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Price of recession is $50 bln, English says

Wednesday, 22 April 2009, 11:02 pm | Content.net

22 April - Finance Minister Bill English has put a price on the recession- $50 billion over three years - and revealed fears of a bigger jump in government debt than previously forecast by the Treasury that would require policy action to deflect. More >>

Powerco sale in doubt; B&B cites hitch

Tuesday, 24 February 2009, 12:51 pm | Content.net

Feb. 24 – The sale of a half stake in Powerco Ltd. is in doubt after Babcock & Brown Infrastructure said settlement of the deal has struck a hitch. More >>

Overnight: G-7 sees downturn through 2009

Monday, 16 February 2009, 11:26 am | Content.net

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 >>

Credit, debit card spending falls to 15-month low

Wednesday, 11 February 2009, 1:15 pm | Content.net

Feb. 11 – New Zealanders’ spending on credit and debit cards fell to a 15-month low in January as a rising jobless rate and prolonged recession deterred consumers from opening their wallets. More >>

NZX 50 drops, F&P Appliances leads decline

Wednesday, 11 February 2009, 12:47 pm | Content.net

Feb. 11 – New Zealand shares fell, with the NZX 50 Index heading for its biggest drop since mid-January, following a slide on Wall Street and concern Fisher & Paykel Appliances will be hit by the global downturn. More >>

Schools, Roads and Home Insulation Head Stimulus

Wednesday, 11 February 2009, 11:53 am | Content.net

Feb. 11 - The NZ Government’s $500 million fiscal stimulus will start to kick in immediately, with up to $100 million worth of the earmarked projects under way by June, Prime Minister John Key announced today. More >>

Stocks to Watch: NZ Equity Preview 11/2/09

Wednesday, 11 February 2009, 11:50 am | Content.net

Themes of the day: Stocks on Wall Street tumbled on disappointment over lack of specifics in Treasury Secretary Timothy Geithner’s revamped bank rescue package. The slump in stocks revived risk aversion and drove the New Zealand dollar down almost ... More >>

While you were sleeping: Overnight wrap 11/2/09

Wednesday, 11 February 2009, 11:49 am | Content.net

Feb. 11 – Stocks on Wall Street tumbled on disappointment at a lack of detail in Treasury Secretary Timothy Geithner revamped financial rescue plan to mop up bad bank assets. More >>

NZ dollar falls as U.S. rescue package disappoints

Wednesday, 11 February 2009, 9:49 am | Content.net

Feb.11 – The New Zealand dollar fell almost 2 U.S. cents amid disappointment at the lack of detail in the U.S. Treasury’s revamped rescue package to buy toxic bank assets and revive lending to consumers and businesses. More >>

NZX 50 falls for second day as earnings loom

Wednesday, 11 February 2009, 8:17 am | Content.net

Feb. 10 – New Zealand shares fell, pushing the NZX 50 Index lower for a second day, amid expectations the looming earnings season will provide a gloomy outlook for 2009. NZ Farming Systems Uruguay Ltd. led the decline. More >>

Kingfish small caps NAV fell 18% last quarter

Wednesday, 11 February 2009, 8:16 am | Content.net

Feb. 10 – Kingfish Ltd., the New Zealand small-cap investor managed by Fisher Funds, said its net asset value dropped 18% last quarter, reflecting the slide in New Zealand shares and a slump in rest-home operator Metlifecare. More >>

Sealegs abandons rights issue, stock down 38%

Wednesday, 11 February 2009, 8:02 am | Content.net

Feb. 10 – Sealegs Corp., the maker of amphibious boats, abandoned plans for a rights issue because of the global economic slump. Its shares tumbled 38% to the lowest level in at least a decade. More >>

Comvita forecasts profitable 2nd H. on Asian Sales

Wednesday, 11 February 2009, 8:01 am | Content.net

Feb. 10 – Comvita Ltd., which sells honey-based health products, forecast a profitable second half on a pick up in sales, especially in Asia. More >>

Whirlpool profit slump weighs on F&P Appliances

Wednesday, 11 February 2009, 8:00 am | Content.net

Feb. 10 – Shares of Fisher & Paykel Appliances sank to a record low after distribution and technology partner Whirlpool Corp. posted a fourth-quarter profit slump, highlighting the drop in demand for household items. More >>

Stocks to Watch: NZ Equity Preview 10/2/09

Tuesday, 10 February 2009, 10:09 am | Content.net

Themes of the day: The New Zealand dollar extended its gains, reaching 54.09 U.S. cents as optimism for the U.S. fiscal stimulus package continued. Earnings season kicks off on Thursday with Fletcher Building Ltd. announcing its half-year results, ... More >>

While you were sleeping: Overnight wrap 10/2/09

Tuesday, 10 February 2009, 9:59 am | Content.net

Feb. 10 – Whirlpool Corp., the world’s biggest maker of home appliances, posted a 76% drop in fourth-quarter profit and said earnings will fall further this year as the global downturn erodes sales. More >>

NZ dollar gains on growing risk appetite

Tuesday, 10 February 2009, 9:58 am | Content.net

Feb. 10 – The New Zealand dollar extended its gains for a second day to the highest in three weeks as risk appetite continued to grow amid expectations the fiscal stimulus package in the U.S. will help offset the declining global economy. More >>

NZ shares fall as earnings looms; Rakon drops

Monday, 9 February 2009, 9:47 pm | Content.net

Feb. 9 – New Zealand shares fell as investors prepare for an earnings season likely to be punctuated by weakening profits and a deteriorating outlook for companies on the exchange. More >>

Tui oilfield operator AWE secures rig for 4 wells

Monday, 9 February 2009, 2:23 pm | Content.net

Feb. 9 – Australian Worldwide Exploration Ltd., operator of the Tui oilfield, will drill at least four new offshore wells in the third quarter as it widens its search of the Taranaki basin. More >>

NZ consumers grow gloomier as recession hits jobs

Monday, 9 February 2009, 11:42 am | Content.net

Feb. 9 - New Zealand consumers grew gloomier in the latest Roy Morgan Research poll as signs of a prolonged recession and dwindling job prospects deterred people from spending. More >>

 

 
 
 
 
 

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