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On Air Now: Mike HoskingTell us what you think: Talkback 0800 80 10 80 |
The New Zealand Stock Exchange has taken a hit, sliding almost two percent on the back of investor fears that more financial institutions could become casualties in the widening US financial crisis. One of the major US investment banks', Bear Stearns, cash reserves were drained by fleeing customers prompting its sale at a rock bottom price to JP Morgan Chase and Company. Stock broker Chris Lee says the repercussions of the Bear Stearns situation is being felt in New Zealand - but banks operating here are not in trouble. He says New Zealand banks will have much bigger write offs over the next couple of years, but he does not see any of them falling over or coming anywhere near falling over. Mr Lee says the banking system in New Zealand and in Australia are in much better shape than the rest of the world.
View All NZ LatestWeather conditions against swimmerMike Bodger not launching another attempt to become oldest person to swim Cook Strait after weather conditions prevented success Read MorePrivate ACC info mistakenly sent outACC apologising after report on injuries sent to thousands of businesses by mistake Read MoreFinancial marketsNZX50 3,076; Dow 10,053; NZ$=69.05 USc, 79.09 Aust, 50.29 euro, 61.80 yen, 44.21p; 90 day rate 2.79%; TWI 64.07 Read MoreStumbling block for govt's tax reformMaori Party against GST rise and wants to negotiate; co-leader Tariana Turia says increasing GST will be hard on low income families Read More |
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> Weather conditions against swimmer > Private ACC info mistakenly sent out > Financial markets > Stumbling block for govt's tax reform SPORT > First round exit for Sacha Jones in Thailand > Refs to front at post match media conferences WEATHER > Climate row scientist says he considered suicide See All Today's Most Read Stories
> Urgent - Key signals increase in GST
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