Business
ASX risks weekly gains as falls continue – The Sydney Morning Herald
The ASX200 has continued its early decline through to midday, with the market now down 1.1 per cent at 6684 just before lunchtime.
Greensill Capitals unravelling is piling pressure on the sprawling empire of a British industrialist known as the saviour of steel.
Sanjeev Guptas GFG Alliance, which spans steel, aluminum, renewable energy and banking assets in around the world, including in Australia, owes much of its expansion to Lex Greensills eponymous firm thats fighting to stave off a collapse. GFG spent about $US6 billion ($7.8 billion) in just five years, targeting old, unwanted assets, with funding help from Greensill.
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