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11 April 2008

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Selling Pressure Maintained On NZ Dollar

Wellington, July 25 NZPA - Downward pressure on the New Zealand dollar was today counter-acted by weakness in the US dollar due to fresh concern about the US economy and stocks.

Von Dadelszen To Pay Creditors In Full -- Liquidators

Wellington, July 25 NZPA - The principal of collapsed Tauranga share broker and investment advisory firm Von Dadelszen and Co and related company, Ravenscourt Finance, has agreed to pay all creditors in full, the liquidators said today.

Bed Maker Sleepyhead Buys Design Mobel

Wellington, July 25 NZPA - Bed manufacturer Sleepyhead has bought Tauranga-based bedding and furniture maker Design Mobel.

Under the deal, Design Mobel will continue to operate as a stand-alone business unit when the deal takes effect on August 1, Sleepyhead said today.

Transpacific Pays Investors With $26 Million In Shares

Wellington, July 25 NZPA - Transpacific Industries Group Ltd says it has issued $A20 million ($NZ26 million) worth of shares to "two sophisticated investors" to settle business deals.

Miners Say Extraction Industries Could Do Better For Economy

By Kent Atkinson of NZPA

Wellington, July 25 NZPA - Miners say New Zealand has $140 million worth of metallic minerals left in the ground , but needs a better approach to extracting wealth from both those minerals, and its oil, gas and coal.

Industry Group Calls For Ground-up Redesign Of Kiwi Share

Wellington, July 25 NZPA - The arrangement that sets out the basic residential telephone service that Telecom must provide should be redesigned from the ground up, an industry group says.

Air NZ Says Prices Will Have To Rise Further To Meet Fuel Costs

Wellington, July 25 NZPA - Air New Zealand, which has had to hike prices four times this year due to rising fuel prices, may need to hike them again, chief executive Rob Fyfe said.

Pay For Unskilled Workers Going Backwards - Survey

Wellington, July 25 NZPA - A new survey of pay rates shows a dramatic deterioration for those at the bottom of the heap, while rates for skilled workers are outpacing rampant inflation.

Supreme Court Rejects NZX Appeal

Wellington, July 25 NZPA - The Supreme Court has rejected stock exchange operator New Zealand Exchange's (NZX's) appeal to overturn a Court of Appeal ruling in favour of the Bank of New Zealand and Access Brokerage.

Profit Takers Send NZ Sharemarket Down

Wellington, July 25 NZPA - Profit takers and a negative steer from Wall Street sent the sharemarket lower in early trading today after its biggest rise of the year yesterday, spurred by the Reserve Bank interest rate cut.

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