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New Zealand Plays an Important Part in setting up International Bank led by China

Banking Sector - Tue, 06/16/2015 - 11:40

Prime Minister John Key said that New Zealand had a significant role to play in setting up a China- led international investment bank which is expected to have an initial capital of approximately $US100 billion.

In the Asian Investment Bank , New Zealand will be one of the founder members and will put in an amount of $NZ125 million in the next five years.

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Intel and Altera Deal Weighing on TSMC Shares

Technology News - Tue, 06/02/2015 - 10:27

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Intel Corp's acquisition deal for Altera may not prove to be good news for everyone and TSMC or Taiwan Semiconductor Manufacturing Co. is one of them. The company's shares dropped on Tuesday morning as the Intel and Altera deal led to concerns of Altera Corp shifting its orders from TSMC to Intel.

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Home Builder Sentiment Index Dropped in May but Outlook for Future Is Optimistic

Real Estate - Tue, 05/19/2015 - 12:31

Home builders view on sales dropped this month but remained above a point where the conditions indicate a good view for the market.

In April, the builder-sentiment index released by National Association of Home Builders was 56 but it dropped this month to 54. A reading which is more than 50 indicates a positive outlook.

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Starbucks to Partner with Stopify for Music Streaming Services

Technology News - Tue, 05/19/2015 - 12:18

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Starbucks ended its tradition of selling CDs in March but now the coffee chain is moving into the trend of music streaming and has confirmed a partnership with the music streaming leader Spotify.

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Shares of Sharp Corp. of Japan Drop as Company Considers Capital Reduction

Company News - Mon, 05/11/2015 - 11:21

Sharp Corp. of Japan said that the company was considering a considerable amount of capital reduction and preferred share issuance. The news worried the investors and its shares dropped wiping almost one third of its market value at a certain stage on Monday. The electronics company is facing a tough time owing to strong competition in the market and has been facing losses for years.

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Faulty Fletcher Building Concrete Affect Seventy Buildings including Part of Auckland University

Auckland News - Wed, 05/06/2015 - 11:26

Firth concrete which is owned by Fletcher Building, the largest construction company of New Zealand produced some sub-standard concrete which may have affected seventy construction sites which also includes $200 million science expansion site of University of Auckland.

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Westpac to Apply Tougher Tests to New Property Investor Borrowers

Banking Sector - Mon, 05/04/2015 - 13:17

Westpac, an Australian bank and financial-services provider, is going to apply tougher tests to new property investor borrowers while assessing how they would manage with higher interest rates in response to regulators' attempts to prevent the housing market from overheating.

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Westpac to Apply Tougher Tests to New Property Investor Borrowers

Australia News - Mon, 05/04/2015 - 13:17

Westpac, an Australian bank and financial-services provider, is going to apply tougher tests to new property investor borrowers while assessing how they would manage with higher interest rates in response to regulators' attempts to prevent the housing market from overheating.

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Bank of America Announces Profits for the First Quarter

Banking Sector - Thu, 04/16/2015 - 12:02

Even with a drop in revenue, the first quarter profit of Bank of America was up, mainly owing to a decrease in the legal expenses. Bank of America announced its first quarter earnings for 2015 on Wednesday which amounted to $3.4 billion. When compared to the loss of $267 million in the first quarter of 2014, the figures seemed to be very optimistic.

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