Westpac New Zealand chief executive officer George Frazis was
in Dunedin yesterday, celebrating another successful part of
his strategy of "more banks in more places".
The promise by European Union finance ministers to set up a
rescue mechanism for financially troubled governments
appeared to steady Asian, Australian and New Zealand
Telecom and Vodafone yesterday signalled their market
intentions as the competition intensifies in New Zealand's
Dunedin accountant Jono Bredin will early next month be part
of an exchange programme aimed at strengthening economic
relationships with Japan.
Three stories caught the eye in the past week.
The Labour Party has started the difficult process of
differentiating itself from other political parties with a
public outing on Saturday of the new open policy process.
The New York Stock Exchange yesterday started an
investigation into a possible computerised share sell-off
that triggered yet another turbulent day on world markets.
Telecom's XT mobile network was unable to cope with the
number of customers wanting to switch to the ultra-fast
service, the company said yesterday.
The ongoing effects of the recession are still costly for
Telecom, with the company estimating the slowdown had cost
about $10 million in the three months ended March.
The ongoing recovery in
New Zealand's economy was clearly demonstrated in the latest
Government accounts released yesterday by Treasury.
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