The Securities Commission's announcement yesterday that it had laid criminal charges against the directors of Lombard Finance & Investments was no surprise.

Telecom is seeking relief from the Government on its regulatory obligations in the face of pressure on earnings.

Telecom plans to slash 200 management jobs by mid-year, and more lay-offs are likely.

Telecom is targeting a reduction of 200 top jobs this year, after cutting its earnings guidance for years 2011 through to 2013 years.

Telecom shares fell 6c after it cut earnings guidance for the financial years from 2011 to 2013.

Vodafone says it has has received a "huge" influx of customers from Telecom in the wake of its rival's XT dramas.

Over 100,000 mobile users have switched providers but kept their mobile numbers since August, about two-thirds of those moving to our newest telco.

Telecom wholesale and international business chief executive is departing after seven years at the company.

Telecom says it "absolutely unreservedly apologises" for an intermittent XT outage in the Auckland area this morning.

Telecom and nzherald.co.nz are giving one deserving business team of up to six people the chance to win a day sailing around Auckland Harbour.

Telecom staff were told this morning that the company's 'Mr XT', responsible for mobile devices and services, would leave at the end of his contract in July.