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RBNZ says no change in approach on AMP purchase

Article – BusinessDesk

July 18 (BusinessDesk) – The Reserve Bank says it hasnt changed its approach to applications for changes of ownership of life insurance companies and nor has there been any change in New Zealand insurance law or regulations since October 2018. Read more »

MARKET CLOSE: NZX50 hits record

Article – BusinessDesk

July 18 (BusinessDesk) – New Zealand shares outperformed Asia as companies offering reliable dividends helped lift the benchmark index to a record. Meridian Energy and Z Energy led the market higher. Read more »

NZ dollar mixed after strong Australian employment data

Article – BusinessDesk

July 18 (BusinessDesk) – The New Zealand dollar rose a little against the US dollar but fell slightly against the Aussie after reasonably strong jobs numbers in Australia provided no additional weight to the case for rate cuts there. Read more »

Energy efficiency key to lowering cost of renewables push

Article – BusinessDesk

July 18 (BusinessDesk) – A focus on energy efficiency will lower the cost of the countrys drive toward greater renewable energy use and may increase the scale of emission reductions achieved, the Energy Efficiency and Conservation Authority … Read more »

Paper recycling costs rising 35% as export markets collapse

Article – BusinessDesk

July 18 (BusinessDesk) – The price of trying to do the right thing by recycling paper just went up, with Oji Fibre Solutions announcing a 35 percent increase in the cost collecting a binful of used paper to stem the losses it’s suffering when it sends … Read more »

First Union leading rivals for biggest average pay claims

Article – BusinessDesk

July 18 (BusinessDesk) – Wage negotiations are becoming tougher, with the First Union leading the pack as it adopts more aggressive tactics to win higher than average wage settlements than competing unions, says Adelhelm & Associates in its 10th … Read more »

Fonterra to go coal-free 11 years ahead of schedule

Article – BusinessDesk

July 18 (BusinessDesk) – Dairy giant Fonterra Co-operative Group said it is shaving 11 years off its coal target, putting an immediate stop to installing any new coal boilers or increasing capacity to burn coal. Read more »

Huawei committed to NZ

Article – BusinessDesk

July 18 (BusinessDesk) – Huawei Technologies wont turn its back on New Zealand, even if it cant convince the government that its not a front for Chinese spies. Read more »

Mercury points to peaking gains as FY production drops 10%

Article – BusinessDesk

July 18 (BusinessDesk) – Mercury NZ says it relied on the peaking capacity of its Waikato hydro generation to capture high wholesale power prices in the June quarter. Read more »

Asset Plus sells Heinz Watties distribution centre

Article – BusinessDesk

July 18 (BusinessDesk) – Asset Plus has sold its Heinz Watties distribution centre in Hastings for $29.1 million to a property syndication which it will underwrite for a fee. Read more »

NZ dollar gains on weak US data, renewed trade concerns

Article – BusinessDesk

July 18 (BusinessDesk) – The New Zealand dollar gained on weak US housing data and renewed concerns about US-China trade tensions. Read more »

RBNZ’s key political omission in its bank capital proposals

Article – BusinessDesk

July 18 (BusinessDesk) – Motherhood and apple pie top most peoples lists of things that are unquestionably good. Read more »