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Newspaper
Canberra Times
Location
Canberra, Australian Capital Territory, Australia
Date
Jun 28, 1976
Page
17
Canberra Abattoir plans additions costing about 500000 to meet export standards and seek an export licence as markets improve. Projects include a 150000 amenities block for staff, a 300000 broining room, and a 50000 freezer store, with hiring rising 10 to 15 and 34 casuals to permanent roles.
New Zealand's 38th Parliament begins in June after a prolonged delay, drawing fire from Opposition and constitutional experts. Prime Minister Muldoon faces questions over a prior superannuation announcement and legal challenges, as economic strains and budget plans loom with ongoing deficit and inflation.
The MTIA reports that recovery in the metal trades hinges on broad policy support for manufacturing. It warns that high borrowing costs, weak demand, and rising imports keep firms from investing, risking ongoing unemployment and stalled growth. It urges balanced capital spending, robust government procurement, a stabilizing wages policy, and responsible use of resources to revive production.
A Darwin reconstruction overview notes Cyclone Tracy's destruction on December 25 1974 and a rapid population rebound. It cites projected city growth to 43 000 by 1980 and a self sustaining peak around 50 000, plus a $60 million initial grant and two year design/testing for cyclone proof housing. Four new homes daily and $31 million weekly output in Anula and Wulagi underscore urgent rebuilding progress.
Melbourne court rules Television Corporation Ltd liable for improper discharge of deputy news director John Pemberton. The Australian Industrial Court, in a majority decision, fines the network 250 dollars and orders payment of 2,428.80 dollars in lieu of notice to Pemberton for dismissal without notice from TCN-9 Sydney and GTV-9 Melbourne.
End-of-financial-year trading shows weaker week close but expectations firming. Investors anticipate a return to buyers and a push toward the two-year peak of 475.51 for the all-ordinaries index. Banking housing lending in ACT declines due to fewer trading days and holidays. Norwich Park project approvals boost select mining stocks while policy discord persists. LNC Industries extends offer for Bennett and Wond shares it does not own.
Australian banks slowed housing loan activity with NSW approvals dropping from 97 million in March to 68 million in April. The average daily lending rate for seven months to end of April exceeded 3.7 million. Major institutional sources backed 60 percent of April approvals, with savings banks approving 43 million and trading banks the remainder.
NSW Corporate Affairs Commission report shows 1349 companies liquidated in 1975, a new high, while total registered local companies rose to 129,143 and foreign registrants fell to 4,452. Public companies edged from 1,916 to 1,894 amid fluctuating counts.
Thomas Nationwide Transport Ltd pays 533000 for 20 percent of San Francisco based Trans Ocean Leasing Corp. TNT gains rights of first refusal on further equity up to 50 percent and could acquire up to full TOL equity. TOL, formed 1973, budgets profit above 486000 in 1976 with brighter prospects. owns 4900 containers. assets 7.39 million. shareholders funds 1.57 million.
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