Business

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 - The Dominion Post

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 - BusinessDay.co.nz

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.

Wool service international reports lower profit

Wool Services International reported a $1.036 million profit in the six months to December 31, down from $1.11m in the same period last year.

Indices

  VALUE MOVEMENT
NZX50 5,198.229 arrow -12.631 -0.24%
ASX200 5,473.450 arrow -57.700 -1.00%
DOW 17,031.140 arrow 43.600 0.30%
NASDAQ 4,518.900 arrow -48.700 -1.10%
FTSE 6,804.210 arrow -2.800 0.00%
NIKKEI 15,948.290 arrow 39.100 0.30%
H-SENG 24,356.990 arrow -238.300 -1.00%
NZX50 20 min delay, others last close

Top Movers

  PRICE MOVEMENT
WDT 0.085 arrow 0.015 21.43%
RAK 0.320 arrow 0.020 6.67%
VML 0.017 arrow 0.001 6.25%
SGL 0.085 arrow 0.005 6.25%
XRO 21.000 arrow 0.960 4.79%
BLT 0.022 arrow -0.001 -4.35%
NWF 0.050 arrow 0.002 4.17%
Price as at 4:05 pm, 16 Sep

Currencies

RATE
Australian Dollar 0.906
Euro 0.632
British Pound 0.504
Hong Kong Dollar 6.343
Japanese Yen 87.680
Singapore Dollar 1.033
US Dollar 0.818
Price as at 3:50 pm, 16 Sep

Kiwisaver numbers pass 700,000

More than 700,000 people have signed up to the Government's KiwiSaver as the retirement savings scheme celebrates its first birthday today.

Eye on providers at annual report time for KiwiSaver

Hundreds of thousands of KiwiSavers will receive their first annual report in the post this week.

Future uncertainty of Kiwisaver worries wealthy

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".

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.

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.

This is no ordinary recession

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!"

Rushed regulations may harm patient

Gluttons table set by central banks

Boosting savings for lower income people

You're struggling on a low income, as a part- time or full-time worker. All this talk about saving is fine for those making plenty, but you feel you can't spare anything. Fair enough.

High rollers in SkyCity's sights

International gamblers at  SkyCity's Australia and New Zealand casinos are down by around 15 percent due to the recessionary climate.

Douglas slams Govt's F&P bailout talk

The Government’s approach to a possible bailout for Fisher & Paykel Appliances and next week’s jobs summit are both ill-thought out and lack logic, former Finance Minister Sir Roger Douglas says.

Be careful with your redundancy cheque

Govt gives exporters kick-start

NZ animators having special effect on world's screens

Disney, Star Wars, Doom, Electronic Arts. The names and brands hit home to a visual effects professional like a jackhammer list of industry legends, and among others they lined up at the recent Animfx conference in Wellington.

Windows 7 to be tailored for netbooks

Microsoft outlined plans to offset revenue declines as the PC market shifts to low-cost netbooks, but it failed to announce more cost cuts, sending its shares to an 11-year low.

Branson expands empire as Virgin cuts jobs

Even a $101.4 million loss and plans to cut 400 jobs from his global business empire can't keep the indefatigable Richard Branson down.

Asean leaders coordinating on financial crisis

AIG 'nears new bailout deal'

Telstra says CEO Trujillo leaving

Telstra, Australia's largest phone company, says its chief executive, Sol Trujillo, will leave the company on June 30.

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