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Why James Packer should be worried about The Star's results

James Packer would not have been pleased with The Star's results.

The financial results of The Star Entertainment Group on Thursday are a good indicator of what's in store for James Packer's rival casino operation, Crown, following the arrest of its employees in China last October. The news was not good.

The $10m deal Lachlan Murdoch made that is helping keep News Corp afloat

Rupert Murdoch with his sons Lachlan (left) and James.

News Corp reported a $US219 million loss for the December quarter - thanks largely to $US537 million worth of writedowns on its Australian assets - but Rupert Murdoch might be wiping his brow and thanking his son Lachlan - his fellow co chairman at News Corp - for a deal 17 years ago that is helping to keep the company afloat.

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