Telecom has revised its forecast earnings in coming years,
compounding months of difficulties with both regulation and
operation, and also announced a targeted reduction of 200
management jobs this year.
Global currencies yesterday jumped to their highest levels
against the United States dollar in several months after Euro
zone finance ministers approved a giant 30 billion ($NZ57
billion) emergency aid package for debt-plagued Greece.
The South Island economy
has received a major boost with the inclusion of troubled
finance company South Canterbury Finance in the Government's
extended retail deposit guarantee scheme from October 12.