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RBNZ chief economist McDermott leaving central bank

Article – BusinessDesk

Dec. 18 (BusinessDesk) – Reserve Bank chief economist John McDermott will be leaving the bank next year to join the economic research institute Motu as an executive director. Read more »

Fletcher meets expectations with US$840m Formica sale

Article – BusinessDesk

Dec. 18 (BusinessDesk) – Fletcher Building says it has sold the Formica business for US$840 million, or NZ$1.226 billion, to Netherlands-based Broadview and will resume paying dividends. Read more »

Bell Gully to abandon Vero Centre for One Queen Street

Article – BusinessDesk

Dec. 18 (BusinessDesk) – Precinct Properties is gaining Bell Gully as a tenant for its Commercial Bay development some time between the year ending June 2023 and 2025 and the law firm will leave a five-floor vacancy at Kiwi Property Groups Vero … Read more »

OceanaGold cleared to continue Waihi operations

Article – BusinessDesk

OceanaGold has been granted consent to extend mining at its Waihi site by about 12 years. Read more »

Fletcher meets expectations with US$840m Formica sale

Article – BusinessDesk

Fletcher Building says it has sold the Formica business for US$840 million, or NZ$1.226 billion, to Netherlands-based Broadview. Read more »

NZ dollar edges back above US68c

Article – BusinessDesk

Dec. 18 (BusinessDesk) – The New Zealand dollar edged back above 68 US cents ahead of today’s local business confidence survey, which has remained in the doldrums despite relatively robust economic growth. Read more »

MBIE spying on political parties ‘affront to democracy’: SSC

Article – BusinessDesk

The “very close relationship” between the government’s exploration regulator and private security firm Thompson & Clark led the agency to become involved in surveillance activity involving two political parties – the Green and Mana parties, an inquiry … Read more »

MARKET CLOSE: NZ shares follow Asian rally

Article – BusinessDesk

Dec. 17 (BusinessDesk) – New Zealand shares rallied late in the trading session to follow Asian markets higher, led by export-focused firms including Fisher & Paykel Healthcare and A2 Milk. Read more »

Finance companies buoyed by tighter bank lending – KPMG

Article – BusinessDesk

Dec. 17 (BusinessDesk) – Non-bank lenders are filling the gap left by their licensed and larger counterparts imposing tighter credit criteria, with bigger loans books and rising profits in 2018, KPMG’s latest survey shows. Read more »

PM never saw Peters’ pro-US speech before delivery

Article – BusinessDesk

Dec. 17 (BusinessDesk) – Prime Minister Jacinda Ardern says her deputy and Foreign Minister, Winston Peters, did not show her the speech he gave last weekend in Washington DC where he appeared to shift New Zealand’s positioning in the Pacific region more … Read more »

NZ dollar hovers near 3-week low ahead of GDP, Fed statement

Article – BusinessDesk

Dec. 17 (BusinessDesk) – The New Zealand dollar stuck to a tight range near a three-week low ahead of key events later this week. Read more »

NZSA says Vital Healthcare’s manager is overstepping

Article – BusinessDesk

Dec. 17 (BusinessDesk) – Vital Healthcare Property Trusts manager appears to be overstepping the mark in trying to sway investors into supporting the managers resolutions and voting against those proposed by rebel investors, according to the … Read more »

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