Telecom of New Zealand http://so-l.ru/tags/show/telecom_of_new_zealand Mon, 19 Feb 2018 17:20:40 +0300 <![CDATA[New Zealand Money Supply M0]]> http://so-l.ru/news/y/2014_10_30_new_zealand_money_supply_m0 Thu, 30 Oct 2014 20:13:00 +0300 <![CDATA[New Zealand Money Supply M2]]> http://so-l.ru/news/y/2014_10_30_new_zealand_money_supply_m2 Thu, 30 Oct 2014 20:13:00 +0300 <![CDATA[New Zealand Money Supply M3]]> http://so-l.ru/news/y/2014_10_30_new_zealand_money_supply_m3 Thu, 30 Oct 2014 20:13:00 +0300 <![CDATA[Currency Positioning and Technical Outlook: Clouded by Fundamentals]]>

We were wrong.  A week ago, we had thought a downside correction in the dollar was likely.   Instead the greenback remained generally firm.  The Canadian dollar was the main exception and managed to trade at its best level in a month.  The yen was a bit firmer too, but we had correctly anticipated that.

The fallout from Cyprus, including the perceptions of increased vulnerability of other EMU members, such as Slovenia, and the unresolved Italian political situation dragged the euro down to new four month lows, and generally weighed on the other major currencies. 

The week ahead begins off slowly with some markets still on closed on Easter Monday.  Nevertheless, the week is full of regularly scheduled events, such as PMI reports, central bank meetings in Australia, Japan, the UK and the euro area, and North American employment reports and US auto sales.   In addition to these, Cypriot developments, Italian politics and Slovenia's financial condition are also shaping the investment climate.

Euro:  March was the second consecutive month that the euro fell.   The $1.2750 offers initial support  and some option barriers are believed to have been struck there.  The next downside target is $1.2680, which corresponds to a retracement objective of the euro's rally sparked by ECB Draghi's comments in late July 2012.   We remain concerned that from a technical perspective the euro is stretched.  The new four month lows were not confirmed by the RSI.  Perhaps the 5-day moving average may offer some guidance.  The euro has finished the North American session above it only four times in March after six times in February. and only once for two consecutive sessions (back in the middle of February).  In addition, we note that euro has not closed above its 20-day moving average since Feb 13.  It will come in just above $1.2940 on Monday and is falling more than 10 pips a day. 

Yen: Since peaking on March 12 near JPY97.60, the dollar's momentum has flagged.  Many in the market expect the yen to be sold off at the start of the new Japanese fiscal year and as the BOJ is set to announce new QE efforts.  We remain less sanguine.  We think the yen's 13.7% decline against since mid-November 2012, when the Japanese election was called, reflects the market discounting a more aggressive monetary (and fiscal) policy under the Abe government.      In the last two weeks, the dollar has has twice held support near JPY93.50.  A break of this could see a range extension to just above JPY93.00.  It requires a convincing break of that to signal a return to the JPY91.00 area.   JPY94.50 offers initial resistance on a closing basis. 

Sterling:  We had been monitoring what appeared to be a head and shoulders bottom in sterling. Sterling reached $1.5270 and reversed, dropping almost 2 cents before bottoming, and returning to the neck line of the pattern near $1.5200.  It is not uncommon for the a retest of a neck line in a head and shoulders pattern, though this time it was rather deep.  Even though the price action was disappointing, a number of technical indicators suggest it may be premature to abandon the idea altogether.  The RSI and MACDs are still trending higher and sterling held above the 20-day moving average.  In addition, sterling finished the month above the down trend line drawn of the Jan 2 high near $1.6380, the mid-February high just below $1.5850, and March 22 high near $1.5250.  It is falling around 20 pips a day. 

Canadian dollar:  The Canadian dollar was the best performing of the majors last week, gaining almost 2/3 of 1% against the US dollar.  The Canadian dollar's gains pushed it to the best level in more than a month.  This saw the greenback test the CAD1.0145 area, a retracement objective of  the rally off the low of the year set  Jan 11 near CAD0.9820.  A break of this CAD1.0145 area is needed to signal a continued correction that could carry the US dollar toward CAD1.0050.  On the upside, the greenback faces resistance in the CAD1.0200-20 area. 

