China car show opens with fanfare

China car show opens with fanfare

Leading car makers have gathered in Beijing for China's biggest car show, expressing confidence in the world's largest car market although lacklustre growth and environmental restrictions have thrown uncertainty into the mix. More than 1100 vehicles are on show at the Beijing International Automotive Exhibition in the capital's suburbs, which opens on Monday. General Motors, Toyota, Volkswagen a…

  • Documents detail another delayed GM recall AAP - 7 hours ago
    Documents detail another delayed GM recall

    The National Highway Traffic Safety Administration, the government's auto safety watchdog, also didn't seek a recall of the compact car from the 2004 through 2007 model years even though it opened an investigation more than two years ago and found 12 crashes and two injuries caused by the problem. The documents, posted on the agency's website on Saturday, show yet another delay by GM in recalling unsafe vehicles and point to another example of government safety regulators reacting slowly to a safety problem despite being alerted by consumers and through warranty data submitted by the company. Both GM and NHTSA have been criticised by safety advocates and lawmakers for their slow responses to a deadly ignition switch problem in 2.6 million GM small cars. GM admitted knowing about the problem for more than a decade, yet didn't start recalling the cars until February.

  • Beijing auto show opens AAP - 8 hours ago
    Beijing auto show opens

    Global and Chinese automakers are looking to the Beijing auto show to help boost sales in a slowing, intensely competitive market. Brands from General Motors Co to Chinese SUV maker Great Wall Motors are unveiling new and restyled sedans, sport utility vehicles and other models at Auto China 2014 this week. China is the world's biggest auto market, with 17.9 million vehicles sold last year. Ambitious domestic brands such as Chery Ltd are losing ground to foreign rivals.

  • Dire predictions about the future of NZ economy Newstalk ZB - Sat, Apr 19, 2014 12:38 PM NZST

    There's dire predictions about the future of the New Zealand economy from heavyweight financial analysts.

  • Facebook users to 'spot' friends AAP - Fri, Apr 18, 2014 12:48 PM NZST
    Facebook users to 'spot' friends

    US Facebook users will soon be able to see which of their friends are in close proximity using a new feature the company is launching. Nearby Friends is an optional tool, and will only be available to people who choose to turn it on. The feature uses a smartphone's GPS system to tell a person's Facebook friends they are nearby - provided they have the feature turned on. Facebook said the Nearby Friends feature will be turned off by default, so users shouldn't expect to broadcast their location unknowingly to their Facebook friends and acquaintances.

  • From the Farm: Ruataniwha a mixed bag BusinessDesk - Fri, Apr 18, 2014 7:46 AM NZST

    Professor Angus McIntosh mourns the impact the Ruataniwha irrigation dam will have on New Zealand’s highly threatened native fish fauna as a “serious further blow.”

  • Economists strain to see rebalancing AAP - Thu, Apr 17, 2014 8:39 PM NZST

    Economists continued their efforts this week to identify signs that the economy was weaning itself off the mining investment boom. "The domestic economy is gradually making the transition away from being mainly driven by resources investment," Commonwealth Bank economists Michael Workman and Diana Mousina said in a report, echoing the RBA's sentiment. Through 2013 the economy's output of goods and services, measured by gross domestic product, grew by 2.8 per cent, a bit below what's needed to bring unemployment down over time, with consumer price inflation at 2.7 per cent. "We believe that in coming months it will be clearer that real GDP growth will be near three per cent in 2014, inflation above three per cent and the unemployment rate past its peak in this cycle," the Commonwealth Bank economists said.

  • Flight Centre appeals $11m fine AAP - Thu, Apr 17, 2014 7:55 PM NZST
    Flight Centre appeals $11m fine

    Travel agency Flight Centre has appealed an $11 million fine for anti-competitive behaviour. Federal Court judge John Logan imposed the fine in March after the court ruled in December that Flight Centre had threatened to stop selling flights on several airlines in order to offer the lowest fares. In a case brought by the Australian Competition and Consumer Commission, Flight Centre was found to have induced Singapore Airlines, Malaysia Airlines and Emirates to stop offering international airfares that were lower than fares offered by the travel agency. The court found Flight Centre had broken the law on five occasions between 2005 and 2009.

