Business

THE NEWS WRAP: Backlash against NBN business plan

Emma Krieger /

The backlash against the National Broadband Network’s business plan has already begun, with claims that the scheme’s profit margins will not be sustainable.

 

One senior telco executive told the Australian that the profit margins were “oppressive” and that cheaper access to broadband was available today.

 

Business anger at big four banks

 

The major banks are increasingly unpopular with businesses following their recent interest rate rises. Customer satisfaction figures have dropped for the first time since May, with Commonwealth Bank and NAB suffering the worst falls across all sizes of business

 

Documents claim that entrepreneur confessed to forgery

 

Court documents lodged by the wife of entrepreneur Matthew Perrin claims that he has confessed to forgery and hiding financial matters from his family. Perrin, former chief executive of Billabong, is accused of forging his wife’s signature and fabricating a fake power of attorney.

 

Overnight

 

The Australian dollar again made a push for parity, hitting 99.43 US cents overnight.

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