If you are having difficulty seeing this email, you can view it online here.
Email ASB 0800 803 804
ASB Securities Morning Brief for Saturday, 19 March 2011

New Zealand Headlines

Fear has stalked international markets this week as the world tries to get to grips with the devastation in Japan - the latest in a succession of events including earthquakes, revolutions, floods and droughts... Read more

Andrew Beal, who manages the Henderson TR Pacific investment provides some views on what the events unfolding in Japan mean for investors.... Read more

Kiwisaver schemes could be affected as the impact of the Japanese earthquake is felt in global financial markets... Read more

Since the February 22 quake central Christchurch retailers have been left wondering not just where to from here, but when.... Read more

The Christchurch earthquakes have thrown the spotlight back on skills shortages. The solution might be less about imploring workers to stay and more about upskilling... Read more

Air NZ says the flight attendants' union FARSA is demanding the airline urgently cancels all flights from Tokyo.... Read more

The Securities Commission has made orders against limited partnerships associated with Bernard Whimp... Read more

Insolvency experts Ferrier Hodgson now have until late September to come up with solutions for the creditors of the troubled Australasian retailer REDgroup, whose assets include book chains Whitcoulls and Borders... Read more

The cost of the Whitcoulls, Borders and Bennetts administration is set to soar after the companies' Australian administrator delayed the date for a second creditors meeting for six months... Read more

A Government watchdog has warned of a "highly critical" security breach affecting devices used to protect internet banking transactions and workplace networks... Read more

The Commerce Commission has reached settlements with three international airlines charged in a major cartel proceeding, ahead of the first hearing in the case due in May... Read more

Job losses are possible at New Zealand Post and Kiwibank.... Read more

Tapware maker Methven issued a profit downgrade, citing a range of factors, including the Christchurch earthquake... Read more

Telstra Clear says the Government should not build its proposed ultrafast broadband network in large cities, as they already have access to "UFB-like" services... Read more

Orchardists have begun picking gold kiwifruit this week and early indications are that the 2011 season's fruit volumes will be similar to last year, with around 100 million trays of kiwifruit expected to be exported... Read more

The New Zealand dollar spiked higher in early afternoon trading as the US dollar surged against the yen on news that the Group of Seven (G7) has agreed on joint intervention to stem a rise in the yen after the Japanese earthquake... Read more

A shake-up of Lotto, including new advertising, is thought to have contributed to a rise in first half sales and profit at NZ Lotteries.... Read more

BurgerFuel Worldwide has announced it is to open a site in the world's largest shopping centre - the Dubai Mall.... Read more

Liam Dann. Lunchtime on February 22 is still less than a month ago but already seems like another world away... Read more

Brian Gaynor. The latest earthquakes in New Zealand and Japan are an unfortunate reminder that the two countries are particularly vulnerable to major natural disasters... Read more

Jamie Gray. In just four weeks, Air New Zealand's earnings outlook has turned to custard... Read more

Daily Sharechat. Although The Warehouse Group's adjusted $53 million first-half net profit was in line with his $52.7 million forecast, the "red sheds" earnings before interest and tax were $2 million above his forecast at $74 million while the stationery division's EBIT was slightly below his forecast at $3.7 million, says Guy Hallwright at Forsyth Barr... Read more

NZ Market Report. The New Zealand sharemarket closed higher today but below the best levels of the day as international markets continued to gyrate... Read more

Australian Headlines

Australian Market Report. The Australian sharemarket hit a four-day high yesterday as Japan's nuclear crisis appeared to be stabilising... Read more

The Australian Competition & Consumer Commission and its chairman Graeme Samuel were dealt a hammer blow yesterday when sensational revelations were aired that Mr Samuel attended a secret meeting with Woolworths executives in December, where a plan to buy Franklins was discussed... Read more

An extraordinary rescue mission by the Group of Seven to save the Japanese yen prompted a dramatic turnaround on global financial markets yesterday... Read more

The catastrophes afflicting Japan will push back the already delayed recovery of the Western economies from the global financial crisis... Read more

Insurance industry veteran Frank O'Halloran sounded a warning in the profit reporting season after reciting the litany of catastrophe claims... Read more

News Corporation is being sued by two of its shareholders who claim Rupert Murdoch is treating the business like a "family candy store" in his decision to buy daughter Elisabeth's television production company... Read more

The bid by the Singapore stock exchange to take over the Australian Securities Exchange is set to fail, with the Federal government highly unlikely to give its blessing and the Nationals about to start a public campaign to block the merger... Read more

Qantas has closed the door on a dark period in its recent history after reaching a settlement to pay its fifth fine for illegally fixing prices in its freight operations.... Read more

Air New Zealand has come out swinging after Qantas said it was helping the NZCC prosecute it for alleged freight price-fixing... Read more

The earthquake and tsunami that rocked Japan have wiped out the nuclear power debate in Australia and trashed a $1.2 billion deal... Read more

ANZ's fledgling Asian-based operations will generate nearly a third of group profits by 2017.... Read more

ANZ chief executive Mike Smith and Pankaj Oswal gazed down at one of the world's biggest ammonia plants on a remote patch of red dirt... Read more

Delays are likely to hit the installation of the federal government's national broadband network after the protracted final negotiations between Telstra and NBN Co have forced the telco to push back a key shareholder vote... Read more

Australia has fared poorly in Morningstar's latest global survey... Read more

Origin Energy will move to the second stage of its $2.3 billion capital raising with confidence, after enjoying strong support from institutional shareholders this week... Read more

Economists are forecasting official interest rates will increase just once this year because of the disaster in Japan and Middle East unrest... Read more

The Australian dollar was sharply higher yesterday, strengthened by news that the world's major central banks will co-ordinate action to curb further gains by the yen... Read more

