Billionaire’s Data Center Warning, Santos Streamlines

Good morning, it’s Angus in Sydney. While the US and Iran remain locked in a battle for control of the Strait of Hormuz, at home, property billionaire Greg Goodman has warned of a data center selloff in the sector following a debt frenzy. There’s a new battle to rein in soaring costs inside Australia’s flagship disability welfare program. And rising costs are forcing Santos to streamline its oil and gas business. — Angus Whitley, Global Business reporter

A global wave of mergers and acquisitions is looming among private equity-backed data-center companies as their debt burdens become unmanageable, Greg Goodman, chief executive officer of Australian industrial property giant Goodman Group, said in an interview.