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  • ACMA hits Telstra with record fine | Business Spectator
    cent benchmark The infringement notice has been issued with respect to the first benchmark with a formal warning issued with respect to the second the ACMA said In deciding to issue the infringement notice and the formal warnings the ACMA took into account Telstra s positive and early responses and its open engagement with the ACMA The ACMA also took into account that 2012 13 was marked by extreme weather events which affected Telstra s fixed line network particularly in remote areas The ACMA also issued a formal warning to Telstra for breaches of several regulatory requirements related to the consultation process undertaken on eight payphone removals The fine is the largest ever issued by the regulator At 1615 AEDT Telstra shares were flat at 5 26 against a benchmark index fall of 0 23 per cent Print this page Related articles 11 Jan Telstra may sell Sensis for 3bn report 08 Jan Telstra to sit on cash report 05 Jan HTC swings to rare profit 20 Dec ACCC directs Telstra to amend migration plan 20 Dec Telstra to sell CSL business More from Business Spectator Technology Adapt or die Commercial The Future of Energy Family Business Alan Kohler s Family Business China China Spectator Please log in or register to post comments Comments on this article Comments Policy Luke Fennell Fri 2014 01 10 15 11 Who came up with the idea that this is a record Wrong by a factor of thirty I am afraid http www theaustralian com au australian it old m fine for sms scammers story e6frgamo 1225790579180 John Marks Fri 2014 01 10 16 28 Well so much for any prospect of Telstra taking over the NBN roll out What sort of fine will the ACMA now levy against the NBN 100 s of millions Colin O Brien Fri 2014 01 10 16 56 It s time ACMA took action against TV channels starting outside their published times as that wastes thousands of hours of aggregated consumers time Hoe Khaw Fri 2014 01 10 16 58 My neighbour was building a new house At my neighbour s request Telstra came to install telephone cables In the process Telstra cut my Telephone lines My internet went off and I looked out and saw the Telstra technicians at the telstra pit My phone was dead as well By the time I went out the technicians were gone The technicians wrapped electrician s tape on the cut line Telstra denied that they were nowhere near the Telstra pit as there were no job scheduled It took months before they put it right and they dug holes on my the line The technicians did not fill up the holes because they said another crew was coming to put in a new line as the fix was just temporary Noone turned up for months and ringing them was just a sheer waste of time Telstra was upset that I post a photo of the line wrapped in electrician s

    Original URL path: http://www.businessspectator.com.au/news/2014/1/10/telecommunications/acma-hits-telstra-record-fine (2014-01-12)
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  • Murray Goulburn mulls $10 WBC bid: report | Business Spectator
    up bid as battle for dairy company continues You must be logged in to read this article Not a member yet Register today Business Spectator is available on all of your devices so you can access the latest news and commentary where and how you like Register now Already a member Sign in here Email Address Enter your Email Address Password Enter the password that accompanies your Email Address Remember me Log in Request new password By a staff reporter Dairy farmer co operative Murray Goulburn may raise its offer for Warrnambool Cheese and Butter Factory Ltd to 10 per share in its ongoing battle with Canadian suitor Saputo inc according to The Australian Financial Review Saputo of Friday lifted its stake in takeover target WBC cementing its standing as the biggest shareholder in the western Victorian dairy producer Murray Goulburn s offer is subject to no objection by the Australian Competition and Consumer Commission ACCC but it does require the Australian Competition Tribunal to grant it merger authorisation before it can begin accepting payment from shareholders for it s existing 9 50 per share offer A five day hearing is set with the Australian Competition Tribunal for February 10 Murray Goulburn s bid of 9 50 is conditional upon it obtaining more than 50 per cent of Warrnambool shares Murray Goulburn has a 17 7 per cent stake in Warrnambool The AFR said that if Murray Goulburn does go to 10 its offer will be worth 560 million a far above from Bega s initial WCB bid of 319 million But it is possible Murray Goulburn may hold fire deciding a 10 bid is too expensive In a statement to the Australian Securities Exchange on Friday Warrnambool said Saputo had increased its stake to 21 392 per cent from 20 141 per cent On Thursday Saputo was revealed to have lifted its holding in Warrnambool