The Telecommunications Industry Ombudsman reviewed 27,882 complaints from rural, regional and remote Australians, finding systemic problems with mobile and telecommunications services and calling for a major regulatory overhaul.
BUSINESS
KPMG Audit Scandal Puts Macquarie, Westpac Under Scrutiny
Macquarie and Westpac leaders are set to testify as lawmakers examine allegations that KPMG misused confidential data to secure audit contracts.
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Telstra Reports A$2.4B Annual Profit as CEO Pay Rises after Outage
Telstra reported a A$2.4 billion annual profit, raised CEO Vicki Brady’s remuneration and confirmed 1,200 job cuts as the telecom giant continues to recover from July’s nationwide outage.
Rio Tinto Wins A$2.5 Billion Government Backing to Secure Tomago’s Future
The package will underpin a new 10-year power agreement for the Hunter-region aluminium smelter, supporting thousands of manufacturing jobs and nearly 3GW of new renewable generation and firming capacity.
Business
Google Chief Scientist Jeff Dean to Raise $10B Valuation for New AI Startup
Jeff Dean’s new AI startup Discovery Loop is reportedly seeking $1 billion in funding at a potential $10 billion valuation, with Alphabet as a founding investor.
Telstra CEO Gets A$6.1M Pay Packet Despite Revenue Decline
Telstra CEO Vicki Brady’s pay climbed 11% even as the telecom giant’s annual revenue declined to $22.94 billion.
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Roger Federer Loses Billionaire Status After $74M Fortune Hit
The tennis legend’s estimated fortune dropped below $1 billion after a steep sell-off in Swiss sportswear company On Holding.
02
Panda Mart Faces Shutdown in Victoria Over Product Safety Breaches
Consumer Affairs Victoria is seeking a court injunction to stop the discount retailer from trading at its two Melbourne stores, citing dangerous, incorrectly labelled and permanently banned products.
03
RBA Holds Rates at 4.35% as Cost Pressures Keep Squeezing Australians
The rate pause offers little relief for households and small businesses facing 3.8% headline inflation, rising housing costs and higher grocery, energy and insurance bills.