Transtasman and Asian markets traded on sentiment yesterday in the hope that when Wall Street opens this morning, investors will find the worst of the rout is over.
Forsyth Barr brokers Peter Young and Suzanne Kinnaird have picked a diverse range of shares they expect to do well this year.
Silver Fern Farms chief executive Keith Cooper has found himself on the receiving end of some harsh criticism from Federated Farmers.
Silver Fern Farms spent more than $43 million on restructuring its operations in the year ended August 2008, including paying redundant workers $22.7 million.
Federated Farmers is calling for Fonterra to be more realistic about its payout forecasts after the dairy giant yesterday indicated that a reduction in the current forecast of $6 per kg of milksolids was likely.
Transtasman sharemarkets were in holiday mode yesterday.
Finance Minister Bill English has painted a gloomy picture of the economy for the next few years but has promised to raise New Zealanders' incomes by improving productivity and economic growth.
The Government intends borrowing and spending its way out of the current recession and economic downturn, Finance Minister Bill English indicated yesterday.
Two important pieces of data out today and tomorrow will add to the general gloom surrounding New Zealand's economic outlook.
New Zealand firms seem resigned to a further contraction in business as the December ANZ-National Bank business confidence survey collapses to a record low.
New Zealand's economy was nearly at the level of Treasury's worst-case scenario, Finance Minister Bill English admitted yesterday.
Increases in ACC levies announced yesterday were unfortunate and were proof greater transparency was needed in the way levies were set, Business New Zealand chief executive Phil O'Reilly said.
Reserve Bank governor Alan Bollard should act quickly to provide businesses and households with some further interest rate relief before Christmas, Myles Wealth Management principal Craig Myles said yesterday.
Better co-operation between New Zealand's public and private health systems was needed to enhance the health of the nation, National Party list MP Michael Woodhouse, of Dunedin, said yesterday.
The 10-year ban on building thermal power stations will be overturned this week after Energy and Resources Minister Gerry Brownlee started the process yesterday in Parliament.
Dunedin South MP Clare Curran used her maiden speech in Parliament yesterday to urge the Government to reconsider its decision to scrap the $1 billion energy efficiency fund which would help keep houses and flats in her electorate warm and dry.
Treasury figures out tomorrow are expected to make grim reading despite assurances from both Reserve Bank and Treasury officials this week that New Zealand is heading out of recession.
The Government's debt management office might struggle to find buyers for its expected large increase in bond tenders to fund ambitious capital expenditure programmes, Westpac chief economist Brendan O'Donovan says.
A package to assist those made redundant in the current economic turmoil will cost $50 million over two years if 70,000 people lose their jobs.
The Government anticipates up to 70,000 workers may be made redundant during the next two years but insists that does not mean the unemployment rate will rise by the same amount, because people will take advantage of its ReStart assistance package.
