Financial News Hub

Archive for February, 2012

The news arrived via the local supermarket just minutes before it hit the wires - eftpos is down, expect long delays in the checkout queue

New Zealand businesses are enjoying a greater sense of economic confidence, and the national construction is the most optimistic industry in the country.

On February 29th the National Bank released its quarterly Business Outlook survey report, saying that 28 percent of New Zealand businesses, compared to 19 percent in the December quarter of 2011, are expecting the economic conditions in the country to improve even more in the nearest future.

Approximately 31 percent of all businesses participating in the survey expected to see an increase in their own business activities over the coming year, compared to approximately 26 percent in the December quarter of 2011. Nearly 8 percent of businesses intend to hire more staff in 2012, up 3 percent from indicators published three months ago.

The National Bank attributed the rise in business confidence to improved economic conditions amongst New Zealand’s key trading partners and to New Zealand’s stable economic forecasts.

Businesses in the construction industry were the most optimistic in New Zealand, with nearly 49 percent of all surveyed enterprises expecting to see greater business activity in 2012, and nearly a third of all construction businesses intending to hire new staff during the current year. The boost in confidence was explained by a significant increase in the number of planned building projects across the country, especially in the Christchurch region.

Photo by Earth Infrastructures

The high price of gold will lead to more daring Ocean's Eleven Hollywood-type heists, says a New Zealand gold dealer."[Robberies] are starting to become more and more prevalent. And we'll probably see more of it as time goes on,"...

Justice Robert Dobson would do out-of-pocket investors in Lombard Finance a favour if he simply slaps Douglas Graham and the three other directors with significant financial penalties and a community service instead of sentencing...

Former Bridgecorp director Rod Petricevic was aware that the failed finance company's payments to investors were "delayed", according to his co-accused Rob Roest.Roest and Petricevic - along with fellow director Peter Steigrad...

Former Bridgecorp director Rod Petricevic was aware of the failed finance company missing payments to investors, according to his co-accused Rob Roest.Roest and Petricevic - along with fellow director Peter Steigrad -...

For some time now the EDHEC-Risk Institute has been regularly updating me on the performance of the world's hedge fund markets.This January, for instance, against a backdrop of a strong S&P 500 (up 4.8 per cent), some...

Billionaire Warren Buffett said on Monday that stocks remain relatively cheap compared to other investments as the US economy continues to improve. He also said that the company he heads is prepared to replace him whenever the need...

Former Bridgecorp director Rob Roest is toeing the same line as co-accused Rod Petricevic, saying late payments the failed finance firm made to its investors were delayed, not missed.Roest and Petricevic - along with fellow director...

The number of investors suing the former directors of Feltex Carpets has swelled to more than 2800 and they say the case has "gathered momentum".Investors are attempting to take a class action against former Feltex directors and...

A Crown claim that a trust linked to Mark Hotchin is a "sham" has been rejected and struck out by the Chief High Court Judge.But Justice Helen Winkelmann says a claim against a different trust associated with the former Hanover...

Banks operate in several despicable ways, and one is the honour and dishonour fee rort. If there isn't enough money in an account to cover a withdrawal or direct debit, the bank lets it go through, but then hits the customer with...

Increasing sums of money will be paid out of maturing KiwiSaver accounts in the years ahead. Cautious recipients will be terrified of losing their lump sum and will put it all into bank term deposits, yielding virtually nothing after...

At this time of year it is customary for many stock market strategists to make forecasts as to where they think the market will go in the next 12 months. Many of the participants know this activity is a bit of a waste of time but,...

There are no winners in the latest reverberation from the finance-company calamity, in which four directors of Lombard Finance, including former Cabinet ministers Sir Douglas Graham and Bill Jeffries, have been found guilty of making...

Chief executives need to achieve much higher long-term growth Ten years is a long enough period to evaluate the performance of directors, management and their companies.How have New Zealand listed companies performed over the...

The news that former Justice Ministers Sir Douglas Graham and Bill Jeffries, with two other directors of Lombard Finance, have been convicted of publishing untrue statements puts further acid on directors to be sure they know what...

The news that former Justice Ministers Sir Douglas Graham and Bill Jeffries, with two other directors of Lombard Finance, have been convicted of publishing untrue statements puts further acid on directors to be sure they know what...

Pensioner Paul Wah would not have invested a single cent with Lombard Finance if Sir Douglas Graham and Bill Jeffries - two former Ministers of Justice - hadn't been at the helm.Like so many of the company's investors, the Lower...

When you are investing in the Forex market watch the trends. You must keep up to date on the movement of the market so that you are able to buy at the lowest point possible, but sell when profits are the highest. You do not want to sell when the market is swinging wildly in [...]

The four Lombard Finance directors' offences are "a material step away from the seriousness required for a custodial sentence," Judge Robert Dobson says in his judgment, released in the Wellington High Court this morning.The judge...

The four Lombard Finance directors' offences are "a material step away from the seriousness required for a custodial sentence," Judge Robert Dobson says in his judgment, released in the Wellington High Court this morning.The judge...

The four directors of Lombard Finance - including former cabinet ministers Sir Douglas Graham and William Jeffries - have been found guilty of making untrue statements in the company's offer documents.Graham, Jeffries, Lawrence...

The four directors of Lombard Finance - including former cabinet ministers Sir Douglas Graham and William Jeffries - have been found guilty of making untrue statements in the company's offer documents.Graham, Jeffries, Lawrence...

The former directors of Lombard Finance & Investments have been found guilty of two of five charges under the Securities Act.The charges Doug Graham, Bill Jeffries, Lawrie Bryant and Michael Reeves faced related to statements...