As per the media reports, an announcement confirming Eftpos Company ProvencoCadmus entering into receivership has been just made by receivership company KordaMentha. The company said Michael Stiassny and Brendon Gibson have been appointed receivers.
It was forwarded by Stiassny that the subsidiary companies have not been placed into receivership, though they have been appointed receivers to ProvencoCadmus.
The New Zealand Manufacturers and Exporters Association (NZMEA) is criticizing the Reserve Bank's decision to keep the Official Cash Rate (OCR) unchanged at 2.5%.
The association holds a viewpoint that the move had successfully postponed further action on New Zealand's economic recovery for six weeks until the next OCR announcement.
As per the media reports, penalty fees on all overdrawn personal and business accounts is being dropped by the Australia-owned bank BNZ, from the beginning of September.
BNZ specified that it will not charge honor fees, dishonor fees and unpaid bill fees on transaction and savings accounts, which range between $5 and $35 every time an account goes into the red.
Manukau's Mayor Len Brown has piped Auckland City Mayor John Banks in a poll aimed to see who Aucklanders would like to lead the new super-city.
Nearly 482 Aucklanders were instructed by the UMR Research poll to make a direct comparison between Mr Banks and Mr Brown.
After the results, it was seen that there were 35% who preferred Mr Brown, and 34% who preferred Mr Banks.
It has been confirmed by John Banks that he will run for the mayoralty, while Len Brown expects to make a decision within a few weeks.
It has appeared that the New Zealand dollar rose near yesterday's 9-1/2-month high against the greenback; however, thereafter it plunged very quickly.
The kiwi was purchasing US65.71c by 8am, from US65.95c at 5pm yesterday. According to data by Reuters, it hiked at US66.26c.
ANZ specified in its morning briefing notes that the positive equity market in the United States inspired moves for the NZ dollar overnight.
But the kiwi failed to break new ground, after which most gains were reversed.
Wednesday saw National Australia Bank (NAB) confirming that with the aim of enhancing its balance sheet as bad debts rise in a tough economic climate, it will raise up to 2.75 billion dollars (2.24 billion US) in a share issue.
It was revealed by NAB - whose bad debts rose to 1.064 billion for the June quarter - that stocks worth two billion dollars would be sold to institutional investors, with up to
750 million dollars' stocks to be offered to small shareholders.
Good News USA
- Vodafone NZ’s new ‘Red Home’ packages will offer UFB and 150 TV channels
- Vodafone NZ’s full-year profit plunged by more than two-thirds to $56 million
- Vodafone adding 34 European countries to ‘AU$5 per day’ international roaming option
- Telstra launches its new ‘Every Day Connect Data Share Packages’
- Voyager signs “multimillion-dollar deal” with submarine cable group Hawaiki