Latest market news
NZ residential property sales normalise
February residential property sales were back to 2009 levels after reaching in January their lowest point for two decades, says the Real Estate Institute of NZ.ACCC delays decision on AXA APH takeover
Australia's competition watchdog has delayed a decision on two competing bids for AXA Asia Pacific Holdings Ltd.WorleyParsons wins North Sea contract
Engineering firm WorleyParsons has won its first major offshore platform contract at a project in the North Sea between Europe and the United Kingdom.Mitre 10 shareholders say yes to Metcash
Shareholders in hardware firm Mitre 10 Group have voted in favour of grocery wholesaler Metcash Ltd taking a 50.1 per cent stake in Mitre 10 for $55 million.PIPE Networks cleared to sell for $373m
Shareholders in telecoms infrastructure firm PIPE Networks Ltd have voted to accept a $373.09m takeover by TPG Telecom Ltd.Fortescue expansion plans to cost $9.7b
Iron ore producer Fortescue Metals Group has raised the production target at its planned 3rd mine and put a $9.71b price tag on a two-stage operation.AOFM issues bonds for March
The Australian Office of Financial Management (AOFM) is to hold tenders for the issue of a number of Commonwealth Government Securities in March.A$ hits 13-year high against euro
The fallout from Greece's debt woes have helped propel the Australian dollar to a 13-year high against the euro, experts say.Sumitomo opens offer for Nufarm stake
Japan's Sumitomo Chemical on Friday opened its tender offer for 20% of the shares in agricultural chemicals firm Nufarm Ltd at $14.00 per share.Strategic Finance in NZ in receivership
Specialist property financier New Zealand Strategic Finance Ltd is now in the hands of receivers.Lend Lease WTC class action settled
Property developer Lend Lease said a US class action against a subsidiary filed by workers on the World Trade Center clean-up site in New York had been settled.NZ retail sales up 0.8% in January
Seasonally adjusted total retail sales rose by 0.8 per cent or $A32.16m in January, pulled ahead by sales of automotive fuel and of vehicles.Citigroup says bank on path to profit
Citigroup is poised to return to "sustained profitability" as it sheds risky assets and focuses on emerging markets, CEO Vikram Pandit said on Thursday.Greater to offer lower-rate home loans
The Greater Building Society says it will begin providing home loans at a lower rate than the big four banks, as it seeks to lure away regional customers.FIRB approves Macarthur takeover
Australian officials have cleared Macarthur Coal's planned takeover of Gloucester Coal, which would see Singapore's Noble Group take a 24.6% stake in Macarthur.Starpharma sees positive safety results
Biotech Starpharma Holdings Ltd says the first trial of its VivaGel vaginal microbicide in sexually-active women has shown Vivagel to be safe.Credit, debit card transaction fall 22%
The total value of credit and charge card transactions, including advances, fell by 22 per cent in January, RBA figures released show.Fonterra to close Longburn cheese plant
Fonterra plans to stop making cheese at its Longburn plant near Palmerston North, and says other jobs at the site will only be available for some workers.Natural peril costs exceed budget: IAG
Insurance Australia Group Ltd says natural peril costs will exceed its budgeted allowance for the second half after the severe weather in Victoria.Cape lambert shares jump after sale
Shares in Cape Lambert Resources jumped more than 10 per cent after the resources and investment company sold a copper project for $135 million.CBH enters trading halt on takeover bid
Shares in zinc, lead and silver miner CBH Resources have gone into a trading halt after the company received a takeover proposal.Exxon Mobil predicts $30b spend in 2010
Exxon Mobil said it will boost spending this year on new and existing projects even as some rivals pull back because of weak global demand for energy.US mulls more vehicle safety authority
US government vehicle regulators may seek greater authority to investigate defects in cars and trucks in response to Toyota's mass recall.NZ kiwifruit growers expect bumper crop
Kiwifruit growers could be in for another bumper season after a successful 2009 crop.EU steel makers complain of iron prices
European steel makers warned on Thursday that big iron ore price increases could slow the region's fragile economic recovery.US trade deficit shrinks as imports drop
The US trade deficit unexpectedly shrank in January, reflecting a big drop in imports of oil and foreign cars.Brazil GDP fell 0.2% in 2009: official
Brazil's GDP fell 0.2 per cent last year, its worst performance since 1992, despite strong 4.3 per cent growth in the fourth quarter, officials said.Warehouse lifts H1 profit 17%
Retailer The Warehouse lifted half year net profit 17.3 per cent to $NZ57.4 million ($A44.08 million) as a recovery in overall retail spending remains "patchy".Airlines set for Asian recovery: IATA
The global airline industry is heading for far better results this year than expected because of recovery in Asian and Latin American markets, IATA said.Obama issues new call on China over yuan
US President Barack Obama issued a fresh call to China to embrace a "market oriented" exchange rate, saying such a move would help rebalance the global economy.VW confirms 2009 net income fell 80%