  • IBM posts lower 1Q earnings, revenue AAP - Thu, Apr 17, 2014 7:37 PM NZST
    IBM posts lower 1Q earnings, revenue

    IBM says its first-quarter earnings have fallen because of a large charge related to reorganising its work force. Revenue has fallen amid an ongoing decline in its hardware business. IBM Corp on Wednesday ...

  • $A loses momentum ahead of Easter break AAP - Thu, Apr 17, 2014 7:37 PM NZST

    The Australian dollar has drifted lower as a boost from speculation of stimulus measures in China wore off, while activity was low ahead of the Easter holiday. The Australian dollar started the day higher following media reports from China about measures to support growth there, Westpac senior currency strategist Sean Callow said. "That seemed to be the reason we rallied to 93.91 US cents," Mr Callow said. Mr Callow said it would be a quiet week ahead for the Australian dollar until Wednesday when consumer price index figures are released by the Australian Bureau of Statistics.

  • Packer, Murdoch stump up $40m for One.Tel AAP - Thu, Apr 17, 2014 7:35 PM NZST

    James Packer and Lachlan Murdoch have paid $40 million to settle a long running dispute with creditors of the failed telco One.Tel. One.Tel liquidator Stephen Parbery said entities associated with Mr Murdoch and Mr Packer had resolved all litigation arising from the collapse of the dot-com company in May 2001. As part of the settlement agreement, Consolidated Press Holdings will pay $14.93 million, Crown Resorts will pay $11.77 million and News Ltd will pay $13.3 million to One.Tel. "Resolution was successfully reached following a confidential and informal process," Mr Parbery said in a statement.

  • Third straight day of gains on market AAP - Thu, Apr 17, 2014 7:24 PM NZST

    The share market heads into the Easter break with three consecutive days of gains and one per cent off a post-GFC high. After a heavy fall to start the week, the market rebounded as positive earnings reports from US companies and strong US industrial production numbers boosted global sentiment. CMC Markets chief market strategist Michael McCarthy said the "circuit breaker" was a strong profit performance and outlook from IT company Intel earlier in the week, which had slowed the sell-off of tech stocks. Rival Wesfarmers was only up in line with the overall market, by 25 cents, or 0.6 per cent, to $42.98.

  • Santos LNG projects nearly complete AAP - Thu, Apr 17, 2014 7:13 PM NZST

    Australia's biggest domestic gas producer Santos is likely to be exporting more than it supplies for local use by 2015. The company's two massive liquefied natural gas projects in Queensland and Papua New Guinea, built to produce higher priced exports, are on track to be operating within the next year. The good news about its growth projects and prospects overshadowed a flat first quarter production and sales performance that missed estimates. Chief executive David Knox said on Thursday the Santos-operated $US18.5 billion Gorgon coal seam gas project (GNLG) was 80 per cent complete - up from 75 per cent in February - and on track for first LNG in 2015.

  • Aust bonds rise ahead of Easter weekend AAP - Thu, Apr 17, 2014 6:52 PM NZST

    Australian bond futures prices are higher as investors square their positions ahead of the Easter long weekend. It was a strong day for the Australian bond market, despite a rise in equity markets, UBS interest rate strategist Matthew Johnson said. "The stock market had a good open and a firm day and normally, if you have a good day for equities, you expect bond prices to go down but we haven't seen that," Mr Johnson said. At 1630 AEST on Thursday, the June 2014 10-year bond futures contract was trading at 96.040 (implying a yield of 3.960 per cent), up from 96.015 (3.985 per cent) on Wednesday.

  • Stocks to watch at close on Thursday AAP - Thu, Apr 17, 2014 6:27 PM NZST

    Stocks to watch on the Australian stock exchange at the close on Thursday: API - AUSTRALIAN PHARMACEUTICAL INDUSTRIES - steady at 56.5 cents Australian Pharmaceutical Industries is writing down the value ...

