South Canterbury Finance is blaming an unnamed financial
adviser for the substantial slump in the price of its
perpetual preference shares this week.
Surging unemployment has given Government critics a chance to
vent their anger at employment policies they say are failing
out-of-work New Zealanders and are damaging the economy.
yesterday of Telecom by rating agency Standard and Poor's had
nothing to do with how the company was performing, Forsyth
Barr broker Suzanne Kinnaird said.
New Zealand Post's traditional business was eroding and the
state-owned enterprise faced the challenge of how to respond,
Craigs Investment Partners broker Chris Timms said yesterday.
The South Island is far better placed than the North Island
when it comes to seasonally unadjusted unemployment numbers,
according to Statistics NZ's household labour force survey.
Kathmandu Holdings' shares fell about 15% in value yesterday
on New Zealand and Australian sharemarkets after the retailer
failed to meet prospectus forecasts.
Regulation of mobile termination rates would improve
competition in the mobile market and result in lower prices,
Communications and Information Technology Minister Stephen
Joyce said yesterday.
Allied Farmers is hoping to raise $19.3 million in a
partially underwritten capital raising, to reduce debt and
achieve longer-term business plans, but brokers are
questioning the value for investors.
The Council of Trade Unions says there is room for cautious
optimism for wage levels although many people are still not
Two Christchurch orthopaedic surgeons who set up practices
through family trusts have been granted leave to appeal a
Court of Appeal finding that they used the trust structures
for tax avoidance.
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