News Corporation chairman Rupert Murdoch has filed divorce papers in the New York Supreme Court, ending his marriage of 14 years to his third wife, Wendi Deng. Deng is best known for preventing comedian Jonathan May-Bowles from throwing a pie at Murdoch at a hearing into the News Corp phone tapping scandal. News of the divorce comes as Murdoch prepares to separate News Corporation into an entertainment company called 21st Century Fox, which will hold the company’s film and television assets, and a “new News Corp” which will own its publishing interests. AustralianSuper in the market for a merger AustralianSuper chief executive Ian Silk has revealed the $62 billion super fund is looking at mergers and acquisitions, with the $1.6 trillion retirement savings sector set to consolidate over the coming years. “It's pretty clear that the regulators and public policy is pushing in the direction of a smaller number of large funds rather than a large number of smaller funds,” Silk says. “If we are true to our label and true to our beliefs that we exist only for the benefit of members, then we should continue to grow so long as that growth adds value for members.” Slight improvement in unemployment rate, due to lower participation The unemployment rate fell slightly, from 5.6% in April to 5.5% in May, reducing the prospects for further Reserve Bank rate cuts. According to the Australian Bureau of Statistics, the drop was led by 0.1% drop in the participation rate, with the number of full-time jobs down by 5300, offset by the creation of 6400 part-time jobs. The shift to part-time work was reflected in the number of hours worked, which fell 0.7% to 1.63 billion hours for May. Overnight The Dow Jones Industrial Average is up 1.21% to 15,176.08. The Aussie dollar is up to US96.47 cents.
US President Barack Obama might be the world’s most powerful person, according to Forbes, but there’s a handful of entrepreneurs on this year’s list for start-ups to draw inspiration from.
Federal Treasurer Wayne Swan has warned that further savings are needed if the government is to achieve its projected $1.5 billion surplus, amid challenges such as changing consumer behaviour and the high Australian dollar.
News Corporation has posted a massive $1.46 billion loss in the fourth quarter, writing down the value of its global publishing empire, including its Australian newspapers.
Having a big name involved in your start-up is likely to draw investor and media attention to your business, but it’s unlikely to sustain it in the long term.
Australia’s mining boom will end in just two years, with the Federal Government set to struggle to get the budget back to surplus this year, a new report has predicted.
News Corporation chairman Rupert Murdoch has indicated he is preparing to “hit back” at what he describes as the “lies” directed towards his business.
Ex-Microsoft employees Peter Ostick and Josh Iselin teamed up last year to launch The Video Network, an internet TV sales platform.
Just two weeks ago, Airbnb appeared to be on an unstoppable rise to the top. The business had expanded internationally, including Australia, and had raised $112 million in funding.
Rupert Murdoch could’ve eased into a well-heeled retirement in the past decade, quietly slipping away to one of his many properties and handing over the reins to son James, who, until the past two weeks, appeared to be his heir apparent.
Where do good ideas come from? Many entrepreneurs vaguely cite flashes of inspiration for their businesses, but it is possible to identify a process to idea generation.
This article first appeared on July 20, 2011. The startling fact to come out of the News Corporation hacking scandal from a management point of view is the lack of information that was apparently reaching to top levels of the company.
Rupert Murdoch has pulled the plug on the attempted takeover of UK broadcaster BSkyB in the wake of the phone hacking scandal that has engulfed his media empire.
News Corporation has finally sold MySpace, its once-dominant social networking site, for $35 million – a fraction of the price it paid for it six years ago.
The ‘big four’ banks have come under sustained media and political criticism after Westpac announced a $6.3 billion annual profit. The record surplus takes the four major banks’ combined profits to $21.7 billion.
Throwing in your job to start your own business always raises a few questions around what you can and can’t take with you from your current role.