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Tag: cuts
Australia govt cuts short funding of NBN
2014-05-13 13:03:00| Telecompaper Headlines
(Telecompaper) The government of Australia announced in its latest state budget plans to reduce financing for the communications sector, including the country's National Broadband Network. The budget provides AUD 20.9 billion in equity funding to the NBN Co over the period 201415 to 201718. This amount is in addition to AUD 5.2 billion in equity provided from 2008 to 2013 and AUD 3.4 billion already planned for the current fiscal year. From 2018, the NBN will need to be self-financing or find additional investment from the private sector. The NBN's Strategic Review released in December 2013 found that the NBN would cost nearly twice what the current government has committed in funding and not be completed until 2024. The government said the previous administration under the Labor party "failed to meet its promises in relation to the NBN" and as a result the state will provide less funding and end its participation in the project sooner. Goign forward, the NBN will be expected to use a greater mix of technologies and rely more on existing infrastructure in order to lower the total cost and speed up delivery. According to the government, the new approach will save AUD 31.6 billion in funding costs, get the NBN finished four years sooner and enable nine out of ten Australians in the fixed-line footprint to get access to download speeds of 50 Mbps or more by 2019.
Tags: short
australia
funding
cuts
Heinz first-quarter sales dip, but expense cuts boost profits
2014-05-10 11:00:26| Food - Topix.net
Sales dipped at the H.J. Heinz Co. during the first quarter, with the declines attributed to a range of issues from restructuring costs at the Pittsburgh food company to divestitures, currency translation rates and slower sales in categories like U.K. soup and U.S. frozen meals and snacks.
Tags: sales
expense
cuts
boost
US: Nike sustainability drive cuts factories and emissions
2014-05-08 14:49:00| Daily apparel & textile news and comment - from just-style.com
Sporting goods business Nike has cut carbon emissions and revamped its sourcing base as part of a company-wide sustainability drive.
Tags: drive
cuts
nike
emissions
Barclays to announce big job cuts
2014-05-07 17:30:18| BBC News | Business | UK Edition
Barclays is expected to announce as many as 15,000 job cuts in its strategy announcement due on Thursday, according to BBC business editor Kamal Ahmed.
OECD cuts global growth forecast
2014-05-06 12:00:56| BBC News | Business | UK Edition
Global growth will be driven by advanced economies as emerging markets slow down, the Organisation for Economic Co-operation and Development predicts.
Tags: global
growth
cuts
forecast
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