NZ budget highlights fiscal flexibility & shock absorption

Press Release – Moody’s Investors Service

Singapore, May 30, 2017 — Moody’s Investors Service says that New Zealand’s (Aaa stable) budget for the fiscal year ending June 2018 (2017 budget) demonstrates very strong public finances, underpinned by ongoing fiscal discipline and robust economic … Read more »

Blis Technologies says orders still impacted

Article – BusinessDesk

May 29 (BusinessDesk) – Blis Technologies says regulatory processes surrounding ownership changes in a key customer are continuing to impact orders but it remains upbeat about its market opportunities, particularly in China, and expects to deliver a profit … Read more »

AWF Madison bounces back from 2016 dip

Article – BusinessDesk

May 26 (BusinessDesk) – AWF Madison Group, the country’s biggest contract labour firm, has recovered from last year’s dip in earnings with a 13 percent increase in annual profit in an increasingly tight labour market. Read more »

Foreign exchange market Global Code of Conduct supported

Press Release – New Zealand Financial Markets Association

The New Zealand Financial Markets Association today announced its full support for the new Global Code of Conduct for the Foreign Exchange Market. Read more »

While you were sleeping: Wall St ticks higher

Article – BusinessDesk

May 25 (BusinessDesk) – Wall Street moved higher as investors eyed minutes from the latest Federal Reserve meeting, slated for release on Wednesday afternoon, for fresh clues on the outlook for interest rate increases. Read more »

Rex Bionics shareholders agree to watered down stake

Article – BusinessDesk

May 23 (BusinessDesk) – Rex Bionics investors have backed a deal that will see their investment diluted to little more than a third of the company in exchange for a A$10 million lifeline by Australian fund manager and fellow shareholder BioScience Managers. Read more »

Serko shares climb to 6-month high as annual loss shrinks

Article – BusinessDesk

May 23 (BusinessDesk) – Serko shares jumped to a six-month high after the online travel booking software firm said it boosted sales and scaled back spending, allowing it to almost halve its annual loss and affirm its target of making a profit in 2018. Read more »

Are stock markets worried about US politics?

Article – CMC Markets

The next few days should reveal whether equity markets are going to carry any risk premium for the uncertainty about the US politics that was worrying traders last week. The relief rally in the US S&P 500 has seen it recover to within 0.5% of … Read more »

Ebos to buy Australia’s HPS, expanding pharmacy footprint

Article – BusinessDesk

May 23 (BusinessDesk) – Ebos Group, the pharmaceutical and animal health products maker, has entered a binding agreement to acquire HPS, Australias largest provider of outsourced pharmacy services to hospitals, for A$154 million. Read more »

Fintech start-ups coy about asking for money at demo day

Article – BusinessDesk

May 22 (BusinessDesk) – Seven financial technology start-ups pitching ideas after a three-month accelerator programme drew a big crowd to their demonstration day in Wellington but were strangely coy in actually asking for capital despite two already … Read more »

2017 INFINZ Awards Winners

Press Release – INFINZ

The 2017 INFINZ Industry Awards were celebrated on Thursday 18 May at a gala black-tie dinner at The Langham Hotel in Auckland. A record 820 guests enjoyed an evening to celebrate excellence in the capital markets industry in New Zealand. Read more »

Rakon full-year loss widens

Article – BusinessDesk

May 18 (BusinessDesk) – Rakon posted a wider full-year loss after sales fell 16 percent and the company recognised an impairment against its Centrum Rakon India joint venture. Read more »

Chaos at the White House sparks market meltdown

Article – CMC Markets

After largely ignoring the shenanigans in Washington for months, markets panicked overnight. The rolling series of scandals and the now real possibility of impeachment put in doubt all the potential benefits of the new administrations policies. The … Read more »

Questions over Trump’s fiscal policy weigh on US rate outlook

Article – BusinessDesk

May 18 (BusinessDesk) – The New Zealand dollar gained on speculation there will be less need to raise interest rates in the US because the Trump administration is too distracted by imbroglios such as the firing of the Federal Bureau of Investigation … Read more »

Infratil Results for year ended 31 March 2017

Press Release – Infratil

Infratil’s consolidated underlying EBITDAF from continuing operations was $519.5 million up 12.4% from the $462.1 million reported in 2016. Net parent surplus was $66.1 million compared to $438.3 million in the prior period which benefited from … Read more »

While you were sleeping: Wall St sinks on Trump

Article – BusinessDesk

May 18 (BusinessDesk) – US Treasuries gained, while Wall Street and the greenback fell, amid concern that the political firestorm surrounding President Donald Trump means he wont be able to deliver on his plans for tax and regulation cuts. Read more »

Risk Off Mode Amid Investors While Trump Engulfed In Turmoil

Press Release – ThinkMarkets

Today is a risk off trade for investors as Mr Trump is badly engulfed by political turmoil. This has pushed the demand for safe haven and we are seeing increasing interest for the yellow metal. What investors are worried about is that the impeachment could … Read more »

Methven shares drop to 15-month low on profit warning

Article – BusinessDesk

May 16 (BusinessDesk) – Methven shares fell to a 15-month low after the company said it expects annual profit will fall by as much as 15 percent after steady investment didn’t deliver the anticipated growth for the listed shower and tapmaker. Read more »

Silver Fern Farms’ Share Price Tanks

Press Release – New Zealand First Party

With the axe hanging over Silver Fern Farms Fairton plant and a tanking share price, NZ First is asking if the half-Chinese owned co-operative is being setup for a full takeover. Read more »

Xero director sells down stake to raise funds for charity

Article – BusinessDesk

May 16 (BusinessDesk) – Xero director Craig Winkler, who founded rival accounting software firm MYOB, says he sold down his stake in the cloud-based software firm as part of a 10-year plan to liquidate assets to fund philanthropic pursuits. Read more »

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