to 20 141 per cent from 17 923 per cent In a subsequent statement Saputo confirmed earlier DataRoom reports that it would extend its 9 a share or 504 million takeover offer for Warrnambool Saputo said it had extended the offer period to close at 1900 AEDT on January 22 Momentum has been building in the rate of acceptances over recent days and we believe that many of the remaining shareholders were waiting until the offer was last and final so they should accept now Saputo chief executive officer Lino Saputo Jr said If shareholders want to be paid their cash and paid quickly they must accept our offer and make sure we receive their acceptance before the offer expires DataRoom reports the Canadian group risked incurring the wrath of the Takeovers Panel a second time by waiting to extend its offer until the last minute Saputo s offer is final Bega Cheese which initiated the takeover battle for Warrnambool but pulled out of the contest when its bid lapsed on December 20 holds 18 8 per cent of Warrnambool Japanese controlled food and

    Original URL path: http://www.businessspectator.com.au/news/2014/1/11/food-and-beverages/murray-goulburn-mulls-10-wbc-bid-report (2014-01-12)
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  • Saputo pushes for Bega’s Warrnambool stake | Business Spectator
    Family Business Financial Services Food and Beverages Gaming and Racing Health and Pharmaceuticals HR Industrial relations Information Technology Infrastructure Insurance Manufacturing Media and Digital Resources and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu Saputo pushes for Bega s Warrnambool stake Brett Cole 10 Jan 12 05 PM 1 DataRoom Mergers Acquisitions Industries Agribusiness The Canadian dairy company is lobbying Bega in an effort to win its 19 per cent stake in Warrnambool You must be logged in to read this article Not a member yet Register today Business Spectator is available on all of your devices so you can access the latest news and commentary where and how you like Register now Already a member Sign in here Email Address Enter your Email Address Password Enter the password that accompanies your Email Address Remember me Log in Request new password If Saputo Inc can secure Bega Cheese Ltd s stake in Warrnambool Cheese and Butter Factory Ltd the Canadian dairy giant may find itself on the cusp of securing a majority shareholding in Warrnambool before the final deadline for its 9 a share offer Saputo told the ASX on Friday its Warrnambool stake had risen to 21 39 per cent adding acceptances of its takeover offer are continuing to arrive prompting it to extend its deadline for acceptances to 1900 AEST on January 22 Momentum has been building in the rate of acceptances over recent days Saputo s chief executive Lino Saputo Jr said in a statement Investment bankers involved in the Warrnambool deal expect Saputo will soon disclose it holds about a quarter of Warrnambool s shares In the next week Saputo s investment bankers at Rothschild and Rabobank will try to persuade Bega to sell its 18 8 per cent stake in Warrnambool We ve been talking to a number of parties interested in our Warrnambool holding and Saputo is one of those Bega chairman Barry Irvin told DataRoom But I m not getting carried away with the non Saputo approaches If Saputo does secure Bega s stake hedge funds that hold between 10 and 15 per cent of Warrnambool may sell their shares to Saputo The funds may decide Saputo would have de facto control over Warrnambool if Saputo s stake tops 40 per cent The hedge funds shares would push Saputo s Warrnambool stake above 50 per cent If that happens Murray Goulburn Co operative Ltd could also offload its 17 7 per cent shareholding to Saputo because the co op s 9 50 a share Warrnambool takeover offer is dependent on it getting a majority stake Warrnambool s other major shareholder is Kirin Holdings Ltd with a 9 99 per cent stake Kirin s unit Lion has no intention to sell it at present as it views it as a strategic holding

    Original URL path: http://www.businessspectator.com.au/news/2014/1/10/mergers-acquisitions/saputo-pushes-begas-warrnambool-stake (2014-01-12)
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  • Palmer wants to repeal Newman laws | Business Spectator
