Welcome to a new week:
1. NBN chief Bill Morrow says his organisation will need a bailout or regulatory protection to survive. With mobile networks emerging a competitive threat, and the company hamstrung by an obligation to turn a profit for the government, the CEO says something needs to give. He spoke to Fairfax Media to pre-empt a story on the NBN on ABC TV’s Four Corners program tonight. Read more here.
2. Surprisingly, Malcolm Turnbull says the NBN was “a mistake” and agrees it’s not commercially viable. The prime minister said the situation now is better than if another $30 billion was spent to build universal fibre-to-the-premises per Labor’s original plan. Turnbull says the ALP should have split Telstra’s wholesale infrastructure team from the rest, then commissioned it to build the national network. Read more.
3. Kogan is going gangbusters. The online retailer has increased its inventories by $12.8 million to $52.5 million as it anticipates a Christmas shopping rush. The ASX-listed company’s shares now trade at $4.36 after dipping below its IPO price of $1.80 in July last year. Read more.
4. The NRMA is spending $10 million to build electric car charge stations. The motoring association wants to construct “at least 40 chargers” in NSW and ACT with the money it has after a “strong financial performance in 2016-17”. Read more here.
5. Data Republic will deliver a data marketplace for the NSW government. iTnews reports the new dMarketplace will facilitate secure discovery, access and use of data held by government bodies. Data Republic has been granted a three-year $4.4 million contract to implement this on their Senate platform.
Business Insider Emails & Alerts
Site highlights each day to your inbox.