News archive from 20 December 2013

Telstra to sell stake Hong Kong-based mobile phone business CSL to HKT Limited for $2 billion

Telstra to sell stake Hong Kong-based mobile phone business CSL to HKT Limited for $2 billion

Telstra has announced plans to sell its Hong Kong-based mobile phone business CSL for $2.73 billion.In a statement to the share market, Telstra says it holds a 76.4 per cent of the company and would earn about about $2 billion through the sale to HKT...

ABC News, 11:09 in Business
 
Russian president Vladimir Putin makes surprise announcement to pardon jailed tycoon Mikhail Khodorkovsky

Russian president Vladimir Putin makes surprise announcement to pardon jailed tycoon Mikhail Khodorkovsky

Russian president Vladimir Putin is to pardon one of his best known opponents, oil tycoon Mikhail Khodorkovsky, after a decade in jail.Mr Putin made the surprise announcement that he would soon free Mr Khodorkovsky, once Russia's richest man, after a...

ABC News, 11:30 in Business
 
ERA cautious about impact of Ranger uranium mine spill as report warns of future problems

ERA cautious about impact of Ranger uranium mine spill as report warns of future problems

Uranium miner Energy Resources of Australia (ERA) says it is still assessing the financial impact of a toxic spill at its Ranger mine in the Northern Territory.It has been almost two weeks since operations ceased at the mine site after a 1,400 cubic...

ABC News, 12:03 in Business
 
CSIRO staff to take job cuts fight to Fair Work Commission

CSIRO staff to take job cuts fight to Fair Work Commission

The CSIRO Staff Association plans to take Australia's premier research and science organisation to the Fair Work Commission over its decision to cut hundreds of jobs.The Federal Government says up to 600 non-permanent CSIRO employees, including...

ABC News, 12:48 in Business
 
These falls may be just the beginning for the AUD

These falls may be just the beginning for the AUD

A declining dollar has been the great hope for boosting Australian competitiveness, which is why the Reserve Bank will be cheering America's decision to wind back its stimulus program, writes Michael Janda.Australians seem to pay a great deal more...

ABC News, 12:48 in Business
 
Treasurer Joe Hockey approves Chinese investment in electricity distributers, including SP AusNet

Treasurer Joe Hockey approves Chinese investment in electricity distributers, including SP AusNet

The Federal Treasurer Joe Hockey has granted conditional approval for a Chinese-owned utility to buy a stake in two Australian energy companies.The State Grid Corporation has been given the green light to buy 19.9 per cent of SP AusNet and 60 per cent...

ABC News, 12:54 in Business
 
SPC needs to be globally competitive to get government help: Truss

SPC needs to be globally competitive to get government help: Truss

The Federal Government says struggling food processor SPC Ardmona must prove it can be globally competitive if it is to receive a government bailout.The company has asked the Federal and Victorian Governments for $50 million to consolidate and...

ABC News, 12:58 in Business
 
Mitsubishi Electric fined for price-fixing bid

Mitsubishi Electric fined for price-fixing bid

Mitsubishi Electric Australia has been fined a total of $2.2 million for trying to induce a South Australian air conditioning retailer to fix prices.The Australian Competition and Consumer Commission took a case to the Federal Court. It alleged...

ABC News, 13:47 in Business
 
Creditors of failed Darwin Holiday Shop and Wallaroo Eco Tours unlikely to be repaid: liquidator

Creditors of failed Darwin Holiday Shop and Wallaroo Eco Tours unlikely to be repaid: liquidator

The liquidator of a tourism company that went into administration last week says he is referring the case to the Australian Securities and Investments Commission (ASIC).Dozens of boat, bus and tour operators have been left unpaid after George Parkyn's...

ABC News, 14:45 in Business
 
Plenty of construction in Carnarvon has lead to an increase in the cost of living

Plenty of construction in Carnarvon has lead to an increase in the cost of living

The construction of big-ticket projects in Carnarvon over the past two years has been blamed for an increase in the cost of living.The State Government's Regional Price Index, comparing metropolitan and country expenses, has found the cost of living...

ABC News, 14:52 in Business
 
Whitehaven Coal's massive coal mine to go ahead at Maules Creek, in the NSW north-west

Whitehaven Coal's massive coal mine to go ahead at Maules Creek, in the NSW north-west

The Federal Court has handed down its judgement over the coal mine proposal at Maules Creek in the NSW north-west, and has decided the approval granted by the former Environment Minister Tony Burke was valid.The approval granted by Mr Burke had been...

ABC News, 16:43 in Business
 
Feds to rule on Maules Creek Mine within days

Feds to rule on Maules Creek Mine within days

The federal Environment Minister, Tony Burke, is due to deliver an assessment of the Maules Creek Mine and the Boggabri Mine extension in 48 hours.The assessment of the two proposals, north of Boggabri in the Leard State Forest, are made under the...

ABC News, 16:43 in Business
 
Whitehaven extremely disappointed over Maules Creek delay

Whitehaven "extremely disappointed" over Maules Creek delay

Whitehaven Coal has issued a statement saying it's extremely disappointed federal Environment Minister, Tony Burke, has declined to make a determination on its Maules Creek Mine.The deadline for assessment of the project, in the Leard State Forest...

ABC News, 16:43 in Business
 
Four shot dead including mayor at Philippine airport

Four shot dead including mayor at Philippine airport

Authorities in the Philippines say gunmen have shot dead a town mayor and three other people at an airport in the capital, Manila, sending travellers fleeing for safety.Ukol Talumpa was mayor of a town called Labangan, Zamboanga del Sur. A member of...

ABC News, 16:43 in Business
 
Australian businesswoman Charlotte Chou, jailed in China for embezzlement, wins rare court victory

Australian businesswoman Charlotte Chou, jailed in China for embezzlement, wins rare court victory

An Australian businesswoman jailed in China for embezzlement has had her sentence cut in a rare court victory.Charlotte Chou had been serving an eight-year jail term but had her sentence reduced to five years by the Guangzhou Intermediate People's...

ABC News, 19:15 in Business
 
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