    Green Deals Policy Politics Smart Energy Latest stories Marking the milestones of 2013 Australia s transition to a clean energy economy took some political blows in 2013 but progress on the ground was heartening with energy efficiency solar and wind all providing tangible proof of their future potential A fifth year of declining power consumption Power consumption fell again in 2013 dipping 2 8 per cent across the National Electricity Market as scheduled renewables rose to 12 per cent of the market Industries Advertising and Marketing Agribusiness Automotive Aviation Construction and Engineering Education Family Business Financial Services Food and Beverages Gaming and Racing Health and Pharmaceuticals HR Industrial relations Information Technology Infrastructure Insurance Manufacturing Media and Digital Resources and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu Palmer wants to repeal Newman laws 2 hours ago 2 Politics National Affairs Federal MP Clive Palmer says his party will stand at next Qld election You must be logged in to read this article Not a member yet Register today Business Spectator is available on all of your devices so you can access the latest news and commentary where and how you like Register now Already a member Sign in here Email Address Enter your Email Address Password Enter the password that accompanies your Email Address Remember me Log in Request new password AAP Federal MP Clive Palmer says his party will stand in the Queensland election and repeal all legislation passed by the Campbell Newman government if elected The Palmer United Party PUP achieved 11 per cent of the primary vote in Queensland despite establishing itself just two months before the September federal poll A bill will be presented to the Queensland parliament which will be a simple bill which in effect will have a provision that all legislation passed by the Newman government shall be repealed forthwith he told reporters on the Sunshine Coast So the message is help is on the way that we will get there that we will obliterate from the record books the history of the Newman government PUP is represented in the Queensland parliament through state leader Alex Douglas and deputy Carl Judge The party is expected next week to announce a high profile candidate for the Queensland seat of Kawana held by Attorney General Jarrod Bleijie Print this page Related articles 12 Jan Vic energy minister to step down 12 Jan Trade pact is close Robb 10 Jan Robb casts doubt on handouts 10 Jan Cabinet wary on SPC funding 09 Jan Senate inquiry into audit to hold hearing More from Business Spectator Technology Adapt or die Commercial The Future of Energy Family Business Alan Kohler s Family Business China China Spectator Please log in or register to post comments Comments on this article Comments Policy Amber Musaemu Mon 2014 01 13

    Original URL path: http://www.businessspectator.com.au/news/2014/1/13/national-affairs/palmer-wants-repeal-newman-laws (2014-01-12)
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  • Trade pact is close: Robb | Business Spectator
    Spectator is available on all of your devices so you can access the latest news and commentary where and how you like Register now Already a member Sign in here Email Address Enter your Email Address Password Enter the password that accompanies your Email Address Remember me Log in Request new password AAP The 12 nation Trans Pacific Partnership TPP free trade agreement is close to being sealed Australian Minister for Trade and Investment Andrew Robb says Mr Robb in the United States to lead the Australian government s delegation for the G Day USA promotion says the Obama administration has attempted to entice him to Washington DC for TPP talks Mr Robb told AAP on Saturday he would wait for formal TPP discussions scheduled in a couple of weeks The TPP is being negotiated between Australia the US Japan Canada Mexico Peru Chile New Zealand Singapore Malaysia Brunei and Vietnam countries that comprise almost 40 per cent of the world s GDP US President Barack Obama had set a deadline to clinch the TPP deal by the end of 2013 and is facing growing pressure from members of Congress critical of the secrecy around the discussions Mr Robb dismissed similar critics in Australia It is nonsense to suggest that people are in the dark Mr Robb who attended the G Day USA ball in Los Angeles on Saturday told AAP He was upbeat about the countries agreeing to the TPP It s ready to be sealed Robb said A few big things have to end up back on the table yet but it is close I would hope we are going to see progress obviously this year and sooner rather than later Print this page Related articles 13 Jan Palmer wants to repeal Newman laws 12 Jan Vic energy minister to step down 10 Jan Robb casts doubt on handouts 10 Jan Cabinet wary on SPC funding 09 Jan Senate inquiry into audit to hold hearing More from Business Spectator Technology Adapt or die Commercial The Future of Energy Family Business Alan Kohler s Family Business China China Spectator Please log in or register to post comments Comments on this article Comments Policy Martin S Sun 2014 01 12 23 25 Ugh This will be of no benefit whatsoever to the Australian population All it does is give American companies particularly in the Pharmaceutical and Entertainment a greater opportunity to rape and pillage the Australian citizen and tax payer Expect the cost of the interwebs to go up as ISP s have to police internet piracy and for the Australian taxpayer to pay increased medication costs as US Pharmaceutical companies are allowed to re patent existing medications and procedures Once again the Australian Government is rolling over to have it s belly scratched by the great US of A hole Amber Musaemu Mon 2014 01 13 02 43 I ve made 60 000 so far this year working online I am using an online business opportunityI heard about and

