NBN needs another $20 billion of public money to finish rollout
The federal government will have to plow another $20 billion into the national broadband network as it battles higher than expected costs next year.And NBN Co has been forced to change plans for 1.5 million households to avoid a potential cost blowout. In the pipeline: NBN won't be profitable until 2022. Photo: Glenn Hunt Originally designed as 93 per cent fibre network, NBN was changed by the Coalition government to incorporate existing infrastructure to save time and money. However, it..>> view originalAustralia to resume live cattle trade with Japan after export ban lifted
Australia to resume live cattle trade with Japan after export ban lifted By Jodie Gunders and Arlie Felton-Taylor Posted August 26, 2016 16:34:54 Australia has finally been cleared to resume live cattle exports to Japan after a three-month ban was lifted today.Japan temporarily suspended live cattle imports from Australia in May, after a consignment of dairy cattle from Melbourne tested positive for bovine Johne's disease (BVD). Today the Federal Government con..>> view originalAustralia Post set to lose $1.5 billion on letters
Australia Post chief Ahmed Fahour has framed the $1.5b in coming losses in its letters division as a “$3.5b turnaround”. Picture: David GeraghtyAUSTRALIA Post is back in the black, unveiling a $36 million profit a year after posting losses of $222 million.But what chief executive Ahmed Fahour has claimed as a triumph conceals the bare fact that our national carrier is still bleeding cash from its letters division.While total revenues were up 3 per cent to $6.6 billion in 2015-16 on the back of a..>> view originalStorm Financial directors breached their duties: court
Emmanuel and Julie Cassimatis, the founders of the notorious Storm Financial advice group, breached their duties as directors and provided inappropriate advice to clients, the Federal Court has found.The Australian Securities and Investments Commission launched the civil case in 2010, alleging that as the executive directors of Storm Financial the Cassimatises breached their fiduciary duties under Australian corporate law. The Australian Securities and Investments Commission launched the c..>> view originalCoca-Cola Amatil takes healthier approach
Petrina BerryAustralian Associated PressCoca-Cola Amatil is focusing on smaller cans of soft drinks, a lower calorie version of Coke Life and bottled water as consumers turn away from fizzy drinks.The beverages giant made a profit of $198.2 million in the six months to June 30, up eight per cent from the same period a year ago, as earnings soared in its growth markets of Indonesia and Papua New Guinea.But its Australian business suffered a 1.9 per cent earnings fall as its volumes of carbonated ..>> view originalGreens say they won't back 'watered-down' superannuation changes
Richard Di Natale has warned that the Greens will not support superannuation reforms if the government waters down a package designed to limit the use of super as a tax minimisation strategy. The warning creates a dilemma for the treasurer, Scott Morrison, who is being pressured by conservative colleagues to lift the lifetime cap on non-concessional after-tax super contributions above the proposed level of $500,000. Leaving the proposed cap at $500,000 could risk a backbench revolt in the Coali..>> view originalMayne Pharma CEO Scott Richards backs growth over dividends
"We have relatively small businesses that are primed for growth in the world's biggest pharmaceutical market," Mayne Pharma CEO Scott Richards said. Jesse Marlow Mayne Pharma chief executive Scott Richards has a response ready for the inevitable questions he will get about when the fast-growing drug maker will pay dividends after delivering a 379 per cent lift in net profit to $37.4 million."We have relatively small businesses that are primed f..>> view originalWeak company results cloud recovery hopes
Prashant MehraAustralian Associated PressThe 2015/16 fiscal year will count as one of the worst for profit growth by Australian companies, so investors can't be blamed for hoping things will get a little better from here.With the August reporting season nearly wrapped, the overall trend is becoming evident: earnings for listed companies have declined by an average eight to 10 per cent on the previous year.Resources companies, weighed down by the collapse in commodities prices, accounted for much..>> view originalHigh rollers prove lucky for Star
ASX slips as profit season peaks, eyes turn to Federal Reserve
Profit season moved up a gear in its last big week as did the wild swings of the share prices of many reporting companies, however, the sharemarket ended the week stagnant in anticipation of a speech from US Federal Reserve chair Janet Yellen.The S&P/ASX 200 traded within the range of 5510 to 5570 points all week, but on Friday fell 0.5 per cent, or 26 points, to 5515.5, while the All Ordinaries ended 0.4 per cent, or 24 points, lower at 5607.4. The benchmark index closed just 0.2 per cent lowe..>> view original
| Adam Henry pleads guilty to supplying more than half a kilogram of ice . | Newcastle agency Headjam appoints new account manager . |
| Newcastle Museum . | Newcastle Salary Cap Clean-Out . |
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