Business bouquets and brickbats
Bouquet - reaching for stars
Step aside Cape Canaveral, New Zealand is about to join the space age with Auckland's Rocket Lab expected to start launching small satellites into orbit next year at fraction of the existing $155 million cost.
Rocket Lab's 10-tonne, 18 metre long Electron rocket will do the job for just $6m, blasting off from a yet to be disclosed spaceport in New Zealand.
The cheap price tag is turning heads with a former Nasa director Alan Weston saying Rocket Lab's technology using much smaller rockets which can be launched faster will revolutionise the launch industry.
With more than 30 launches booked by customers, Rocket Lab's operations should also provide a ready-made tourist attraction
Brickbat - share shock
In a sharemarket shocker, newly listed business software company Gentrack this morning warned its shareholders that the company's profit for the year to September 30 will be slashed by about a third to between $2.5 million and $2.8m, compared to that forecast in its May 26 prospectus.
Gentrack, which listed less than six weeks ago, blames the profit downgrade on a dispute with a customer and a delay in signing a big contract with another.
Gentrack's shareprice plunged 19 per cent on the news, to $2.10c and investors will rightly demand to know if the dispute was already brewing before the company floated.