ShareChat AM Update for Saturday 31 July 2010

 
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Saturday 31 July 2010
 
 
Read the top stories from:   New Zealand   /  Australia   /  The World
By Jenny Ruth  -  29 Jul, 10:34pm
Rakon has significant growth opportunities in the smartphone, telecommunications infrastructure and femtocell markets, he says... More »
Top New Zealand Stories
Telecom has finally rid itself of its struggling Australian retail business, confirming it sold the consumer division of its AAPT unit for A$60 million to iiNet.... Read more »
Telecom's A$140 million of asset sales this week got a generally positive reception from investors as its shares touched the $2 mark for the first time since May.... Read more »
The battle for Telecom New Zealand's struggling Australian operation, AAPT, was fought among a clutch of telecoms heavyweights.... Read more »
Unitholders in the $191.2 million listed National Property Trust voted overwhelmingly in favour of major restructuring yesterday.... Read more »
The Serious Fraud Office (SFO) has decided there are sufficient grounds to continue its investigation into the Hubbards, which began on June 21.... Read more »
The Exposing Unacceptable Financial Activities (Eufa) group is holding a public meeting in Timaru next Friday to discuss issues surrounding the statutory management of Timaru businessman Allan Hubbard.... Read more »
Prime Minister John Key believes Maori businesses can capitalise on the major world sporting events New Zealand will host over the next 18 months.... Read more »
New Zealand's residential property sector remained subdued last month with permits for new construction edging up from a slump in May, while commercial property extended its decline... Read more »
Millions of dollars worth of prime Wellington real estate has been put on the market by celebrity property developer Terry Serepisos.... Read more »
Heritage Gold will be part of a new float to mine cobalt at Pyrites Hill, Thackaringa, near Broken Hill in outback New South Wales, the ASX and NZX-listed Australasian mining company said... Read more »
Kiwi cyber-security firm Endace will spend its newly announced $4.4 million TechNZ technology grant to hone products that help financial markets traders gain precious micro-seconds by ensuring their systems run at maximum efficiency... Read more »
Start-up electricity retailer Pulse Utilities is changing tack to offer cut-price power under a new brand, Just Energy, which will not use Pulse's smart meter technology... Read more »
PGG Wrightson (PGW) has halted negotiations on internalising NZ Farming Systems Uruguay's management contract pending the outcome of Singapore-based Olam's 55 cents a share takeover offer which values the Uruguay company at $134.3 million... Read more »
Inflation and tax changes are coming to the rescue of landlords.... Read more »
Low milk prices at the peak of Livestock Improvement's peak season pushed underlying net earnings for the genetic materials firm down 43% to $9.13 million in the year to May 31, the NZAX-listed company announced... Read more »
Fonterra said it is concerned about protests in India over imports of New Zealand dairy products and is consulting with the Ministry of Foreign Affairs & Trade over the issue... Read more »
Silver Fern Farms, the Dunedin-headquartered meat processing and marketing cooperative, is to close its frozen meat processing plant, Brooks, in Norwich, England... Read more »
Cynotech Holdings says it has told NZX it no longer wants to be listed on its exchange... Read more »
Apple's iPhone 4 has finally gone on sale in New Zealand after a spectacular launch fail... Read more »
Expat marketing and IT millionaire Tim Williams is building one of New Zealand's biggest and most expensive houses.... Read more »
Fran O'Sullivan. Prime Minister John Key and Council of Trade Unions boss Helen Kelly are both experienced brinksmanship players... Read more »
Brian Gaynor. Migration and population growth are leading issues of debate during the Australian general election campaign.... Read more »
NZ Market Report. New Zealand shares rose for the third straight day as optimism the globe will avoid a double-dip recession. Shares including Freightways and Pumpkin Patch led the advance... Read more »
Top New Australian Stories
Australian Market Report. The Australian sharemarket fell for a second consecutive day in quiet trading yesterday.... Read more »
Get ready for the deluge - not winter rains, but the annual results from listed companies. The deluge will begin in earnest next week.... Read more »
The war for deposits has prompted Australians to save more than ever, driving the money on call at banks to record levels.... Read more »
Macquarie has sounded an effective profit downgrade by warning that its three largest businesses are unlikely to reach forecasts.... Read more »
Investors in GrainCorp and AWB have been promised substantial synergies will flow from a planned $2 billion merger.... Read more »
The corporate regulator has filed civil proceedings against a former Macquarie fund manager who admitted making millions through insider trading.... Read more »
ASIC says it will slash the time taken to commence insider trading investigations by up to 30 per cent.... Read more »
They are among the country's most successful, wealthiest and admired businessmen: well past retirement age, worth millions and still working.... Read more »
Of all the countries to mount a management takeover of our largest financial institution, New Zealand would be one of the least likely.... Read more »
A last-minute write-down of $170 million against Telstra's problematic Hong Kong mobile phone business appears to have erased group's profit growth.... Read more »
The Australian sharemarket is forecast to rally in the final months of the year.... Read more »
The Australian dollar nudged higher yesterday.... Read more »
The London-based marketing services company which this week made a $363 million offer to buy out media buyer Harold Mitchell said plans over who would succeed the media mogul were a matter of ''high priority''.... Read more »
Self-managed super funds have won major concessions on a key recommendation of the Cooper review covering personal assets.... Read more »
