Business
NZ shares hit five-year low
BY AARON LIM - © Fairfax NZ News
The benchmark NZX 50 index extended losses in afternoon trading, falling below 2500 for the first time since January 2004, as gloom continues to stalk global financial markets.
Job cuts possible at TVNZ
Jobs may be on the line at TVNZ as the state-owned broadcaster looks for ways to cut $25 million worth of costs in the wake of a drop in advertising revenue.
Wellington wind farm approved
BY DAVE BURGESS - © Fairfax NZ News
Meridian Energy has been given permission for a 29-turbine wind farm in Ohariu Valley, which one local says will see a rural road to nowhere become a "super highway".
PGG Wrightson posts $32.8 million loss
BY ALAN WOOD - © Fairfax NZ News
Farm supply and services group PGG Wrightson posted a loss of $32.8 million for the six months to December 31, 2008 saying it has received bank refinancing and commitments from major shareholders.
Indices
| VALUE | MOVEMENT | |||
|---|---|---|---|---|
| NZX50 | 3,315.144 |  |
2.915 | 0.09% |
| ASX200 | 4,296.000 | |
44.800 | 1.10% |
| DOW | 12,845.130 |  |
-17.100 | -0.10% |
| NASDAQ | 2,901.990 | |
-3.700 | -0.10% |
| FTSE | 5,892.200 | |
-8.900 | -0.20% |
| NIKKEI | 8,929.200 | |
97.300 | 1.10% |
| H-SENG | 20,709.940 | |
-47.000 | -0.20% |
| NZX50 20 min delay, others last close | ||||
Top Movers
Currencies
| RATE | |
|---|---|
| Australian Dollar | 0.773 |
| Euro | 0.636 |
| British Pound | 0.528 |
| Hong Kong Dollar | 6.472 |
| Japanese Yen | 64.000 |
| Singapore Dollar | 1.041 |
| US Dollar | 0.835 |
| Price as at 7:20 pm, 7 Feb | |
Feb 20 - Close: Market down; investors worry about debt
The ongoing collapse of the PGG Wrightson share price was a feature on a very bleak day on the share market.
Feb 27 - Close: Market ends lacklustre session with flourish
The New Zealand share market had a fairly lacklustre day but managed a spurt higher ahead of the close.
Feb 27 - Open: Sharemarket flat in early trade
Feb 26 - Close: Market flat under mountain of profit reports
Feb 24 - Close: Market slumps further into 5 year low
The New Zealand sharemarket slid further today, showing no sign of wanting to rise from its five year low.
Feb 27 - Open: Kiwi in narrow range against greenback
The New Zealand dollar moved within a fairly tight range overnight against the greenback which slid against the euro as investors were prepared to take on more risk.
Feb 26 - Close: NZD falls trades around US51c figure
The New Zealand dollar spent the day trading around the US51c figure after falling a cent against the United States dollar overnight as the greenback strengthened on its appeal as a safe haven.
Feb 26 - Open: Kiwi falls 1c from week-high against greenback
Feb 25 - Close: NZD trades in narrow range
Feb 27 - Close: NZD heavy in quiet session
The New Zealand dollar had a heavy feel today and it drifted down toward support levels.
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Join KiwiSaver now
Do yourself a favour - join KiwiSaver
A reader protests that, despite my suggestion that everyone under 65 should sign up to KiwiSaver, "reality has it that not many of us can afford it".
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You and your company have a choice: you can hunker down hoping the global economic crisis will blow over soon, or you can use it as a springboard for building a much better business.
Farmers: we are backbone of New Zealand
"It wasn't much pleasanter at home," thought poor Alice, "when one wasn't always growing larger and smaller, and being ordered about by mice and rabbits. I almost wish I hadn't gone down that rabbit hole and yet and yet it's rather curious, you know, this sort of life!"
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