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ASB Securities Morning Brief for Monday, 16 April 2012

New Zealand Headlines

NZ Market Report. NZ stocks were basically flat Friday, with influential Chinese GDP data released in the afternoon weaker than expected... Read more

The NZ dollar will hit a peak of about US90 cents by next March, according to ASB forecasts... Read more

Progress on transtasman dividend imputation looks unlikely as New Zealand and Australia continue to bunker down against chill global economic winds... Read more

The Government is failing to check whether foreign land buyers are providing a benefit to NZ, new information shows... Read more

China's fourth-ranked leader, Jia Qinglin, is calling on New Zealand to provide a policy environment to make Chinese investment here easier... Read more

Higher tobacco, fuel and food prices will have pushed inflation up in the three months ending March 31 but annual inflation will edge down, economists say... Read more

Hanover Finance’s investment material painted a picture much rosier than the true state of the books, according to the Financial Markets Authority’s ammunition for civil proceedings... Read more

Auckland companies are missing out on vital revenue as a result of not having their own websites, new research suggests... Read more

Hamilton global pioneering goat milk company Dairy Goat Co-operative is anticipating big export growth after a major breakthrough with the European Food Safety Authority... Read more

One of the country's top real estate agents will not be punished despite a disciplinary body finding that he operated a website with his former firm's branding after switching to a new company... Read more

A Wellington-inspired joint coffee venture is making inroads in China... Read more

The founder of a mobile marketing company that has closed its New Zealand operations says the move is a natural step because the country has insufficient resources for it to stay permanently... Read more

New Zealand's best property investments are to be found outside the two biggest cities, investment experts say... Read more

A Wellington family has turned sweet inspiration and a surplus of honey into a buzzing business start-up... Read more

A firm that fired an employee by email and failed to attend any Employment Relations Authority hearings on the resulting complaints, has been ordered to pay almost $17,000 compensation... Read more

The Seriously Good Chocolate Company will shift to a new premises as it consolidates expansion plans to export out of Invercargill.... Read more

Australian Headlines

Australian Market Report. The Australian share market is expected to open lower on Monday, following the lead of weaker markets in the United States... Read more

Westpac will make a play for a bigger slice of the market in deposits, small-to-medium business lending and wealth management as a strategy to deliver revenue growth... Read more

Steel producer and iron ore miner OneSteel says it is not looking to "grow" its steel business but believes the business will be an important generator of cash... Read more

State and territory leaders have agreed to support the Federal Government's changes to funding for training skilled workers... Read more

New South Wales Premier Barry O'Farrell says the Federal Government should look at improving the capacity of Sydney's existing airport before worrying about building a second one... Read more

The corporate watchdog is stepping up its scrutiny of advertisements for financial services in regional Australia, including mining boom towns, in a bid to weed out unscrupulous operators... Read more

Australia will have to import Asian workers and the agricultural sector will be drained of knowledge as half of the nation's farmers prepare to retire in the next decade, a report has warned... Read more

Australia's black economy could be worth $300 billion a year, or 15 per cent of the nation's gross domestic product, according to new research... Read more

To his friends and supporters, the secretive Australian inventor and entrepreneur Kia Silverbrook is a genius, possibly the most prolific patent holder in the world who stands alongside the likes of Thomas Edison... Read more

Tasmania's Premier Lara Giddings has refused to concede Tasmania is in recession... Read more

Tasmania's main housing body has blamed the sluggish economy for the state's low rate of population growth... Read more

A group representing Queensland's most vulnerable is urging the government to review assistance programs as electricity bills rise... Read more

A case brought by the corporate regulator over the collapse of Storm Financial is shaping up as a battle over how far consumer laws protect bank customers... Read more

The Greens under former leader Bob Brown could have done a better job of selling their economic vision for Australia, according to the woman who replaced him in the top job... Read more

Brutal hours, drugs and family pressures are forcing miners to quit "prison camp" culture at sites, unions say... Read more

The private equity firm KKR plans to combine the diamond assetsRio Tinto and BHP Billiton are seeking to sell, according to press reports in Britain... Read more

West Australian Opposition Leader Mark McGowan has not given up on getting the state a better share of the GST distribution... Read more

Hastie Group has taken legal action in Dubai to try to stop a client cashing in more than $6 million of construction bonds after a payments dispute between the two companies escalated at the end of last week... Read more

