Edmund Tadros - Journalist

Oct 14 2009 ∞

Commonwealth Bank fined $100,000 over botched capital raising disclosure

COMMONWEALTH Bank has been fined the maximum $100,000 by the corporate watchdog for failing to disclose the full extent of its expected losses as it undertook a botched $2bn capital raising last December.

The expected losses centred around its dealings with the failed companies Lehman Brothers, Allco Finance Group and ABC Learning Centres.

During the capital raising the bank did not disclose more than four hours that there had there had been a “significant” increase in the amount of money it would put aside to cover likely loan defaults, the Australian Securities & Investment Commission said.

Read the details of how the CBA capital raising went down at news.com.au.

May 13 2009 ∞

Federal Budget 2009 - what’s in it for you

by Chelsea Mes and Edmund Tadros

THE Government says it’s one of the most difficult ever peacetime Budgets but there were winners among the losers. Homebuyers, pensioners, students and parents-to-be were among the winners. While high income earners and those planning to retire in coming years were the worst hit. In addition, we will all be working much longer, with the Government extending the retirement age to 67 from 2023.

Read the rest of the Budget 2009 overview at news.com.au.

This piece generated more than 900 comments from readers angry, happy and indifferent about Budget 2009.

Apr 04 2009 ∞

The ACCC has found Coca-Cola misled in a ‘myth busting’ ad about the soft drink

THE ACCC has found Coca-Cola was misleading in a “myth busting” ad about the soft drink.

Coca-Cola will have to publish corrective advertising after the competition watchdog found the company made “totally unacceptable” claims that its drink did not rot teeth or lead to weight gain.

The full-page ad featured actress Kerry Armstrong extolling the virtues of Coca-Cola and caused an outcry from parents and health groups when it was published in newspapers late last year.

Read more about the Coca-Cola ad at news.com.au.