THE NEWS WRAP: Gina Rinehart makes move to become largest Fairfax Media shareholder
Tuesday, January 31, 2012/
Gina Rinehart, Australia’s richest person, has made a move to become the largest shareholder in Fairfax Media.
Rinehart, head of Hancock Prospecting, has taken her shareholding in the media company to 9%, with an attempt to increase this to 14%.
Last month, Rinehart’s wealth rose by an estimated $10 billion, to almost $20 billion.
Woolworths to axe Dick Smith stores
Woolworths is to close up to 100 underperforming Dick Smith stores across Australia as it looks to sell the electronics chain.
Woolworths said that a $300 million restructure of its business requires Dick Smith to be jettisoned, with a number of suitors already lining up to buy the flagging brand.
EC to probe Samsung patents
The European Commission is to investigate Samsung’s patent deals over whether they “distort competition in European mobile device markets”.
The investigation comes as Samsung is locked in a number of patent disputes with Apple.
The Dow Jones Industrial Average dropped 34.70 points, or 0.3%, to 12,619.02. The Australian dollar rose to 106.23 US cents.
Be honest about your situation: How vulnerability helps businesses thrive Sue Parker DARE Group founder
Own it: The 10 things you need to do to manage your personal brand Lisa Stephenson Who Am I Projects founder
Six invaluable lessons: What 20 years in aged care taught me about being an entrepreneur Natasha Chadwick NewDirection Care founder
An entrepreneurial superpower: Eight tips to help develop resilience Adala Bolto ZADI Training co-founder
Going through a lull? Five areas you should invest in when sales drop Tamara Alaveras and Sonia Majkic 3 Phase Marketing co-founders
Stop telling us how busy you are, it's boring and charmless Ian Whitworth Scene Change co-founder
Blandification™ and the state of modern branding Jeffrey Oley The Offices co-founder
Why you should find the right role for the right person — not the other way around Bruce Stronge Outfit founder