Australian dollar:  The Aussie had begun the week with a test on the $1.05 level, which had not been seen since January 24.  However, as with most of the other major currencies, it failed to sustain the upside momentum and returned to support around $1.04 in the second half of the week.  It was the best performing major currency in March, gaining a little more than 2% against the US dollar.  Technical indicators suggest this advance is getting long in the tooth, even if not yet generating sell signals.  On the downside, it probably requires a more dovish than expected RBA statement and a break of the $1.0350 area to force the bulls to retreat. 

Mexican Peso:  The peso, still considered an emerging market currency, even though Mexico is a member of the OECD, actually was even stronger than the Australian dollar in March, gaining roughly 3.6%, which is as much as the Australian and New Zealand dollars combined.   Without much momentum, the US dollar ground to a new low since Q3 2011.    MACDs and slow stochastics appear to be about to turn, but with the potential of telecom and energy sector reforms, coupled with attractive yield pick up, we think market psychology is such that pullbacks in the peso will continue to be bought. 

 

We share the following observations on positioning in the currency futures.

1.  The net speculative position remains short the euro, yen, sterling, Swiss franc and Canadian dollars.  The gross long position in these currencies continues to be reduced.  The speculative community is long the Australian dollar and Mexican peso and it added to those gross longs in size (40.1k and 17.8k contracts respectively).

2.  The Canadian dollar is saw a sizable adjustment of gross positions, but only a small reduction in the net short position. Speculators have been reducing the net long position and then growing the net short position for nine consecutive week.  There is still a substantial gross short Canadian dollar position.

3.  The 40.1k contract increase in the gross long Australian dollar position is significant.  In most weeks, there are only a few gross positions adjusted by more than 10k contracts.  These late longs, however, cannot be happy as the Aussie peaked in the spot market the day this reporting period ended.  The Australian dollar then fell nearly a cent.

4.  The record net short sterling position continued to increase.  The sterling bears have been in the driver's seat for eleven consecutive weeks; first liquidating the net long position and then expanding the shorts.







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http://so-l.ru/news/y/2013_03_30_currency_positioning_and_technical_outlo Sat, 30 Mar 2013 16:48:26 +0400
<![CDATA[Telecom New Zealand (NZTCY.OB) is cutting 930-1230 jobs, or 12%-16% of its workforce, in a massive restructuring. The struggling telco expects to reap annual cost savings of NZ$110M ($92M), and record an NZ$70M-$80M ($59M-$67M) charge. The company's 2013 operating earnings guidance of NZ$1.04B-$1.06B (exc. restructuring costs) remains unchanged for now.]]> Telecom New Zealand (NZTCY.OB) is cutting 930-1230 jobs, or 12%-16% of its workforce, in a massive restructuring. The struggling telco expects to reap annual cost savings of NZ$110M ($92M), and record an NZ$70M-$80M ($59M-$67M) charge. The company's 2013 operating earnings guidance of NZ$1.04B-$1.06B (exc. restructuring costs) remains unchanged for now. Post your comment!

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http://so-l.ru/news/y/2013_03_28_telecom_new_zealand_nztcy_ob_is_cuttin Thu, 28 Mar 2013 03:00:08 +0400
<![CDATA[Five Lessons From Zimbabwe's Richest Man, Strive Masiyiwa]]>

Over two decades ago, Strive Masiyiwa took the Zimbabwean government to court in a grueling five-year legal battle. Masiyiwa had been planning to launch his own mobile telecoms company, but the government, which claimed it held an exclusive monopoly to manage and operate telecommunications in Zimbabwe,was desperately trying to thwart his ambitions. After the High Court ruled in favor of Masiyiwa, the Zimbabwean tycoon went on to build Econet Wireless, a leading Pan-African mobile telecoms company with operations across Africa, the U.K and New Zealand.

