Risk in the Media - Archive

Hundreds of millions of kiwifruit dollars at risk
nzherald.co.nz
8 November 2010

Orchardists growing gold kiwifruit may have had their hopes of bonanza returns this season dashed as they wait on scientific confirmation that a vine-killing bacteria - which hits gold kiwifruit particularly hard - has established in New Zealand. More...

Bollard's view on high kiwi dollar endorsed
stuff.co.nz
13 November 2010

Reserve Bank governor Alan Bollard last week described New Zealand's economic recovery as "tepid", saying it was at risk from the high kiwi dollar.

In the bank's twice-yearly Financial Stability Report, released on Wednesday, Dr Bollard said a sustained rebalancing of the economy towards the tradeable (export) sector would be difficult as long as the kiwi remained relatively high, flirting with US80c at times. More...

New Zealand Dollar is at the Front of the Line for a Risk Trend Reversal
dailyfx.com
13 November 2010

There is a build wave just over the horizon. Risk appetite trends have been coasting with relatively little interruption over the past few months; and the New Zealand dollar has certainly enjoyed the trend. However, fundamental stability is starting to show cracks in different areas across the globe; and the threat of a major collapse in investor sentiment is rising. In the ensuing turmoil that would follow such a shift, there would be a two phase reaction. The first effect would be a panic-like move that would harshly draw a line between those assets that are considered safe havens and those seen as risky with very few securities falling into the former category. In the second stage, after the sense of panic has eased, traders will be more democratic with their assessment of ‘good’ investments. For the kiwi, the panicked stage will have a very clear impact. However, even in the fallout with calmer seas, the currency may still fail to gain significant traction. More...

'Poorly designed' bill could force NZX overseas
stuff.co.nz
14 November 2010

Lawmakers are under fire from a phalanx of business heavyweights who say draft legislation aimed at reforming New Zealand's financial markets is unbalanced and even dangerous.

Worse, many of those now crying foul were on the Capital Markets Taskforce the government established to steer its reform agenda.

Rob Cameron, of investment bankers Cameron and Partners, said the draft legislation has departed from the spirit of the reforms, which were aimed not just at protecting investors, but at delivering improved access to capital markets for business. More...

US market says “No Entry” to meat
scoop.co.nz
15 November 2010

The New Zealand Public Service Association (NZPSA) has learned that the United States (US) is not accepting New Zealand meat from trials where meat companies are carrying out inspection tasks normally done by independent government meat inspectors.

A six-month-long trial started today at the Affco Imlay meat plant with others set to begin shortly at the Alliance Mataura plant and Silver Fern Farms Pareora. More...

Climate costs worry grows
nzherald.co.nz
15 November 2010

New Zealanders want action on climate change, but don't want to pay too much for it, a survey has found.

This year's climate change survey, released by rural business advocates the Greenhouse Policy Coalition, found 38 per cent of respondents opposed providing carbon credits to businesses, compared with 51.8 per cent last year. More...

Small firms at higher risk of failure during recovery outset, says ANZ
stuff.co.nz
15 November 2010

Small businesses that have survived the recession face a greater risk of failure during the recovery as they look to grow again, ANZ commercial managing director Graham Turley says.

International research showed that more firms failed at the start of a recovery than during a recession, "and one of the main reasons for this was they ran out of cash" trying to meet increased demand.

As demand slowed during the downturn, businesses tended to use their working capital, including cash and overdraft facilities, to keep the business going. More...

Kiwifruit grower support top priority
stuff.co.nz
15 November 2010

A support package for kiwifruit growers whose orchards have been struck by a potentially lethal bacteria disease will be at the top of the agenda at a meeting tomorrow between Agriculture Minister David Carter and industry leaders.

Kiwifruit Growers president Peter Ombler, who will attend the meeting, was reluctant to elaborate on what is being sought for growers, and it is not yet known how much the Government will expect the $1.5 billion industry, led by export marketer Zespri, to contribute. More...

