Territory Stories

The Northern Territory news Thu 21 Apr 2011

Details:

Title

The Northern Territory news Thu 21 Apr 2011

Other title

NT news

Collection

The Northern Territory news; NewspaperNT

Date

2011-04-21

Description

This publication contains may contain links to external sites. These external sites may no longer be active.

Language

English

Subject

Community newspapers -- Northern Territory -- Darwin; Australian newspapers -- Northern Territory -- Darwin

Publisher name

Nationwide News Pty. Limited

Place of publication

Darwin

Use

Copyright. Made available by the publisher under licence.

Copyright owner

Nationwide News Pty. Limited

License

https://www.legislation.gov.au/Series/C1968A00063

Parent handle

https://hdl.handle.net/10070/232267

Citation address

https://hdl.handle.net/10070/664628

Page content

www.ntnews.com.au Thursday, April 21, 2011. NT NEWS. 19 P U B : NTNE-WS-DA-TE:21-AGE:19 CO-LO-R: C-M Y-KON LY in y ou r N EW S un da y T er ri to ri an There are now 5000 reasons to check out the fresh, new Sunday Territorian F u ll te rm s a n d c o n d it io n s @ w w w .n tn e w s. co m .a u /c o m p e ti ti o n s W IN $ 5 0 0 0 mg400604Permit number NTL11/15 ntnews.com.au l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l BUSINESS Stalled project dismay PERTH:Woodside Petroleum says East Timors government has ignored requests for talks on the stalled Sunrise development and that competitors had shown interest in buying the $7 billion project. Woodside chief executive Don Voelte used his last annual general meetingwith the energy giant to express dismay at the stalematewith the East Timor government, which has effectively blocked the planned liquefied natural gas project in the Timor Sea. Gunns in shareholders sights MELBOURNE: Law firmMaurice Blackburn has begun a class action against woodchipper Gunns on behalf of more than 300 shareholders. Maurice Blackburn yesterday said that the shareholders had lost millions of dollars after Gunns disastrous financial performance in the 2010 financial year. Shareholders claim that themarket should have been warned that Gunns financial results for the first half of 2010were going to be dismal, Maurice Blackburn said. Virgin Blue in talks with Hawaii over link SYDNEY: Virgin Blue is poised to announce a fourth international partnership with Hawaiian Airlines. And the airline has set its sights on Asian expansion. Were in the process of having advanced discussions with Hawaiian Airlines and you will see us put out those new flights to Hawaii from Australia shortly, Virgin chief executive John Borghetti revealed at a Sydney business luncheon. Mr Borghetti said Virgin Blues overseas partnerships were a critical plank in its strategy to become the nations airline of choice. Virgin Blue already has announced international partnerships with Etihad, Air New Zea land and Delta of the US, which is awaiting approval by regulators there. Mr Borghetti also said a tilt at Asia was on the cards. Were not going to leave it alone, we are going to play in that space, he said yesterday. You are going to have to watch this space because were not ready to announce that. Mr Borghetti said he was confident Virgin Blue would win 20 per cent of the domestic business travel market within three years and break Qantas near monopoly of the sector. Virgin has it in its DNA to break monopolies, or near monopolies, and that is exactly what we are going to do, Mr Borghetti said. Coles discount strategy pays off The controversial decision to discount milk has worked a treat for Coles CEO Ian McLeod MELBOURNE: The controversial discounting of milk has played a significant part in lifting quarterly food and liquor sales at Coles supermarkets by 7.1 per cent, says Coles parent company Wesfarmers. The increase was almost double that of rival supermarket Woolworths, which posted a 3.9 per cent gain over the same period in food and liquor sales. Wesfarmers said discounts on 5000 items in its Down, Down price campaign, along with fresher produce and cleaner, refurbished stores were attracting more customers to Coles and had pushed sales to $5.85 billion for the March quarter. When asked if Coles could have achieved an increase of 7.1 per cent on the previous corresponding quarter without dropping prices on key items such as milk and bread, Wesfarmers managing director Richard Goyder said: I think its been an important part of our offer. Coles cut the price of its home brand milk to $1 a litre in January. Shares in Wesfarmers gained 47c, or 1.43 per cent, to close at $33.37, their highest price in six weeks. Mr Goyder declined to say that Coles was now performing ahead of expectations in its fiveyear turnaround strategy. The day you do that is the day that hubris wins and you start going backwards. Well never claim victory, he said. Weve got a long way go in the turnaround. Mr Goyder said Coles was on track with its internal expectations, but after the five years there would still be an enormous amount to be done. City Index chief market analyst Peter Esho said that the increase in Coles comparable food and liquor store sales was impressive. BHP Billiton weathers storm MELBOURNE: Flooding and cyclones have hit production at several of BHP Billitons divisions but in iron ore the worlds biggest resources company held up better than its rivals. Iron ore production declined one per cent to 33.2 million tonnes from the prior quarter due to seasonal weather. However, last week, Rio Tinto Ltd recorded a worse than expected 16 per cent drop in iron ore production and Fortescue Metals Groups production slumped 15 per cent in the March quarter. BHP Billiton achieved record production figures in iron ore, crude oil and condensate and manganese ore for the nine months to March. Terms of trade surge Wayne Swan CANBERRA: The rampant Australian dollar is keeping a lid on the price of imported goods, while rising commodity prices are delivering a massive boost to national income. While Treasurer Wayne Swan was arguing mining boom mark 2 would not generate as much revenue as the first one in a speech in Brisbane, new data showed the nations terms of trade are ballooning. The Australian Bureau of Statistics trade price indexes released yesterday suggested growth in the terms of trade was impressive at just shy of 21 per cent in the year to March.


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