- Latest News [Page 3]

Telecom outsources a further 250 call-centre jobs

Wednesday, 4 February 2009, 11:20 am |

Feb. 4 – Telecom Corp., the biggest company on the NZX 50 Index by market value, will shift a further 250 call centre jobs to the Philippines to help reduce costs. More >>

NZ dollar gains as Govt. aid lifts risk appetite

Wednesday, 4 February 2009, 10:59 am |

Feb. 3 – The New Zealand dollar rose as fiscal stimulus packages in Japan, China and Australia helped restore investors’ risk appetite. The kiwi may give up its gains with figures tomorrow expected to show a surging jobless rate. More >>

Stocks to Watch: NZ Equity Preview 4/2/09

Wednesday, 4 February 2009, 10:01 am |

Themes of the day: the average price of milk powder slumped a further 8.2% to US$1,851 per metric ton in Fonterra Cooperative Group’s online auction this week, bringing the decline since the auctions were started last July to 58%. Stocks rose on Wall ... More >>

While you were sleeping: Overnight wrap 4/2/09

Wednesday, 4 February 2009, 9:52 am |

Feb. 4 – Stocks rose on Wall Street after drugmakers Merck & Co. and Schering-Plough Corp. posted earnings that beat estimates and optimism rose about the impact of stimulus packages from Beijing to Washington. More >>

NZX 50 rises to 3-week high; banks gain

Tuesday, 3 February 2009, 9:29 pm |

Feb. 3 – New Zealand shares rose, pushing the NZX 50 Index to the highest in about three weeks, amid perceptions the downturn is already reflected in prices and as Australian banks rallied. More >>

RBA cuts benchmark int. rate to 45-year low 3.25%

Tuesday, 3 February 2009, 9:23 pm |

Feb. 3 – The Reserve Bank of Australia cut its benchmark interest rate to a 45-year low, saying the reduction, combined with the government’s A$42 billion fiscal stimulus package, will buffer the economy from the global slump. More >>

Australia pledges A$42 bln stimulus plan

Tuesday, 3 February 2009, 4:30 pm |

Feb. 3 – Australia will spend A$42 billion on a fiscal stimulus package to buffer the nation from the global recession, helping creating up to 90,000 jobs, build homes, make family benefit payments and grant tax breaks. More >>

NZ Gets Environmental Protection Agency Under RMA

Tuesday, 3 February 2009, 3:43 pm |

Feb. 3 – The government will create a U.S.-style Environmental Protection Agency to streamline approvals for projects of national importance including highways, railways, the national grid and the railroad. More >>

New Zealand Post to sell up to $150 mln notes

Tuesday, 3 February 2009, 1:47 pm |

Feb. 3 – New Zealand Post, the state-owned postal service and owner of Kiwibank, plans to sell as much as NZ$200 million of subordinated notes to repay existing debt. More >>

Fonterra sets minimum rate for 6-yr bonds at 7.75%

Tuesday, 3 February 2009, 1:08 pm |

Feb. 3 - Fonterra Cooperative Group, the world’s biggest exporter of dairy products, set the minimum interest rate on its 6-year bond offer at 7.75%, a rate high enough to lure investors faced with waning returns from bank deposits. More >>

Briscoe 4th-qtr sales fall 0.9% on homeware sales

Tuesday, 3 February 2009, 12:32 pm |

Feb. 3 – Briscoe Group Ltd., owner of the homeware, Living & Giving, Urban Loft and Rebel sports outlets, said fourth-quarter sales slipped 0.9% on a dip in revenue from its department stores. More >>

NZ dollar gains from 6-year low on US Stocks move

Tuesday, 3 February 2009, 11:56 am |

Feb. 3 – The New Zealand dollar rose from a six-year low as U.S. stocks pared their losses, helping lift the risk appetite of investors for higher yielding or riskier assets. More >>

Dorchester to proceed with doomed liquidation vote

Tuesday, 3 February 2009, 10:57 am |

Feb. 3 – Dorchester Pacific, whose main finance unit gained investor approval for its deferred repayment plan in December, will proceed with a special meeting to vote on putting the business into liquidation. More >>

While you were sleeping: Overnight wrap 3/2/09

Tuesday, 3 February 2009, 10:17 am |

Feb. 3 – U.S. manufacturing activity edged higher in January, the first month since June last year not marked by a deterioration, while consumers trimmed spending in December, figures showed. More >>

Stocks to Watch: NZ Equity Preview 3/2/09

Tuesday, 3 February 2009, 10:15 am |

Themes of the day: The New Zealand dollar fell below 50 U.S. cents for the first time in six years. It recently traded at 50.51 U.S. cents. Shares were mixed on Wall Street after figures showed consumer spending dropped 1% in December while a separate ... More >>

NZX 50 edges down after Nuplex profit warning

Tuesday, 3 February 2009, 10:13 am |

Feb. 2 – New Zealand’s benchmark NZX 50 Index snapped a five-day advance after Nuplex Industries cut its earnings forecast because of one-time charges and a drop in demand in Europe. More >>

NZ Farming Systems says drought breaks

Tuesday, 3 February 2009, 10:11 am |

Feb. 2 - NZ Farming Systems Uruguay Ltd., the company set up to export New Zealand’s intensive dairy farming techniques to South America, said it expects an increase in production after rains ended the worst drought in decades. More >>

Meridian sees Bank, Finance Cos. Gap for REN notes

Tuesday, 3 February 2009, 10:10 am |

Feb. 3 – Meridian Energy’s offer of unsubordinated notes seeks to exploit a gap in the market between the maturities and interest rates paid by banks and finance companies, says chief financial officer Neal Barclay. More >>

Nuplex won’t meet profit forecasts

Tuesday, 3 February 2009, 10:08 am |

Feb. 2 - Nuplex Industries Ltd., the nation’s biggest maker of specialty resins and chemicals, said a drop in demand in Europe and one-time costs mean earnings won’t be its November forecasts. More >>

Horizon cuts profit forecast on derivative losses

Monday, 2 February 2009, 4:16 pm |

Feb. 2 – Horizon Energy Distribution Ltd., which operates a power network in the eastern Bay of Plenty, cut its profit forecast by about 25% because of losses on interest rate derivatives. More >>