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Rio Tinto to cut iron ore output 10%
Rio Tinto Group, the World’s No. 2 exporter of iron ore, plans to cut production from its Australian mines because of waning demand from steelmakers in C
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Smiths City first-half profit slumped as sales fell
Smiths City Group, the Christchurch-based retailer, said first-half profit was “substantially down” on the previous year as tough trading conditions hurt sales
NAB to raise $2b in share placement
National Australia Bank, that nation’s biggest lender, plans to raise A$2 billion in a share placement to institutions to strengthen its balance sheet after posting an 11% drop in full year profit.
New Zealand’s unemployment rate rose to a five-year high in the third quarter as the weakening economy trimmed demand for workers
The Republican presidential candidate has built his reputation on surviving mistreatment as a prisoner of war in Vietnam. But his former jailers say he was not tortured — and that he was not a hero.
Ashley Todd, the 20-year-old McCain campaigner, who claimed to have been mugged by a black man at an ATM, has recanted her story.
Originally, she wove a colorful tale about a mugger who became infuriated after spying a McCain sticker on her car, and...
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Following the attempt of the directors of the energy company Contact to have their fees doubled in these hard financial times, FundSource has displayed the same extraordinary insensitivity by naming ING 2008 Fund Manager of the Year, despite the...
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Kiwi Dollar hits six-year low vs. yen as investors fly to safety
The New Zealand dollar fell to a six-year low against the yen as investors exited higher yielding, or riskier assets funded with Japan’s currency amid signs the credit contagion is...
The yen rose to a six-year high against the euro and advanced against the US dollar as slumping stocks and financial turmoil worldwide spurred investors to reduce holdings of assets funded with loans in Japan’s currency
New Zealand stocks tumbled for the second day, pushing the NZX 50 down 2.9%, as widening concern about a global economic slump drove down share prices from Tokyo to New York.
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