Telstra has won a $200 million legal battle against NBN Co in the NSW Supreme Court this morning.
Fairfax reports the telco giant has successfully sued NBN Co over the timing of consumer price index increases applied to its $11 billion deal to access Telstra infrastructure to build the national broadband network.
While NBN Co said the CPI increases should have applied from 2013, Telstra argued the increases should apply from 2012. The parties agreed that the 12 months difference amounting to $200 million over the life of the contract.
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A spokesperson for NBN Co told Fairfax the ruling was disappointing and the NBN Co is now considering its options.
Waterhouse to take top job at betting giant William Hill
Tom Waterhouse has been appointed as chief executive of the Australian operations of betting giant William Hill, reports Fairfax.
Waterhouse, who sold his eponymous online betting business to William Hill in August 2013, fills a position left vacant by Sportingbet chief executive Michael Sullivan in April.
In Australia, William Hill operates tomwaterhouse.com.au as well as Sportingbet and Centrebet.
Shares up on open
Aussie shares have opened higher this morning, following Wall Street’s strong lead.
The S&P/ASX200 benchmark was up 23.6 points to 5542.5 points at 12.15pm AEST. On Wednesday, the Dow Jones closed 77.52 points higher, up 0.45% to 17138.2 points.