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http://so-l.ru/news/y/2013_02_25_five_lessons_from_zimbabwe_s_richest_man Mon, 25 Feb 2013 08:51:29 +0400
<![CDATA[World › Quakes strike off New Zealand, Philippines]]>

A 6.0 magnitude earthquake struck off the North Island of New Zealand on Saturday, the U.S. Geological Survey reported, but there were no reports of any damage. The quake at 6:16 p.m. local time was centered 204 kilometers deep and about 300 kilometeres northeast of Auckland. The tremor was not…

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http://so-l.ru/news/y/2013_02_16_world_quakes_strike_off_new_zealand_p Sat, 16 Feb 2013 10:30:31 +0400
<![CDATA[Broad hails England team display]]>

Stuart Broad calls England's 10-wicket Twenty20 win over New Zealand "probably the most powerful I've been involved with."

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http://so-l.ru/news/y/2013_02_15_broad_hails_england_team_display Fri, 15 Feb 2013 16:18:39 +0400
<![CDATA[Edwards secures third for England]]>

Charlotte Edwards scores a century as England beat New Zealand by four wickets to finish third in the Women's World Cup.

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http://so-l.ru/news/y/2013_02_15_edwards_secures_third_for_england Fri, 15 Feb 2013 14:46:28 +0400
<![CDATA[Hales fires England to series win]]>

Alex Hales hits 80 as England thrash New Zealand by 10 wickets with 44 balls remaining to win the Twenty20 series 2-1.

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http://so-l.ru/news/y/2013_02_15_hales_fires_england_to_series_win Fri, 15 Feb 2013 12:41:40 +0400
<![CDATA[Австралия: квартальная прибыль ANZ Bank упала на 20%]]>

Третий по рыночной капитализации в Австралии банк Australia & New Zealand Banking Group зафиксировал 20%-ное снижение прибыли в первом квартале с окончанием 31 декабря в связи с падением маржи в подразделениях Новой Зеландии и прочих зарубежных отделениях. Так, неаудированная прибыль после выплаты налогов составила A$1,36 млрд ($1,41 млрд) по сравнению с A$1,7 млрд годом ранее.

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http://so-l.ru/news/y/2013_02_15_avstraliya_kvartalnaya_pribil_anz_bank Fri, 15 Feb 2013 09:10:44 +0400
<![CDATA[TradeTheNews.com Asian Market Update: NZD at new multimonth highs after strong retail sales; JPY strengthens on leaked G20 communique draft with no currency focus]]>

***Economic Data*** - (NZ) NEW ZEALAND Q4 RETAIL SALES EX-INFLATION Q/Q: 2.1% V 1.4%E - (NZ) NEW ZEALAND JAN NON-RESIDENT BOND HOLDINGS: 66.7% V 64....

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http://so-l.ru/news/y/2013_02_15_tradethenews_com_asian_market_update_nz Fri, 15 Feb 2013 08:44:57 +0400
<![CDATA[U.S. Supreme Court Rejects Sea Shepherd's Plea To Lift Injunction]]>

The US Supreme Court has denied a plea from anti-whaling group Sea Shepherd to end restrictions on its movement as Japan's whalers accused the activists of violating orders to stay away.

Sea Shepherd, which disrupts Japan's controversial whaling missions in the Southern Ocean, last week asked the Supreme Court to end a lower court's injunction to stay at least 500 yards (meters) away from the vessels.

Justice Anthony Kennedy on Wednesday rejected the application, a Supreme Court document showed. As is customary for such denials, Kennedy did not offer commentary.

Japan's whalers earlier this week filed a motion with the US Court of Appeals for the Ninth Circuit accusing Sea Shepherd of violating the injunction when its ship, the Brigitte Bardot, approached whaling vessels on January 29.

Japan's whaling organizations, the government-backed Institute for Cetacean Research and the company Kyodo Senpaku, sought to find Sea Shepherd in contempt of court -- which would carry potentially serious legal penalties.

Sea Shepherd has not denied that the Brigitte Bardot, a former ocean racer named after the French actress and animal rights activist, trailed the whalers. The group has claimed success by preventing the Japanese from killing whales this season.

