Embattled broadcaster Network 10 is facing “serious turmoil” amid failing programs, sliding ratings, an ad revenue crisis, and a messy ownership battle at its American parent company. News today that glitzy reality series The Masked Singer and major franchise The Bachelor have been axed is the latest sign of the company’s deepening woes – and...
Category: Bussiness
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Wesfarmers says breaking up business would be detrimental to Australia By Reuters
SYDNEY (Reuters) – Australia’s Wesfarmers said on Tuesday any move to break up its budget department store chain Kmart, hardware business Bunnings and chemicals maker WesCEF would drive up prices and put Australian businesses at a global disadvantage. An Australian senate inquiry is considering whether to introduce laws making it easier for the competition regulator...
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Wesfarmers says breaking up business would be detrimental to Australia
SYDNEY (Reuters) – Australia’s Wesfarmers said on Tuesday any move to break up its budget department store chain Kmart, hardware business Bunnings and chemicals maker WesCEF would drive up prices and put Australian businesses at a global disadvantage. An Australian senate inquiry is considering whether to introduce laws making it easier for the competition regulator...
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Horse microbiome booster Poseidon enters US market
From its origins as a husband and wife applying their pharmaceutical and health backgrounds to help their own ailing horse, Poseidon Animal Health has grown to become a leader in equine gut health supplements in Australia and New Zealand, and is now looking to apply the same formula further afield. Co-founder and CEO Peter Lord tells Business News...
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Evidence tells us that we’re only spending on necessities, so why are the experts advocating for more rate hikes?
If only there was a diagnosed condition called One Size Fits All (OSFA) syndrome. The chances are that, if that were the case, a significant portion of our economic gurus might just find themselves exiting their shrink and heading down to the nearest pharmacy for some relief. In the past few months, many of our...
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Don’t miss the AUKUS boat – Cyber is your ticket
When the landmark trilateral security agreement, AUKUS was announced in 2021, ‘Pillar I’ – the delivery of a nuclear-powered attack submarine capability to Australia – dominated both local and international news. But what about Pillar II? This lesser-known part of AUKUS, has far reaching potential impacts, especially as it relates to the cyber security of...
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Optus names new CEO, Qantas agrees to $120 million ‘ghost flights’ settlement, ASX ends higher — as it happened
While oil prices, as discussed earlier, are falling, over on the copper desks in the big commodity trading houses it’s all “buy, buy, buy”. Copper prices jumped another 1.5% over the weekend to be up 15% so far this year. The commodities team at investment HSBC say the surge is the result of a “super...
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‘Egregious and unacceptable’: Qantas agrees to $120 million settlement for selling tickets on cancelled flights
In short: Qantas will pay a $100 million penalty for misleading customers by selling tickets to flights that had already been cancelled. Affected Qantas domestic customers will receive a payment of $225 and international ticketholders $450 as compensation, on top of any remedies these customers have already received. What’s next? The Federal Court needs to...
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Westpac HY profit falls to $3.34bn
The chief executive of one of Australia’s biggest banks has laid bare the stress the country’s aggressive rate hike cycle has put on homeowners, with the bank’s “customers in hardship” measure doubling in just a year. Westpac chief executive Peter King, in reporting the ASX-listed behemoth’s half-year results on Monday morning, said there had been...
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Australian homes have been ‘a very attractive destination for dirty money’, but that’s about to change
In short: A crackdown on money laundering means real estate agents, lawyers and accountants will need to report suspicious transactions. The so-called “Tranche 2” laws will bring Australia into line with similar nations, and stem the process of criminals converting illegal profits into money that looks legitimate. What’s next? AUSTRAC will get $166.4 million in the budget to...
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Introducing the Financial Review’s new restaurant guide, Fin Dining & Wine
May 6, 2024 – 5.00am Gift this article New Subscribe to gift this article Gift 5 articles to anyone you choose each month when you subscribe. Subscribe now Already a subscriber? Login Welcome to The Australian Financial Review’s first-ever dining guide, Fin Dining & Wine. It will be published on afr.com during this week and...
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India raises issue of pharma pricing control in Australia
India has raised the issue of pharmaceutical pricing control in Australia, particularly on generic medicines, during a recent bilateral meeting between the officials of the two countries. The two sides have decided to work closely on timely resolution of market access issues, deepen people-to-people contacts, and create an institutional mechanism for sharing of preferential import...