Companies
Banking industry’s big bash fear
A WEEK out from the launch of the $6.2 billion federal bank tax, the worst could well be yet to come for the big Australian lenders, writes Jeff Whalley.
NAB cuts loan rate, leaves CBA hanging
NATIONAL Australia Bank has cut its standard home loan rate, leaving the Commonwealth Bank as the only big lender not to help homebuyers this month.
Telco giant Telstra set to cut 1400 jobs
TELSTRA is about to wield the axe and cull 1400 jobs as it frantically cuts costs amid fierce competition.
Coles captain in $10m pay deal
THE new boss at the parent company of Coles will get less pay than his predecessor — but can still earn more than $27,000 every day of the year.
Westpac: Here’s how much we’ll pay ...
UPDATE: WESTPAC has become the first of the big banks to officially estimate the hit it will cop from the federal government’s new slug.
Wesfarmers scraps Officeworks float
WESFARMERS has dumped plans to spin off Officeworks in a $1.5 billion float, saying it would not be in the best interests of investors.
Trim, taut BHP to muscle up
BHP chief Andrew Mackenzie says the mining titan is well placed to grow its value by half through ongoing cost cutting, productivity gains and well-targeted investments.
She’ll be apples: Coke’s SPC revival bid in train
COCA-Cola Amatil has warned its fruit cannery business, SPC Ardmona, is taking longer than expected to return to profitability.
BHP returns to roots in name change
MINING giant BHP Billiton will drop the Billiton tag from its name and launch a major rebranding exercise which aims to underscore the miner’s Big Australian roots and modern global reach.
Oroton shares in trading halt
OROTON shares are in a trading halt after the struggling luxury handbag retailer warned its earnings slipped last month.
Katy Perry Myer ad branded ‘disgusting’
MYER bosses have been forced to remove content from their Katy Perry advert after animal lovers slammed it as “disgusting”.
Network Ten takeover bid confirmed
CHANNEL Ten’s billionaire shareholders Lachlan Murdoch and Bruce Gordon are launching a takeover bid for the besieged network, the ACCC has confirmed.
Commuters warned to brace for ‘misery’
ONE of Australia’s newest rail lines will close despite there being nothing wrong with it. There are warnings it could lead to a “traffic disaster”.
Australia’s first waiter-less cafe
THIS cafe is missing one thing. In what’s billed as an Australian first, customers can order, pay for and receive their meals without any human interaction.
‘What corporate suicide looks like’
A POPULAR site has been described as a case study in “how to kill a business overnight” after subjecting its users to “blackmail”.
Billionaire Clive bills taxpayers for flights
TAXPAYERS paid for billionaire Clive Palmer to fly to Canberra which coincided with his fight against the collapse of his Townsville nickel refinery.
Network Ten takeover bid confirmed
The ACCC have confirmed Channel Ten’s billionaire shareholders Lachlan Murdoch and Bruce Gordon are launching a takeover bid for the besieged network.
Customers furious as Optus outage hits
ANGRY customers across Australia have taken to social media to complain about their Optus phone and internet connections going down again.
Doctors gobble $290 million in lunches
PHARMACEUTICAL companies are forking out hundreds of millions wining and dining doctors in a bid to influence their prescribing habits.
Billionaire ‘vomited to huge applause’
IS this the worst business meeting ever? A CEO held riotous business catch ups in a pubs where hard drinking was the norm, a court has heard.
We’ve raised Generation Hopeless
MILLENNIALS are totally useless when it comes to basic life and work skills and we’ll all pay for it, experts have warned.
Customs agents swoop on Weetabix
CEREAL giant Sanitarium has been accused of bullying a tiny store after seizing a shipment of “Weetabix” at the border.
Network Ten secures $30m lifeline
TEN Network has secured a $30 million funding package so that it can keep operating while receivers and managers look to sell the business.
Woolies price tags raise eyebrows
ELECTRONIC tickets have popped up in Woolworths, leading to questions about whether it’s trialing a surge pricing scheme.
Ivanka’s brutal shoe factory exposed
SHE’S called for an end to “exploitation” in China, but workers who have made Ivanka Trump’s shoes allege shocking brutality and abuse.
Teenage mogul makes a stunning fortune
WHEN she was just 14 Holly Cardew, a schoolgirl from regional Australia, started selling handbags online. Now she’s a stunning success.
Is this whole industry a pricey hoax?
IT’S a problem that will affect up to nine out of every 10 people at some point during their lives, but nearly every solution to it is an expensive lie.
Gamechanging supermarket move
POPPING to Coles or Woolies for a cheap lunch could be a nasty shock if the supermarkets adopt this surge pricing trend that’s taking off.
Why people are madly buying up DVDs
SUNDAY at 5pm is rarely a peak shopping hour, but this cavernous basement space of a video store is suddenly crawling with shoppers.
‘Most hated man’ can’t even find a jury
AN AMERICAN court has struggled to find an impartial jury for “pharma bro” Martin Shkreli because so many people already hate his guts.
