NZ dollar falls to two-month low vs Aussie

Article – BusinessDesk

July 20 (BusinessDesk) – The New Zealand dollar fell to a two-month low against a resurgent Australian dollar which reached a two-year high overnight as the price of iron ore rallied. Read more »

Fletcher CEO Mark Adamson to step down

Article – BusinessDesk

July 20 (BusinessDesk) – Fletcher Building chief executive Mark Adamson has stepped down, with Francisco Irazusta named as interim replacement, and chairman Ralph Norris says the board deemed it the right time for new leadership. The announcement came … Read more »

While you were sleeping: Wall St hits record highs

Article – BusinessDesk

July 20 (BusinessDesk) – Wall Street gained, with the S&P 500 and the Nasdaq touching record highs, amid optimism about US corporate earnings. Read more »

GeoOp plans two-for-one share consolidation to boost price

Article – BusinessDesk

GeoOp plans two-for-one share consolidation to boost price for ASX listing By Jonathan Underhill Read more »

MARKET CLOSE: NZ shares at record, Westpac and ANZ lead

Article – BusinessDesk

July 19 (BusinessDesk) – New Zealand shares rose to a fresh record, led by Westpac Banking Corp and Australia & New Zealand Banking Corp on positive regulatory news out of Australia, while Contact Energy fell after weaker monthly statistics. Read more »

NZ dollar falls vs Aussie, gains against greenback

Article – BusinessDesk

July 19 (BusinessDesk) – The New Zealand dollar extended its slide against the Aussie but some market participants say it may reverse course and rise in the medium term if the Reserve Bank begins raising interest rates ahead of its counterpart across … Read more »

UK fund’s A$200M investment commitment validates Powerhouse

Article – BusinessDesk

July 19 (BusinessDesk) – London Stock Exchange-listed IP Group’s decision to invest A$200 million over 10 years in commercialising scientific innovations from universities Down Under validates the business model of ASX-listed tech incubator Powerhouse Ventures, … Read more »

FMA and KiwiSaver managers

Article – BusinessDesk

July 19 (BusinessDesk) – The Financial Markets Authority has confirmed it will allow KiwiSaver fund managers to use two different methods to show how much they are charging people to manage their funds, with both able to provide investors with the information … Read more »

Maori settlement groups achieve higher returns on assets

Article – BusinessDesk

July 19 (BusinessDesk) – Maori iwi groups that have received settlements from the Crown achieved a higher average return on assets than New Zealand’s biggest listed companies, but paid out a lower level of dividends, according to research by ANZ … Read more »

Labour’s alternative Budget reprioritises $17bn

Article – BusinessDesk

July 19 (BusinessDesk) – A Labour Party-led government would rejig tax and spending priorities to redirect $17 billion over four years to build up public health and education, put an extra 1,000 police on the beat and boost low and middle-income … Read more »

RBNZ says no need for prescriptive requirements

Article – BusinessDesk

July 19 (BusinessDesk) – Cyber-attack poses a significant threat to the global financial system but the Reserve Bank has decided not to introduce more prescriptive requirements at this stage due to the swiftly changing nature of both the threats and the technology, … Read more »

Slingshot powers higher in Auckland

Article – BusinessDesk

July 19 (BusinessDesk) – Slingshot, owned by ASX-listed telecommunications company Vocus Communications New Zealand, was the top growing power company in Auckland last month, despite not being officially launched and only selling power to existing broadband … Read more »

NZ dollar gains as US healthcare reform stumbles

Article – BusinessDesk

July 19 (BusinessDesk) – The New Zealand dollar rose against a broadly weaker greenback in the face of the collapse of a bill to reform US healthcare that eroded confidence in US President Donald Trump’s ability to enact policy. Read more »

While you were sleeping: Goldman drops, Netflix jumps

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Dairy product prices edge higher, butter continues its climb

Article – BusinessDesk

July 19 (BusinessDesk) – Dairy product prices rose at the Global Dairy Trade auction, gaining for the first time in three auctions, with butter outpacing the other commodities amid strong consumer appetite for natural, full-fat products. Read more »

F&P Healthcare’s Gradon sells almost one third of his shares

Article – BusinessDesk

July 18 (BusinessDesk) – Fisher & Paykel Healthcare managing director Lewis Gradon sold almost one third of his shares in the medical device maker, raising about $3.1 million to help buy a house. Read more »

MARKET CLOSE: NZX50 at record

Article – BusinessDesk

July 18 (BusinessDesk) – New Zealand shares hit a record as weaker CPI numbers bolstered shares, with dividend stocks like Mercury New Zealand and Trustpower benefiting. Read more »

Electricity retailers seek ‘ring-fencing’ of competition

Article – BusinessDesk

July 18 (BusinessDesk) – Electricity retailers are urging regulators to ‘ring-fence’ solar, battery and other emerging technology businesses being pursued by monopoly electricity network owners to allow competition in new electricity services to flourish. Read more »

NZ dollar falls vs Aussie, ‘parity party cancelled’

Article – BusinessDesk

July 18 (BusinessDesk) – The New Zealand dollar took a tumble against the Australian dollar after weak domestic inflation contrasted sharply with a more upbeat economic outlook from the Reserve Bank of Australian in the minutes of its last meeting. Read more »

Serko sees jump in 1H trading revenue

Article – BusinessDesk

July 18 (BusinessDesk) – Online travel booking software firm Serko said it expects first half trading revenue to be 25 percent to 30 percent higher on the year, excluding gains or losses on Australian dollar revenue hedging, and reiterated it is expecting … Read more »