Company News

• Insurance industry headaches could lead to higher premiums

  By business reporter Andrew Robertson

  Posted February 22, 2017 16:55:01

  Even as the Commonwealth Bank last week unveiled another record half-year profit of $5 billion, not everything was rosy — its life insurance arm CommInsure continues to be a headache, and with ASIC campaigning insurers to publicly report claim figures, premiums could rise as a consequence.

  Topics: business-economics-and-finance, company-news, consumer-finance, consumer-protection, economic-trends, banking, insurance, health, australia

• Supreme Court criticises Seven West execs over comments vilifying former employee

  By senior business correspondent Peter Ryan and Sean Rubinsztein-Dunlop

  Posted February 22, 2017 14:01:44 | Updated February 22, 2017 14:23:07

  Seven West chairman Kerry Stokes and director Jeff Kennett are criticised by a NSW Supreme Court judge for their public comments vilifying former employee Amber Harrison.

  Topics: law-crime-and-justice, business-economics-and-finance, company-news, media, australia

• Coca-Cola Amatil's Australian division managing director speaks to the media Video

  Video
  ABC News

  1min 55sec

  Posted February 22, 2017 13:16:23

  Coca-Cola workers in Adelaide are in shock after the company announced it would close its South Australian manufacturing facilities in 2019.

  Topics: company-news, community-and-society, unemployment, thebarton-5031, adelaide-5000, richlands-4077

• Regional SA site ideal for storing renewables in pumped hydro: EnergyAustralia

  PM

  By Khama Reid

  Posted February 22, 2017 13:07:03 | Updated February 22, 2017 13:35:05

  A desert site at the top of Spencer Gulf in South Australia is perfect for a pumped hydro venture, which would use sea water to make a power station of up to 200-megawatts, EnergyAustralia says.

  Topics: alternative-energy, company-news, environment, hydro-energy, port-augusta-5700, whyalla-5600, sa

• Fortescue Metals Group profit soars amid resurgent iron ore price

  By Graeme Powell

  Posted February 22, 2017 11:13:39 | Updated February 22, 2017 11:41:52

  Perth-based mining company Fortescue Metals Group posts a big jump in profit to US$1.2 billion for the six months to the end of December, on the back of a surge in iron ore prices.

  Topics: iron-ore, mining-industry, company-news, business-economics-and-finance, wa, perth-6000

• Fairfax profit jumps; Domain spin-off being considered

  By business reporter Michael Janda

  Posted February 22, 2017 09:32:49 | Updated February 22, 2017 14:45:36

  Fairfax almost trebles its profit, posting net earnings of $83.7 million, while also confirming that it is investigating the spin-off of its real estate business Domain.

  Topics: media, company-news, australia

• Woolworths bounces back to profit after Masters disaster

  By business reporters Rebecca Hyam and Michael Janda

  Posted February 22, 2017 09:04:37 | Updated February 22, 2017 11:23:46

  Woolworths bounces back from a massive loss, driven by its failed Masters hardware experiment, to post a $725 million first-half profit.

  Topics: retail, company-news, australia

• 'Shock' as Coca-Cola announces it will close SA plant in 2019

  By Sarah Scopelianos and Lauren Waldhuter

  Posted February 22, 2017 08:40:11 | Updated February 22, 2017 13:16:23

  A Coca-Cola employee in Adelaide says workers did not expect the company to close its Thebarton manufacturing facility, and that he fears his reemployment prospects.

  Topics: unemployment, community-and-society, company-news, thebarton-5031, adelaide-5000, richlands-4077, sa

• Jobs at Adelaide's Coca-Cola factory in doubt, union says

  Posted February 21, 2017 19:34:35

  Workers at Adelaide's Coca-Cola production factory have had their shifts cancelled and a meeting has been called for Wednesday morning leaving about 150 jobs in doubt, the union says.

  Topics: unemployment, community-and-society, company-news, thebarton-5031, adelaide-5000, sa

• ATO received 'unfair preference' when SA company collapsed

  By Angelique Donnellan

  Posted February 21, 2017 18:58:00

  The Australian Taxation Office is ordered to refund more than $1 million it took from failed South Australian company Penrice, after being sued by the company's liquidators.

  Topics: tax, government-and-politics, company-news, osborne-5017, adelaide-5000, sa

• BHP Billiton returns to profit

  By Susan Lannin

  Posted February 21, 2017 17:54:25 | Updated February 21, 2017 20:48:10

  BHP Billiton swings from loss to profit for the first half of the 2017 financial year thanks to a surge in commodity prices.

  Topics: business-economics-and-finance, company-news, economic-trends, iron-ore, coal, mining-industry, australia

• Brambles, Worley Parsons shares slump, NIB jumps

  By business reporter Sue Lannin

  Posted February 20, 2017 13:58:22 | Updated February 20, 2017 16:03:41

  Shares in engineering services firm Worley Parsons and pallet company Brambles plummet as investors react to disappointing profit results, while health insurer NIB jumps on earnings growth.