But the Sea Shepherd Conservation Society, based in Oregon, said its vessel was sailing under an Australian flag and operated by the group's Australian sister organization, meaning it is not subject to the US court order.

Australia and New Zealand voice outrage over Japan's annual whaling expeditions in the Southern Ocean, which the International Whaling Commission considers a sanctuary for the ocean giants.

Japan uses a loophole in a 1986 global moratorium on commercial whaling that allows "lethal research" on whales and sets out to kill hundreds each year.

Japan makes no secret that the meat ends up on dinner plates and has pushed for a resumption of full-fledged commercial whaling, accusing Western nations of insensitivity to its cultural traditions.

The Ninth Circuit court issued the injunction on Sea Shepherd on December 17, citing safety concerns as it reviews a lawsuit from the whalers.

Sea Shepherd has argued that the US court has no jurisdiction over activities halfway across the world.

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http://so-l.ru/news/y/2013_02_15_u_s_supreme_court_rejects_sea_shepherd Fri, 15 Feb 2013 03:28:42 +0400
<![CDATA[Business › Brewer Asahi sues over New Zealand liquor firm purchase]]>

Japanese brewing giant Asahi launched legal action in Australia Thursday alleging it fell victim to "deceptive and misleading conduct" when it bought New Zealand's Independent Liquor in 2011. Asahi's Australian subsidiary said it was seeking damages from two private equity firms over the NZ$1.53 billion ($1.3 billion) takeover, the biggest-ever…

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http://so-l.ru/news/y/2013_02_15_business_brewer_asahi_sues_over_new_ze Fri, 15 Feb 2013 01:06:28 +0400
<![CDATA[Apple Wins Big Government Account for 10K iPhones, iPads]]>

More than 6,000 New Zealand police officers are getting an iPhone after the nation signed a 10-year outsourcing contract with Vodafone.

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http://so-l.ru/news/y/2013_02_14_apple_wins_big_government_account_for_10 Thu, 14 Feb 2013 20:47:09 +0400
<![CDATA[Sports › All Blacks center Richard Kahui to play in Japan]]>

All Blacks center Richard Kahui will quit New Zealand rugby union to play in Japan at the end of the 2013 Super 15 season. The 27-year-old Waikato Chiefs player made his debut for New Zealand in 2008 but has played on 17 tests because of a succession of injuries. He…

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http://so-l.ru/news/y/2013_02_14_sports_all_blacks_center_richard_kahui Thu, 14 Feb 2013 01:15:03 +0400
<![CDATA[Coroner: Soft drinks may need health warnings]]>

A FOOD industry association in New Zealand yesterday rejected a coroner's call to add health warnings to soft-drink labels following the 2010 death of a woman who drank about 7.6 liters of Coca-Cola a day.

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http://so-l.ru/news/y/2013_02_13_coroner_soft_drinks_may_need_health_war Wed, 13 Feb 2013 20:00:00 +0400
<![CDATA[World › New Zealand lawmaker apologizes over Muslim rant]]>

A New Zealand politician offered a qualified apology Wednesday for saying young Muslim men were a terrorist threat who should be banned from flying on Western airlines. After his remarks were condemned across the political spectrum, Richard Prosser of the New Zealand First party said he had failed to acknowledge…

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http://so-l.ru/news/y/2013_02_13_world_new_zealand_lawmaker_apologizes Wed, 13 Feb 2013 06:38:01 +0400
<![CDATA[Coroner: Mom Died From Coke Addiction]]>

A New Zealand coroner has told an inquest that Natasha Harris, a mother of eight who suffered a heart attack in 2010, would not have died if she hadn't been dependent on on Coca-Cola.

In findings released Feb. 12, coroner David Crerar wrote:

"I find that, when all of the available evidence is considered, were it not for the consumption of very large quantities of Coke by Natasha Harris, it is unlikely that she would have died when she died and how she died.''

As reported by the Associated Press last year, Harris, a 31-year-old stay-at-home mom, drank more than two gallons of the soft drink every day. Chris Hodgkinson, the woman's partner, said Harris was "addicted to Coke" and had unhealthy habits, such as eating very little and smoking up to 30 cigarettes a day.

