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Briefs

Stowe steps down

The son of the embattled Griffin Group principal Ric Stowe has quit the board of the family holding company just days after the high-profile collapse of its most prominent asset. Jason Stowe, executive director of Griffin Group, has stepped down as a director of the group's parent company, Devereaux Holdings.

INTERNET

Telstra cuts prices

Telstra has reacted to the consumer stampede towards mobile broadband by cutting the price of its wireless internet packages. In a week where the Australian Communications and Media Authority revealed a 162 per cent rise in the number of wireless subscribers over the past year, Telstra said it would cut the price of its packages by up to a third.

COURTS

CSR delay

A court hearing over CSR's plans to demerge the company's sugar, energy and building materials businesses has been delayed by talks with the corporate regulator over CSR's asbestos liability. The Federal Court hearing was postponed from today until next week. CSR, which this week received a $1.5 billion bid for its sugar and energy division from China's Bright Food, said its timetable for the demerger was unaffected.

TARIFFS

Customs blow

Bed linen importers including Target, Kmart and Pacific Brands may be able to claw back up to $70 million in tariffs from the Customs Service after a landmark ruling in the Administrative Appeals Tribunal. The AAT decision is the latest blow to Customs over its processes for handling complaints from local manufacturers about imports, after earlier this week having the Attorney-General reverse a year-old decision to place hefty duties on certain toilet paper imports.