Territory Stories

The Northern Territory news Sat 23 Apr 2011



The Northern Territory news Sat 23 Apr 2011

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NT news


The Northern Territory news; NewspaperNT




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

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Nationwide News Pty. Limited

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Copyright. Made available by the publisher under licence.

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Nationwide News Pty. Limited



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38 NT NEWS. Saturday, April 23, 2011. www.ntnews.com.au P U B : N T N E W S D A T E : 2 3 -A P R -2 0 1 1 P A G E : 3 8 C O L O R : C M Y K BUSINESS 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 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 ntnews.com.au Green light forwine takeover MELBOURNE: The competitionwatchdog says it wont opposeWoolworths proposed takeover of direct winemarketer The Cellarmasters Group. The Australian Competition and Consumer Commission (ACCC) said the proposed acquisitionwas unlikely to substantially lessen competition given the presence of several significant competitors in wine retailing, production and associated services. Cellarmasters is an online and direct wine sales business. HarveyNorman feels strain SYDNEY: Electronics, furniture and electrical products retailer Harvey Norman Holdings says total sales for the third quarter of the 2011 financial year rose 1.6 per cent, but like-for-like sales were down by 4.6 per cent. The retailer said global sales had been negatively affected by a deterioration in the value of the New Zealand dollar, the euro and the UK pound. iPadmakes iCatching sales CALIFORNIA: Apple has rubbed its marketing superiority in with quarterly results that had only one blemish it couldnt make the new iPads fast enough. We sold every iPad 2we couldmake, chief financial officer Peter Oppenheimer said. Apple sold 4.7million iPads of both kinds in its latest quarter, which endedMarch 26. Its net incomewas $US5.99 billion ($A5.7 billion). Sickies to sweep the nation By ANTHONY TEMPLETON Businesses are bracing for a landslide of sickies Mywife threwout my clothes so I have nothing towear BUSINESSES expect a spike of sickies next week because the chance to string together 11 days out of the office could prove irresistible for some slackers. Workers looking to extend their Easter long weekend only need to call in sick between Wednesday and Friday to secure nearly two weeks out of the office in a row. Staff are absent for an average of 10 days a year, wasting 4.2 per cent of working time. Australian businesses are struggling to tackle the problem, with the cost increasing to $375 for each day an employee is away and a hefty $3712 annually per staff member. The most common com plaints for short illnesses are gastroenteritis, flu, sore throat, fever and food poisoning. However, if you have already rung the boss a few times this year with fake health issues, you might have to get inventive to be believable. Queensland University of Technology School of Management head Lisa Bradley said employees were most likely to fake being sick when they felt they were treated badly at work. Direct Health Solutions, a company that specialises in cutting workplace absenteeism, recently released some of the more inventive excuses submitted by workers: The bus bell was so loud it gave me a headache. The curry late last night has kept me up all night. My wife threw out my clothes so I have nothing to wear. I lifted too many weights. I cant get out of bed. Aussie dollar surges ahead By RACHEL HEWITT the demand is clearly very powerful THE red-hot Aussie dollar is powering towards $US1.10 and is tipped to climb as high as $US1.12 in coming months. Propelled by further aggressive selling of the US currency amid fears for the US economy, the Aussie stormed to $US1.0775 yesterday afternoon. With the greenback on the nose and heightened global inflation concerns, investors also pushed the price of gold to a new high yesterday after the precious metal broke through the $US1500 mark on Wednesday. The traditional safehaven asset rose to $US1508.80 ($1406) an ounce, and, like the Aussie, its dream run is expected to continue. Its got little in the way of resistance, said ANZ head of commodities research Mark Pervan. AMP Capital Investors chief economist Shane Oliver said the Aussie dollar could reach his year-end forecast of $US1.10 in the next few weeks. Commonwealth Bank chief currency strategist Richard Grace said the Aussie certainly will go higher over the next few months, and could go as high as $US1.12, though risks included high oil prices challenging the global growth outlook and triggering a fall in commodity prices. Westpac senior currency strategist Sean Callow said it was difficult to predict exactly how far the dollar might climb. But he said: Youd be mad to be brushing off any suggested levels. When the Aussie has risen more than 2c in a day then the demand is clearly very powerful. COPPERHITSHIGH NEW YORK/LONDON: Copper rallied to its highest in more than a week on Thursday, as supply concerns, a tumbling US dollar, and signs economic growth has taken deeper root in the United States all contributed to its gains. Benchmark copper on the London Metal Exchange finished at $9700 a tonne versus $9577 at Wednesdays close. MARKETS FIRMUP LONDON: European stock markets closed mostly firmer ahead of the Easter break, consolidating sharp gains made the previous day as strong company results bolstered confidence further. Dealers said investors believed the company results showed the underlying global economy to be in good shape despite a bad news flow dominated by US and eurozone debt concerns and violent unrest across the Middle East. CALTEX LOSING CASH SYDNEY: As drivers fill up for Easter, Caltex has revealed the extent to which high Middle East oil prices have hurt the companys margins. Caltex reported the companys refiner margin (CRM) a complex measure of the difference between the price of crude and what its refined products cost in Singapore has contracted significantly and eroded earnings. In March 2011, the CRM was $US6.32 a barrel from sales of 928 million litres of various fuel products, compared to a margin of $US10.22 a barrel and sale of 908 million litres in March 2010. Gold hits new high LONDON: The price of gold has topped $1500 for the first time as a weaker US dollar, coupled with fears over inflation and debt, attracted investors to the safehaven precious metal. Gold reached $1505.65 an ounce on the London Bullion Market and later traded at $1503.60. The silver price meanwhile hit a fresh 31-year high of $44.79 an ounce. Gold remains comfortably underpinned with short-term inflation pressures and economic woes triggering some fresh safehaven inflows, said Andrey Kryuchenkov, commodities analyst at Russ ian financial group VTB Capital. The metal is seen as a safe store of value in troubled economic and political times. Metals consultancy GFMS last week forecast that the gold price would soar past $1600 this year, driven primarily by rising fears over high inflation. Easter shop boost MELBOURNE: MAJOR retailers are counting on an Easter trading boost to resurrect limp sales. Relaxed Easter Sunday trading restrictions and a super-long weekend combining Easter and Anzac Day public holidays are tipped to bolster sales of clothes, whitegoods, household items and hardware. Industry representatives say the break should be good for shopping tourism in both the city and regional areas. Australian Retailers As sociation boss Russell Zimmerman said a relatively late Easter break merging with cooler weather should raise the fortunes of fashion stores off-loading warmer clothes. However, Council of Small Business Organisations Australia CEO Peter Strong predicted some cafes and restaurants would stay closed over the break because of public holiday penalty rates.

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