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  • Google fined record $3.57 billion by European Union over shopping service

    27 June 2017 11:35 AM 12

    The European Union's competition watchdog has slapped a record 2.42-billion-euro ($3.57-billion) fine on internet giant Google for breaching antitrust rules with its online shopping service. The body that polices EU competition rules, the European Commission, alleged Google systematically elevates its shopping service — even when other options might

  • Fewer Aussies identify as religious

    27 June 2017 5:40 AM 20

    More Australians are losing their religion, and for many home ownership is just a dream. The first batch of data, published on Tuesday, showed Australians are getting older, more are living alone and there's a growing number of same-sex couples. The country's population has doubled to an estimated 24.4 million in 50 years, with nearly two million people

  • Australian census: What does a state full of sandgropers really look like?

    27 June 2017 5:01 AM 17

    We're younger, richer, and have slightly more children than your average Aussie. But we also pay more rent, own more cars, and have a higher level of mortgage stress than many other capital cities. The latest Australian Bureau of Statistics' breakdown has revealed something we probably already intrinsically knew — sandgropers are just a little bit different

  • Yancoal, Glencore locked in year's biggest mining M&A battle

    27 June 2017 3:06 AM 15

    The data comes after Yancoal upped its offer on Monday, to retain its position as Rio Tinto's preferred buyer of the Coal & Allied thermal coal business. The Yancoal bid has a litany of advisers according to Dealogic, including financial advisers China Merchants Bank Co, JPMorgan and Morgan Stanley; legal advisers Baker McKenzie, King & Wood Mallesons

  • Santos, Chinese investors form partnership

    27 June 2017 12:21 AM 22

    Energy giant Santos has agreed to form a strategic partnership with key Chinese shareholders to jointly invest in gas exploration and LNG production in Australia and Papua New Guinea. Santos says it has formalised its relationship with signed an agreement with Chinese private equity firm Hony Capital and Chinese gas distribution company ENN Group, which

  • Financial exploitation of elderly rife in retirement villages

    26 June 2017 12:30 PM 29

    Residents of the multi-billion-dollar retirement village industry have described buying into a retirement village as a “financial sinkhole”. A joint investigation by the ABC’s Four Corners and Fairfax Media into retirement village company Aveo has uncovered exorbitant fees and complex contracts. One former resident describes Aveo’s business practices

  • AirAsia incident prompts expert warning on booking budget air travel

    26 June 2017 8:37 AM 15

    An aviation expert is urging Australians to think twice before flying with budget airlines after an AirAsia X flight bound for Malaysia was forced to return to Perth yesterday. Strategic Aviation Solutions chairman and aviation expert Neil Hansford said people must take responsibility for their own safety when flying and visit airline ratings websites

  • Australia's rising household debt could help push world into recession

    26 June 2017 6:51 AM 11

    Tax settings around housing investment are encouraging Australians to take on too much debt, which Labor says is a worry for the economy. Labor believes tax settings around housing are a factor behind ballooning household debt, warning it has big implications for the economy more broadly. The comments came as the global central banking authority, the Bank for International

  • Collins Foods is creating Australia's biggest KFC chain in a $110.2 million deal

    26 June 2017 6:25 AM 20

    Collins Foods is paying $110.2 million to acquire another 28 KFC restaurants in Tasmania, South Australia and Western Australia, cresting the largest chain of the fried chicken fast food outlets in Australia. The deal with Yum! Brands will be funded by a $44.1 million equity entitlement at $4.55 a share, a discount of almost 10%, and debt of $69.3 million

  • James Packer all at sea as Crown staff jailed and fined in Chinese court

    26 June 2017 5:25 AM 27

    Karl Stefanovic in Tahiti with girlfriend Jasmine Yarbrough and James Packer 0:40 TESTING times for James Packer culminated today with three Australian Crown Resorts employees handed jail sentences for promoting gambling in China. Senior executive Jason O’Connor was given ten months backdated to his arrest last October, while Jerry Xuan and Jane Pan Dan received