Volkswagen says its 2009 net income declined 80 per cent to 960 million euros ($A1.43 billion), confirming its preliminary estimate released in February.BMW posts poor 2009 results
German luxury car maker BMW on reported a 36.4 per cent drop in 2009 net profit but also issued an upbeat 2010 forecast.World airlines see blue skies ahead
Global airlines are undergoing a surprisingly strong recovery with Asian and Latin American carriers leading the way, the leading industry group said.ANZ wins 'worst transnational' prize
Australian bank ANZ is this year's winner of the Roger Award for the "worst transnational corporation" operating in New Zealand.BP to pay $A7.6b for Devon Energy assets
British oil giant BP said it will pay US firm Devon Energy $US7 billion ($A7.66 billion) for assets in Brazil, Azerbaijan and the Gulf of Mexico.Gujarat to spend $500m on its NSW mines
Indian-owned coal producer Gujarat NRE Coking Coal Ltd plans to spend $500m expanding its two mines in the Illawarra region of NSW over the next five years.Coal prices set to rise amid confusion
Coal prices are tipped to rise in coming months amid constrained supply and ongoing Chinese demand.Hobart, N Qld head best property markets
Hobart and the sleepy regional north Queensland town of Silkwood were among the best performing property markets over the past decade, research found.Seven appoints CFO of media assets
Seven Network Ltd has appointed one of its executives to the position of chief financial officer of its media assets.Greece hit by strike over austerity plan
Debt-plagued Greece faces a new wave of labour discontent against painful spending cuts, with a nationwide strike closing hospitals and schools.Perth's broadband blackspots 'to go'
Perth's wireless broadband blackspots will be eliminated when Vivid Wireless launches the 4G wireless broadband network, its chairman Ryan Stokes says.Call to include super in parental scheme
The retirement savings gap for women will be reduced if superannuation is included as part of any paid parental leave, research finds.China inflation accelerates in February
China's inflation spiked higher in February, adding to pressure on Beijing to prevent overheating and keep China's recovery on track.Seven shareholders 'warming to merger'
Seven Network shareholders are warming to Kerry Stokes' $3 billion push to merge the television group with WesTrac, the media mogul's right-hand man says.Funtastic wins outdoor toy of the year
Toy maker and children's product company Funtastic Ltd says it has scooped an outdoor toy of the year award for the Razor Sole Skate.SBY urges Aussie businesses to invest
Indonesia's president is urging Australia's entrepreneurs to invest in their Asian neighbour, saying there's huge potential to boost business links.Centro Retail appoints Tsenin as CEO
Centro Retail Trust (CER) has appointed Robert Tsenin as its new chief executive, following the departure of Glenn Rufrano.CBio gets $1 million milestone payment
CBio has received a $1 million milestone payment from global pharmaceutical firm Novo Nordisk in relation to the development of CBio's drug, XToll.Media need multiple platforms: execs
Multiple platforms and revenue streams are going to be key for media industry players hoping to thrive in the changing digital landscape, media executives say.Jobless rate edges up in February
The jobless rate edged up to 5.3 per cent in February from a downwardly revised 5.2 per cent in January, with the number of people employed barely rising.Tiger reports rise in passenger numbers
Tiger Airways Holdings Ltd has reported strong growth in passenger numbers and an improvement in load factors for February.Credit Suisse prices $1.1b of 4-yr bonds
Credit Suisse has priced its inaugural Australian bond sale, with the issue of $1.1 billion of four year notes.Centrebet defends takeover talk
Centrebet International says it first become aware of takeover proposals in February but did not tell the market until this week for reasons of confidentiality.Cooper Energy hampered by flooding
Cooper Energy says flooding in the Cooper Basin is likely to have an impact on its South Australian operations as roads are cut off and oil fields are isolated.Iron ore and coal exports rise
Australia's exports of iron ore and coal rose to record levels in the December quarter buoyed by strong demand from Japan, Korea and China.Price pressure fears flat: survey
Consumer inflationary expectations were flat in March, but signs of economic growth meant the proportion of people who expect prices to remain stable declined.IiNet goes into trading halt
iiNet Ltd shares have gone into a trading halt as Australia's third biggest ISP prepares a response to a newspaper report saying the company is to buy a rival.Mexican Carlos Slim tops world rich list
Forbes magazine has announced the world's richest man is now Mexican mobile phone mogul Carlos Slim.Leighton wins $463m HK rail contract
Leighton Holdings Ltd has won a $463 million contract to construct part of an express rail link between Hong Kong and mainland China.Myer first-half profit falls 74%
Myer Holdings Ltd's first-half profit declined 74.4 per cent as the store owner says it remains cautious about the outlook for the second half of fiscal 2010.
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