The Independent, 24/1/01

The Independent, 24/1/01

Front page:

* Broking firm Merrill Lynch subject of speculation that it is about to quit NZ;

* People's Bank may founder if Labour doesn't support capitalising it;

* Government questions merits of dairy mega-merger;

* Court battle looms over control of non-toxic weed-killing company, Waipuna International, involving its former chairman and former National Party president Geoff Thompson;

Elsewhere in the paper:

* NZIER quarterly survey of business opinion shows big surge in confidence;

* Enza's hopes of recovering anything from a disastrous joint venture with Chiquita in Chile - write-offs already at $17 million - look remote as Chiquita faces possible bankruptcy;

* Rocom Wireless says the NZSE's New Capital Market was more costly and cumbersome than expected. The NZSE says it is looking at how to improve it. Rocom spent $300-400K to raise $2 million;

* publishers of Netguide take newcomer Net Magazine to court alleging that Net Mag looks too much like theirs;

* Savoy Equities - the remnant of the failed Britomart development whose principal, Jihong Lu, was declared bankrupt late last year - has cut permanent staff from 30 to 2;

* high-fashion magazine Flash folds after three issues;

* E-loan down to three staff after merger with The Warehouse. Started with 15;

* Clear Communications determined that Zfree will eventually pay its way.

ends

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