Category: News
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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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Budget invests in a reliable energy future
A $265 million energy package in the 2017 Federal Budget will ensure Australia maintains a secure, competitive and reliable energy system into the future. The nation’s energy system is undergoing its greatest transition since electricity became widely available in Australia. The measures in this package will set Australia up for a modern and dynamic energy…
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Five solutions for afternoon burnout in the workplace
It’s almost a ritual in the workplace. The ubiquitous mid-afternoon slump that gets to all of us, no matter how fresh we feel bouncing into the office at 9am. So how do we counteract this threat to productivity in simple and realistic ways when all we seem capable of doing is daydreaming or, worse, nodding…
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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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NAB posts $2.5bn profits but does not meet expectations
National Australia Bank (NAB) has posted an overall net profit for the first half of the financial year of $2.5 billion which, while falling short of expectations, has marked a dramatic improvement on the $1.7 billion loss posted this time last year. NAB’s cash profit, which is the bank’s preferred performance measure since it is…
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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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Federal Budget to distinguish between ‘good debt’ and ‘bad debt’
Federal Treasurer Scott Morrison has announced changes to the way the upcoming budget will be reported, to clarify the differences between ‘good debt’ and ‘bad debt’, adding to the new ideas being touted for this year’s budget review. Mr Morrison will announce the changes in a speech at a lunch with the Australian Business Economists today…
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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…