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Thursday, 1 July 2010


*Domestic News 

Innovation 'paying off' for NZ businesses
Almost half of New Zealand businesses consider themselves innovative but Kiwis still trail Australians when it comes to innovation. - Stuff
http://www.stuff.co.nz/business/3872345/Innovation-paying-off-for-NZ-businesses/

Feltex wasn't trying to hide information, says defence
Any suggestion that Feltex's five directors deliberately hid information from the market by not disclosing it in their interim financial statements to December 31, 2005, is misleading and unfounded, a court heard yesterday. - NZ Herald
http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10655596

KiwiSaver funds double with 1000 joining daily
Investors have $5.5 billion in KiwiSaver funds, more than double the amount a year ago, with 1000 new members joining every day, according to an investment strategist. - Stuff
http://www.stuff.co.nz/business/industries/banking-finance/3872328/KiwiSaver-funds-double-with-1000-joining-daily

Defining moment for Fonterra, says chairman
Approval by Fonterra's farmers to start share trading among themselves is a defining moment for the co-operative, says chairman Sir Henry van der Heyden. - NZ Herald
http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10655598

Battle for Oyster Bay wines settled
Delegat's Group Ltd will increase its holding in Oyster Bay Marlborough Vineyards Ltd to 54.92% under a settlement of long running legal proceedings with Peter Yealands and Peter Yealands Investments Ltd. - TVNZ
http://tvnz.co.nz/business-news/battle-oyster-bay-wines-settled-3620560

*International News

CBO chief: Budget outlook 'daunting'
Douglas Elmendorf, chief budget cruncher for Congress, got to play the role of bad-news bear before the president's bipartisan fiscal commission on Wednesday. - CNN Money
http://money.cnn.com/2010/06/30/news/economy/fiscal_commission_cbo/index.htm

Vultures circle BP over fears its days are numbered in US
In the past an almost double-digit percentage increase in the BP share price would have signalled a spectacular oil strike. - Guardian
http://www.guardian.co.uk/business/2010/jun/30/bp-share-rise-takeover-speculation

EU agrees bank bonuses limit deal
The European Union has agreed a deal to limit the proportion of bankers' bonuses that can be paid upfront. - BBC
http://news.bbc.co.uk/2/hi/business/10468718.stm

Greenpeace Launches Aggressive Campaign Against Costco
Greenpeace gets a lot of flack for its aggressive, embarrassing campaigns against corporations, but the simple truth is that they often work. - Fast Company
http://www.fastcompany.com/1665470/greenpeace-launches-aggressive-campaign-against-costco

Billabong rides into Canada with takeover of retailer
Surfwear company Billabong hopes to smooth waves in North America, taking over Canadian clothing retailer West 49 in a $110.4 million deal. - Sydney Morning Herald
http://www.smh.com.au/business/billabong-rides-into-canada-with-takeover-of-retailer-20100630-zmqs.html

China Partially Blocking Google Searches
Ever since tensions erupted between Google and the Chinese government earlier this year, Beijing has made sure the search engine sat on unsteady ground, unpredictably blocking and then unblocking search results and other Google services within the country. - New York Times
http://bits.blogs.nytimes.com/2010/06/30/china-partially-blocking-google-searches/?ref=business

(C) Fairfax Media Business Group 2010

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