BHP Billiton settles tax dispute with Australian tax office
Mining giant BHP Billiton has admitted defeat in a long-running tax standoff with Australian authorities over a ruling that it owed money over a 15-year span for its dealings in Singapore. The dispute centered around whether BHP had to pay taxes on a subsidiary based in the city state of Singapore, given that its account…
Tech leaders call for greater social media regulation
Social networks need better regulation to stop them spreading ‘fake news’ and undermining democracy, disillusioned tech pioneers said at an industry conference that closed in Lisbon Thursday.The issue has come to the fore after the spread of false information, and allegations of Russian meddling, during election campaigns around the world.‘I think we’re only 10 percent…
Only 20% say banks are ethical and fair
Just one in three people believe their bank has their best interests at heart, while the same number trust their bank would to admit to making a mistake. And that was before the interim royal commission report on the sector’s poor culture and systemic wrongdoings. The release of inaugural Deloitte Trust Index for banking on…
ASC to cut more shipbuilding jobs
Adelaide-based defence shipbuilder ASC is looking to cut a further 63 jobs as work on the navy’s new air warfare destroyers winds down. ASC is close to completing the third and final ship and says that means it may need to cut 56 production jobs and seven salaried positions. It will consult with its workforce…
Role-swap for Magellan chairman and CEO
Fund manager Magellan Financial Group has announced a role-swap for its chairman and chief executive, ahead of its annual general meeting on Thursday. The company said current chair Dr Brett Cairns will move to chief executive officer and assume all operational duties effective from Friday, while co-founder Hamish Douglass is heading the other way, though…
CommSec Daily Report Monday
Latest NewsLocal shares fell in early trade on Monday before a recovery into lunch. The Healthcare sector led declines for the Index after Prime Minister Morrison announced plans for a Royal Commission into the aged care sector at the weekend. By contrast Telecoms and Utilities Only two sector managed to advance against the tide of…
Twitter to verify those behind hot-button US issue ads
Twitter on Thursday started requiring those behind hot-button issue ads in the US to be vetted as part of the effort by the social network to thwart stealth campaigns aimed at influencing politics.The tightened ad policy included requiring photos and valid contact information, and prohibited state-owned media or national authorities from buying political ads to…
Goodman Group Full Year Result
Goodman Group (GMG) beats its own earnings guidance Goodman Group (GMG) has reported a 9% lift in full year operating profit to $845.9 million and delivered an optimistic outlook for FY19. Click Here to view report & videoFor more Reporting Season coverage Click Here
Cormann defends energy prices modelling
Power prices will fall further than recent reductions under the Turnbull government’s proposed National Energy Guarantee, Finance Minister Mathias Cormann says. The minister has rejected former prime minister Tony Abbott’s claims that cast doubt on the estimates of a $550 a year saving on household electricity prices from the coalition’s technology-neutral policy, which will be…
Facebook cracks down on bogus posts inciting violence
Facebook on Wednesday built on its campaign to prevent the platform from being used to spread dangerous misinformation, saying it will remove bogus posts likely to spark violence.The new tactic being spread through the global social network was tested in Sri Lanka, which was recently rocked by inter-religious over false information posted on the world’s…
