| EBay posts better than expected profits
EBay Inc posted better than expected profits in the first quarter as several of its newer businesses compensated for disappointing results in its mainstay auction service. The faster-growing units include shopping.com, a price comparison site; some classified listing sites; a service to let online merchants accept credit cards; and Skype, the online voice chat service. "We are on track with our well-crafted portfolio," Meg Whitman, eBay's chief executive, said in an interview after the earnings report was published by the firm on Wednesday. The results sent eBay's stock up about 3 percent in after-hours trading. Overall, the company earned US$377 million in the first quarter, up 52 percent from a year earlier. Excluding charges related to stock-based compensation and some other items, the company earned US$0.33 a share, above the US$0.29 average that analysts had predicted.
JRI ups bid for Agricore United to $1.8 billion
James Richardson International has stepped into the lead in the bidding war for Agricore United. JRI announced a $1.8-billion takeover offer yesterday to top Saskatchewan Wheat Pool's latest proposal. Agricore said the deal offers a more certain return for shareholders of $19.25 cash for each limited voting share. Producers say the proposal will offer mixed results. "The bad news is farmers are losing competition when it comes to selling our grain," said Chuck Fossay, who produces grain near Starbuck. It's also unclear how a previous goal to save $62 million a year would affect the combined staff of 3,800. .
'Idiot' bidder buys speeding ticket at auction
WELLINGTON.- In a strange example of internet madness, a New Zealander has sold a $NZ130 ($A116) speeding ticket on a local online auction website. Nearly 30,000 people viewed Bob Grieve's ticket on the Trade Me site before Allan Hearn, an insurance assessor from Pukekohe, - by chance the V8 motor racing capital of New Zealand - bought it for $NZ51 ($A45.60). Hearn said he had never had a speeding ticket - a gap in his life that is now filled, The Press of Christchurch reported. "For 50 bucks, who cares?" he said. "I told my missus about it, and she called me an idiot." Grieve, a TV cameraman from Christchurch, posted his photograph holding the ticket on the site and said he had fielded a flurry of amorous comments as well as bids.
Energy Ministry to open bidding for power buy in Apr
Energy ministry will open bidding for purchasing electricity from private power producers in April as scheduled, Minister Piyasvasti Amranand said Wednesday.
Invitations to IPPs (independent power producers) will be issued late this month. The selection process will be by the next government, Piyasvasti said.
Bids must be submitted by October, with the selection of winners set for April 2008 and the finalisation of a power purchase agreement in October that year, Piyasvasti said.
According to Piyasvasti, the government plans to buy 3,000-4,000 megawatts from private producers for adding new power generation capacity during 2011-2013. This will boost the country's current total installed capacity of 27,789 MW.
- The Nation
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