DIVERSIFICATION IN INDUSTRY – AUSTRALIA

Shake-up as accountants beef up law

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Original article by Katherine Towers
The Australian – Page: 27 : 22-Aug-14

Major accounting firms PricewaterhouseCoopers (PwC), Ernst & Young (EY) and KPMG are increasingly diversifying into the legal services market, including in Australia. The local arm of the global PwC firm has appointed former King & Wood Mallesons managing partners Tony O’Malley and Tim Blue. The Australian tax dispute management practice leader at KPMG, Jeremy Geale, says its legal division will grow 100%-plus in the coming years, while EY Asia Pacific law leader Howard Adams says it will have recruited 200 new lawyers by mid-2015

CORPORATES
PRICEWATERHOUSECOOPERS, KPMG AUSTRALIA PTY LTD, ERNST AND YOUNG, KING AND WOOD MALLESONS, HERBERT SMITH FREEHILLS PTY LTD, McCULLOUGH ROBERTSON, DELOITTE LAWYERS PTY LTD, DELOITTE TOUCHE TOHMATSU LIMITED, AUSTRALIA. BOARD OF TAXATION, ENRON CORPORATION

Start-ups focus for Telstra offshoot

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Original article by David Ramli
The Australian Financial Review – Page: 23 : 19-Aug-14

Australian telco Telstra is pursuing a strategy under CEO David Thodey of diversifying into technology start-ups, to prepare itself for the loss of revenue from the traditional telephony business. It has set up the muru-D incubator in Sydney and lifted its stake in US-based online video software provider Ooyala from 23% to 98% for $US270m ($A289m). Both will now be housed in the newly-incorporated Telstra Software Group entity, where the board consists of global enterprise and services group executive Brendon Riley, strategic finance group MD Cynthia Whelan and muru-D co-founder Charlotte Yarkoni

CORPORATES
TELSTRA CORPORATION LIMITED – ASX TLS, TELSTRA SOFTWARE GROUP PTY LTD, MURU-D PTY LTD, OOYALA INCORPORATED, SINGTEL OPTUS PTY LTD, SINGAPORE TELECOMMUNICATIONS LIMITED – ASX SGT, SINGTEL INNOV8 PTE LTD, GARTNER GROUP INCORPORATED, WHATSAPP INCORPORATED, SKYPE TECHNOLOGIES SA, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION

Coles to play banks at own game

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Original article by Jared Lynch
The Australian Financial Review – Page: 19 : 15-Jul-14

Coles will expand its product offerings in the financial services sector, with the introduction of personal loans. The grocery retailer expects to receive regulatory approval by the end of 2014, but Coles Finance director Rob Scott has declined to comment on the possibility that Coles could also seek a banking licence. The new products will be offered in partnership with GE Capital

CORPORATES
COLES GROUP LIMITED, WESFARMERS LIMITED – ASX WES, GE CAPITAL AUSTRALIA, TESCO PLC, J SAINSBURY PLC, MARKS AND SPENCER PLC, MASTERCARD AUSTRALIA LIMITED, VISA INTERNATIONAL, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA

Smart clothesline on the way as Hills chases innovation

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Original article by Vanessa Desloires
The Australian Financial Review – Page: 21 : 24-Jun-14

Hills is continuing its strategy of growth through acquisitions in the health, security and audio sectors. It acquired Audio Products Group in late June 2014. CEO Ted Pretty said that the company was seeking one or two larger acquisitions as well. Hills is also developing innovative products, including a smart clothesline that releases a rain cover if bad weather is predicted

CORPORATES
HILLS LIMITED – ASX HIL, AUDIO PRODUCTS GROUP PTY LTD, AUSTRALIA. BUREAU OF METEOROLOGY