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Businesswire - Latest News [Page 250]
NZX50 drops; Tourism Holdings falls, Rakon up
Sunday, 8 March 2009, 2:10 pm | Businesswire
March 6 – New Zealand shares fell, led by Tourism Holdings Ltd. on concern the weakening kiwi dollar won’t be enough to spur tourist numbers during the global downturn. Rakon Ltd. jumped after reiterating the profit forecast it made in November. More >>
Skellerup gains on dairy sales
Friday, 6 March 2009, 5:10 pm | Businesswire
March 6 – Skellerup Industries, a manufacturer of rubber goods and milking equipment, posted a 6.6% gain in first-half profit on increased demand from dairy farmers. More >>
ANZ National predicts profit drop in 2009
Friday, 6 March 2009, 5:05 pm | Businesswire
March 6 – ANZ National Bank, New Zealand’s largest lender, said profit will fall this year as the prolonged recession squeezes borrowers and boosts credit provisions. More >>
NZ cash budget deficit worsens as tax take shrinks
Friday, 6 March 2009, 12:02 pm | Businesswire
March 6 – New Zealand’s cash budget deficit was worse than forecast in the seven months through January, reflecting a slide in tax revenue as the economy contracted, according to Treasury figures. More >>
Fletcher to focus on cost control, preserving cash
Friday, 6 March 2009, 11:11 am | Businesswire
March 6 – Fletcher Building Ltd., New Zealand’s largest building company, will focus on cost control and preserving cash in the face of weak demand in Australia and the U.S. in 2009. More >>
NZ dollar slides below 50 US cents as stocks slump
Friday, 6 March 2009, 10:09 am | Businesswire
March 6 – The New Zealand dollar slid back below 50 U.S. cents after global equity markets tumbled on growing fears some major financial institutions may be unable to service long-term debt and China doused talk that it would increase spending. More >>
While you were sleeping: stocks slump on GM, banks
Friday, 6 March 2009, 10:01 am | Businesswire
March 6 – Stocks on Wall Street slumped after auditors said General Motors may not be able to survive outside of bankruptcy, China’s speculated extra stimulus failed to eventuate and Moody’s Investors Service said it may cut JPMorgan Chase’s ... More >>
Stocks to Watch: Goodman Fielder debt, SKC revamp
Friday, 6 March 2009, 9:58 am | Businesswire
March 6 – The following stocks may be active on the New Zealand exchange after developments since the close of trading yesterday. More >>
MARKET CLOSE: NZX rallies; Rakon soars, GPG up
Thursday, 5 March 2009, 11:33 pm | Businesswire
March 5 – New Zealand stocks rose for a second day, with Rakon Ltd. leading a rally among stocks most punished in the recent rout as some investors bet much of the bad news is already priced in. More >>
Australia extends ban on shorting financials
Thursday, 5 March 2009, 1:57 pm | Businesswire
March 5 – Australia extended a ban on short selling of financial stocks for at least two months, citing continued volatility in global financial markets. More >>
Auckland house prices rise, confidence edges up
Thursday, 5 March 2009, 12:35 pm | Businesswire
March 5 – Auckland house prices rose last month and the number of property sales increased, suggesting tentative signs that confidence is creeping back into the market, according to Barfoot & Thompson, the city’s biggest real estate firm. More >>
Bollard may not cut as deep as RBA holds rates
Thursday, 5 March 2009, 12:15 pm | Businesswire
March 5 – Reserve Bank of New Zealand Governor Alan Bollard may not cut the 3.5% official cash rate by as much as expected next week after his counterpart in Australia held its benchmark rate unchanged at 3.25% even as that economy contracted. More >>
NZ dollar climbs above 50 US cents on Chinese plan
Thursday, 5 March 2009, 10:20 am | Businesswire
March 5 – The New Zealand dollar rebounded over 50 U.S. cents from a six-year low as global stocks rallied on speculation China will inject more money into its economy. More >>
While you were sleeping: Stocks gain on China talk
Thursday, 5 March 2009, 10:06 am | Businesswire
March 5 – Stocks rallied on Wall Street and in Europe amid speculation Chinese Premier Wen Jiabao will announce further measures to underpin growth in the world’s No. 3 economy. More >>
Stocks to Watch: Fletcher briefing, KIP mall
Thursday, 5 March 2009, 10:03 am | Businesswire
March 5 – The following stocks may be active on the New Zealand exchange after developments since the close of trading yesterday. More >>
Windflow Claims Competitive Edge on Low Dollar
Wednesday, 4 March 2009, 7:14 pm | Businesswire
March 4 – Local wind turbine manufacturer Windflow Technology Ltd is claiming a competitive edge over foreign competitors as the low Kiwi dollar raises the price and erodes the economics of new windfarm developments. More >>
NZ commodity prices drop for 7th month
Wednesday, 4 March 2009, 3:45 pm | Businesswire
March 4 – New Zealand commodity prices fell for the seventh straight month, led by wool, skins, seafood, aluminium and logs, in a sign that weakening world growth is eroding demand for the nation’s exports. More >>
Contact Customer Numbers Still Dropping
Wednesday, 4 March 2009, 3:23 pm | Businesswire
March 4 - Contact Energy’s customer bleed continues and is hitting its gas as well as its electricity retail base. The country’s second largest generator-retailer lost another 3,382 electricity customers in January, taking the total back to 506,635, ... More >>
Australian economy shrinks; currency falls
Wednesday, 4 March 2009, 3:18 pm | Businesswire
March 3 – Australia’s economy unexpectedly contracted in the fourth quarter, stoking concern the lucky country may not skirt a recession that’s engulfed many of its trading partners. The Australian dollar tumbled and bond yields jumped after ... More >>
Kiwi eftpos transactions fell last month: Paymark
Wednesday, 4 March 2009, 2:02 pm | Businesswire
March 3 – New Zealanders’ spending fell last month, with a drop in big-ticket purchases and luxury items, according to Paymark. More >>
