Business

THE NEWS WRAP: Google seeks High Court appeal

Oliver Milman /

Google is asking the High Court to overturn a finding that it published misleading and deceptive advertisements, in a case that will have big ramifications for online advertising.

 

A Google spokesman said the appeal against the full Federal Court’s decision was made because “we believe this decision has significant ramifications for search engines, online advertising platforms and others”.

 

The full court agreed with the Australian Competition and Consumer Commission earlier in the month that Google had breached the law because its advertising program, AdWords, was used by companies to create links to their websites via ads that wrongly referred to their rivals.

 

Airbus to pay for cracks but not compensation

 

Airbus will cover Qantas and other airlines for the cost of repairs to their A380s, which have suffered wing cracks, but says compensation will not extend to other bills.

 

Although the repair bill for the wing cracks in the worldwide superjumbo fleet is expected to top $134 million, the European aircraft manufacturer insists the setback has not dented interest in its flagship aircraft from airlines and the flying public.

 

Qantas has found serious “type-two” cracks in the wings of two A380s it inspected since European air safety authorities issued an airworthiness directive in February.

 

It is due to inspect a further three of its superjumbos this year for the problem, as part of the requirements under the airworthiness directive.

 

Investors fear for Seven

 

Investors have savaged Seven West Media shares, forcing the group’s share price 22.8% lower yesterday after an unexpected profit downgrade Tuesday night prompted a swathe of downgrades by analysts.

 

While Seven has outdone Nine and Ten in both ratings and advertising share in the past year, the market was shocked by the extent of the extra costs of its programming.

 

After falling 16% when the market opened, Seven West shares slid further in the last hour to end the day 86 cents lower at $2.91, levels last seen in October 2011.

 

Overnight

 

The Australian dollar has followed US stocks higher as investors stay positive about the outlook for the US economy.

 

At 6.30am, the local unit was trading at 103.96 US cents, up from 103.79 cents yesterday.

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