Archive for May, 2009
I’m in the News »
City suites are on the rise 4:00AM Sunday May 24, 2009 By Jane Phare Older investors are helping fuel a resurgence in the inner-city Auckland apartment market. The sector is bouncing back after two years suffering from leaky building fears, over-supply and banks refusing to lend the same percentages on "shoebox" apartments as other [...]
Monday Morning On My Mind »
Fisher & Paykel Appliances' shares have been placed in a trading halt until Wednesday as the whiteware maker continues working on a rescue plan with its banks. This is a big one for us here in NZ and may come as a surprise to many who don't really believe we are in a recession or even understand what that means. The New Zealand dollar reached [...]
Mixed Day »
News today that the Bank of New Zealand is hoping to raise at least $150 million from New Zealand retail and wholesale investors, for general corporate purposes. It will be interesting to see what rate they go after and how quickly they fill the offering after the success of other raisings this year. The ING Property Trust slid to an annual [...]
News from the NZX »
Part of my daily routine with Professional Investment Services is to read the variety of news that is being produced in the various markets, lending, shares, property, managed funds , kiwi saver etc etc. To give you an idea the snippet o news below is from the New Zealand Stock Exchange and is a great resource. Enjoy. May 19 - OPEN: The New [...]
It’s Happening Already »
I have been saying this for many years now and it is the main reason why the companies Financial Gain Australia and then Financial Gain NZ were started. Eventually and I believe this is just a matter of time, the eligibility criteria to receive government assistance in retirement will exclude just about everybody. This article in stuff is [...]
Worse Yet To Come »
Longtime technical analyst Robert Prechter, who forecast the 1987 stock market crash, predicted this week that US equities may plunge to half their lows hit in March as a deflationary depression bites. Now that is a mighty big call. What can one say about that other than get ready to buy buy buy the amazing bargains that will be around. Hang on [...]
Banks Told To Lower Profits »
Finance Minister Bill English has told banks to lower their profits, after the four big Australian-owned lenders reported total profits in excess of $4.5 billion. It always amazes me when the Banks make statements about how tough it is yet unlike many other businesses that are actually loseing money they are merely not making as much as [...]
Banks must continue to Lend »
The Reserve Bank says that banks must continue to lend to "creditworthy" borrowers. In releasing its six-monthly Financial Stability Report today, the central bank warned that credit growth had slowed in recent months. "Lending criteria have tightened and some businesses are reporting difficulties in obtaining credit," RBNZ Deputy Governor Grant [...]
Up and Down Like a Yo-Yo »
The New Zealand dollar retreated overnight after hitting a new six-month high against the greenback around US61.25c during the evening. However the share markets benchmark index climbed to a 6-1/2-month high during morning trading before going into a rapid decline after the opening of the Australian market. My "favorite" share (it's a long [...]
Unemployment Hits Six Year High »
Unemployment has hit a six-year high, according to official figures out today. Statistics New Zealand's household labour force survey for the March quarter shows that the number of jobless rose by 7000 to 115,000 during the period, with the unemployment rate increasing to 5 percent from 4.7 percent. However, the unemployment rate is much lower [...]
