
Home care provider Five Good Friends acquired by TPG

2 weeks ago | businessnewsaustralia.com | Matt Ogg

Just a year shy of its 10th anniversary and now delivering 30,000 home care visits a month, Brisbane-headquartered group Five Good Friends (FGF) has been acquired by global alternative investment manager TPG for an undisclosed sum. TPG reports it has acquired a majority stake, and records lodged with the corporate regulator show $145.3 million was paid for FGF shares by a holding company based out of TPG's offices, which in turn is owned by a Singapore-based entity.
Investors sour on biotech despite pharma tariff exemptions

2 weeks ago | businessnewsaustralia.com | Matt Ogg

Shares in Australian pharmaceutical giant CSL (ASX: CSL) are down 4.3 per cent since US President Donald Trump's 'Liberation Day' announcement, despite a near-immediate response to the securities exchange emphasising that pharmaceutical products are not subject to the reciprocal tariffs. Another Melbourne-based biotech Mesoblast (ASX: MSO) also asserted its tariff exemptions in the immediate aftermath of tariff announcements last week.
AI-led grid flexibility tech startup Gridsight raises $7.5m

2 weeks ago | businessnewsaustralia.com | Matt Ogg

Gridsight, a Sydney-headquartered software startup working with half of Australia's grid operators to optimise energy resources with the help of AI, has raised $7.5 million in a Series A round to help scale its platform, accelerate product development and expand partnerships to meet domestic and global demand. The round was led by Airtree Ventures with participation from Austin-based Energy Transition Ventures, Singapore-based Aera VC, and Australian cricket captain Pat Cummins.
The Star agrees to $300m majority buyout from Bally's

2 weeks ago | businessnewsaustralia.com | Matt Ogg

This evening the Australian gambling and resorts group confirmed it had entered into a binding term sheet worth $300 million with Rhode Island multinational Bally's Corporation, which claims to have "improved more than 20 individual property acquisitions over 15 years in a variety of challenging circumstances".
Dropsuite unitholder Topline ordered not to sell more shares

2 weeks ago | businessnewsaustralia.com | Matt Ogg

When announcing the $420 million takeover offer from NinjaOne in January, Melbourne-headquartered Dropsuite highlighted support for the deal from Californian investor Topline, its largest shareholder at the time with almost a third of the shares on issue. But once the share price had surged following the announcement Top Lane cashed in on the majority of its investment, first winding its holding down to 19.7 per cent, and later down to 10.47 per cent.
Yowie US country manager departs as tariffs bite

2 weeks ago | businessnewsaustralia.com | Matt Ogg

Today the company revealed that its North America country manager Leo Valle would be retiring from 30 April, after announcing a major customer would be recalibrating store layouts to give Yowie products "materially fewer store facings effective immediately". Based on historical sales, Yowie expects the change in store presence will result in up to US$1.9 million in lower revenues annually - or around 13 per cent of the $14.7 million in sales revenue the group recorded in FY24.
Intellihub-backed EVSE buys ENGIE's Australia-NZ network

2 weeks ago | businessnewsaustralia.com | Matt Ogg

Sydney-headquartered electric vehicle (EV) charging solutions group EVSE will increase its presence by more than 230 locations after acquiring the Australia and New Zealand EV charging network of French company ENGIE for an undisclosed sum.