Consumers are at risk until all genetically modified ingredients are listed on every food label, independent Senator Nick Xenophon says... Read more

The Sunshine Coast hinterland hamlet of Cooroy is battling one of the world's most powerful companies for ownership of the town's natural spring... Read more

Small business owners who want to get the best price when they sell should start preparing for the sale years in advance, experts say... Read more

They said we'd never take to it, that our happy little Vegemites played outdoors, but this week Lego marks 50 years since its humble little bricks arrived in Australia... Read more

International Headlines

US Market Report. After suffering their worst two weeks of the year, stocks will look to quarterly earnings to determine whether the recent pullback has been exhausted or more losses are justified... Read more

World Market Report. An updated report of the world's latest market movements... Read more

China loosens its currency controls in a move that may spur gains in the value of the yuan... Read more

The US will make a profit from bailing out the nation's banks and carmakers at the height of the financial crisis, the Treasury says... Read more

Swiss bank Credit Suisse could announce the loss of up to 5,000 jobs in its investment banking business at its forthcoming first-quarter results, a Swiss newspaper reported... Read more

European officials travel to Washington this week seeking a larger global war chest to combat the two-year debt crisis as the Spanish government battles to quell renewed market turmoil over its finances... Read more

The U.S. Federal Communications Commission is seeking a $25,000 fine from Google Inc. for not cooperating with an investigation of the company’s collection of personal data from wireless networks... Read more

Virgin Atlantic is to appeal the European Commission's decision to allow the owner of British Airways to buy the airline BMI... Read more

Colombia's Jose Antonio Ocampo pulls out of the race to be the next World Bank president, calling the selection process a "political exercise"... Read more

Tesco, the UK's biggest retail chain, will report a multibillion-pound profit this week. But analysts will be more interested in the budget for rejuvenating its threadbare UK business... Read more

Sony once wowed the world with the Walkman and the Trinitron TV. But its fortunes have taken a sharp turn amid disruptive new technologies and unforeseen rivals... Read more

Dutch bankers and insurers will have to pledge an oath to put their clients’ interests first in a government bid to improve confidence in the financial sector... Read more

Oversea-Chinese Banking Corp's Samuel Tsien, who became chief executive officer of Southeast Asia’s second-largest lender yesterday, aims to boost the company’s revenue from China and Indonesia.... Read more

In countries hardest hit by the downturn, including Ireland and Italy, small-business men and entrepreneurs are increasingly taking their own lives... Read more

Bayer AG, Germany’s largest drugmaker, will pay at least $110 million to settle about 500 lawsuits over claims that its Yasmin line of birth-control pills caused blood clots, in the first resolution of cases over the product, people familiar with the agreements said... Read more

Switzerland will allow banks to hand over the names of any employees and other third parties who helped wealthy Americans evade taxes to U.S. prosecutors, a Swiss newspaper reported... Read more

Vornado Realty Trust, facing criticism from investors over its lackluster share price, said it is mulling an array of options including selling its stake in Toys R Us, buying back shares, and even breaking up the real estate investment trust... Read more

“The Hunger Games” led the U.S. box office for a fourth consecutive weekend, becoming the first film since 2009’s “Avatar” to accomplish that feat... Read more

Would you bulletproof a Kia? If you live in Brazil, the answer could very well be yes - to guard against robbers at stop signs in Sao Paulo or traffic jams in Brasilia... Read more

Negotiators headed off a strike of 29,000 Norwegian industrial workers on Sunday with a "moderate" wage-and-benefits hike that could set the tone for other labor talks this spring across the oil-rich economy... Read more

Goldman Sachs boss Lloyd Blankfein has fallen on hard times. As the bank's share price tumbled last year, Blankfein took a 35% pay cut – to $12m... Read more

CSR Corp, China’s biggest trainmaker, said it’s in talks on possible acquisitions in Europe, North America and Australia as it seeks to add new technology and pare a reliance on domestic sales... Read more

Important Disclaimer - The views expressed herein are those of the authors and are based on information believed but not warranted to be correct. Any views or information, whilst given in good faith, are not necessarily the views of ASB Bank Limited and are given with an express disclaimer of responsibility and no right of action shall arise against any of the authors, ASB Bank Limited or its employees either directly or indirectly out of any views, advice or information.
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