Alumina's legal challenge on Alcoa demerger pays off
CommSec fined $700k, refunds $1.1m over flaws in disclosure, identity checks
CommSec has been slapped with a $700,000 fine and has refunded $1.1 million after failing to properly disclose certain information to clients, and making inadequate identity checks of some customers.The Australian Securities and Investments Commission on Friday said the Commonwealth Bank-owned broker had processed more than 114,841 trades for retail clients without disclosing that it was acting for both the buyer and the seller in those transactions. Commonwealth Bank's CommSec unit has be..>> view originalACCC lays out rules to prevent Telstra getting unfair advantage through NBN contracts
The competition watchdog is laying ground rules for Telstra and NBN Co to ensure the telco giant does not get an unfair advantage through its construction and maintenance contracts. In particular, it wants to stop Telstra technicians prioritising Telstra customers and has banned Telstra uniforms and branding when contractors carry out repair work for NBN. And it wants to ensure Telstra does not get a head-start signing up customers after completing a tax-payer funded upgrade of its cable netwo..>> view originalQantas share surge a windfall for CEO Alan Joyce
CarAdvice to be sold to Nine for a reported $30 million
A car review website that began as a blog just 10 years ago is set to be taken over by Nine Entertainment which has reportedly offered more than $30 million for a controlling stake in CarAdvice.The site was started by car enthusiast Alborz Fallah in 2006, and is now one of Australia's leading online car reviewers.Nine's chief digital and marketing officer Alex Parsons says CarAdvice provides a great opportunity for Nine to tap into the car market, which is the single largest ad category for both..>> view originalAurizon appoints Andrew Harding chief executive
Andrew Harding departed Rio Tinto this year as part of a management shake-up. Philip Gostelow Aurizon wanted the "very best candidate" for its next chief executive and seized the opportunity to nab former Rio Tinto executive Andrew Harding when he left the miner two months ago, chairman Tim Poole has revealed."Government organisations typically take many cycles to get match fit and we wanted the next CEO to be someone who has demonstrated a c..>> view originalChina threat to dairy exports
Australia's image as a clean and green dairy producer is under threat in China after the entire industry was put on notice by regulators who claim to have detected food safety issues.Exports of fresh milk from Australia appear to be the main focus for Chinese authorities, after nine shipments were blocked from entering the country this year."It is worth noting... all the imported pasteurised milk (fresh milk) that has been disqualified... is from Australia," said industry website, Dairy Home, ..>> view originalGuy Debelle promoted to Reserve Bank deputy governor
Holden moves to reinvent the wheels as a lifestyle brand
For Australia's car makers, it started with a bang, and is ending with a whimper.The bang came in 2013, just days before Christmas, when then Treasurer Joe Hockey and acting PM Warren Truss famously stood up in parliament and goaded Holden into leaving the country. In a calculated performance - one seemingly designed to both flush out GM's intentions and back the car maker into a corner - the Treasurer said it was time for Holden to "come clean" and be "fair dinkum" with the Australian people o..>> view originalMasters' fire sale to create a flood
Tuesday, September 13, 2016
Alumina's legal challenge on Alcoa demerger pays off and other top stories.
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