In this section
Offers for readers
The comment stream
Recent comments
- 1 of 19105
- ››
Editors choice
- 1 of 276
- ››
Finance sector jobs
Successful applicants will have the opportunity to work with this leading Australian Advis...more
Australia
Think Global Recruitment is working with this exceptionally respected Australian Boutique ...more
Australia
Sought after opportunity to move to one of the most beautiful westernised countries in the...more
Australia
The news stream
Latest news
Most commented
- 90 seconds at 9 am with BNZ 116
- Wednesday's Top 10 with NZ Mint 78
- Friday's Top 10 with NZ Mint 28
- The problems with NZ's energy use 19
- Amanda's Take Five for Wednesday 19
- More bank mortgage rate cuts 16
- Govt lifts minimum wage 50 cts to $13.50 an hour 16
- Thursday's Top 10 with NZ Mint 15
- 90 seconds at 9 am with BNZ 14
- Full time jobs fall 13,000 in Dec qtr 14
Most viewed
Interest on Twitter
90 seconds at 9 am with BNZ: Pacific Fibre forging ahead with 2nd cable; Dow down on weak US economy; NZ$ down
Bernard Hickey details the key news overnight in 90 seconds at 9 am in association with BNZ, including news that Pacific Fibre has found a partner to help it build a second optic fibre cable joining New Zealand with Australia and America.
The cable, backed by Sam and Gareth Morgan, Stephen Tindall, Rod Drury and David Kirk, will now cost US$400 million rather than earlier projections of US$500 million.
The partner is Asian company Pacnet. Pacific Fibre aims to lay the cable by 2013, which would provide much needed competition for Telecom's Southern Cross cable and open up capacity to the rest of the world.
Pacific Fibre may raise money through a stock market listing or bond issues.
Meanwhile in the United States, the Dow fell overnight on surprisingly weak US durable goods orders, which suggest the US economy is slowing again.
The New Zealand dollar has fallen a full US cent in the last 24 hours, partly on these renewed concerns about the US economy.
It sat at 72.7 USc just before the Reserve Bank is set to announce whether it will increase the Official Cash Rate as expected to 3% from 2.75%.
We will update this article when we have the news shortly after 9 am.
Related Topics
15 Comments
What that means is Ben is
What that means is Ben is turning the printer back on...QE part 2....any day now Hollywood will announce a feature production on the day the bubble burst...who will play Greenspan and will they find enuff stupid morons for the parts of the politicians and president?
Private companies building a
Private companies building a cable? And a piece of extremely critical infrastructure, far more important for NZ than fibre to the home? How could that happen?
Maybe the market works after all. A lesson John Key still has to learn. But I suppose spending other peoples money is plain addictive as National is still spending as much as Labour did.
"....And a piece of extremely
"....And a piece of extremely critical infrastructure, far more important for NZ than fibre to the home?......"
You are asking a good question without really knowing you have hit the nail smack on the head
Spending heaps on fibre to the door is a waste of money....
yes upgrading in rural.....
The big issue as to speed etc in NZ is old routers (modems) not ADSL2 compilant, and most NZers have BB a/cs that have capped speeds.
I for one have a std BB connection , uncapped, and fall in the top 5 percental in the world...16 to 18 meg DL, ...the ave private user and small business only needs 2 to 6 meg, if that. and that is fine even to run there own web/ mail servers and VPN
What does choke NZ is the connectionbs to offshore, including Aussie....my BW immediately drops from approx 17 meg to max 2.5/3 meg.
I use my BW as an example, it is more than that , I have been in the industry for 15 yrs, starting with 56 k modem, whated it grow , get strangled, upgraded, expaned, in areas from small rural towns to the big cities.
The Government has brought into the rort of the IT world and the rort of fibre, distance, old copper etc etc....and the tax payer and country are the ones who eventually suffer. The huge budgets for fiber to the door BS could be spent, or not spent (borrowed) far more effectivily in productive areas of our economy.
My Japanese MiL in Nagoya has
My Japanese MiL in Nagoya has FTTH and it costs her around NZ$20 per month, with no caps.
One speed test I performed resulted in an average throughput of ~60 Mb/s, peaking at over 70 Mb/s, but others in Japan report even better rates.
The MiL uses this connection to send messages via her webmail account, videochat with my wife and the kids via Windows Messenger, and to check her online stock-exchange accounts.
Even when factoring in the Japanese population densities, it's safe to say that most Kiwis have no idea just how incredibly ripped-off we are.
"Three out of four people
"Three out of four people applying for sickness benefits are being found fit to work or are abandoning their claims, according to Government figures."
http://www.google.com/hostednews/ukpress/article/ALeqM5gT39ciQ77oRxq7XyUwXqa4vgR5dg
Makes you think don't it!
SOCIALISM!!!
SOCIALISM!!!
Look at copper
Look at copper go... http://www.bloomberg.com/news/2010-07-28/copper-rises-to-11-week-high-in-london-on-optimism-about-demand-in-china.html
Going
Going where?
http://www.lme.com/copper.asp
http://www.olex.co.nz/Miscellaneous/Copper-Price.html
And it's still more than $4,000 per tonne below it's peak which was way back in June 2006.
Wally you cannot justifiably bash property investment spruikers while you -- a copper investor -- relentlessly spruik copper.
http://www.investmenttools.co
http://www.investmenttools.com/futures/metals/welcome_to_the_page_about_...
UK State pension not enough
UK State pension not enough to live on Minister admits
http://www.independent.co.uk/news/uk/politics/state-pension-is-not-enough-to-live-on-minister-admits-2038076.html
The comments are suitably angry - where did all the National Insurance go?
"Three out of four people
"Three out of four people applying for sickness benefits are being found fit to work or are abandoning their claims, according to UK Government figures."
I bet that it is a similar situation in NZ. The last Labour Gov't lowered the unemployment figures by dumping people on the sickness benefit, ACC and DPB. Real unemployment in NZ is more than twice the official figure. Will the National Gov't do anything about this situation?
"Real unemployment in NZ is
"Real unemployment in NZ is more than twice the official figure." - Not really surprising since there is a fair chunk of unemployed people who do not claim the dole/other benefit so I assume are not included in the figures.
As for "Will the National Gov't do anything about this situation?", apparently they were going to do something about the income gap between NZ and Oz but... "The wage gap between Kiwi and Australian workers has widened by $40 to $580 a week since National came to power in late 2008 promising to address the income gap." http://www.stuff.co.nz/marlborough-express/news/3965457/Aust-Kiwi-pay-gap-widens-to-580-a-week So it doesn't look too promising.
"Real unemployment in NZ is
"Real unemployment in NZ is more than twice the official figure." - Not really surprising since there is a fair chunk of unemployed people who do not claim the dole/other benefit so I assume are not included in the figures."
Then add "who do not claim" Who do not qualify....
Steps.... just wait till the
Steps.... just wait till the 90 day roll em over effect kicks in with a six week stand-down and people being apprehensive about registering the stats will be miles out all of the time and no doubt in favour of the sitting administration.
you really got to hand to the devious bastard that figured that one out..
"you really got to hand to
"you really got to hand to the devious bastard that figured that one out.."
yeah it was back in the 1990s when unemployemt was getting up to 10%...Shipley Gov????