Adgemis tries to dodge bankruptcy, appoints trustee to his assets
Primrose Riordan covers private companies and family offices from the AFR's Sydney newsroom. Primrose was previously a correspondent for the Financial Times and covered foreign affairs and politics in Canberra. Primrose has won multiple awards for her journalism including from The National Press Club, SABEW in the US and Press Gazette in the UK. Message Primrose on Signal: https://tinyurl.com/PrimroseSignal
Max Mason covers financial crime, courts and corporate wrongdoing. A Walkley Award winner, Max's journalism has also received awards from the National Press Club of Australia, the Kennedy Awards and Citibank. Message Max on Signal https://tinyurl.com/MaxMason
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The Advertiser
a day ago
- The Advertiser
New Zealand departs climate action group
New Zealand has left the Beyond Oil and Gas Alliance, a group of governments advocating a shift to cleaner energy sources, becoming the first nation to do so. In a decision that confirms the coalition government's embrace of fossil fuels, Climate Minister Simon Watts told parliament on Wednesday he had written to the alliance to signal their departure. Since taking office in November 2023, Chris Luxon's government has repealed a Jacinda Ardern-era ban on exploration for offshore oil and gas, and fast-tracked mining projects, including for coal. Mr Watts said those acts meant New Zealand no longer sat comfortably inside the grouping. "The New Zealand government made the decision to withdraw, in good faith, our associate membership, and informed the alliance of this decision on 21 June, 2025," he said. New Zealand was approached to join the alliance by co-founders Costa Rica and Denmark and did so in late 2021 alongside COP26, the UN climate conference of that year held in Glasgow. A released cabinet paper showed Kiwi officials believed joining would be a "useful vehicle for advancing effective global climate action" and also "does not involve binding legal commitments". Greenpeace Aotearoa spokesperson Amanda Larson was scathing of the government's embrace of both mining and agriculture through "intensive livestock", which she said were two of the world's most polluting industries. In May, the government was also named by the Financial Times for accounting practices which downplay the impact of methane from agriculture. "It is the first time in Luxon's political or business career that he has made the front page of the Financial Times - and it was humiliating. He should expect more international criticism to come," Ms Larson said. New Zealand was an associate member, alongside California and Belize, but as of Wednesday, was scrubbed from the Beyond Oil and Gas Alliance website. Resources minister Shane Jones called the grouping "an indulgent, vanity-belief community". New Zealand has left the Beyond Oil and Gas Alliance, a group of governments advocating a shift to cleaner energy sources, becoming the first nation to do so. In a decision that confirms the coalition government's embrace of fossil fuels, Climate Minister Simon Watts told parliament on Wednesday he had written to the alliance to signal their departure. Since taking office in November 2023, Chris Luxon's government has repealed a Jacinda Ardern-era ban on exploration for offshore oil and gas, and fast-tracked mining projects, including for coal. Mr Watts said those acts meant New Zealand no longer sat comfortably inside the grouping. "The New Zealand government made the decision to withdraw, in good faith, our associate membership, and informed the alliance of this decision on 21 June, 2025," he said. New Zealand was approached to join the alliance by co-founders Costa Rica and Denmark and did so in late 2021 alongside COP26, the UN climate conference of that year held in Glasgow. A released cabinet paper showed Kiwi officials believed joining would be a "useful vehicle for advancing effective global climate action" and also "does not involve binding legal commitments". Greenpeace Aotearoa spokesperson Amanda Larson was scathing of the government's embrace of both mining and agriculture through "intensive livestock", which she said were two of the world's most polluting industries. In May, the government was also named by the Financial Times for accounting practices which downplay the impact of methane from agriculture. "It is the first time in Luxon's political or business career that he has made the front page of the Financial Times - and it was humiliating. He should expect more international criticism to come," Ms Larson said. New Zealand was an associate member, alongside California and Belize, but as of Wednesday, was scrubbed from the Beyond Oil and Gas Alliance website. Resources minister Shane Jones called the grouping "an indulgent, vanity-belief community". New Zealand has left the Beyond Oil and Gas Alliance, a group of governments advocating a shift to cleaner energy sources, becoming the first nation to do so. In a decision that confirms the coalition government's embrace of fossil fuels, Climate Minister Simon Watts told parliament on Wednesday he had written to the alliance to signal their departure. Since taking office in November 2023, Chris Luxon's government has repealed a Jacinda Ardern-era ban on exploration for offshore oil and gas, and fast-tracked mining projects, including for coal. Mr Watts said those acts meant New Zealand no longer sat comfortably inside the grouping. "The New Zealand government made the decision to withdraw, in good faith, our associate membership, and informed the alliance of this decision on 21 June, 2025," he said. New Zealand was approached to join the alliance by co-founders Costa Rica and Denmark and did so in late 2021 alongside COP26, the UN climate conference of that year held in Glasgow. A released cabinet paper showed Kiwi officials believed joining would be a "useful vehicle for advancing effective global climate action" and also "does not involve binding legal commitments". Greenpeace Aotearoa spokesperson Amanda Larson was scathing of the government's embrace of both mining and agriculture through "intensive livestock", which she said were two of the world's most polluting industries. In May, the government was also named by the Financial Times for accounting practices which downplay the impact of methane from agriculture. "It is the first time in Luxon's political or business career that he has made the front page of the Financial Times - and it was humiliating. He should expect more international criticism to come," Ms Larson said. New Zealand was an associate member, alongside California and