Economy

Seek increases stake in Chinese website: Midday roundup

Patrick Stafford /

Online job ads group Seek has increased its stake in the Chinese employment website Zhaopin, as the company continues to increase its global influence.

Seek will buy Zhaopin shares from Macquarie and other shareholders for $99.52 million, which will take its ownership level from 55.5% to 72.3%, it said in a statement.

“Zhaopin is a leading player in many of China’s geographic regions and across several key online metrics,” Seek International managing director Jason Lenga said in a statement.

“As China’s urbanisation and internet penetration increases, we expect it will be the world’s largest online employment marketplace.”

NBN beats 2012 construction target

The National Broadband Network exceeded construction expectations for 2012, the organisation said in a statement today.

NBN Co. said the group had commenced or completed construction at a total of 784,592 homes at the end of the year, beating its target of 758,000.

NBN Co chief Mike Quigley said the outcome was a pleasing end to the year. The organisation is now heading towards a target of reaching 6,000 premises a day by 2015.

Transurban revenue grows in first half

Toll road operator Transurban Group increased its revenue in the first half of the year, rising 3.1% to $397.7 million compared to the previous corresponding period.

“Transurban’s Australian assets have performed well in the December quarter,” chief executive Scott Charlton said in a statement.

“CityLink, which makes up 50% of the portfolio, recorded 5.8% revenue growth – an excellent result in a patchy local economy.”

Shares flat despites more positive US lead

The Australian sharemarket has opened lower this morning, following a more positive lead from the United States where stocks hit a five-year high overnight.

The benchmark S&P/ASX200 index was down 8.5 points or 0.2% to 4,714.5 at 12.00 AEST, while in the United States the Dow Jones Industrial Average rose 80 points or 0.6% to 13,471.2.

 

Advertisement
Patrick Stafford

Patrick Stafford is a freelance journalist and a former deputy editor of SmartCompany.

We Recommend

FROM AROUND THE WEB