Business

THE NEWS WRAP: Gina Rinehart’s daughter launches legal action against her mother

Emma Krieger /

Gina Rinehart, Australia’s richest person, has been made the subject of a surprise legal claim by her daughter in the Supreme Court of New South Wales.

 

According to Supreme Court documents, legal action was launched by Hope Rinehart Welker yesterday. It’s not clear what the claim relates to.

 

Rinehart has built an estimated $10.3 billion fortune through her mining company, Hancock Prospecting.

 

Murdoch admits to News Corp “black eye”

 

Rupert Murdoch has admitted that the News of the World phone hacking scandal has been a “major black eye” for News Corporation.

 

In a written statement in the company’s annual report, the media mogul said that the behaviour of the UK tabloid’s journalists was “unacceptable”, but that the overall outlook for News Corp was good.

 

“We are better positioned financially and operationally than we have ever been,” Murdoch wrote.

 

Bolton in ATO dispute

 

Entrepreneur Nicholas Bolton is battling the Tax Office over an alleged unpaid tax bill of $654,000.

 

The ATO is threatening to wind up one of his companies over the debt, following the closure of another of Bolton’s businesses, Australian Style Services, last year over deficits of $600,000, including unpaid super.

 

Overnight

 

The Dow Jones Industrial Average was down 1.04% to 11,295.81. The Australian dollar fell to 105.75 US cents.

 

 

 

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