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Business and finance in New Zealand, with an emphasis on investment opportunities and movements in the kiwi dollar.
Recent Posts Tagged With 'credit crisis'
The failure to govern
The following passage, from an article entitled Predatory Scapegoating by Patricia J. Williams (The Nation, October 23, 2008) puts the credit crisis/economic meltdown into perspective:...it is not merely a failure to regulate Wall Street; it's a fail...
And still the borrowing continues...
I am exceptional, I think, even for a member of my generation. I have never been in debt. No, I haven't even had a mortgage. When, at the age of 24, I decided I wanted a house, I worked every day for two years at The Japan Times, my principal place o...
We can weather the storm, say Kiwis
Today's stuff.co.nz poll, which asks the question: "Do you think NZ is well placed to cope with the current global credit crisis?", has found (at 9.30pm) that more than 60 percent of New Zealanders think it is.Those who answered "Yes" totalled 406, o...
Yet another finance company fails
And still they fall like ninepins...When Strategic Finance today announced it had suspended redemptions of its secured debenture stock and subordinated notes, it became the 27th finance company in the past two years to either run into difficulty or c...
More pain for investors in property
Where will it end?Today's freeze of a property fund that has nearly $420 million under management, by AMP Capital New Zealand, makes one wonder how many more investors are going to be financially ruined, or at least seriously inconvenienced, by the g...
Reserve Bank cuts rates, but I'm not rejoicing
It wasn't the news I wanted to hear: The Reserve Bank today lowered New Zealand's official interest rates from 8.25 percent to 8 percent.As far as I am concerned, as a greedy oldie, the official rates can never be too high, as high official rates inv...
Hanover Finance bites the dust
What can I say, except that I am really glad I didn't put any of my $400,000+ retirement money into a finance company.No doubt many people felt that Hanover Finance, which today announced it was suspending acceptance of new investments and repayment ...
NZ lending rates could go even higher
Looking forward to lower lending rates in the near future? Don't hold your breath.As the country waits for next week's announcement by the Reserve Bank, which could include a cut in official interest rates, the BNZ is warning that banks' lending rate...
Moratorium out; receivership in
I read an interesting article the other day in which the writer argued that receivership, as opposed to a moratorium on repayments to debenture holders, is preferable when a finance company runs into "funding problems".Louise Edwards, chief executive...
