Seven West CEO Tim Worner in surprise resignation, career tainted by Amber Harrison affair

Seven West Media chief executive Tim Worner has unexpectedly resigned with chairman Kerry Stokes declaring "now is the time for change". 

Mr Worner, whose leadership at Seven was tainted by his affair with former executive assistant Amber Harrison, will be replaced by James Warburton a one time Seven executive who defected to be Network Ten managing director.

Read the story here

Listen to my analysis on The World Today

Telstra profit dives, cuts dividend, $600 m NBN impact. I speak with Telstra chief executive Andy Penn

Telstra has reported a 40 per cent collapse in its full-year profit to $2.15 billion. 

But the result was roughly in line with market expectations given the ongoing $600 million hit to earnings caused by the NBN rollout. 

Telstra shares fell 1.4 percent with falls amplified by the broader sharemarket plunge. 

Telstra chief executive Andy Penn speaks with ABC's Peter Ryan.

NBN will be complete by mid-2020 and within $51b budget, says CEO Stephen Rue

The $51 billion National Broadband Network will be completed on time and within budget by mid-2020, according to the project's chief executive Stephen Rue. 

But Mr Rue is defying critics of the NBN with strong financial results for the year to June 30, which show the network is now 85 per cent complete compared to 75 per cent a year ago. 

Stephen Rue speaks with ABC's Peter Ryan.

READ the story here

Hong Kong unrest risking "flight of capital" as Hang Seng plunges

The fast-moving events in Hong Kong have the potential to derail the region's lucrative economy and investors worried by speculation that China is poised to cross the border and intervene. 

ABC's Peter Ryan says Hong Kong's main share index has plunged eight percent since June amid rising concerns that money is leaving the region in "a flight of capital".

ASIC defeated in landmark responsible lending case against Westpac. ASIC commissioner Sean Hughes says regulator "takes it on the chin".

The Federal Court has dismissed ASIC's responsible lending case against Westpac and ordered the regulator to pay the bank's costs. 

ASIC had alleged that Westpac breached responsible lending laws on up to 262,000 home loan approvals made using an automated process that relied on the Household Expenditure Measure benchmark, rather than using each applicant's individually assessed living cost. 

ASIC commissioner Sean Hughes tells ABC's Peter Ryan the regulator takes the defeat on the chin but will continue to fearlessly pursue breaches of corporate law.

Source: Justice Nye Perram - ASIC vs Westpac ruling 13 August 19

"No retail recesssion yet" - JB Hi Fi boss Richard Murray upbeat but cautious

JB Hi Fi remains upbeat in the face of a "retail recession" with chief executive Richard Murray cautiously optimistic. 

The electronics and music retailer has posted a 7 percent growth in profit to $250 million on the back of $7.1 billion in sales. 

Mr Murray told ABC's Peter Ryan that consumers are spending despite caution in the leadup to the election.

Households saving not spending as financial comfort gauge shows stress

Sluggish wages growth and worries about a weakening jobs market are dragging down financial comfort levels in households, according to a report from ME Bank out today. 

Despite 28 years of unbroken economic growth, Australians are nervous about their personal wealth with the housing correction taking a toll on confidence. 

ME Bank economist Jeff Oughton speaks with ABC's Peter Ryan.