THE NEWS WRAP: Packer attacks Gillard’s business image

Casino and media magnate James Packer has attacked prime minister Julia Gillard, claiming the corporate world perceives her to be anti-business.

In an interview with The Australian Financial Review, Packer said: “I think the problem for the prime minister at the moment is that while she keeps saying she’s pro-business, there is a real perception in the corporate world that she’s not. This perception is a real problem which she needs to address soon.” 

Telstra-NBN deal set to be unveiled

The federal government is today expected to unveil an $11 billion deal that will give the National Broadband Network access to Telstra’s fixed-line network.

The deal will involve the NBN renting Telstra’s underground network and taking over its fixed-line customers. The federal opposition has criticised the move, saying it will prove expensive and wipe out any competition to the NBN. 

Qantas CEO hits out at unions

Alan Joyce, the Qantas CEO, has issued a stark warning over the future of the airline, while escalating his battle with unions.

Joyce said losses incurred by Qantas’ international arm were “unstainable” and needed urgent attention. He deemed unions ”out of touch with reality” after 1600 engineers voted in favour of strike action. 

Overnight

The Dow Jones Industrial Average fell by 80.34 points to 12,109.67. The Australian dollar held steady at 106.08 US cents.