What you need to know: Monday
What you need to know on Monday morning, July 14.
- NZX50 down 27.4 points (0.50 per cent) to 5100.6 on Friday
- NZ dollar at US88.10 cents, A93.91c, 89.3yen, 51.47p, 64.79€c
- Brent crude oil at US$106.66 a barrel (down US$2.01)
- Spot gold at US$1338.60 an ounce
WHAT'S ON TODAY
- Lord Ian Livingston, Britain's minister of state for trade and investment, is in Auckland today pitching for partnerships in public works.
STOCKS TO WATCH
- With the New Zealand dollar still trading near its post-float high, stocks to watch today and throughout the week are the exporters, including Delegat's, Fisher & Paykel Healthcare, Sanford, and the Fonterra Shareholders' Fund.
- Dorchester Pacific is shedding its dividend today, although the finance company's stock has been thinly traded in recent years.
TOP INTERNATIONAL NEWS
- UK lender HBOS, which clocked up a staggering £48b (NZ$93.25b) in losses in 2008, faces further probes of its conduct in the leadup to the global financial crisis. The Financial Conduct Authority and Prudential Regulation Authority announced during the weekend they were looking beyond the actions of top executives and would consider again whether prosecution was warranted. A Parliamentary inquiry found the bank's "toxic" mistakes had led to "colossal failure".
HBOS, through its international subsidiary the Bank of Scotland International, lost hundreds of millions of dollars in New Zealand. The bank propped up Strategic Finance for a time and also made large advances to now-failed developers including Nigel McKenna and Terry Serepisos.
SOMETHING ELSE FOR YOUR MORNING
- The football World Cup, concluding this morning, has proved a boon for oft-overlooked US television network Univision. The Hispanic -language broadcaster has cashed in on the increasing appetite for football in the United States, winning the largest audience shares in key markets including New York and Los Angeles. The news, and quality of games, comes as a relief for the station's private-equity owners who bought the company for US$13.7b (NZ$15.5b) during the heady days of 2007.