The National Broadband Network (NBN) project has received a timely boost, with Optus in talks to transfer its 500,000 broadband customers to the network.
The deal echoes the agreement struck between Telstra and the NBN. Optus’ participation will appease its arch-rival, which was concerned about competition to the NBN.
In less favourable news for Optus, a case brought by the ACCC against the telco has seen its broadband offering compared to a Ferrari with one gear. The consumer watchdog claims that Optus is using misleading advertising by slowing broadband speeds once customers go over a set limit.
Women still hitting glass ceiling
Australia compares poorly to other countries in the representation of women in senior company roles. A new report found that women hold just 8.4% of board directorships at the top 200 businesses in the country.
Perhaps surprisingly, the amount of male-only boards at ASX 200 companies has increased by 3% to 54% over the last two years.
NSW businesses back coalition
Business groups have thrown their weight behind the coalition ahead of the upcoming NSW state election.
Labor, facing near-certain defeat in the March poll, has lost the support of several key private-sector donors, with businesses switching to Barry O’Farrell’s opposition party.
Telstra to launch tablet
Telstra is set to enter the tablet market with the launch of the T-Touch Tab. Details on the device are still sparse, although Telstra has said that it will be flash-enabled, unlike the iPad, and will be available by Christmas.
The Australian dollar jumped almost US1.5 cents higher, hitting a peak of US97.26 cents.
Meanwhile, US stocks hit a five-month high on the back of strong economic data.