Category: Business
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TPG makes new bid for Fairfax with $2.7 billion cash offer
A consortium affiliated with TPG Private Equity group has raised its initial offer to acquire Fairfax media after a market share rise. The offer values Fairfax at around $2.75 billion and is a 12% rise on the company’s closing share price of $1.07 last week. In early trade today, Fairfax shares rose 7% to $1.147, which represents an increase…
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Lessons for a jobseeker
Looking for work can be very stressful. A typical jobseeker will go from interview to interview, applying for jobs and trying to impress people, and when an opportunity ends in disappointment, it can be a bitter pill to swallow. However, there are a few important lessons about the world of employment that will hopefully keep bad job…
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Malcolm Turnbull in delayed meeting with Donald Trump
Prime Minister Malcolm Turnbull is finally meeting with US President Donald Trump this morning, after an intended meeting yesterday was delayed due to Trump’s occupation with his renewed healthcare bill. Mr Trump chose to remain in Washington last night instead of travelling to New York to meet with Mr Turnbull as he oversaw the passage…
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Turnbull government defends action on gas prices
The Federal Government has defended its move to place export restrictions on domestic gas supplies, after the Opposition questioned the claim that gas prices could be reduced by half under the new measures. The government has moved to remedy the current situation, wherein the vast majority of Australia’s domestic gas is shipped overseas, by placing restrictions…
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Tesla recalls luxury model cars globally
Tesla’s luxury electric Model S and Model X cars have suddenly been recalled worldwide due to concerns that their parking brakes pose a possible safety threat. The major recall is cautionary and thankfully there have been no reported incidents, but Tesla wants to avoid last year’s debacle. The vehicles being recalled are Model S and Model…
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Chevron loses appeal against ATO
US energy giant Chevron is now facing one of the largest tax bills in Australian history after it lost its appeal against the Australian Tax Office (ATO). In a unanimous decision, three Federal Court judges dismissed the appeal, which was originally launched in December last year. The decision involves Chevron underpaying tax in the years…
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Opposition presents alternative housing affordability plan
The Federal Opposition has presented an alternative solution to the housing affordability crisis, detailing a plan to crack down on self-managed superannuation funds as well as imposing higher fees and penalties on foreign property investors. Ahead of next month’s Federal Budget, which will reportedly include a Coalition plan to combat housing affordability problems, Labor has put…
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5 tech trends small businesses need to know
Running a small business is an all-encompassing task. Often, small business owners have built their businesses from the ground up and monitor every element of their business to ensure that it’s operating as it should. However, modern technology is able to lessen the load of running a small business or startup company. There are many applications…
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Unemployment remains steady at 5.9%
Australia’s unemployment rate has remained steady throughout March, after larger-than-expected gains in full time job growth. According to the Australian Bureau of Statistics (ABS), the unemployment rate has remained steady at 5.9%, which is in line with market expectations. Figures released by the ABS show that full-time employment is largely the reason behind the steady rate, with seasonally…
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TPG announces mobile network and Telstra shares drop
Telstra shares have fallen dramatically after the announcement that competitor TPG has acquired the last of Australia’s 700MHZ spectrum. 700MHZ is considered premium for mobile phone networks, as it requires fewer towers to cover a greater distance. The Australian Communications and Media Authority says TPG paid $1.26 billion for 700 MHz spectrum. This now means that there will…