Rio Tinto-owned Energy Resources of Australia has reported an 82 per cent fall in its first-half profit.... Read more »
Two weeks ago, the core posse of Rio Tinto's million-dollar men strode into Australia's striking rust-red pavilion at Shanghai's Expo site.... Read more »
The annual Diggers & Dealers mining conference in Kalgoorlie is famous for many things.... Read more »
Australian house prices have fallen for the first time in 17 months, as rising interest rates and the end of government stimulus payments crimp demand.... Read more »
Australia's wine industry resolved in 2007 to improve profitability by moving away from plonk to high-end wines sold at a premium price.... Read more »
The development and construction industry was another sector of the economy that was relieved to see better inflation figures during the week.... Read more »
China accounted for 5 per cent of new foreign investment in Australia in 2009, despite attracting the lion's share of the media focus on foreign investment proposals.... Read more »
Tensions between Sandfire Resources and OZ Minerals have escalated after Sandfire turned down a request by OZ for a board seat at the copper/gold group.... Read more »
Origin has bulked up its reserves of gas, which the company hopes to export through a massive liquefied natural gas plant in southern Queensland.... Read more »
Virgin Group founder Richard Branson says he can't understand why Australia struggles to sell itself as an attractive tourist destination. After all, he can't think of another country he'd rather visit.... Read more »
Retiring Shell Australia chief Russell Caplan says that the oil major is ready to invest in Australia with or without a resources tax and that the Gorgon fields will underpin the local gas sector for decades to come.... Read more »
Westpac says signs of compromise among prudential regulators on proposed new global liquidity rules are a positive for Australian banks.... Read more »
Earnings from MAp's Brussels Airport investment were whacked by Iceland's volcanic eruption in the first half.... Read more »
Centro Properties Group's refinancing of its $2.7 billion debt, some of which relates to its US operations, indicates the troubled shopping centre owner and landlord is getting back on track.... Read more »
Australand Holdings' interim result was given a positive review by property analysts and set the tone for what is forecast to be a more upbeat reporting season than last year... Read more »
Ross Gittins. Strange things happen in election campaigns. When we learnt this week that consumer prices rose only modestly in the June quarter, the media greeted this as great news for Julia Gillard and even for the Reserve Bank governor, Glenn Stevens.... Read more »
Malcolm Maiden. You could call the GrainCorp-AWB merger one for the patriots... Read more »
Danny John. The three powerhouses of Macquarie Group's annual profits including its expanded global securities business have been hit by a worldwide drop in confidence.... Read more »
Ian Verrender. There was much relief this week when that stalwart of state politics, the elasticised grand dame of the minor courts, Laura Norda, finally made her long-awaited debut as a candidate in the upcoming federal poll.... Read more »
John Durie. Telstra has been forced into another profit downgrade because of its struggling Hong Kong operation.... Read more »
Michael Stutchbury. The election's central blindspot is the need to invest more of our rising national income in development of all kinds... Read more »
Top New International Stories
New Zealand »   Australia »
U.S. Market Report. An updated report of the latest action on Wall Street... Read more »
World Market Report. An updated report of the worlds' latest market movements... Read more »
British Airways on Friday announced a pre-tax loss of 164 million pounds ($US256.5 million) for the three months ending June 30.... Read more »
US economic growth slowed between April and June, with GDP growing by an annualised rate of 2.4%, the US Commerce Department says.... Read more »
The incoming BP chief executive has said it is time to scale back some parts of the oil spill clean-up in the Gulf of Mexico.... Read more »
China has surpassed Japan to become the world's second largest economy, lagging only behind the United States, a Chinese government official said in remarks published on Friday.... Read more »
Crude oil increased, capping its biggest monthly gain since March, as rallies in commodities led by wheat and aluminum took the S&P GSCI Commodity Index to a 12- week high.... Read more »
Airbus parent firm EADS says it is confident about future orders, despite reporting a fall in second-quarter earnings.... Read more »
Samsung Electronics has reported record quarterly profits thanks to increased sales of smartphones and components such as memory chips.... Read more »
Entertainment giant Walt Disney has announced the sale of its Miramax film division for about $US660m to a group of private equity investors.... Read more »
New York Attorney General Andrew Cuomo subpoenaed Genworth Financial Inc., Unum Group and an insurer acquired by France's Axa SA as the state widens a life- insurance fraud probe... Read more »
Spain's unemployment rate rose to 20.09 percent for the second quarter of 2010, up from 20.05 percent from the previous quarter, Spain's National Statistics Institute said Friday.... Read more »
Facebook Inc. will probably put off its initial public offering until 2012, giving Chief Executive Officer Mark Zuckerberg more time to gain users and boost sales, three people familiar with the matter said.... Read more »
The world's largest toothpaste maker reported disappointing sales Thursday, and who's to blame? None other than the country of Venezuela, the company said.... Read more »
Northwest Airlines will plead guilty and pay a $US38m fine for fixing air-cargo prices, the US justice department says.... Read more »
Paul La Monica. The US economy is heading nowhere fast. That's the bad news. But the good news is that it still seems like consumers may have actually learned a lesson or two about reckless fiscal behavior.... Read more »
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