| New Zealand Stocks Set For Uncertain Open
(RTTNews) - New Zealand stocks will try to shake off the jitters that sent most markets around the world lower on Friday. With little major economic news due early in the week, foreign markets are likely to play a big role in driving New Zealand's direction. The benchmark NZX-50 Index lost 45.58 points or 1.26 percent to close at 3,558.26. Total market turnover was valued at NZ$77.1 million dollars. Most of the blue chip issues moved lower, with Telecom Corporation of New Zealand declined by .04 and Fletcher Building plunging 48 cents, while Contact Energy gained one cent. Among the other decliners, carpet maker Cavalier fell .07, Pumpkin Patch dropped .08, Port of Tauranga lost .10 and Sky TV was down .07. Among the few gainers, The Warehouse moved up a penny, Goodman Fielder was .07 higher and casino owner SkyCity Entertainment was up one cent In trading overseas, Wall Street finished last week with another dose of red ink, with stocks lower across the board.
(AFX UK Focus) 2008-03-12 10:35 GMT: Ahead of the Bell: Oil Inventory
WASHINGTON (AP) - Government data released Wednesday is forecast to show that crude-oil inventories rose last week after an unexpected drop in the prior period. Both crude-oil and gasoline prices set record highs on Tuesday. The Energy Department's forecasting arm, the Energy Information Administration, publishes petroleum inventory data for the week ended March 7 at 10:30 a.m. EDT. Analysts expect oil stockpiles grew last week by 1.6 million barrels, according to a survey by Dow Jones Newswires. For the week ended Feb. 29, crude-oil inventories fell by 3.1 million barrels, or 1 percent, to 305.4 million barrels, which were 4 percent below year-ago levels. It was the first draw after seven straight weekly increases. Meanwhile, gasoline inventories rose by 1.7 million barrels, or 0.7 percent, to 234.3 million barrels, which were 9 percent above year-ago levels.
Labour & Employment
As a Benefits Law Journal exclusive, the following is the federal government�s secret notice to plan participants covering the new PPA 401(k) automatic enrollment and qualified default investment alternative rule.: Dear Employee: Our records show that you haven�t been paying much attention to your long-term financial future. Did you know (we sent you a notice) that our company�s pension plan was frozen last year? Our Board of Directors couldn�t deal anymore with the vagaries of the investment markets, low interest rates, and ever-changing accounting, funding, and tax rules. That means it�s now up to you to start planning for your retirement. And it appears that you have not done a thing. Although our company has long offered a 401(k) plan with a 50-cents-on-the-dollar employer match, you�ve never contributed a single penny....
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