Unemployment to rise in New Zealand

Unemployment

Recent reports by most of economists have predicted that New Zealand’s unemployment would increase pat 5% this week; and thus the struggling businesses would be affected by the loosening labor market. 

Presently, the rate of unemployment taken from the December quarter is 4.7% and it has been forecasted by economists that number would be as high as 5.3% when the March quarter results come out on Thursday.

Fulton Hogan expands Australian operations

Fulton Hogan

Fulton Hogan, South Island-based road maker is expanding its Australian operations, buying half of Melbourne-based Pioneer Road Services.

The turnover from Fulton Hogan's Australian businesses would be enhanced by more than 25% via the purchase and make its operations on both sides of the Tasman at similar size.

It was expressed by Chief executive Dave Faulkner that the turnover in Australia would rise to nearly $1 billion via this move which will also enhance the number of towns and cities covered by the company.

Chrisco takes on Mrs Christmas' client list

Chrisco

As per media reports, the existing client list of rival Mrs Christmas, which went into liquidation last month, has being taken on by Christmas hamper company Chrisco.

The Mrs. Christmas business has been bought by Chrisco, which would credit all existing customers with the amount they have paid and provide them a similar Chrisco package for the remainder of the year.

Recently, the courier company Post Haste, was not paid and filed for liquidation. The troubles for Mrs Christmas started after the reports came out in media.

Nine arrested after school fight in Lower Hutt

Nine arrested after school fight in Lower Hutt

After a Hutt High School student was attacked on a college sports field, nine people have been arrested.

It should be mentioned here that the three adults and six youth aged 14-17, who were not associated with college and have been charged with unlawful assembly. They will appear in court tomorrow.

Following a series of fights, which broke out just before 3pm, more than a dozen officers arrived at a spot.

During the violent fight, a cut was received by one female student after a rock was thrown at her.

DB Breweries register lower profit

DB Breweries register lower profit

The profit for the December quarter of DB Breweries fell 28 percent.

It has been specified via the financial statements from its owner, Asia Pacific Breweries in Singapore, "Its New Zealand operations made a S$13.2 million (NZ$16.8 million) profit before interest, taxation and exceptional items, a 46 percent drop from the same quarter in 2007."

25 percent devaluation in the New Zealand dollar was included in the fall. The figure equated to a 28 percent fall, excluding the foreign exchange difference.

Hanover Finance asks for extra $2.8m from Krukziener

Hanover Finance asks for extra $2.8m from Krukziener

Troubled property developer Andrew Krukziener, who owes a debt to Hanover Finance even had another $2.82 million added to the debt in Auckland's High Court this morning.

It has been learnt that Hanover which obtained a summary judgment in its favour in 2007, over a debt of $4.159 million relating to a failed joint venture property development is now trying to bankrupt the disturbed developer.

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