Telstra Shares and the NBN - Talking Business 2010 Ep 44c

A review of the week in business, with expert analysis and commentary

Leon and Garry talk about Telstra share soaring with the Government getting the NBN legislation through parliament. The new anti-siphoning laws provide wins for both free to air TV and pay TV. Mining magnate Gina Rinehart takes a stake in the Ten Network. Harvey Norman chief Gerry Harvey says retailers are in for a bad Christmas and wants the GST imposed on imported goods acquired off the Internet. Metcash defies the ACCC and announces it will pursue acquisition of Franklins. Private business investment jumps in the September quarter but there is a fall in construction activity. Qantas announces it will resume flying the Airbus380 and Australia’s banking sector is in for a shakeup with Treasurer Wayne Swan saying he wants to introduce a new pillar. Shares in QR National trade 4% higher on their debut. Fortescue Metals says it will take on $4 billion worth of more debt but ASIC is pursuing the company for misleading announcements. The Federal Government announces an audit of foreign ownership of farming business. Westfield will make $490 million selling half its London shopping mall. Fairfax announces a management restructure to take on digital media. Billionaire Clive Palmer gives his workers massive perks for Christmas but the Commonwealth Bank cancels one of tis Christmas parties. Wine and beer sales are down. PBL Media plans a $5 billion float next year. The Australian Crime Commission drops its investigation into Paul Hogan’s tax activities. Melbourne architecture firm Fender Katsalidis has won a tender design for the world’s second biggest building in Malaysia. ANZ misses out on buying a stake in the Korea Exchange Bank.

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Garry Barker and Leon Gettler
RMIT, Business, Economics, News