Economy

Telstra hacked and 35,000 customers affected: Midday roundup

Engel Schmidl /

Telstra has been hit by a “hacking attack” affecting 35,000 customers.

The hacking attack occurred on the servers of a third-party company that runs Telstra BigPond’s GameArena and Games Shop websites, the telco said in a statement this morning.

“Information that might have been obtained was limited to BigPond Games user names, the email address used to join the site and the encrypted GameArena and Games Shop passwords of up to 35,000 customers,” Telstra said.

The telco reset the passwords of users of those sites “as a precaution” despite them being encrypted.

“We will contact affected customers, with their new password, as soon as possible,” it said.

Markets

The Australian stock market opened higher despite tumbles on European stock exchanges ahead of a crucial EU summit, and a mixed result on Wall Street overnight.

At the market opening the benchmark S&P/ASX 200 index rose 0.30% to 4,079.6 points and the broader All Ordinaries Index gained 0.29% to 4,131 points.

Miguel Audencial, sales trader at CMC Markets, said the Australian equities market was set for a positive start after an inspiring comeback from its US counterpart overnight.

“However, it was the optimism that European policy makers can provide a solution to the Greek crisis that instigated a sharp turnaround in the equities market,” said Audencial.

AGL announces $900 million capital raising

Energy retailer AGL has announced it will undertake a $900 million capital raising after securing approval from the Australian Competition and Consumer Commission.

The company said in a statement the funds will be used to acquire the Great Energy Alliance Corporation.

The company currently owns a 35% stake in GEAC.

“This acquisition represents a unique opportunity to acquire a high quality generation asset and a long-term fuel resource,” managing director and chief executive Michael Fraser said in a statement.

ACCC chairman Rod Sims said the proposed acquisition was unlikely to lessen competition in the energy market.

GEAC owns the Loy Yang A power plant in Victoria.

France pushes to launch Eurobonds after summit

French president Francois Hollande has said he wants to see eurobonds “written into the agenda” of the European Union.

German chancellor Angela Merkel has come out in opposition to eurobonds, but Hollande told a news conference last night he has a “different conception” of what they might be.

“There is perhaps a means by which to mutualise… future debt to enable countries … to access financing more easily on (money) markets,” he told reporters.

The bond would allow governments to “finance investments”, he said.

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