Telstra can close the chapter on the damaging
board split which saw former chairman Bob Mansfield and chief executive
Ziggy Switkowski forced out last year, after long-time directors Tony
Clark and John Ralph said they would quit the company next week, reports The Australian. And the Sol Trujillo charm offensive hits outback Australia today as
Telstra’s new chief executive seeks to mend fences with Telstra’s
rural constituency ahead of the telecom’s full privatisation, reports The SMH.

The Smage reports that NAB’S so-called rogue traders operated in a culture of fear and
intimidation, in which they were taught to believe that profit was king
and those who left the desk were traitors, a court has heard.

The Fin Review reports that a senior partner at Deacons law firm,
Ross Millen, was given an early warning that Steve Vizard was engaged
in insider trading, according to claims raised in court, but there is
no suggestion he was involved in the trades.

And News Ltd has launched
a $126 million cash offer for the rest of leading online property
business realestate.com.au as it continues its push for internet
businesses, reports The Australian.

On Wall Street, US stocks were mixed overnight as investors juggled
positive manufacturing data with a fresh spike in oil prices. The Dow
Jones fell 17.76 points to 10,623 – MarketWatch has a full report here.

Peter Fray

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