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Optus boasts strong growth

Australian telecommunications carrier Optus has recorded its strongest growth in five years with its net profit in the three months to June showing steep increase.

Telstra reports lower full-year profit

Australia's telecommunications giant Telstra (AZX: TLS) today announced a 4.7 per cent decline in full-year net profit and forecast lower earnings in the year ahead.

Gillard to announce wider NBN coverage

Prime Minister Julia Gillard will be in Perth on Friday for the first time in the campaign for the federal election, and will declare that the coverage of the national broadband network will expand from 90 to 93 per cent of the country.
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Union says Telstra lay offs attack customer service

Australian telecommunications and media company Telstra (ASX: TLS, NZX: TLS) is continuing with its plans to lay-off the 900 operational employees announced several weeks ago, according to a statement released today by the Communications Electrical Plumbing Union.

IAG posts poor performance for fiscal year

Insurance Australia Group is the most recent insurance firm to report a poor performance for the previous fiscal year, as the season for reporting profit has turned sour for investors in insurance shares.

Talks address NBN skill shortfall

The Broadband Industry Training Network, a newly formed group, will convene in Melbourne tomorrow to address the lack of skilled technicians needed to construct the national broadband network.

Telstra gets fined for $18m

Telstra Corp. has been ordered by court to pay fines to the Commonwealth worth $18.55 million for violating the Trade Practices Act and its conditions for carrier licence by locking out other broadband companies from its telephone dealings.

Connxion Ventures corrects revenue for FY 2010

The Directors of data and transaction services company Connxion Ventures Limited (ASX: CXN) today announced that based on June billings and unaudited financial accounts, full-year revenue for 2010 are now expected to be $12.6 million, a 14.5 percent increase on the previously announced forecast of $11 million.

Insurer QBE posts lower profits

Australia's biggest insurer by market value QBE Insurance Group Ltd. recorded the biggest drop in Sydney trading in five months as it reported first half profits were off target.

AGL Energy diverts $300m debts

AGL Energy has announced that it has successfully diverted some of its debts to the American market as a part of its scheme to make the firm’s debt maturity longer and to diversify its sources of financing.

SA Premier encourages green energy plan

Premier Mike Rann of South Australia says the federal government’s scheme to integrate more green energy into Australia’s power grid is very good news for their state.

Facebook members hit 500 million

Facebook announced on its official blog that the number of people using the social-networking site had reached 500 million. The figures mean one in every 14 people on the planet has now signed up to the online community.

iiNet ups the bar with bonded DSL

iiNet has announced the release of its bonded ADSL service offering, making it the first internet service provider in Australia to provide such optimized services. The deployment of the bonded DSL technology, which can likely double network speeds by integrating two copper wire pairs, is aimed at the SME market.

MacBank primary lender in Healthscope acquisition

Macquarie bank (ASX:MQG) is the chief creditor to the TPG-Carlyle consortium buying Australia's second-largest hospital owner Healthscope, with the banker having about $150 million in committed funds out of total funded facilities of $1.2 billion and another $300m in committed but undrawn funds.

Business boosts travel growth

The growth in the number of Melbourne-Sydney passengers in May is because of the come back of business travellers, according to federal government figures released yesterday.

TPG and Carlyle to pay $2.7b for Healthscope

TPG and Carlyle will pay Healthscope $2.7 billion, the largest takeover offer for from a private equity concern in more than four years, for Australia's second-largest hospital owner.

Bright Dairy offers $58 M to Synlait

Synlait Milk Ltd., a New Zealand milk processing firm, will now have better chances of doubling its capacity at its South Island plant because of a new offer from Bright Dairy & Food Co.

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