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Forum Archive Index - May 2001

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[sharechat] Daily ShareChat News Summary

From: "Ben Dutton" <>
Date: Tue, 1 May 2001 05:48:37 +1200

Hi everyone, here's the summary of the ShareChat News from yesterday.

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Yesterday's ShareChat News:

Air NZ cashes up 767s

Air New Zealand has conditionally sold its entire owned fleet of ten
B767-200 aircraft and plans to use the money it gets to buy new planes for
its ailing Australian business.


RMG positive despite wider loss

Credit and receivables company RMG is sounding more confident after sorting
out its final year balance sheet despite reporting an increased loss for the
year ended December.


Christchurch Gondola business sold

Tourism operator New Zealand Experience is selling its Christchurch gondola


Engineering deal boosts Air NZ coffers

Air New Zealand will make an $18 million profit on an engineering joint
venture with US engine Pratt
& Whitney.


Costs continue to haunt Tranz Rail

Increased freight rates and passenger numbers have improved Tranz Rail's
third quarter revenue but have not been able to offset the damage from
rising costs.


Tranz Rail keeps refrigeration business

Tranz Rail has scrapped plans to sell its refrigerated road freight business
announced last year as part of a company restructuring.


Contact on CreditWatch after Edison move

Ratings agency Standard & Poor's has placed Contact Energy on negative
CreditWatch following the long-awaited news that the company's cornerstone
shareholder wants to increase its holding.


Improved quarter for Property for Industry

Industrial property investor Property for Industry has posted a strong jump
in third quarter profit.


Expenses rise at Kirkcaldie & Stains

Wellington retailer Kirkcaldie & Stains has reported a lower interim profit
but increased sales as it prepares to head to the NZSE's main board.


Business confidence drops in April

Business confidence has taken a battering according to the latest National
Bank business outlook survey.


The Investor Column: When Ignorance Is Heroic

There are two types of financial experts: Those who say they know what's
going to happen, and those who say they don't. I like the latter.


Best Regards

The ShareChat Team

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