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Businesswire - Latest News [Page 235]

NZ electricity system cut into by cable break

Wednesday, 29 April 2009, 6:21 am | Businesswire

April 28 - Wholesale electricity prices are close to zero in the South Island, after the New Zealand electricity system was cut in two by the failure of the Cook Strait cable on Monday night. More >>

Investors play safe with savings, rentals: ASB

Wednesday, 29 April 2009, 6:15 am | Businesswire

April 29 – Bank saving accounts ranked as most preferred investment class in the ASB Investor Confidence survey, suggesting job worries and uncertainty about the economy are prompting people to keep their funds close at hand. More >>

NZ Institute calls for tough-love budget

Wednesday, 29 April 2009, 6:08 am | Businesswire

April 28 – The New Zealand Institute isn’t aiming to make friends with its prescription for the economy. In its pre-budget report, the privately funded think-tank suggests scrapping proposed income tax cuts, reviewing Working for Families and health spending, ... More >>

LWR placed in receivership, Pod assets ringfenced

Tuesday, 28 April 2009, 6:25 pm | Businesswire

April 28 - Lane Walker Rudkin, the Christchurch-based clothing manufacturer that traces its origins back to the 1880s, was placed in receivership by its bank amid mounting debts. More >>

MARKET CLOSE: NZX 50 gains as dollar falls; FPA up

Tuesday, 28 April 2009, 6:01 pm | Businesswire

April 28 - New Zealand shares rose, pushing the NZX 50 Index up for a second day, as a weaker kiwi dollar helped companies with offshore earnings and Telecom Corp. said its Chorus unit should be a key part of the broadband rollout. More >>

Lower KiwiSaver threshold ups participation: ING

Tuesday, 28 April 2009, 3:53 pm | Businesswire

April 28 – The lower threshold for KiwiSaver payments brought in by the new government may be attracting more people to the scheme, with more than a quarter of private investors intending to join, according to a survey by ING. More >>

Fonterra payout up 10 cents on "cautious optimism"

Tuesday, 28 April 2009, 3:45 pm | Businesswire

28 April – Fonterra Cooperative Group, the world’s biggest exporter of dairy products, is raising its payout to farmers amid "some encouraging signs of more stability" in global dairy prices. More >>

NZ Farming Systems predicts wider 2009 loss

Tuesday, 28 April 2009, 3:45 pm | Businesswire

April 28 - NZ Farming Systems Uruguay, the group developing dairy farms in South America using New Zealand’s intensive farming techniques, forecast a wider full-year loss because of the impact of drought on milk production. More >>

Stock appeal rises as global growth troughs: AMP

Tuesday, 28 April 2009, 3:16 pm | Businesswire

April 28 – Equity markets look significantly more attractive than cash or bonds, according to AMP Capital Investors, which manages around NZ$11 billion in New Zealand, and has boosted its stock holdings at the expense of fixed income and property. More >>

BNZ 1H net falls 3.8% on funding costs, bad loans

Tuesday, 28 April 2009, 2:23 pm | Businesswire

April 28 – Bank of New Zealand, the local unit of National Australia Bank, posted a 3.8% drop in first-half profit on increased funding costs and higher charges for bad and doubtful debts. More >>

Telecom pitches Chorus as Govt broadband partner

Tuesday, 28 April 2009, 11:05 am | Businesswire

April 28 – Telecom Corp., the country’s largest phone company, has pitched its Chorus division as a partner to the government’s roll-out of ultra-fast broadband, taking advantage of the utility’s existing infrastructure. More >>

F&P Appliances gains extension on debt to May 29

Tuesday, 28 April 2009, 10:29 am | Businesswire

April 28 – Fisher & Paykel Appliances, the whiteware manufacturer whose shares have tumbled 67% this year, gained an extension on its NZ$80 million interim banking facility. More >>

NZ dollar little changed; flu lifts greenback, yen

Tuesday, 28 April 2009, 10:01 am | Businesswire

April 28 – The New Zealand dollar was little changed as uncertainty about the potential swine flu pandemic bolstered support for the greenback and yen as investors sought the safety of the world’s biggest currencies. More >>

While you were sleeping: GM bond offer, swine flu

Tuesday, 28 April 2009, 8:36 am | Businesswire

April 28 – General Motors made its final offer to exchange bonds for equity to cut US$27 billion of debt and avoid bankruptcy in a plan that would leave the automaker in the hands of the Treasury and the United Auto Workers. More >>

MARKET CLOSE: NZX 50 gains; Lion, Wrightson climb

Monday, 27 April 2009, 6:17 pm | Businesswire

April 27 – New Zealand shares rose, with brewer Lion Nathan soaring on light volume after 46.1% owner Kirin Holdings offered to take over the company at a premium and PGG Wrightson gaining after settlement of its dispute with Silver Fern Farms. More >>