Crerar calculated that Harris' intake of Coca-Cola meant that she ingested the equivalent of two pounds of sugar and 970 milligrams of caffeine per day, according to Television New Zealand. Her family claims Harris suffered from withdrawal symptoms when she didn't have access to her beverage of choice.

Harris' consumption of sugar and caffeine had serious effects on her health. In his finding, Crerar said that Harris had developed cardiac arrhythmia because of her cola habit.

"[She would] go crazy if she ran out... she would get the shakes, withdrawal symptoms, be angry, on edge and snappy," her mother-in-law told the coroner's inquest last year, the BBC notes.

A post-mortem revealed that the woman had an enlarged liver. As Television New Zealand notes, deposits of fat were also found within the liver and they were attributed to the consumption of "excessive amounts of sugar," according to a deposition by pathologist Dr. Dan Mornin.

Coca-Cola released a statement Tuesday that expressed dissatisfaction with the coroner's report. It read, in part:

"[We] are disappointed that the coroner has chosen to focus on the combination of Ms Harris' excessive consumption of Coca-Cola, together with other health and lifestyle factors, as the probable cause of her death. This is contrary to the evidence that showed the experts could not agree on the most likely cause."

As Gawker notes, Crerar doesn't think that Coca-Cola should be held responsible for Harris' death; however, he does suggest the company should consider putting warning labels on its drinks.

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http://so-l.ru/news/y/2013_02_13_coroner_mom_died_from_coke_addiction Wed, 13 Feb 2013 04:25:47 +0400
<![CDATA[New Zealand Politician: West Should Ban Muslim Men From Airplanes]]>

A New Zealand politician has drawn criticism this week for stating that most terrorists are Muslims and suggesting young Muslims men should be banned from Western airlines.

First MP Richard Prosser made the inflammatory remarks in a column written for Investigate Magazine, according to an article featured in the New Zealand Herald.

It is "undeniable" that "most terrorists are Muslims," Prosser wrote, according to the report. "If you are a young male, aged between say about 19 and about 35, and you're a Muslim, or you look like a Muslim, or you come from a Muslim country, then you are not welcome to travel on any of the West's airlines."

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Prosser has since apologized for his remarks.

"I [realize] that's caused [offense] to those people unjustifiably and unneccesarily and I'm [apologizing] unreservedly to them," the statement said, according to the New Zealand Herald.

The column was previously attacked by some of Prosser's colleagues, including former Labour party member Kelvin Davis:

Ethnic Affairs Minister Judith Collins called Prosser's comments "appalling," "extremely disappointing" and "may cause international embarrassment for New Zealand," according to NZ Newswire. New Zealand Prime Minister John Key also slammed the column.

Speaking with Stuff Magazine, Federation of Islamic Associations of New Zealand president Dr. Anwar Ghani said the comments betrayed a disappointing level of intellect in the New Zealand parliament.

''You would expect people that come to Parliament are deep thinking people and they have a wider appreciation of the community in New Zealand and the global socio-political scene,'' he said.

3News notes that since being elected to the legislative body in 2011, Prosser has made series of controversial comments, including calling for a ban of burqas in public, and mandatory military training for all New Zealanders.

Read Richard Prosser's piece, "Enemy at the Gates" (page 8):

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http://so-l.ru/news/y/2013_02_13_new_zealand_politician_west_should_ban Wed, 13 Feb 2013 03:37:52 +0400
<![CDATA[Sports › Botha claims he was offered $155,000 to throw Williams bout]]>

Veteran South African boxer Francois Botha Wednesday claimed he was offered A$150,000 to throw his fight against Sonny Bill Williams, sparking an angry denial from the New Zealander's manager. Williams, a former World Cup-winning All Blacks rugby star, won the controversial heavyweight bout on points in Brisbane last Friday, which…

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http://so-l.ru/news/y/2013_02_13_sports_botha_claims_he_was_offered_15 Wed, 13 Feb 2013 01:38:13 +0400