End of a fairytale: McAleese chief Mark Rowsthorn had hoped to restore most of the transport group from administration.

180 jobs lost as Rowsthorn's salvaged business collapses

Melbourne businessman, Mark Rowsthorn, salvaged most of the McAleese Group from administration in February. But 180 staff are about to lose their jobs after one of the businesses in the rescued group, Australian Road Express (ARX), gets wound up by receivers.

Illustration: John Shakespeare

'Pompous old farts' get better of Fletcher chief

There has been carnage across the ditch where New Zealand's biggest construction group, Fletcher Building, announced its second profit downgrade in a matter of months despite the country experiencing a building boom.