David Fickling, Columnist

Income Can Be Taxing

Australians love a household-name stock that provides a steady dividend stream.

August 17, 2017 at 4:20 AM UTC

David Fickling is a Bloomberg Opinion columnist covering climate change and energy. Previously, he worked for Bloomberg News, the Wall Street Journal and the Financial Times.

1502942942_3301423 — Photographer: Fred Morley/Getty Images

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Hell hath no fury like an Australian retiree scorned.

Shares in the country's giant phone company Telstra Corp. fell as much as 12 percent after it announced annual results Thursday, wiping off some A$6.2 billion ($4.9 billion) of value.