Archive for the 'Article' Category

MARKET CLOSE: NZX 50, Freightways rise to records

Article – BusinessDesk

Oct. 30 (BusinessDesk) – New Zealand shares rose to a record led by Freightways after a profit upgrade. Mainfreight and Restaurant Brands paced gains as investors hunted for yield investments after the Reserve Bank kept interest rates on hold. Read more »

NZ dollar sinks on Fed optimism, neutral RBNZ

Article – BusinessDesk

Oct. 30 (BusinessDesk) – The New Zealand dollar dropped more than 1 US cent after the Federal Reserve gave an optimistic outlook for the world’s biggest economy, stoking talk of interest rate hikes next year, while the nation’s own Reserve Bank signalled … Read more »

NZ, Aust working on differences in depositor protection

Article – BusinessDesk

Oct. 30 (BusinessDesk) – New Zealand and Australia are continuing work to iron out differences between their respective depositor protections, which operate under difference regulatory regimes, Finance Minister Bill English says. Read more »

High Court bars Buddle Findlay from acting against Kerr

Article – BusinessDesk

Oct. 30 (BusinessDesk) – Buddle Findlay, one of New Zealand’s leading commercial and public law firms, has been barred from acting against interest associated with George Kerr, a high profile client of 14 years who generated some $10 million in … Read more »

RBNZ refrains from FX intervention in September

Article – BusinessDesk

RBNZ keeps out of FX markets in September, may have another go pushing kiwi lower Read more »

Chatham Rock to delay exercise of options

Article – BusinessDesk

Oct. 30 (BusinessDesk) – Chatham Rock Phosphate, which is seeking to mine phosphate nodules from the seabed on the Chatham Rise, will push out the date to exercise its listed options until 12 months after it receives marine consent to allow it share … Read more »

Souter says low-price seats, quality will demand bus demand

Article – BusinessDesk

Oct. 30 (BusinessDesk) – Brian Souter, the Scottish transport entrepreneur who today launched a new long-distance bus service in the North Island, says the number of seats available at lower prices and consistency of product will drive demand. Read more »

CORRECT: NZ dollar drops 2% in 2 hours on Fed, RBNZ

Article – BusinessDesk

Oct. 30 (BusinessDesk) – The New Zealand dollar dropped about 2 percent in just two hours this morning after the Federal Reserve gave a more upbeat than expected assessment of the US economy and New Zealand’s Reserve Bank gave no signal it would need to … Read more »

FMA sets sales, conduct and governance as priority targets

Article – BusinessDesk

Oct. 30 (BusinessDesk) – The Financial Markets Authority is stepping up efforts to police the finance sector, highlighting three areas of concern where it sees poor practice or misconduct posing a risk to the public as it beds in the final stages … Read more »

BNZ chief Healy sees growth in rural, business lending

Article – BusinessDesk

Oct. 30 (BusinessDesk) – Bank of New Zealand chief executive Anthony Healy expects the broader rural sector to continue to grow with greater investment along the value-chain, and anticipates increased business lending after a period of low credit expansion. Read more »

Fletcher dumps two executives in overhaul of business units

Article – BusinessDesk

Oct. 30 (BusinessDesk) – Fletcher Building chief executive Mark Adamson has continued with his management team overhaul, dumping two executives in a restructuring of the company’s building products and infrastructure products division. Read more »

Freightways fattens margins, lifts earnings; shares jump

Article – BusinessDesk

Oct. 30 (BusinessDesk) – Freightways, the listed courier and data management company, affirmed it is on track to lift 2015 earnings after recording the strongest first-quarter performance in a decade, widening its profit margin on a 17 percent increase in sales. … Read more »

BNZ annual earnings rise 2.4% on lending growth

Article – BusinessDesk

Oct. 30 (BusinessDesk) – Bank of New Zealand, the local unit of National Australia Bank, lifted annual earnings 2.4 percent as the lender lifted lending to businesses and households and reported smaller charges on bad debts. Read more »

NZ dollar drops 2% on more upbeat Fed, cautious RBNZ

Article – BusinessDesk

Oct. 30 (BusinessDesk) – The New Zealand dollar dropped about 2 percent in just two hours this morning after the Federal Reserve gave a more upbeat than expected assessment of the US economy and New Zealand’s Reserve Bank gave no signal it would need to … Read more »

ComCom confirms lower rates of return for network monopolies

Article – BusinessDesk

Oct. 30 (BusinessDesk) – The Commerce Commission has confirmed it is reducing the allowable rate of return on capital for regulated electricity and gas network monopolies in a move that Auckland network owner Vector says will place “further pressure … Read more »

RBNZ drops bias on higher rates; kiwi falls

Article – BusinessDesk

Oct. 30 (BusinessDesk) – Reserve Bank governor Graeme Wheeler kept the official cash rate at 3.5 percent, and toned down the prospect of higher interest rates as inflation remains unexpectedly low. The New Zealand dollar fell. Read more »

NZ dollar drops 1% as Fed more upbeat about US economy

Article – BusinessDesk

Oct. 30 (BusinessDesk) – The New Zealand dollar dropped 1 percent after the Federal Reserve was more upbeat about the outlook for the US economy than expected in its policy statement this morning, strengthening the greenback. Read more »

While you were sleeping: Fed ends asset purchases

Article – BusinessDesk

Oct. 30 (BusinessDesk) – Wall Street and US Treasuries fell, extending earlier losses, after Federal Reserve policy makers ended its monthly bond-buying program and signalled they saw sufficient underlying strength in the broader economy. Read more »

Souter launches ManaBus.com long-distance bus operator

Article – BusinessDesk

Oct. 29 (BusinessDesk) – Competition has increased in the long-distance bus market with the launch today of a new city-to-city express service, ManaBus.com. Read more »

Dorchester gets past 90% ownership threshold for Turners

Article – BusinessDesk

Oct. 29 (BusinessDesk) – Dorchester Pacific, the finance company, has reached the 90 percent threshold in its takeover of Turners Group, allowing it to mop up remaining shares in the car auction firm. Read more »

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