Markets

Telstra’s chairman just admitted executives in Australia are paid too much

Telstra chairman John Mullen says “everybody is unhappy” with the pay of executives in Australia. He was speaking at the AGM today about his deep disappointment at a backlash against the telco’s remuneration report. He says directors don’t sit around like the Witches of Macbeth scheming how they can manipulate […]
Telstra’s chairman just admitted executives in Australia are paid too much
Markets

Julian Ogrin is out as CEO of amaysim

The CEO of amaysim, Julian Ogrin, is leaving to take up a role at cable TV player Foxtel. amaysim founder Peter O’Connell will replace him. The junior telco also upped its profit guidance based on stronger sales. Julian Ogrin, who has been CEO of junior telco amaysim since 2015, is […]
Julian Ogrin is out as CEO of amaysim
Tech

Optus is cutting another 400 jobs

Optus, Australia’s second largest telecommunications company, is making 400 jobs redundant as it restructures to meet increasing competition. The company had 8526 staff at the end of the last financial year. “Optus is making a step-change to the way we work, do business and fund future investments so we can […]
Optus is cutting another 400 jobs
Markets

S&P has downgraded Telstra as the NBN hit reaches $3 billion

S&P Global Ratings has lowered Telstra’s long and short term ratings. The agency says Telstra’s strong incumbent position within the Australian telecommunications industry has “diminished”. And the earnings impact of migrating to the NBN is likely to be at least $3 billion. S&P Global Ratings has cut its ratings on […]
S&P has downgraded Telstra as the NBN hit reaches $3 billion
Tech

Stop forcing the NBN to make a profit, says the consumer watchdog

Australia’s consumer watchdog has suggested the federal government should consider liberating the NBN from its obligation to deliver a profit for Treasury. The Australian Competition and Consumer Commission (ACCC) released its draft report on the communications sector on Monday, with the national broadband network a major topic of discussion. With […]
Stop forcing the NBN to make a profit, says the consumer watchdog
Tech

Australians are really unhappy with the NBN

Complaints about the NBN more than doubled for the 2017 financial year, according to the Telecommunications Industry Ombudsman. The dispute handling authority received 27,195 complaints about NBN services in the year ending June 30, 2017 – up 159.3% from the previous year’s 10,487 – according to its annual report released […]
Australians are really unhappy with the NBN
Markets

Vocus faces a class action by disgruntled shareholders

Vocus has been hit by a proposed class action of disgruntled shareholders after the telco earlier this year scaled back its profit guidance. The owner of Dodo, iPrimus and Orcon in May downgraded its 2017 guidance forecasts including underlying net profit to $160 million-$165 million from $205 million-$215 million. And […]
Vocus faces a class action by disgruntled shareholders
Markets

TELSTRA IS GETTING SMASHED

The strong flow of dividends from Telstra are about to shrink. Australia’s biggest telco today foreshadowed an almost 30% cut in dividends during the current financial year after a big 12 months of share buybacks. In early trade, Telstra’ shares dropped more than 10% to $3.88, wiping out about $4.7 […]
TELSTRA IS GETTING SMASHED
Tech

Australia has the 10th fastest mobile broadband in the world

Australia has the 10th fastest mobile broadband in the world, rubbing shoulders with countries that have far smaller territory to cover such as Singapore, Luxembourg and South Korea. The latest State of LTE research by mobile signal software company OpenSignal shows Australia had an average of 33.8Mbps in the quarter […]
Australia has the 10th fastest mobile broadband in the world
Markets

Vocus shares jump 20% on a takeover bid

Vocus shares jumped after a $2.2 billion takeover bid by private equity group KKR. A short time ago, they were up 20% to $3.43. The offer is $3.50 cash per share. The telco’s board of directors has formed a committee to assess the offer, appointed Credit Suisse and Goldman Sachs […]
Vocus shares jump 20% on a takeover bid
Markets

Private equity group KKR has bid $2.2 billion for Vocus

Private equity group Kohlberg Kravis Roberts & Co (KKR) has launched a $2.2 billion takeover for telco Vocus. The offer is $3.50 cash per share. A short time ago, the share price was $2.86, up 1.7%. Under the deal, KKR would also take on Vocus’s debt up to $1.1 billion. […]
Private equity group KKR has bid $2.2 billion for Vocus
Markets

TPG Telecom profit beats expectations, its shares jump

Growth in broadband has pushed billionaire David Teoh’s TPG Telecom to a 11% rise in half-year net profit after tax to $224 million. The half-year result, which beat market expectations, was on an 8% rise in revenue to $1.24 billion. A short time ago, TPG shares were up 5.9% to […]
TPG Telecom profit beats expectations, its shares jump
Markets

