Friday 25th July 2003 |
Text too small? |
The government chose Telecom as the preferred supplier of broadband services for the Wellington, Kapiti and Horowhenua regions under "Project Probe." In addition to its existing Jetstream DSL service Telecom will use state-owned BCL's towers to deliver wireless broadband.
Southland's Blue Sky Meats reported a 2% higher $6.7 million March-year profit on lower revenues and expenses. The company said although a takeover bid by Lowe Corporation had failed the board would still have to consider shareholding issues.
Tranz Rail and state-owned generator Genesis Power are in talks about moving up to one million tonnes more imported coal from Port of Tauranga to the Huntly power station. They expect to sign an agreement within two weeks.
The hard-pressed managed funds industry enjoyed a bounce in June-quarter performance. Actively managed New Zealand equity funds returned an average 10% for the quarter and 8% for the year, underperforming the NZSX40 gross index by only 0.1%, according to FundSource.
Ilion Technology Corporation, 85% owned by New Zealanders and trading as Pacific Lithium, signed a distribution and marketing agreement with 3M for a new generation of lithium-ion batteries.
Carter Holt Harvey is spending $24 million expanding capacity at its Mt Gambier particleboard plant in South Australia. It is also considering an upgrade of its Whakatane cartonboard mill.
Kiwibank, the budget banking subsidiary of state-owned New Zealand Post, is getting a $40 million capital injection from its parent and announced it was considering going into business banking. It has 165,000 customers and lost $17.5 million in the March year.
Transport company Freightways, owned by investment bank ABN-Amro, is redeeming its 60 million preference shares for $1 each in a financial "tidying up."
The Securities Commission said it would take no action over trading in Sky City shares in November and December last year. Questions of insider trading arose after a UBS Warburg analyst showed management accounts to a fund manager.
No comments yet
Second St John withdrawal of labour takes effect tomorrow with further strikes likely
Sanford Appoints Independent Director
CRP ADVISES CLOSURE OF SHARE OFFER TO EXISTING INVESTOR
Devon Funds Morning Note - 14 August 2024
OCR 5.25% - Monetary restraint tempered as inflation converges on target
Consumers still need due diligence as new deposit takers emerge.
Woolworths strike: staff asked to dress up in Disney costumes for a week on their own dollar
Turners Invests in Quashed Online Insurance Platform
PGW Reports on Challenging Year
Arvida Announces Executive Team Changes