Brookfield's Neoen weighs offloading SA's Hornsdale Wind Farm
The Canadian asset manager spent $10 billion buying the French renewables developer, and its sprawling Australian assets, but was forced to offload the Victorian portfolio to defray competition concerns. Thankfully, David Di Pilla's HMC Capital turned up and secured the asset.
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9 News
19 minutes ago
- 9 News
Fortnite creators handed Australian court win over Apple and Google
Your web browser is no longer supported. To improve your experience update it here Epic Games, the company behind the popular online game Fortnite, won a partial victory in an Australian court yesterday. The case was brought by US billionaire chief executive Tim Sweeney, who claimed that Google and Apple engaged in anti-competitive conduct in running their app stores. Federal Court Justice Jonathan Beach upheld key parts of Epic's claim that the tech giants breached Australian competition laws by misusing their market power against app developers and using restrictive trade practices. Epic Games are the creators of Fortnite, one of the most popular video games in the world. (Bloomberg via Getty Images) Google and Apple's dominance of the app market had the effect of substantially lessening competition and breached Australian law, Beach found. But the judge rejected some of Epic's claims including that Google and Apple engaged in unconscionable conduct as defined by Australian law. Sweeney is also challenging Google and Apple's dominance in the app markets through the courts in the United States and Britain. The litigation began in August 2020 when Apple's App Store and Google's Play Store expelled Fortnite because Epic installed a direct payment feature in the extraordinarily popular game. The court ruled both companies pressured app developers including Epic through contracts and technology to sell their products through the two dominant app stores. Epic said that the ruling will allow its Epic Games Store and Fortnite to come to Apple's operating system iOS in Australia. 'An Australian court just found that Apple and Google abuse their control over app distribution and in-app payments to limit competition,' Epic said in a statement. 'There are 2,000+ pages of findings that we'll need to dig into to fully understand the details," the statement added. "This is a WIN for developers and consumers in Australia!' Apple said the company 'faces fierce competition in every market where we operate'. 'We welcome the Australian court's rejection of some of Epic's claims, however, we strongly disagree with the Court's ruling on others,' Apple said in a statement. Apple could appeal the decision handed down by the Federal Court. (Mark Lennihan/AP) Google said it would review the judgment. Google and Apple could potentially appeal the ruling before the Federal Court full bench. 'We disagree with the court's characterisation of our billing policies and practices, as well as its findings regarding some of our historical partnerships, which were all shaped in a fiercely competitive mobile landscape on behalf of users and developers,' a Google statement said. Beach has yet to release a 952-page judgment on Epic's case against Apple or his 914-page judgment on the case against Google. The judge gave an oral summary of his findings during a 90-minute hearing yesterday. Lawyers will return to court on a date yet to be set to argue what Epic is entitled to in terms of damages. national Australia USA legal law Video Games Apple Google Fortnite Technology Tech CONTACT US Auto news: Honda here to stay in Australia, announces growth plans.
West Australian
an hour ago
- West Australian
Evolution Mining doubles profit and jacks up dividend on record gold surge
Evolution Mining will shower investors with the spoils of a record profit that more than doubles last year's, in a roaring result that could set the scene for a bumper goldie reporting season. The Sydney-based miner, which recently completed a major production expansion to the Mungari mine near Kalgoorlie, increased statutory profit by 119 per cent to $926 million for the 2025 financial year. Prices for the tumult and inflation-hedge driven commodity reached an all-time high in April, sending Evolution's achieved gold price up 35 per cent to $4300 on the 750,512 ounces of gold produced during the year. All-in sustaining costs of $1653 an ounce were up 12 per cent, however, as the miner made the most of higher prices and processed its lower-grade stockpiles. The board declared a fully franked final dividend of 13¢ a share for the year, compared to 5¢ a share in the prior year. Evolution chief executive Lawrie Conway said the miner would be focused on delivering high margins in the new financial year, when it expects to hit production of between 710,000 and 780,000oz. 'Our cost and production performance in the year saw our balance sheet continue to strengthen, with gearing levels falling while successfully delivering several major capital projects,' he said. Evolution runs two mines in NSW, two in Queensland, and one in WA — the Mungari gold project, about 20km west of Kalgoorlie. It also owns the Red Lake mine in Canadian province of Ontario. It's among the first gold miners to report for the 2025 full-year results period. More to come.
West Australian
an hour ago
- West Australian
NSW trucking company DJK Transport goes bust after 57 years
An Australian trucking company has gone into liquidation after almost 60 years in business. DJK Transport entered voluntary liquidation on Friday, after a restructuring practitioner was appointed in June. The business is listed as being based out of Austral in southwest Sydney, and according to their website has been a 'trusted transport service since 1968'. DJK Transport provided local and interstate freight and distribution, including trailers, tautliners, and flat-top trucks, according to their website. The company previously undertook mine-related freight work, as well as freight work for distribution centres for chain supermarkets and department stores. DJK Transport entered voluntary liquidation on Friday. NCA NewsWire / David Swift Credit: News Corp Australia A liquidation notice posted to ASIC revealed that it was resolved at a general meeting on August 8 that the company be wound up. Danny Tony Vrkic was appointed liquidator. It comes after a further two transport companies entered voluntary liquidation on Friday, including AKG Trucking and Round Em Up Transport. DJK Transport has been contacted for comment.
