NBN Co hopes for enterprise saviour after $2 billion blowout

NBN Co hopes for enterprise saviour after $2 billion blowout

NBN Co will rely heavily on growth in its fledgling enterprise business to achieve a forecast leap in average revenue per user, as reduced wholesale prices, last year's HFC network pause, and extra fixed wireless investments blew out its budget by $2.2 billion. The total cost of the National Broadband Network will now be $51 billion, including a…
ASX gains to fresh 10-year high, $A falls on Westpac rate hike

ASX gains to fresh 10-year high, $A falls on Westpac rate hike

The Australian sharemarket rose for a fourth straight session while the local currency fell after Westpac lifted its variable home loan rates.  The S&P/ASX 200 index closed 47.5 points, or 0.8 per cent, higher at 6352.2, advancing to a fresh 10-year high. The Australian dollar dropped to about US72.99¢ from US73.44¢ before Westpac's announcement.  It was…
Harvey Norman franchisee sales fall 1.3pc in year to date

Harvey Norman franchisee sales fall 1.3pc in year to date

Harvey Norman has received a first strike against its remuneration report, with 50.6 per cent of the shares voted against the report at the annual meeting on Tuesday. This followed a near miss in 2017, when 23.4 per cent of shares were voted against the remuneration report. If shareholders vote against the report at the annual meeting next year…
Brexit threatens UK’s growing car industry

Brexit threatens UK’s growing car industry

Brexit could mean mutual benefit turning to mutual destruction. That was certainly in the minds of those at industry associations on both sides of the English Channel this week. In the UK, Mike Hawes, the CEO of the Society of Motor Manufacturers and Traders, said a no-deal Brexit could be "catastrophic" for the UK automotive…
Terror attack shakes up Victorian election

Terror attack shakes up Victorian election

Melbourne's deadly Bourke Street attack has thrust terrorism and law and order back into the Victorian election, with Liberal leader Matthew Guy warning the public has had "enough of words" and promising to bring a change of attitude to crime and rush through mandatory minimum jail sentences for repeat violent offenders. Federal Home Affairs Minister…
Venture Capital at ‘tipping point’ as exits loom

Venture Capital at ‘tipping point’ as exits loom

Some of Australia's leading technology venture capital funds have said the start-up hopefuls growing in their portfolios were showing signs of becoming world-class global companies, as the sector approaches a "tipping point" where successful exits would start occurring. Over the past four years Australian VC funds have increased dramatically in size, and super funds have…
German giant Allianz at heart of GrainCorp bid

German giant Allianz at heart of GrainCorp bid

Global insurance giant Allianz is believed to be the company willing to underwrite Australia's east coast grain market for the next 25-years, as part of a $3.3 billion takeover bid for grain handler GrainCorp.  Street Talk understands GrainCorp bidder Long-Term Asset Partners has been talking to Allianz to take the agricultural risk associated with owning the company, which would…
Lleyton Hewitt blasts Bernard Tomic for tarnishing Aussies new tennis stars

Lleyton Hewitt blasts Bernard Tomic for tarnishing Aussies new tennis stars

26-year-old South Australian Alex Bolt was among the new Aussie breed who continued the early success on day two, after eight Aussie players progressed on day one and return on Wednesday where the feared Melbourne heatwave has proved less oppressive than expected. Rising 19-year old Aussie star Alex De Minaur and locals John Millman and…
Banking royal commission: TAL pays $20,000 for private investigator to spy on nurse

Banking royal commission: TAL pays $20,000 for private investigator to spy on nurse

TAL paid a private investigator to follow a former nurse and record her every move as part of an attempt to discredit her and void an income protection policy, the Hayne royal commission has heard. The private investigator was engaged by TAL in 2012 after more than three years of disputes, as the insurance company…
Reserve Bank of Australia keeps cash rate at 1.5pc

Reserve Bank of Australia keeps cash rate at 1.5pc

by Sarah Turner The Reserve Bank of Australia has kept the cash rate on hold at 1.5 per cent, a move widely expected by market economists. The central bank has held interest rates steady since cutting the cash rate by 25 basis points in August 2016, a move that heralded a record-breaking run of monetary policy…

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