Market close:  NZ stocks fall on weak risk appetite
scoop.co.nz
16 November 2010

New Zealand stocks fell for the third time in three sessions, as a weaker tone overnight on U.S. markets sapped investor appetite for riskier stocks. AMP Ltd. paced decliners, while Fisher & Paykel Appliances Holdings rose.

The NZX 50 Index fell 13.16 points, or 0.4%, to 3,315.06. Within the index, 25 stocks fell, 10 rose and 15 were unchanged. Turnover was $108.1 million. More...

AMP bid could merge big KiwiSavers
nzherald.co.nz
16 November 2010

Two of New Zealand's largest KiwiSaver providers could become one under a A$13.3 billion ($17 billion) takeover offer.

Insurance and wealth manager AMP yesterday made a new bid to buy AXA Asia Pacific Holdings together with French insurance and wealth giant AXA SA.

The deal would see AXA SA getting the Asia part of the business while AMP would pick up the New Zealand and Australian AXA business.  More...

Painkillers linked to defects in baby boys
Nzherald.co.nz
15 November 2010

New Zealand women have been warned to take care with popular painkillers during pregnancy, after a European study found a link to potential fertility problems in baby boys.

The Danish study found that boys born to women who had used aspirin or ibuprofen (which is often sold as Nurofen in New Zealand) during pregnancy, especially during the fourth to sixth months, were more likely to have undescended testes, a condition known as "cryptorchidism". Paracetamol showed the same trend, but the evidence was weaker. More...

Toxic Tapioca Chips Pulled from Shelves
stuff.co.nz
16 November 2010

Chips that have been found to contain toxins that can release cyanide when digested have been pulled from shelves.

Tapioca chips are an Indian delicacy, but contain a level of natural toxins that is sometimes above New Zealand's standard level of toxins allowed by the Food Safety Authority.

Food suppliers MZ Holdings recalled their Mayur brand of tapioca chips and slices, saying they "might pose a slight health risk". More...

Overcrowding blamed for high rheumatic fever rate
nzherald.co.nz
15 November 2010

Household crowding is being partially blamed for New Zealand having one of the highest rates of acute rheumatic fever (ARF) among children and teenagers in the developed world.

The infectious disease, which can cause chronic rheumatic heart disease through damaged heart valves, is responsible for more than 120 deaths a year. More...

Risk in turning back regulatory clock
nzherald.co.nz
10 November 2010

Bill English's response to New Zealand's third placing in the World Bank's survey of the best countries to do business in was instructive.

While attributing the result in part to the quality of our regulatory frameworks, the finance minister suggested improvement could come from cutting red tape - ie, less regulation. More...

ASB lets customers discuss account details on Facebook
nzherald.co.nz
17 November 2010

ASB Bank has become the first financial services company in the world to run a customer advice service that discusses account details on a social media website.

"Virtual Branch" is part of a big marketing makeover for ASB Bank that includes new print and television commercials - replacing the long-running Goldstein campaign - and new imagery. More...

Many lakes in poor state of health
stuff.co.nz
11 November 2010

Some of the country's filthiest lakes have been revealed – with a report suggesting that as many as a third may be unhealthy.

Environment Minister Nick Smith has used the report to sound a warning that New Zealand's clean, green brand is at risk and says it is unacceptable that more lakes are deteriorating in water quality than are improving.

The Niwa report provides only a snapshot of the country's waterways as it surveys just 112 of New Zealand's 4000 lakes, with only 68 reliably monitored since 2005. More...

NIWA leads hunt
stuff.co.nz
15 November 2010

Divers will scour Wellington Harbour for unwanted pests this week, setting traps for crabs and a starfish already causing problems in Australian waters.

The search will be done as part of a nationwide surveillance programme run by MAF Biosecurity to detect a range of marine pests.

Team manager Brendan Could said high-risk locations were visited every six months in order to detect potentially harmful marine animals early enough to maximise the chances of removing or controlling them.

The National Institute of Water and Atmospheric Research has been contracted to do the survey and two boatloads of staff will start today and work until Friday. More...

Risk of nuclear radiation
Dominion Post
21 October 2010

More...