Food safety authorities are monitoring the health risks from imported Japanese food exposed to radiation, although they currently see no cause for alarm... Read more

Australia's peak union body is pushing for a $28 a week increase in the minimum wage, but a major employer group says it is too much... Read more

Tolls for Brisbane's beleagured Clem7 tunnel are to increase less than two months after it went into receivership... Read more

Investors and analysts have called on Telstra to provide more detail on its $11 billion deal to transfer its fixed-line monopoly to the NBN.... Read more

The US Navy has ordered a second vessel, worth $US368.6 million, from Austal under the $US8.8 billion Littoral Combat Ship program... Read more

Arrow Energy has announced it will build a pipeline to carry gas from central Queensland gasfields to the port of Gladstone.... Read more

Talbot Group is planning to sell all its investments and has sold a $190.9 million stake in iron ore explorer Sundance Resources.... Read more

Shares in Atlantic rose after the company lifted its global resource estimate by 19 per cent to 210 million tonnes on positive results from its resource definition drilling at its Windimurra vanadium project.... Read more

Rising petrol prices, higher school fees, no wonder consumers have retreated to the safety of their homes and stopped spending.... Read more

Racing fans may love it, but Melbourne's grand prix is not a formula for financial success.... Read more

Gold Coast property players fear a marked downturn in activity as the Japanese disaster and nuclear crisis continues to unfold... Read more

A battle has erupted over the will of Brisbane mining magnate Ken Talbot, with claims his two youngest children weren't "adequately provided for"... Read more

There are a million extra reasons to plan a Queensland holiday, with a cashed-up campaign launched to kickstart the state's tourism industry... Read more

Ian Verrender. Tokyo's post-disaster bid for economic survival could have aftershocks for the world... Read more

Ross Gittins. If economists wore T-shirts what they'd say is PRICES MAKE THE WORLD GO ROUND. Conventional economists are obsessed by prices... Read more

Malcolm Maiden. ANZ chief executive Mike Smith is obviously enjoying Australia, and the challenge he set for himself and the bank in December 2007 when he said ANZ could lift its share of earnings sourced from Asia from 7 per cent to 20 per cent by 2012... Read more

Eric Johnston. Asia Mark II, unveiled by Mike Smith yesterday, was much like the first instalment, only the profit hurdles have been shifted much higher and with the RBS Asian acquisition under his belt, the strategy has been narrowed to focus more on offering transactions for business across the region while tapping trade and investment flows... Read more

Paddy Manning. It's not a bad thing to have a blowtorch applied to the belly: at last we're getting some sense out of the government on pricing carbon... Read more

International Headlines

U.S. Market Report. An updated report of the latest action on Wall Street... Read more

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

U.S. stocks rallied at Friday's open as news of an immediate cease fire in Libya gave traders one less international crisis to worry about... Read more

Oil prices have fluctuated on Friday after the United Nations authorised a no-fly zone over Libya... Read more

Leading central banks carry out the first co-ordinated currency intervention for a decade, to try to help the yen and the Japanese economy... Read more

The Bank of Japan is likely to act “forcefully” and “persistently” in preventing the yen from trading stronger than 80 against the dollar, according to Nomura Holdings Inc., Japan’s biggest brokerage... Read more

Goldman Sachs Group Inc will buy back $5 billion of preferred stock from Warren Buffett, ending a costly deal that had helped shore up confidence in the bank at the height of the financial crisis... Read more

While experts say there is little danger of contaminated food or manufactured products entering the United States from Japan, such fears could hurt Japanese exports.... Read more

Multinational companies in several sectors are warning of supply-chain disruptions, after the earthquake, tsunami and nuclear crisis in Japan... Read more

France called for clear signals on job protection after U.S. group General Mills Inc entered into exclusive talks to buy half of cherished yoghurt brand Yoplait.... Read more

China ordered banks to set aside more cash for the third time this year, judging that inflation remains a bigger threat to the world’s second-largest economy than Japan’s earthquake and nuclear crisis... Read more

A former Goldman Sachs Group Inc director accused of leaking confidential boardroom information has sued U.S. regulators, saying they are trying to unfairly deprive him of a jury trial... Read more

A former Goldman Sachs Group Inc computer programer was sentenced to eight years in prison on Friday for stealing secret code used in the Wall Street bank's valuable high-frequency trading system... Read more

Computer giant IBM agrees to pay $US10m in an out of court settlement of bribery allegations... Read more

Nissan Motor Co., Japan’s third- largest carmaker, is in talks to buy more than 25 percent of OAO AvtoVAZ to secure control of the Russian carmaker with partner Renault SA... Read more

Johnson & Johnson Chief Executive Officer William Weldon said he has “no plans right now” to retire and is focused on fixing manufacturing problems that led the company to recall more than 40 consumer brands last year... Read more

Bristol-Myers Squibb Co. bribed doctors to prescribe the pharmaceutical company’s drugs, according to a whistle-blower lawsuit being pursued by the California insurance commissioner... Read more

The US central bank notifies some of the country's banks that they have passed stress tests, leading to higher dividends... 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.
Security Reminder
ASB will never ask you by email for your secure banking information (account or credit card details, password, PIN number or NetCode details) or ask you to Log in to your account from an email. ASB will always ask you to Log in through our website and you should do so by typing www.asb.co.nz directly into your browser address bar. If you are concerned about an email's authenticity, please contact us directly on 0800 327 863 or forward the email to phishing@asb.co.nz

Stop receiving emails

Unsubscribe from
ASB emails


Read more about the safe and secure service ASB provides to its customers

Privacy Policy

See how ASB safeguards your personal and financial information

Terms & Conditions

The terms & conditions of our products and services
© ASB Bank Ltd. 2013