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British industrialist Sanjeev Gupta s Whyalla steelworks has been unable to make steel for almost four weeks, adding to the financial pressures on his global GFG empire

British industrialist Sanjeev Gupta s Whyalla steelworks has been unable to make steel for almost four weeks, adding to the financial pressures on his global GFG empire
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Pay rises: Inflation guarantees in union deals trigger 7pc-plus wage bumps

Optus is among several major employers that are handing out inflation-matching pay rises this year due to CPI guarantees in union wage deals.

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Mixed feelings from Whyalla workers amid uncertainty around GFG Alliance s financial woes

Mixed feelings from Whyalla workers amid uncertainty around GFG Alliance s financial woes Posted 2 updated 1 The Whyalla steelworks is again facing an uncertain future. ( Share Print text only Cancel The relative success of Sanjeev Gupta s Whyalla operations has some locals hopeful that legal action against the billionaire will not leave them without jobs, but other are less convinced. Key points: Workers are split about how their future looks The state government says it is looking at supporting contractors Citibank yesterday made an application in the NSW Supreme Court to wind up the operations of two companies, including OneSteel Manufacturing which runs Whyalla s steelworks, and employs more than 1,200 workers.

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Battle-hardened Whyalla waits for what comes next after Greensill collapse

And there are those who have been here for generations, stoically enduring the endless end-of-times predictions in this Eyre Peninsula town. This city (population 21,500) is often either a beacon or a canary in the coalmine for manufacturing. The latest threat to Whyalla is the collapse of the Bundaberg billionaire Lex Greensill’s business. Greensill Capital – which claims 10 million customers – has gone into administration. The company begged for a financial lifeline of more than $300m from the UK government and was left wanting. And Greensill was financing all sorts of operations around the world, including GFG Alliance, which owns the Whyalla steelworks.

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Greensill Capital: Sanjeev Gupta scrambles to stop Australian fallout

In an ironic twist, GFG Alliance’s Australian operations, employing 6500 people, are in a better operating position than when they went bust in 2016.

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