Vocus profits have hit a record and its shares are soaring

Acquisitions have been good for telco Vocus Communications. The telecommunications player just posted a 94.9% rise in net profit to $47.2 million for the six months to December. Revenue was up more than 400% to $885.9 million. A short time ago, its shares were up 10% to $4.845. The company […]
Vocus profits have hit a record and its shares are soaring
Markets

Allphones has gone into administration

Mobile phone retail chain Allphones went into voluntary administration today. Allphones, which opened its first shopfront in South Australia in 1989, is the largest independent telecommunications retailer in Australia with 80 company-owned, licensed and franchised stores and 440 staff. As a first step, 18 company-owned Allphones branded stores will be […]
Allphones has gone into administration
Markets

Telstra has a new strategy following painful network outages

Telstra has a new strategy, including plans to cut $1 billion in costs, and has revealed how it will spend an extra $3 billion to future proof its network following embarrassing outages this year. CEO Andrew Penn says he has refined the telco’s strategy to reflect continued focus on improving […]
Telstra has a new strategy following painful network outages
Markets

Hybrid telco startup Unlockd is raising almost $40 million to expand overseas

Unlockd, the startup telco which rewards mobile phone customers for watching advertisements, is raising $US30 million ($A39 million) for international expansion. Matt Berriman, CEO and co-founder, revealed the capital raising plans while announcing a partnership deal with Digicel, Jamaica’s largest telecommunications provider. The hybrid telco with an advertising business launched […]
Hybrid telco startup Unlockd is raising almost $40 million to expand overseas
News

Science says you’re not alone if you don’t understand your phone contract

Consumers are confident they understand the contract they sign when buying a smartphone, but our research shows they don’t comprehend these documents very much at all. In fact the more information they are provided with the worse their understanding. We also found the more confident a participant was in their […]
Science says you’re not alone if you don’t understand your phone contract
Markets

Telstra is giving back $1.5 billion to shareholders

Telstra plans to give back at least $1.5 billion to shareholders from its windfall of $US1.6 billion ($A2.1 billion) from selling down its stake in the China car site Autohome. The deal will give Telstra, which sold a 47.7% stake to Ping An Insurance Group, an accounting gain of about […]
Telstra is giving back $1.5 billion to shareholders
Markets

Former AMP chief executive Craig Dunn is joining the board of Telstra

Craig Dunn, the former chief executive of AMP, is joining Telstra’s board of directors, adding considerable financial services and fintech expertise to Australia’s biggest telco. Dunn headed AMP from 2008 to 2013, steering the company through the GFC, setting up Asia joint ventures, leading a merger with AXA and initiating […]
Former AMP chief executive Craig Dunn is joining the board of Telstra
Markets

Amaysim’s shares are being annihilated

Shares in Amaysim are falling hard after the mobile sim card company reported disappointing half year results, its first since its IPO. A short time ago, the shares were down 27% to $1.78. Amaysim’s profit dropped 96% to $681,000, mainly due to listing costs and the purchase of prepaid mobile […]
Amaysim’s shares are being annihilated
Markets

Telstra profits are flat as expenses rise

Telstra is winning more mobile phone customers and boosting revenue but has posted a flat 0.4% rise in net profit to $2.093 billion for the half year to December. Total income was up 9.1% to $14.194 billion while Australia’s largest telco added another 235,000 domestic retail mobile services for a […]
Telstra profits are flat as expenses rise
Tech

The Landline Is Dying And These Numbers Prove It

The nature of the telecommunications industry is obviously changing, and it’s perhaps best illustrated with a look at these statistics that show the steep decline of the home landline. With a smartphone in your pocket that replaces a landline’s capabilities and then some, it’s no surprise to see that fewer […]
The Landline Is Dying And These Numbers Prove It
Tech

$20 Billion Alcatel-Lucent Just Ousted Another CEO

[credit provider=”AP”] Alcatel-Lucent CEO Verwaayen stepping down as group sinks to hefty 2012 lossPARIS (AP) — Alcatel-Lucent CEO Ben Verwaayen is leaving the loss-making French-U.S. telecommunications gear maker after a failed four-year bid to turn the business around.
$20 Billion Alcatel-Lucent Just Ousted Another CEO
Tech

Here’s How HP Computers Were Almost Sold To Iran, Again

[credit provider=”YouTube/60Minutes” url=”http://www.youtube.com/watch?v=PhRmC6QbL6c&feature=youtu.be”] (Reuters) – A major Iranian partner of Huawei Technologies offered to sell at least 1.3 million euros worth of embargoed Hewlett-Packard computer equipment to Iran’s largest mobile-phone operator in late 2010, documents show.China’s Huawei, the world’s second largest telecommunications equipment maker, says neither it nor its partner, […]
Here’s How HP Computers Were Almost Sold To Iran, Again