Ten and Foxtel in talks

Ten and Foxtel in talks

Ten Network Holdings has played down speculation that it is close to sealing a deal that would see pay TV player Foxtel take a 14.9 per cent stake in the troubled broadcaster. Foxtel is close to agreeing a deal with Ten that would see it inject about $85 million into the free-to-air-broadcaster, The Australian Financial Review reported on Monday.

  • BHP hit with $522m tax bill AAP - 39 minutes ago

    BHP Billiton has been hit with a $522 million bill that the Tax Office says it owes for tax avoidance through its Singapore marketing operations. BHP Billiton has responded to questions from the Senate inquiry into tax avoidance saying it is contesting the Tax Office assessments, which are continuing. Of the $522 million, $221 million are penalties for alleged tax avoidance.

  • Cuba claims just tell stories now AAP - 43 minutes ago

    Inside the offices of a little-known US federal agency, more than 5,900 claims files tally the furniture and factories, clothing and cars that once belonged to Americans in Cuba. Edmund Chester's story began soon after he came home to Louisville, Kentucky, from the Army and got a job as a newspaper reporter. In his off hours, Chester taught himself Spanish, which lead him away again. Chester spent the next decade reporting across the Caribbean and Latin America.

  • Cuba claims applicant won't give up AAP - 44 minutes ago

    In 2007, Creighton professors held a news conference to announce their findings about US residents' claims regarding property confiscated by Cuba. The possibility that the Chester family's losses, once worth $US489,000, might instead be devalued, rankled Carolyn Chester. She dug for information, trying to understand how it was that, with so many non-US companies investing in Cuba, its government could possibly have so little to repay claims. Poring over articles about Cuba, she disputed comments from readers who labelled the Americans who had lived on the island as mobsters who got what they deserved.

  • Cuba's economic landscape set for change AAP - 44 minutes ago

    The economic landscape of communist Cuba looks set for a major change as strained relations between the Caribbean island nation and the US begin to thaw. But while US and Cuban businesses may be about ...

  • Cuban snatched property claims reviewed AAP - 44 minutes ago

    About a decade ago, the notion of a Cuba without Fidel Castro began to seem increasingly possible. "Fidel's looking infirm, and the Bush administration decides, well, if something happens in Cuba we need to have a plan in place," says Michael Kelly, a professor of law at Creighton. Two professors flew to Cuba, searching for homes and businesses listed in claims paperwork, only to find the names of streets had changed. "Each of these tells a little bit of a story," political science professor Rick Witmer says, pointing to entries in a computer database he built from bits of detail about each of the claims.

  • Loss of Cuban home sits heavy AAP - 44 minutes ago

    Edmund Chester, in his early 60s with three young children, couldn't afford to retire. "The chicken farms were a financial disaster," son Edmund Jr says.

  • Americans cling to Cuba claims AAP - 44 minutes ago

    The smell of Cuban coffee drifts from the kitchen as Carolyn Chester digs through photos, faded with age, that fill four boxes spread across the dining table.

  • Thousands of Cuba claims remain AAP - 44 minutes ago

    Throughout the 1960s, the US government's Foreign Claims Settlement Commission fielded thousands of American claims for confiscated Cuban property. The largest came from corporations, led by US-owned Cuban Electric Company, whose seized power plants were valued at $US268 million. After years of mergers, that claim is today held by retailer Office Depot Inc. Luther Coleman was a Detroit entrepreneur who moved his family to the Isle of Pines in 1952, where he bought more than 3,000 acres (1,214 hectares).

  • Share market firms, led by big miners AAP - 52 minutes ago

    The share market is edging closer to the 6,000 market as better commodity prices boost the big miners. The key S&P/ASX200 index has reached a two-week high, with BHP Billiton and Rio Tinto helping the ...

  • Lower $A will boost GDP, economist says AAP - 1 hour 6 minutes ago

    A big fall in the Australian dollar would lift the economy into recovery mode, with mining, tourism and manufacturing likely to be among the big winners. On Monday, JP Morgan economist Tom Kennedy backed a weaker dollar to put the economy on a stronger growth track, with a 10 per cent fall in the Aussie expected to lift gross domestic product by 0.6 percentage points over two years. Mining, tourism and manufacturing would likely get the biggest boost from a continued fall in the Australian dollar, Mr Kennedy said. "We find a permanent 10 per cent decline in the real TWI (trade-weighted index) will lift GDP growth by a cumulative 0.6 percentage points over two years," Mr Kennedy said.

  • Aussie investors are more cautious AAP - 1 hour 10 minutes ago

    Australian investors are much more cautious and pessimistic about the future compared to their global counterparts. Some 77 per cent of Australian investors describe themselves as somewhat or very conservative, with most of those motivated to ensure a comfortable retirement. The group's global head of distribution marketing Matt Schiffman said Australian investors cared more about minimising risk than growing wealth.

  • M2 offers $2.25b for iiNet AAP - 1 hour 11 minutes ago
    M2 offers $2.25b for iiNet

    Internet provider M2 Group has made a $2.25 billion takeover offer for rival iiNet, setting up a possible bidding war with TPG Telecom. The offer is well above TPG's all-cash $1.4 billion offer, which ...

  • Bendigo Bank issues preference shares AAP - 1 hour 14 minutes ago
    Bendigo Bank issues preference shares

    Bendigo Bank will issue around $200 million in new convertible preference shares. The lender says it would use the proceeds to fund the redemption of existing preference shares and for "general corporate purposes". The preference shares are expected to have a margin of between 4.0 per cent and 4.25 per cent above the cash rate.

  • $1.1 China bid for PanAust 'unreasonable' AAP - 1 hour 26 minutes ago

    Guandong Rising Asset Management's $1.17-a-share offer is "neither fair nor reasonable", accounting giant E&Y says. E&Y had assessed the company to be worth between $1.84 and $2.04 a share, PanAust said in its target statement on Monday. "After careful review of the GRAM (Guangdong Rising Asset Management) offer including engagement of an independent expert, the independent directors are of the unanimous view that the offer is inadequate and GRAM should pay more to acquire increased ownership of PanAust," chairman Garry Hounsell said.

  • Aust shares open higher AAP - 1 hour 32 minutes ago
    Aust shares open higher

    The Australian share market has opened higher. At 1010 AEST on Monday, the benchmark S&P/ASX200 index was up 23.7 points, or 0.40 per cent, at 5,957.0, while the broader All Ordinaries index was up 22.2 ...

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