Briefs

Press, 13 July 1985, Page 24

Briefs

Pacific Dunlop The board of Dunlop Olympic, Ltd. of Australia, is proposing to rename the company Pacific Dunlop from January 1 next year, subject to shareholder approval at the company’s annual meeting on November 7. 15 per cent Unity Group, Ltd, has purchased a 15 per cent shareholding in Carborundum N.Z., Ltd, for $1,187,000. Brokers link Sydney-based stockbroker Rivkin, Ltd, plans to link with major broking houses in Queensland, Tasmania and Western Australia to form one of Australia’s largest stockbroking groups. The company has signed agreement in principle to acquire 50 per cent of the stockbroking businesses of Nevitt, Draper, Charles Elliott Corrie and Company of Queensland, P. S. Shadforth and Son of Tasmania, and Hartley Poynton and Company of Western Australia. Bank secrecy Switzerland, Austria and Luxemburg have rejected a call by the Organisation for Economic Co-operation and Development for member States to relax bank secrecy to combat tax avoidance and evasion. It was the first major public rift in the 25-year history of the Paris-based OECD, whose 24 members, the world’s leading industrialised nations, normally reach compromises on economic and monetary policy matters. Bank grants Trusteebank Waikato will pay out a record $250,000 in public grants after recording a nealthy rise in after-tax profit in a turbulent financial year to March 31. The 1985 grant allocation is 25 per cent more than the $200,000 paid out in 1984 and brings the total amount donated in 26 years to more than $1 million. The bank made an audited net profit after tax of $2,875 million in the year to the end of March, an increase of 47 per cent on the $1,957 million earned the year before.