THE NEWS WRAP: Data shows the Australian dollar is the most overvalued currency in the world

A thorough cost-benefit analysis will help silence critics of the National Broadband Network, iiNet has claimed in today’s Australian Financial Review. 

The ISP says that communications minister Stephen Conroy has made a “tactical error” by not showing the full economic benefits of the $43 billion scheme.

Small business groups support the roll out of the NBN, although there are no concrete figures on how many firms could start-up or flourish under the system.

Meanwhile, the Coalition has indicated that it may change its hitherto cast-iron opposition to the NBN.

Google ad move paying off

Google has said that its foray beyond the world of search has been a success, with advertisers snapping up ads across its affiliated sites. Media buyers say that most of Google’s ads appear on smaller websites.

Virgin Blue hits back at Qantas

Everything Sir Richard Branson touches usually turns to gold, but his Virgin Blue airline is struggling to secure an alliance with Etihad. Virgin Blue has hit back at Qantas’ objection to the link-up, saying that the concerns raised are “self-serving”.

Australian dollar overvalued, say experts

The recent surge in the Australian dollar has led it to become the most overvalued currency in the world, according to Bloomberg data. The dollar has increased by 11.4% since June, with its record high of US 98.5 cents set to be challenged next month.

Harvey parks his cash

Leading Australian entrepreneur Gerry Harvey has paid an astonishing $61 million for 900 parking spaces. The Penrith site has been at the centre of a dispute between Harvey and another company that wants to extend over the car park. The Harvey Norman founder has admitted that it was a “very expensive way” to solve the problem.