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Walmart US boss flies home as incoming Air NZ CEO

Article – BusinessDesk

Air New Zealand has appointed Greg Foran, currently chief executive of Walmart US, as its new CEO from early next year. Read more »

Michael Hill Q1 sales rise 9.7%

Article – BusinessDesk

Jeweller Michael Hill International reported a 9.7 percent lift in September-quarter sales but said margin compression continues. Read more »

Sky fightback sees it keep Cricket World Cup rights

Article – BusinessDesk

Sky Network Television bounced back from yesterday’s loss of the domestic cricket broadcasting rights with a deal that will see it keep world cup coverage for the next four years. Read more »

NZ dollar falls against British pound

Article – BusinessDesk

The New Zealand dollar tumbled against the British pound after Ireland’s prime minister said a Brexit deal by Oct. 31 is possible. Read more »

MARKET CLOSE: NZ shares fall; Sky routed

Article – BusinessDesk

New Zealand shares fell as Sky Network Television was routed by the loss of its rights to broadcast domestic cricket matches, the stock slumping to an all-time low in heavy trading. Read more »

NZ dollar rises as US-China trade negotiations dominate

Article – BusinessDesk

The New Zealand dollar firmed slightly after being batted hither and yon by news reports emanating from the China-US trade negotiations. Read more »

ASB sells Aegis investment administrator to MMC

Article – BusinessDesk

ASB Bank says it has sold its investment administration and custody business Aegis to MMC, a specialist outsourcing and investment administration business based in Auckland, for an undisclosed sum. Read more »

Directors urged to improve understanding of climate change

Article – BusinessDesk

Company directors are not as aware of climate change challenges as they should be and risk leaving their firms insufficient time to respond, says Karen Silk, deputy chair of the Sustainable Business Council. Read more »

Consumers face steeper meat prices

Article – BusinessDesk

New Zealand consumers are getting squeezed as Chinese buyers scour the world for animal protein, pushing up prices after African Swine Fever decimated Asia’s pork industry. Read more »

Memo to Oz-owned banks: resistance on IRB models is futile

Article – BusinessDesk

The big four Australian-owned banks ought to have realised in February that it was futile to resist the Reserve Bank’s intention to severely restrict the competitive advantage they gain from using their own internal models to calculate capital. Read more »

Sky shares plunge as Spark steals cricket rights

Article – BusinessDesk

Sky Network Television shares plunged below $1 for the first time in its 21 years as a listed company after Spark New Zealand pulled the rug out from under the pay-TV operator in securing cricket broadcasting rights. Read more »

Risk frameworks need ‘fundamental rethink’ on climate

Article – BusinessDesk

New Zealands risk and resilience frameworks need a fundamental rethink if communities are going to adapt to the greater potential risks arising from climate change, Local Government New Zealand says. Read more »

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