Telstra shares dive on downgrade Telstra Corp's shares plunged 10 per cent on Tuesday after the company substantially downgraded its full-year profit forecast, blaming a softer domestic economy and an intensely competitive telecommunications market. The Dragonair shuttle between Beijing and Hong Kong fills up quickly these days with a new kind of Chinese tourist. Mainlanders with suitcases stuffed full of cash are flying to Hong Kong on what Chinese travel agents are openly marketing as share-buying holidays. An information memorandum on the divestment of Southcorp's appliances division is imminent from its advisers on the deal, ABN Amro.
Tougher laws mean more prisons to house more prisoners.
Geoffrey Barker reports. Telstra's Ziggy Switkowski on Tuesday switched off the last beacon of light for the stockmarket, and the assumption that double-digit telecommunications growth would continue for ever is now in doubt. Bid to thrash out airline deal. IPOs Latest news Sign up for the free IPO email newsletter. Warfare at the vineyards.