Another finance company hits wall

A 15th finance company has hit the wall and is asking its debenture holders to vote on a 20-month wind down to stop it from going to the receivers. New Zealand property finance firm MFS Boston, an indirectly owned subsidiary of troubled Australian firm MFS, announced the moratorium proposal yesterday and will hold a meeting […]

Fed can’t stop recession

Even if the central bank starts to cut rates aggressively, many of the risks for the U.S. economy are beyond its reach. By Chris Isidore, CNNMoney.com senior writer September 13 2007: 1:35 PM EDT NEW YORK (CNNMoney.com) — Problems in housing, the financial markets and the first job decline in four years have made a […]

Domino effect as another finance firm goes under

By VANESSA PHILLIPS – The Nelson Mail | Thursday, 6 September 2007Email a Friend | Printable View | Have Your SayRelated Links • Subscribe to Archivestuff • Have your say Advertisement AdvertisementAnother Nelson finance company, with links to failed firm LDC Finance, has nosedived into receivership, owing $16 million to investors. Long-established Tahunanui-based Finance and […]

NZ isolated over nuclear energy

SYDNEY – New Zealand is resisting a push by Australia and the United States for nuclear power as the answer to global warming. Ministerial meetings of the Asia-Pacific Economic Cooperation forum (Apec) have been dominated by climate change policy, but New Zealand has found itself on a different side of the table from the US […]

Privatise jails and cut frills: report

By Claire Trevett  An independent report recommends ways to cut costs in NZ prisons. Photo / Derek Flynn Less pretty landscaping, having prisoners share toilets and privatisation of prisons are among solutions an independent report has given to building cheaper prisons. An independent report into how the Government could save money when building prisons says […]

Globalisation: Free Trade Needs Rules, Not the World Bank

Posted by Bill Bonner on Sep 3rd, 2007 We’ve talked quite a bit about ‘fat tails’ in these pages…about events that lie so far outside the normal course of events that we tend to push them equally far away in our consciousness, events that are so devastating that when they do occur they cancel out […]