Dene Mackenzie

Investigating crazy day on Wall St

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.

Demand cause of XT failures

Demand cause of XT failures

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.

Slowdown costs Telecom $10m in quarter

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.

Finance markets aid recovery

Finance markets aid recovery

The ongoing recovery in New Zealand's economy was clearly demonstrated in the latest Government accounts released yesterday by Treasury.

Airline alliance attractive - broker

A transtasman alliance between Air New Zealand and Virgin Blue represents an alluring proposal for Air NZ shareholders, Craigs Investment Partners broker Chris Timms says.

Bollard hints at June OCR rise

Bollard hints at June OCR rise

International financial markets continued their volatility yesterday but in New Zealand it was all about the currency and the speech made by Reserve Bank governor Alan Bollard in Dunedin.

Tinge of caution over job figures

Tinge of caution over job figures

The fall in unemployment to 6% in the year ended March was being celebrated throughout New Zealand yesterday as a sign the labour market was finally following the rest of the economic recovery.

Reduced Telecom profit expected to put pressure on dividend

Telecom is expected to announce tomorrow a much reduced third-quarter operating profit but analysts will be focusing on any indication of the company's dividend policy for 2011 and beyond.

European fears hit markets

European fears hit markets

The Greek bail-out package put together by the European Union and the International Monetary Fund had done little yet to calm investors' nerves, Forsyth Barr broker Tony Conroy said yesterday.

Further increase in Australian OCR

The Australian Reserve Bank yesterday lifted its official cash rate by 0.25% to 4.5%, making it now 2% higher than the New Zealand Reserve Bank's 2.5% OCR.