  Topics: company-news, insurance, oil-and-gas, manufacturing, transport, health-insurance, australia

• BlueScope warns of 'energy catastrophe' if new gas power not built

  By senior business correspondent Peter Ryan and Sue Lannin

  Posted February 20, 2017 10:48:44 | Updated February 20, 2017 14:20:45

  BlueScope Steel's chief executive warns that Australia faces an "energy catastrophe" if new gas power stations are not built to maintain baseload power.

  Topics: steel, iron-ore, company-news, australia, port-kembla-2505

• Medibank Private boss defends premium increases

  By business reporters Alicia Barry and Stephen Letts

  Posted February 17, 2017 15:47:33 | Updated February 17, 2017 22:12:47

  The head of Medibank Private defends its health insurance premium increases, while also delivering a disappointing half-year profit for shareholders.

  Topics: company-news, health-insurance, australia

• Santos narrows loss to $1.4b, Virgin dives into the red

  By business reporter Stephen Letts

  Posted February 17, 2017 15:22:46

  Santos improves its loss to $1.4 billion, while Virgin Australia dives back into the red.

  Topics: company-news, air-transport, oil-and-gas, australia, sa

• Pricey green ants giving Australian gin extra bite

  Landline

  By Kerry Staight

  Posted February 17, 2017 11:20:06 | Updated February 17, 2017 16:01:21

  As a child, former AFL player Daniel Motlop snacked on the backsides of green ants. Today he's working with an Adelaide Hills distiller to hero the "little packets of flavour" in a new variety of gin.

  Topics: food-and-cooking, company-news, human-interest, adelaide-5000

• ANZ profit jumps in quarterly update, shares follow

  By business reporter Stephen Letts

  Posted February 17, 2017 10:20:41 | Updated February 17, 2017 10:43:24

  ANZ bursts out of the blocks with a large profit jump in its first quarter trading update, sending its shares 1.5 per cent higher.

  Topics: banking, company-news, australia

• Samsung chief Lee arrested in corruption investigation

  Posted February 17, 2017 09:58:59 | Updated February 17, 2017 18:37:15

  Samsung Group chief Jay Y Lee is arrested over his alleged role in a corruption scandal that led parliament to impeach President Park Geun-hye, a South Korean court says.

  Topics: government-and-politics, corruption, company-news, business-economics-and-finance, korea-republic-of, asia

• Bellamy's shareholder admits being aligned with Black Prince investment

  By Ian Verrender

  Posted February 16, 2017 18:23:00

  The acrimonious battle for control of Tasmanian dairy group Bellamy's takes a new twist after dissident shareholder Jan Cameron admits being aligned to a mysterious offshore trust that has been attempting to roll the board.

  Topics: company-news, business-economics-and-finance, stockmarket, tas

• Slater & Gordon, Ten warn on profits; South32 back in black

  By business reporter Stephen Letts

  Posted February 16, 2017 14:19:38

  Slater & Gordon and Ten Network have upset investors with profit warnings, while South32 shares fell despite a return to profitability.

  Topics: company-news, stockmarket, mining-industry, media, australia

• Clive Palmer says blaming him for Queensland Nickel collapse unfair

  By Josh Bavas

  Posted February 16, 2017 12:15:19 | Updated February 16, 2017 18:42:48

  Clive Palmer tells the Federal Court in Brisbane it is unfair to blame him for the collapse of Queensland Nickel, as he defends speaking to his nephew Clive Mensink despite the company's director being the subject of a court summons.

  Topics: courts-and-trials, law-crime-and-justice, company-news, clive-palmer, brisbane-4000, qld, townsville-4810

• Shock drop pulls Telstra profit down to $1.8b, shares slump

  By business reporter Stephen Letts

  Posted February 16, 2017 10:08:09 | Updated February 16, 2017 11:18:03

  Telstra has seen its first-half profit tumble to $1.8 billion, hit by the effects of tougher competition, adverse regulatory rulings and ongoing restructuring.

  Topics: telecommunications, company-news, australia

• Coal fires Wesfarmers to record first half as Coles cools

  By business reporters Stephen Letts

  Posted February 15, 2017 12:23:18 | Updated February 15, 2017 12:24:30

  Booming coal prices compensate for falling food and liquor prices to boost Wesfarmers' bottom line, helped by better than expected growth from Bunnings.

  Topics: business-economics-and-finance, company-news, retail, mining-industry, coal, australia

• Clive Palmer to testify in court over Queensland Nickel's demise

  Posted February 15, 2017 11:26:31 | Updated February 15, 2017 12:56:37

  Businessman and former federal MP Clive Palmer is to appear in the Federal Court in Brisbane as liquidators of his failed Queensland Nickel company look to question him over its demise.

  Topics: courts-and-trials, company-news, clive-palmer, federal-government, brisbane-4000, qld, australia, townsville-4810

• News Corp posts second quarter loss citing Australian newspaper impairments

  The World Today

  By senior business correspondent Peter Ryan

  Posted February 10, 2017 09:48:50 | Updated February 10, 2017 13:00:59

  Rupert Murdoch's News Corporation posts a second quarter loss citing impairments in its Australian newspaper business as a key factor.

  Topics: business-economics-and-finance, company-news, media, markets, stockmarket, multinationals, united-states, australia

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