    Original URL path: http://www.businessspectator.com.au/news/2014/1/12/national-affairs/trade-pact-close-robb (2014-01-12)
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  • Financial Index to buy Centric Wealth for $130m | Business Spectator
    A fifth year of declining power consumption Power consumption fell again in 2013 dipping 2 8 per cent across the National Electricity Market as scheduled renewables rose to 12 per cent of the market Industries Advertising and Marketing Agribusiness Automotive Aviation Construction and Engineering Education Family Business Financial Services Food and Beverages Gaming and Racing Health and Pharmaceuticals HR Industrial relations Information Technology Infrastructure Insurance Manufacturing Media and Digital Resources and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu Financial Index to buy Centric Wealth for 130m Brett Cole 3 hours ago 1 DataRoom Mergers Acquisitions Industries Financial Services After the acquisition closes New York based KKR will take one third stake in Financial Index You must be logged in to read this article Not a member yet Register today Business Spectator is available on all of your devices so you can access the latest news and commentary where and how you like Register now Already a member Sign in here Email Address Enter your Email Address Password Enter the password that accompanies your Email Address Remember me Log in Request new password Financial Index Wealth Accountants Ltd plans to buy rival wealth planner and adviser Centric Wealth Ltd for 130 million after Centric Wealth s owner Champ Private Equity put the business up for sale six months ago US investment company KKR Co will invest 43 million to claim one third of Financial Index which will have 7 6 billion in funds under advice after the Centric Wealth takeover The two businesses are carbon copies of each other Financial Index s chief executive Spiro Paule told DataRoom They are identical in terms of culture Former Australian rugby union captain Phil Kearns is chief executive of Centric Wealth whose brand will be retained by its new owners Paule said Kearns future role in the new 400 personnel Financial Index is uncertain Paule and his partners will continue to own two thirds of Financial Index after the merger KKR Asset Management which has 20 4 billion in assets under management is the KKR affiliate that will take control of the stake in Financial Index The acquisition of Centric Wealth is a continuation of Paule s long term strategy to takeover similar businesses which started over a decade ago It has seen Financial Index make more than 40 acquisitions since 2001 Paule says the planned takeover of Centric Wealth will not be its last although he doesn t expect to do another deal this year In the acquisition of Centric Wealth Financial Index was advised by Jeff Singh s boutique firm Chase Corporate Advisory Print this page More from Brett Cole 13 Jan Singh behind key KKR deal 10 Jan Saputo pushes for Bega s Warrnambool stake 10 Jan Saputo tipped to extend Warrnambool offer 09 Jan Saputo s Warrnambool

    Original URL path: http://www.businessspectator.com.au/news/2014/1/13/mergers-acquisitions/financial-index-buy-centric-wealth-130m (2014-01-12)
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  • Obama picks Fed vice-chair | Business Spectator
    Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu Obama picks Fed vice chair 12 Jan 10 49 PM 1 Economy Global News US Economy US President chooses former Bank of Israel boss as deputy to Janet Yellen You must be logged in to read this article Not a member yet Register today Business Spectator is available on all of your devices so you can access the latest news and commentary where and how you like Register now Already a member Sign in here Email Address Enter your Email Address Password Enter the password that accompanies your Email Address Remember me Log in Request new password AP President Barack Obama has taken a step toward reshaping the United States Federal Reserve under incoming chairman Janet Yellen choosing a leading expert on the global economy to be her vice chairman Obama said on Friday he will nominate Stanley Fischer a former head of the Bank of Israel for the No 2 job at the Fed He would replace Yellen who was confirmed this week to lead the Fed Fischer a dual citizen of the United States and Israel was a long time professor at the Massachusetts Institute of Technology Departing Fed Chairman Ben Bernanke and Mario Draghi the current head of the