Tabcorp legal costs rise in fight against money-laundering allegations
Tabcorp has spent almost $20 million in pre-tax income on legal fees for its case against the government's financial intelligence agency, it revealed in its full-year results on Thursday. Tabcorp is accused of breaching Australian anti-money laundering laws by failing to report suspicious transactions. Tabcorp CEO David Attenborough says the company has "raised the bar" on compliance in the past year. Photo: Wayne Taylor AUSTRAC has alleged that Tabcorp contravened its reporting obliga..>> view originalRio Tinto willing to sacrifice its 'lowest cost' crown for cash
Rio Tinto chief executive Jean-Sebastien Jacques says the company would be willing to concede its mantle as Australia's lowest cost iron ore producer if it meant boosting free cash flow.Rio retained the lowest unit costs in the Western Australian iron ore division in the first half of 2016 despite a spirited challenge from Fortescue Metals Group and BHP Billiton. Unit costs in the Australian iron ore industry have plummeted. Photo: Michele Mossop Rio produced at a "C1" unit cost of $US14..>> view originalACCC's on the phone as telcos caught in crosshairs
THE competition watchdog has launched an investigation into internet and communications companies amid concerns providers are not keeping up with consumer demand and the need to keep upgrading technology.Australian Competition and Consumer Commission chairman Rod Sims last night announced a market study into the communications industry to look at internet supply, price and competition issues affecting consumers.According to Mr Sims, the four main areas the study will focus on are internet speeds..>> view originalMajor banks question Malcolm Turnbull's decision to have sector front Economic Committee
Major banks question Malcolm Turnbull's decision to have sector front Economic Committee Updated August 04, 2016 19:35:10 The banking sector has questioned why its executives will be hauled before a parliamentary committee when no other businesses are forced to "justify their commercial pricing decisions".Prime Minister Malcolm Turnbull and Treasurer Scott Morrison have announced the nation's major banks will have to face the House of Representatives Economics Committee..>> view originalMerger a prescription for pharmacy giant
Fair Work to allow employees to cash in their holidays
Vitamins firm Vitaco attracts Chinese giants in $314m deal
A Chinese consortium is set to swallow Australian vitamins and supplements maker Vitaco for more than $300 million.Less than a year since listing on the Australian sharemarket, Vitaco has entered a scheme arrangement with Shanghai Pharmaceuticals and Chinese investment firm Primavera Capital. Vitaco CEO Ryan d'Almeida. The group's brands include Nutra-Life, Bodytrim and Musashi. Photo: Louise Kennerley Vitaco's range of brands include Nutra-Life, Bodytrim and Musashi.China has a big appe..>> view originalCall for wise gas talk
THE debate about developing onshore gas deposits needs to be based on science rather than “scare campaigns from activists in coffee shops”, the head of Shell Australia has said.Andrew Smith also said the resources sector was a natural ally of farmers and gas projects shifted capital raised in New York and London into the milk bars, shops and restaurants of Australian rural communities.“Our regions are more than day spas and organic bakeries that are available to city dwellers when they seek fres..>> view originalQueensland farmers angry over land clearing legislation
MARK COLIVN: A group of Queensland farmers marched on the state's Parliament House in Brisbane today. They're angry about legislation that would stop them cutting down trees and clearing scrub. Land clearing was responsible for an estimated 7 per cent of Australia's carbon emissions in 2009. Since then the extent of land clearing in Queensland has tripled, with 296,000 hectares of bush cleared in 2013-14. But today's protesters, chanting “Fair laws for farmers”, want the Palaszczuk Government..>> view originalStocks lift on energy sector
Stocks lift on energy sectorThe Australian sharemarket has ended higher despite fading sharply in afternoon trade, as the big banks gave back gains and two of the country’s biggest miners were shunned.At the closing bell, the benchmark S&P/ASX 200 index had added 10.1 points, or 0.18 per cent, to 5,475.8, while the broader All Ordinaries index gained 12 points, or 0.22 per cent, to 5,563.4.At one point the benchmark traded up three quarters of a per cent, but buying pressure wilted as the day pr..>> view original
| A dark day for New South Wales Health . | Sydney: Wet, cool and cloudy days ahead. . |
| Sydney: Winter sunshine galore. . | Baby dies at Bankstown-Lidcombe Hospital after oxygen mix-up in ... . |
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