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Greensill collapse sparks Australia contagion fears as unions eye steel jobs – Sydney Morning Herald
There are concerns thousands of local steel jobs could be at risk due to the collapse of financing firm Greensill.
The collapse of Bundaberg entrepreneur Lex Greensills global financing firm has sparked contagion fears in Australia, with concerns thousands of local steel jobs could be at risk and major insurer IAG forced to soothe market jitters about its exposure.
Greensill Capital, the high-flying, London-based supply chain financing firm that was last year valued at $US7 billion ($9 billion), appointed administrators in England and Australia on Tuesday after it lost the support of its key financial backer,…
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