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 a seven-month high against the greenback, as the United States currency capitulated after heavy offshore selling. This is not so much about us doing well but the Americans struggling with getting their economy back on the straight and narrow.
Not learning from the global credit crisis Options dealers in Tokyo said hedge funds have been buying dollar call options as far out as seven years in recent weeks with strike levels above 120 or 130 yen. SEVEN YEARS.
So the wheel continues to turn very slowly, the mistakes pre credit crunch seem to have been forgotten and people every where are still wondering how they are going to fund themselves in retirement.
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