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MARKET CLOSE: NZ shares fall as investor uncertainty weighs

Article – BusinessDesk

MARKET CLOSE: NZ shares fall as investor uncertainty weighs on exporters; F&P Health, A2 drop Read more »

NZ dollar drops below US68c on plan to up bank capital

Article – BusinessDesk

Dec. 14 (BusinessDesk) – The New Zealand dollar fell below 68 US cents for the first time in two weeks after the Reserve Bank outlined plans for lenders to hold greater capital reserves, which would likely boost borrowing costs and slow the economy. Read more »

Big four banks face stiffer capital requirements from RBNZ

Article – BusinessDesk

Dec. 14 (BusinessDesk) – The big four Australian-owned banks will have to hold on to more of their domestic earnings over the next five years if the Reserve Bank goes ahead with its proposal for stricter capital requirements. Read more »

Noel Leeming fined $200,000 for misleading consumers

Article – BusinessDesk

Dec. 14 (BusinessDesk) – Noel Leeming has been fined $200,000 for misleading consumers about their rights under the Consumer Guarantees Act following a Commerce Commission prosecution. Read more »

Infratil signals A$50m investment in Canberra Data Centres

Article – BusinessDesk

Dec. 14 (BusinessDesk) – Infratil says it expects to invest up to another A$50 million in Canberra Data Centres to help fund its on-going growth. Read more »

Govt provides $2.5 mln to develop Opotiki aquaculture

Article – BusinessDesk

Dec. 14 (BusinessDesk) – The government has committed more than $2.5 million from the Provincial Growth Fund to help expand marine farming at Opotiki. Read more »

New role may alleviate kiwifruit labour shortage

Article – BusinessDesk

Dec. 14 (BusinessDesk) – The New Zealand kiwifruit growers’ association says it has gained support from the governments Provincial Growth Fund and the Ministry of Social Development to employ a labour coordinator to try to alleviate an expected … Read more »

NZ manufacturing activity chugs along in November

Article – BusinessDesk

Dec. 14 (BusinessDesk) – New Zealand manufacturing activity grew at a slightly slower pace last month, hovering around its long-run average, as the sector recovers from a mid-year lull. Read more »

Australia’s GWA lobs in $118M bid for Methven

Article – BusinessDesk

Dec. 14 (BusinessDesk) – Australian kitchenware firm GWA Group is mounting a $118 million bid for Kiwi tapware maker Methven and has the blessing of cornerstone investor Brendan Lindsay, barring a better offer emerging. Read more »

Govt leaves door open for higher emissions price cap

Article – BusinessDesk

Dec. 14 (BusinessDesk) – The government appears to have left the door open for an increase in emission prices before it moves to regular auctions of emission units in 2020. Read more »

Methven shares halted pending material transaction

Article – BusinessDesk

Dec. 14 (BusinessDesk) – Trading in Methven shares has been halted pending the announcement of a material transaction. Read more »

Housing market continued cooling in November

Article – BusinessDesk

Dec. 14 (BusinessDesk) – House price inflation abated further in November, although sales volumes increased slightly, and the Auckland market cooled a little more. Read more »