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Businesswire - Latest News [Page 256]
NZ dollar falls on G7 pessimism, risk appetite
Monday, 16 February 2009, 11:29 am | Businesswire
Feb. 16 – The New Zealand dollar fell after the Group of Seven nations announced an ongoing bleak outlook for the global economy, discouraging investment in higher-yielding, or riskier, assets. More >>
Overnight: G-7 sees downturn through 2009
Monday, 16 February 2009, 11:28 am | Businesswire
Feb. 16 – Group of Seven finance ministers and central bankers said a severe economic downturn could persist through 2009 as the pledged to work together to end the recession while maintaining free trade. More >>
Market Close: NZ stocks mixed; Telecom falls
Friday, 13 February 2009, 7:02 pm | Businesswire
Feb. 13 – New Zealand stocks were mixed, with Telecom Corp. ending the day lower after posting a 92% drop in second-quarter profit and Michael Hill International sliding on further signs of a weak retail market. More >>
Damage Control Follows NZX Letter Leak
Friday, 13 February 2009, 6:36 pm | Businesswire
Feb 13. – The Securities Industry Association has ordered its membership to investigate the source of leaked letters between the SIA and NZX Ltd. over a “sub-standard” issues paper covering changes to securities clearing and settlement rules. More >>
ACC considers $50 mln bond issue
Friday, 13 February 2009, 5:49 pm | Businesswire
Feb. 13 – Auckland City Council said it is considering the sale of up to NZ$150 million of fixed-rate, five-year bonds this month. More >>
MARAC Underwrite Hits Pyne Gould Profit
Friday, 13 February 2009, 3:20 pm | Businesswire
Feb. 13 – Pyne Gould Corp. said it will post a first-half loss after its MARAC Finance unit called on a NZ$25 million underwriting facility to cover impaired property loans. Its shares dropped 3.9% to NZ$2.50. More >>
AMP profit tumbles 41%
Friday, 13 February 2009, 3:16 pm | Businesswire
Feb. 13 – AMP Ltd. posted a 41% slump in annual profit on investment losses and cut its final dividend to preserve cash. More >>
Quarterly retail sales slide
Friday, 13 February 2009, 2:10 pm | Businesswire
Feb. 13 – New Zealand retail sales fell in the fourth quarter, rounding out a year-long slide as the prolonged recession and rising jobless rate sapped consumer spending and spurred households to reduce debt and conserve cash. More >>
NZ viewed as safe haven - Bollard
Friday, 13 February 2009, 2:02 pm | Businesswire
Feb. 13 – New Zealand is being viewed as a relative safe haven, and foreign lenders are likely to restore credit lines to the nation’s banks, the central bank governor said today, according to Reuters. More >>
House sales tumble in January
Friday, 13 February 2009, 1:59 pm | Businesswire
NZ home sales tumbled last month; properties took longer to sell Feb. 13 – New Zealand home sales tumbled in January while properties took longer to sell, suggesting uncertainty about the economic outlook is damping demand even as mortgage rates fall. More >>
Kiwi falls on risk aversion
Friday, 13 February 2009, 1:53 pm | Businesswire
Feb. 13 – The New Zealand dollar extended its decline as investors continued to flock to safe haven currencies such as the greenback after U.S. jobless claims reached record levels and doubts swelled about the fiscal stimulus measures. More >>
Telecom profit plummets
Friday, 13 February 2009, 10:20 am | Businesswire
Feb. 13 – Telecom Corp., the country’s largest telecommunications provider, posted a 92% fall in second-quarter profit as one-time charges and falling sales dragged down its bottom line. More >>
While you were sleeping: Dow falls on bailout
Friday, 13 February 2009, 10:16 am | Businesswire
Feb. 13 – the Dow Jones Industrial Average fell after U.S. government figures showed a record 4.81 million people were on unemployment benefits in the last week of January and doubts grew about the impact of the government stimulus plans. More >>
Stocks to Watch: Telecom earnings sink
Friday, 13 February 2009, 10:10 am | Businesswire
Feb. 12 – The following stocks may be active on the New Zealand exchange after developments since the close of trading yesterday. More >>
Property slump delaying rest home entry
Friday, 13 February 2009, 9:50 am | Businesswire
Feb. 13 – The downturn in New Zealand’s property market is hitting the elderly as they prepare for their twilight years – making it harder to sell their homes to enter retirement villages. More >>
MARKET CLOSE: NZ shares snap 3-day slide
Thursday, 12 February 2009, 6:34 pm | Businesswire
Feb. 12 – New Zealand shares snapped a three-day slide as Steel & Tube Holdings posted a jump in earnings and Fletcher Building said its balance sheet is strong enough to survive the downturn. More >>
NZX Rules Review “Sub-Standard”, Weldon Admits
Thursday, 12 February 2009, 6:16 pm | Businesswire
By Pattrick Smellie Feb 12. – NZX chief executive Mark Weldon has apologised to the Securities Industry Association for a “sub-standard” draft rules and consultation paper issued for industry submissions in December. More >>
Shell reviews NZ assets, including refinery share
Thursday, 12 February 2009, 6:00 pm | Businesswire
Feb. 12 – Royal Dutch Shell Plc, Europe’s largest oil company, is reviewing its investments in New Zealand including a 17% stake in the nation’s only refinery. More >>
Smellie sniffs the breeze: How bad will it get?
Thursday, 12 February 2009, 2:44 pm | Businesswire
I just spent five weeks overseas, in Europe and the Middle East. Call me an optimist, but things don’t feel so bad here. More >>
Steel & Tube profit up - tough times ahead
Thursday, 12 February 2009, 2:26 pm | Businesswire
Feb. 12 – Steel & Tube Holdings, which supplies steel products to the construction industry, said first-half profit more than doubled on higher prices for steel. The shares climbed 5.1% after the announcement. More >>