European Central Bank were among his students Obama also is nominating Lael Brainard as a Fed governor Brainard served as the undersecretary for international affairs at Treasury during Obama s first term She left the administration recently He also is renominating Jerome Powell to the Fed for a second term All three nominations must be confirmed by the Senate These three distinguished individuals have the proven experience judgment and deep knowledge of the financial system to serve at the Federal Reserve during this important time for our economy Obama said in a statement The selections were largely expected and did little to change economists outlook for Fed policy this year All three will likely support Yellen s approach to fighting high unemployment as long as inflation stays low And all three are likely to back plans to gradually withdraw some of that support if the economy continues to show improvement In December the Fed said it would start reducing its bond purchases from US85 billion A95 87 billion a month to 75 billion a month Further measured steps are expected this year The bond purchases are designed to lower interest rates to spur borrowing and spending In selecting Fischer Obama is tapping someone with extensive experience in global economics Fischer served as chief economist at the World Bank deputy managing director of the International Monetary Fund and head of the Bank of Israel from 2005 until 2013 During his time at the IMF Fischer dealt with a number of countries in financial crises That included the 1997 98 Asian currency crisis which forced a number of nations to seek support from the IMF

    Original URL path: http://www.businessspectator.com.au/news/2014/1/12/us-economy/obama-picks-fed-vice-chair (2014-01-12)
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  • Vic energy minister to step down | Business Spectator
    fifth year of declining power consumption Power consumption fell again in 2013 dipping 2 8 per cent across the National Electricity Market as scheduled renewables rose to 12 per cent of the market Industries Advertising and Marketing Agribusiness Automotive Aviation Construction and Engineering Education Family Business Financial Services Food and Beverages Gaming and Racing Health and Pharmaceuticals HR Industrial relations Information Technology Infrastructure Insurance Manufacturing Media and Digital Resources and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu Vic energy minister to step down 12 Jan 11 16 PM 1 Politics National Affairs Nicholas Kotsiras decision allows potential leader Matthew Guy to move to lower house You must be logged in to read this article Not a member yet Register today Business Spectator is available on all of your devices so you can access the latest news and commentary where and how you like Register now Already a member Sign in here Email Address Enter your Email Address Password Enter the password that accompanies your Email Address Remember me Log in Request new password Victorian government minister Nicholas Kotsiras has announced he will step down at the November state election The Greek born member for Bulleen whose portfolios include multicultural affairs and energy and resources says he will end his parliamentary career to spend more time with his family Fifty years ago my parents landed at Station Pier so it s symbolic that I announce my retirement today a teary Mr Kotsiras told reporters at the same Port Melbourne pier on Sunday Mr Kotsiras 54 said his proudest achievement is his work in multicultural and the fact that we live in the most harmonious state in Australia The exit of the former school principal who was elected in 1999 raises the prospect that frontbencher Matthew Guy touted a Liberal leadership aspirant will move from the upper house to take over his lower house seat Mr Kotsiras said while branch members will elect the new candidate he backed Mr Guy if he chose to run I think he ll make a very very good member I would support Matthew Guy he said Mr Kotsiras said it has been a great privilege to serve in public life but he is looking forward to spending time with his grandchildren Family is very important and I ve missed my children growing up and I ve got four wonderful grandchildren today he said Premier Denis Napthine said Mr Kotsiras had made an outstanding contribution to Victoria particularly in multicultural affairs Nick is the epitome of achievement for somebody who arrived here as a young person who worked hard and has really reached the pinnacle in our democratic institution he told reporters Dr Napthine said a decision on whether Mr Kotsiras will remain minister until the November 29 election will be made after Liberal

    Original URL path: http://www.businessspectator.com.au/news/2014/1/12/national-affairs/vic-energy-minister-step-down (2014-01-12)
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