Directors of Fidelity Life Assurance Company Ltd are advising shareholders should take no action at this level subsequent to insurer Tower Ltd stated that it shall make an unwanted cash and scrip take-over proposal for every Fidelity.
The manufacturing sector has contracted for the first time in this year as the falling Australian dollar weighs on the exporters. The performance of Manufacturing Index of Australian Industry Group dropped down by 4.4 point and slipped to 47.3 points. This suggests that the index has fallen below the mark of 50 points for the first time in 2010 which is the critical level separating expansion from contraction.
The Billabong International Ltd is expected to acquire a portfolio of 38 retail stores from its rival General Pants Group and associated parties and the stores include Surf Dive ‘n’ Ski and Jetty Surf banners. The price detail of this takeover is yet to be unveiled and the purchase includes two licensed stores of Billabong. If the purchase completes successfully the global retail portfolio of the company will grow up to around 558 stores.
After a long depressing period for Telstra and its investors there is a sign of relief finally as the Telco has started to get positive momentum and the sales volumes of the company indicate that the first quarter of this year has been the best year for the company in terms of sales in last few years.
The housing prices in Singapore reached to a new record high in the third quarter of this year as the economy of Singapore rose up sharply after the recession of last year.
The private residential property prices rose up by 3.1% in the three months from July to September but that was down from 5.3% growth in the previous quarter.
The retail prices are expected to settle in New Zealand bringing some sort of joy for the consumers. A can of baked beans which previously cost at 1.99 dollars now pushed up to 2.03 dollars surprisingly at the Countdown or Woolworths.
Good News USA
- Vodafone NZ’s new ‘Red Home’ packages will offer UFB and 150 TV channels
- Vodafone NZ’s full-year profit plunged by more than two-thirds to $56 million
- Vodafone adding 34 European countries to ‘AU$5 per day’ international roaming option
- Telstra launches its new ‘Every Day Connect Data Share Packages’
- Voyager signs “multimillion-dollar deal” with submarine cable group Hawaiki