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Business Report for Wednesday, 10 March, 2010

10/03/2010 12:32:02

New job numbers have hit a 12 month high.

More than 12,700 job advertisements were placed on the Seek website last month alone.

General manager Annemarie Duff says February has outperformed every other month since January last year.

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Some KiwiSaver members are living with a false sense of security.

A UMR Research survey has found almost half of members believe their investments are guaranteed by the Government, while a third have no idea about guarantees.

UMR's executive director Tim Grafton says there may be a lack of information, or KiwiSaver members are just not heeding the warning from other investment failures.

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Motorists face the second fuel price rise in a week.

BP and Caltex have hiked prices by five cents, putting the price of 91 unleaded at $1.82.9. Diesel prices also went up three cents a litre, to $1.15.9 a litre. The other main players Shell, Mobil and Gull have not yet raised prices.

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Consumer New Zealand says customers cannot do anything about electricity companies imposing smart meters on them.

There are reservations about how smart the metres are and the benefit to consumers.

Consumer spokeswoman Sue Chetwin says the savings are actually being made by the retailer who no longer has to send somebody around to read the meter.

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To the markets where the NZX50 is up two points to 3,215.

Fletcher Building has risen three cents to $8.13 and Mainfreight has also gained three cents to $6.10.

The New Zealand dollar is buying 70.21 US cents, 76.77 Australian cents, 51.65 euro cents, 63.19 yen and 46.83 pence.

The 90 day bank rate is 2.71 percent and the TWI is 64.93.

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