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Businesswire - Latest News [Page 252]
MARAC profit falls 48% on impairments, lending
Friday, 27 February 2009, 1:26 pm | Businesswire
Feb. 27 – MARAC Finance, the finance company owned by Pyne Gould Corp., said first-half profit fell 48% on impairment charges for bad loans and a downturn in lending. More >>
NZ housing confidence rises as prices slip: ASB
Friday, 27 February 2009, 11:12 am | Businesswire
Feb. 27 – New Zealand housing confidence rose in the three months through January as falling house prices and cheaper borrowing costs revived the appeal of property as an investment. More >>
Businesses “Get It”, Consumers in La-la Land
Friday, 27 February 2009, 10:51 am | Businesswire
Feb 27. – New Zealand businesses “get it” that an economic tidal wave is heading our way, but consumers have yet to realise the gravity of the world economic recession, according to the BNZ’s chief economist, Tony Alexander. More >>
Bollard urges banks to free up credit to NZers
Friday, 27 February 2009, 10:48 am | Businesswire
By Paul McBeth Feb. 27 – Reserve Bank of New Zealand Governor Alan Bollard urged banks to use the support mechanisms offered by government to free up access to credit for consumers and businesses to help revive the flagging economy. More >>
NZ dollar falls to 6-month low against A$
Friday, 27 February 2009, 10:16 am | Businesswire
By Paul McBeth Feb. 27 – The New Zealand dollar fell to a 6-month low against the Australian dollar amid speculation the nation’s biggest trading partner will hold off sliding into recession while the domestic economy remains in a slump. More >>
While you were sleeping: Obama to tax the rich
Friday, 27 February 2009, 10:13 am | Businesswire
Feb. 27 – President Barack Obama proposed increases in the top U.S. tax rates, under a budget proposal that would reap almost US$1 trillion from the wealthy to fund tax breaks for the poor. More >>
Stocks to Watch: EBOS profit up, FPA in bank talks
Friday, 27 February 2009, 10:10 am | Businesswire
Feb. 27 – The following stocks may be active on the New Zealand exchange after developments since the close of trading yesterday. Themes of the day: Stocks fell on Wall Street, led by health insurers. President Barack Obama proposed increases ... More >>
BBI cedes control of Powerco to clinch sale
Thursday, 26 February 2009, 4:05 pm | Businesswire
Feb. 26 – Babcock & Brown Infrastructure will cede control of Powerco, channel all surplus operating cash flow toward debt repayment and pay higher interest to gets its sale of the utility over the line. More >>
ANZ Bank to cut dividends by 25% as bad debts rise
Thursday, 26 February 2009, 4:01 pm | Businesswire
Feb. 26 – Australia and New Zealand Banking Group, owner of New Zealand’s biggest combined lender, plans to cut dividend payments by 25% this year and may raise more capital as bad debts rise. More >>
Nuplex posts 76% drop in profit, suspends dividend
Thursday, 26 February 2009, 3:59 pm | Businesswire
Feb. 26 – Nuplex Industries, the specialty chemicals maker that’s in talks with its banks to loosen its loan terms, posted a 76% drop in first-half profit amid waning global demand. More >>
Wrightson gets debt reprieve, posts loss
Thursday, 26 February 2009, 2:51 pm | Businesswire
Feb. 26 – PGG Wrightson Ltd., New Zealand’s biggest rural services company, posted a first-half loss on costs of its failed transaction with Silver Fern Farms and a writedown of its stake in New Zealand Farming Systems Uruguay. More >>
NZD declines as Wall Street stages late slide
Thursday, 26 February 2009, 10:16 am | Businesswire
Feb. 26 – The New Zealand dollar fell after Wall Street staged a late retreat, reflecting weak home sales data and dividend cuts at insurance companies, stoking traders to eschew high-yielding, or riskier, assets. More >>
Air NZ profit slumps 79%
Thursday, 26 February 2009, 10:14 am | Businesswire
Feb. 26 – Air New Zealand Ltd., the country’s national carrier, posted a 79% slump in half-year profit as falling demand and rising fuel prices cut into the airline’s margins. More >>
Air NZ profit plummets, Goodman Fielder sinks
Thursday, 26 February 2009, 9:57 am | Businesswire
Feb. 26 – The following stocks may be active on the New Zealand exchange after developments since the close of trading yesterday. More >>
While you were sleeping: Wall Street reverses drop
Thursday, 26 February 2009, 9:49 am | Businesswire
Feb. 26 – Stocks on Wall Street staged a late rebound after the Treasury released details of the so-called stress test program for lenders, driving financial companies higher. More >>
Dom Post editor Pankhurst steps down to head NPA
Thursday, 26 February 2009, 9:44 am | Businesswire
Feb. 25 – Paul Pankhurst has resigned as editor of the Dominion Post newspaper to become head of the Newspaper Publishers' Association, the industry’s lobby group in New Zealand. More >>
MARKET CLOSE: NZ stocks rise from 5-year low
Thursday, 26 February 2009, 9:41 am | Businesswire
Feb. 25 – The NZX 50 Index rose from a five-year low after U.S. stocks rallied and New Zealand Oil & Gas and Port of Tauranga posted higher earnings. More >>
Smellie Sniffs the Breeze: The Politics of Gesture
Thursday, 26 February 2009, 9:36 am | Businesswire
And if it is real, how much is it reasonable to expect from such a gathering? My suspicion is that it’s only real as a nationally unifying gesture; that the notion of a couple of hundred, albeit hand-picked, leaders can produce a coherent result ... More >>
Strategic Finance posts first-half loss
Wednesday, 25 February 2009, 5:20 pm | Businesswire
Feb. 25 – Strategic Finance Ltd. posted a first-half loss on increased provisioning and bad debts stemming from the downturn in the property and finance sectors. More >>
Goodman Fielder stock tumbles
Wednesday, 25 February 2009, 3:56 pm | Businesswire
Feb. 25 – Shares of Goodman Fielder Ltd., the food ingredients manufacturer, tumbled after the company posted a 22% decline in first-half earnings and said full-year earnings may weaken by about the same amount. More >>