  • Solid beginnings for Genesis Energy Newstalk ZB - Thu, Apr 17, 2014 6:26 PM NZST

    Shares in Genesis Energy have closed at $1.81 after the power company was listed on the NZX today.

New Zealand Markets

Company Finances

  • PepsiCo's profit rises on snack sales, price hikes Associated Press - Fri, Apr 18, 2014 11:12 AM NZST
    PepsiCo's profit rises on snack sales, price hikes

    PepsiCo reported a stronger-than-expected quarterly profit as the company sold more snacks around the world and hiked prices, including on its drinks. The company, which also makes Frito-Lay, Gatorade, ...

  • Dislike: If You 'Like' General Mills on Facebook, You Can't Sue the Company Entrepreneur - Fri, Apr 18, 2014 8:36 AM NZST
    Dislike: If You 'Like' General Mills on Facebook, You Can't Sue the Company

    The American food manufacturer has made an unprecedented sneaky, (anti)social media move to keep itself out of court.

  • Hot cars at this year's New York auto show Associated Press - Fri, Apr 18, 2014 6:06 AM NZST
    Hot cars at this year's New York auto show

    With more than 1 million visitors annually, the New York International Auto Show is one of the most important shows for the U.S. auto industry. Here are some of the vehicles debuting this year. The show ...

  • Chipotle hiking prices as it draws more customers Associated Press - Fri, Apr 18, 2014 4:40 AM NZST
    Chipotle hiking prices as it draws more customers

    Chipotle is feeling confident that customers are willing to pay more for its burritos, bowls and tacos. The Mexican food chain said Thursday that it would raise prices in the "mid-single digits" ...

  • Jones, Godard, Cronenberg in competition at Cannes Associated Press - Fri, Apr 18, 2014 4:36 AM NZST
    Jones, Godard, Cronenberg in competition at Cannes

    David Cronenberg deconstructs Hollywood, Tommy Lee Jones goes Western and reclusive New Wave legend Jean-Luc Godard returns in 3-D in films competing at next month's Cannes Film Festival. Organizers of ...

  • Make a Positive Impression on the World, and Make Money Doing It Entrepreneur - Fri, Apr 18, 2014 4:30 AM NZST
    Make a Positive Impression on the World, and Make Money Doing It

    The mind behind the UK's best-selling single of all time teaches us that doing good can be profitable, as long as you're willing.

  • Business-Savvy Teens Tap Dynamic New Collector's Market: Designer Sneakers Entrepreneur - Fri, Apr 18, 2014 3:45 AM NZST
    Business-Savvy Teens Tap Dynamic New Collector's Market: Designer Sneakers

    Much-coveted shoes are being bartered and sold by high schoolers at sneaker conventions across the country at eye-opening prices, The New York Times reports.

  • Chipotle sales surge as it draws more customers Associated Press - Fri, Apr 18, 2014 3:00 AM NZST
    Chipotle sales surge as it draws more customers

    Mexican food chain Chipotle reported a higher quarterly profit Thursday as more customers flocked to its restaurants for burritos, bowls and tacos. The Denver-based chain's popularity has kept growing ...

  • PepsiCo's profit rises on snack sales, cost cuts Associated Press - Fri, Apr 18, 2014 1:32 AM NZST
    PepsiCo's profit rises on snack sales, cost cuts

    PepsiCo reported a stronger-than-expected first-quarter profit as the company slashed costs and sold more snacks around the world. The company, which makes Frito-Lay, Gatorade, Mountain Dew and Tropicana, ...

  • Weak Barbie sales weigh on Mattel 1Q Associated Press - Thu, Apr 17, 2014 11:51 PM NZST
    Weak Barbie sales weigh on Mattel 1Q

    Toy maker Mattel says weak sales of Barbie and markdowns to clear out excess inventory left over from a sluggish holiday season led to an unexpected first-quarter loss. Its shares fell almost 5 percent ...