Dene Mackenzie

Property developers, particularly those involved with residential projects, would find money harder to come by as cash from finance companies and banks dried up, Myles Wealth Management director Craig Myles said yesterday.

The slowing global economy hurt New Zealand's trade balance in the three months ended March, as the country's earnings from foreign investment declined.

Invercargill-based Southland Building Society (SBS) reported an operating profit of $21.3 million for the year ended March, down on the $22.2 million reported in the previous corresponding period (pcp).

Consumer confidence throughout New Zealand slid sharply in the three months ended June, with Otago and Southland slumping to the bottom of the pile.

The week ahead is unlikely to bring any relief to investors around the world, with markets expected to continue to fall or stagnate ahead of a United States Federal Reserve meeting.

The National Party is forming the rules of a new game Prime Minister Helen Clark is only too happy to play.

The game, "Hide the policy", has been active for all of this year and it is likely to be played with increased intensity between now and whenever the election is called.

The rules are simple. National criticises everything the Government says.

The March reporting season delivered median operating earnings growth of 6%, something Forsyth Barr broker Ken Lister regarded as a fair performance given the slowing economy.

A higher police presence, shutting bars earlier and the installation of closed circuit cameras would go a long way to solving the problem of violence in the Octagon, in Dunedin, National Party police spokesman Chester Borrows said yesterday.

Shares in Dominion Finance fell sharply yesterday as speculators moved into the market to cash in on the possibility of short-term gains.