Belize, but as of Wednesday, was scrubbed from the Beyond Oil and Gas Alliance website. Resources minister Shane Jones called the grouping "an indulgent, vanity-belief community". New Zealand has left the Beyond Oil and Gas Alliance, a group of governments advocating a shift to cleaner energy sources, becoming the first nation to do so. In a decision that confirms the coalition government's embrace of fossil fuels, Climate Minister Simon Watts told parliament on Wednesday he had written to the alliance to signal their departure. Since taking office in November 2023, Chris Luxon's government has repealed a Jacinda Ardern-era ban on exploration for offshore oil and gas, and fast-tracked mining projects, including for coal. Mr Watts said those acts meant New Zealand no longer sat comfortably inside the grouping. "The New Zealand government made the decision to withdraw, in good faith, our associate membership, and informed the alliance of this decision on 21 June, 2025," he said. New Zealand was approached to join the alliance by co-founders Costa Rica and Denmark and did so in late 2021 alongside COP26, the UN climate conference of that year held in Glasgow. A released cabinet paper showed Kiwi officials believed joining would be a "useful vehicle for advancing effective global climate action" and also "does not involve binding legal commitments". Greenpeace Aotearoa spokesperson Amanda Larson was scathing of the government's embrace of both mining and agriculture through "intensive livestock", which she said were two of the world's most polluting industries. In May, the government was also named by the Financial Times for accounting practices which downplay the impact of methane from agriculture. "It is the first time in Luxon's political or business career that he has made the front page of the Financial Times - and it was humiliating. He should expect more international criticism to come," Ms Larson said. New Zealand was an associate member, alongside California and Belize, but as of Wednesday, was scrubbed from the Beyond Oil and Gas Alliance website. Resources minister Shane Jones called the grouping "an indulgent, vanity-belief community".
Perth Now
a day ago
- Perth Now
New Zealand departs climate action group
New Zealand has left the Beyond Oil and Gas Alliance, a group of governments advocating a shift to cleaner energy sources, becoming the first nation to do so. In a decision that confirms the coalition government's embrace of fossil fuels, Climate Minister Simon Watts told parliament on Wednesday he had written to the alliance to signal their departure. Since taking office in November 2023, Chris Luxon's government has repealed a Jacinda Ardern-era ban on exploration for offshore oil and gas, and fast-tracked mining projects, including for coal. Mr Watts said those acts meant New Zealand no longer sat comfortably inside the grouping. "The New Zealand government made the decision to withdraw, in good faith, our associate membership, and informed the alliance of this decision on 21 June, 2025," he said. New Zealand was approached to join the alliance by co-founders Costa Rica and Denmark and did so in late 2021 alongside COP26, the UN climate conference of that year held in Glasgow. A released cabinet paper showed Kiwi officials believed joining would be a "useful vehicle for advancing effective global climate action" and also "does not involve binding legal commitments". Greenpeace Aotearoa spokesperson Amanda Larson was scathing of the government's embrace of both mining and agriculture through "intensive livestock", which she said were two of the world's most polluting industries. In May, the government was also named by the Financial Times for accounting practices which downplay the impact of methane from agriculture. "It is the first time in Luxon's political or business career that he has made the front page of the Financial Times - and it was humiliating. He should expect more international criticism to come," Ms Larson said. New Zealand was an associate member, alongside California and Belize, but as of Wednesday, was scrubbed from the Beyond Oil and Gas Alliance website. Resources minister Shane Jones called the grouping "an indulgent, vanity-belief community".
Perth Now
2 days ago
- Perth Now
Leaders at historic NATO summit with unity on the line
World leaders are gathering in the Netherlands for the start of a historic two-day NATO summit that could unite the world's biggest security organisation around a new defence spending pledge or widen divisions among the 32 allies. The allies are expected to endorse a goal of spending five per cent of their gross domestic product on their security, to be able to fulfil the alliance's plans for defending against outside attack. US President Donald Trump's first appearance at NATO since returning to the White House was supposed to centre on how the US secured the historic military spending pledge from others in the security alliance - effectively bending it to its will. But in the spotlight instead now is Trump's decision to strike three nuclear enrichment facilities in Iran that the administration says eroded Tehran's nuclear ambitions, as well as the president's sudden announcement that Israel and Iran had reached a "complete and total ceasefire". Past NATO summits have focused almost entirely on the war in Ukraine, now in its fourth year. NATO Secretary-General Mark Rutte insisted that it remained a vital topic. Ukrainian President Volodymyr Zelenskiy arrived in The Hague for a series of meetings, despite his absence from a leaders' meeting aiming to seal the agreement to boost military spending. It's a big change since the summit in Washington in 2024, when the military alliance's weighty communique included a vow to supply long-term security assistance to Ukraine, and a commitment to back the country "on its irreversible path" to NATO membership. In a joint tribune on the eve of this year's summit, French President Emmanuel Macron and German Chancellor Friedrich Merz said they backed US peace efforts that should preserve Ukraine's sovereignty and European security. "For as long as the current trajectory lasts, Russia will find in France and Germany an unshakeable determination," they wrote in the Financial Times newspaper. "What is at stake will determine European stability for the decades to come. "We will ensure that Ukraine emerges from this war prosperous, robust and secure, and will never live again under the fear of Russian aggression," the two leaders wrote. Before the official program, Zelenskiy is scheduled to meet Dutch Prime Minister Dick Schoof. Later in the day, Zelenskiy will address the Dutch parliament.
