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On Air Now: Pat BrittendenTell 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 LatestCounties back on trackCounties-Manukau have got back to their winning ways in the ITM Cup with a 23-3 win over Tasman in the wet at Pukekohe. Read MoreFerns smash Aussies in second testThe Silver Ferns have wiped Australia off the court in the second netball test in Wellington, to level the Constellation Cup series at 1-1. Read MoreFerns smash Aussies in second testThe Silver Ferns have wiped Australia off the court in the second netball test in Wellington, to level the Constellation Cup series at 1-1. Read MoreToxic sea slugs foundPeople are being urged to look out for toxic sea slugs on beaches in the Auckland region, after one was found at Cornwallis Beach. Read More |
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> Toxic sea slugs found > Armed robbers in West Auckland > Radiographer and DHB talks breakdown > Financial advisors to be more accountable SPORT > Counties back on track > Ferns smash Aussies in second test WEATHER > Thursday's national highs... See All Today's Most Read Stories
> Re-jig for child support?
> Car crash fatality in Far North > Bolger says bigger! > SCF investors targeted > Dr Cullen proposes moving toward republic Read More News on Your Mobile
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