Article – BusinessDesk
By Paul McBeth
June 13 (BusinessDesk) – Reserve Bank governor Graeme Wheeler is trying to cushion the landing for the country’s over-heating property markets in Auckland and Christchurch, in an effort to avoid the pitfalls seen in the US. Read more »
Article – BusinessDesk
By Paul McBeth
June 13 (BusinessDesk) – Reserve Bank governor Graeme Wheeler is trying to cushion the landing for the country’s over-heating property markets in Auckland and Christchurch, in an effort to avoid the pitfalls seen in the US. Read more »
Article – BusinessDesk
By Paul McBeth
June 13 (BusinessDesk) – Reserve Bank governor Graeme Wheeler said he’s likely to keep the official cash rate at 2.5 percent through 2013, repeating his view that the kiwi dollar is overvalued and that he stands ready to intervene again if needed. Read more »
Article – BusinessDesk
June 13 (BusinessDesk) – Pyne Gould, the asset management firm controlled by George Kerr, says it will return to profit this year on gains from assets sales after an impairment-driven loss in 2012. Read more »
Article – BusinessDesk
June 13 (BusinessDesk) – Hallenstein Glasson Holdings, the clothing chain, said full-year profit may drop as much as 12 percent after a slow start to winter hurt returns from its Glasson stores in Australia, where rivals have cut prices aggressively. Read more »
Article – BusinessDesk
By Paul McBeth
June 13 (BusinessDesk) – The Reserve Bank is in a conundrum in dealing with an over-valued currency and property market where surging prices are starting to look like a bubble, either of which could force its hand to move interest rates. Read more »
Article – BusinessDesk
By Paul McBeth
June 13 (BusinessDesk) – Reserve Bank governor Graeme Wheeler kept the official cash rate at 2.5 percent and expects to stay put for the rest of the year as he balances the competing tensions of an “overvalued” currency and an overheating property market. The kiwi fell after the statement. Read more »
Article – BusinessDesk
By Paul McBeth
June 12 (BusinessDesk) – The New Zealand dollar was little changed in local trading as investors await Reserve Bank governor Graeme Wheeler’s response to a 6.1 percent slide in the currency against the greenback since his last review. Read more »
Article – BusinessDesk
June 12 (BusinessDesk) – The government’s proposed legislation to fast-track housing development in Auckland undermines local democracy, lacks adequate appeal provisions and is silent on the housing accord agreed between the city and the Beehive, Auckland Council says. Read more »
Article – BusinessDesk
By Tina Morrison
June 12 (BusinessDesk) – New Zealand’s government wants to trim “super profits” from land banking which it says is the biggest impediment to housing affordability in Auckland. Read more »
Article – BusinessDesk
June 12 (BusinessDesk) – Median house prices in Auckland, Canterbury/Westland and Nelson/Marlborough rose to a record last month, in the best national sales for May in six years, according to the Real Estate Institute. Read more »
Article – BusinessDesk
By Paul McBeth
June 12 (BusinessDesk) – Burger Fuel Worldwide, the fast food chain franchisor, boosted annual profit 55 percent as sales in the Middle East continued to surge. The company won’t pay a dividend as it builds up cash for investments. Read more »
Article – BusinessDesk
By Paul McBeth
June 11 (BusinessDesk) – Fonterra Cooperative Group, the world’s biggest dairy exporter, has set the guaranteed price in its pilot scheme at $7 per kilogram of milk solids for those farmer-shareholders wanting to lock in payment certainty for the 2014 season. Read more »
Article – BusinessDesk
By Paul McBeth
June 10 (BusinessDesk) – The New Zealand dollar held near an 11-month low after weak Chinese data eroded demand for the local currency and a strong US jobs report spurred support for the greenback. Read more »
Article – BusinessDesk
By Jonathan Underhill
June 10 (BusinessDesk) – Serco New Zealand, the local unit of the UK’s Serco Group, reaped a modest profit in the first full year of its $300 million, 10-year contract to run Mt Eden/Auckland Central Remand Prison for the Department of Corrections. Read more »
Article – BusinessDesk
By Tina Morrison
June 10 (BusinessDesk) – The New Zealand dollar may struggle for direction this week as investors weigh the possibility of a higher interest rate track in New Zealand against signs of recovery in the US. Read more »
Article – BusinessDesk
June 10 (BusinessDesk) – Postie Plus Group, the clothing retailer whose shares have fallen 29 percent this year, said third-quarter sales fell 14 percent after seasonal stock was disrupted by problems at its third-party distribution centre. Read more »
Article – BusinessDesk
By Tina Morrison
June 10 (BusinessDesk) – New Zealand property values held their annual pace of growth last month, as demand outstripped supply in Auckland and Christchurch, according to state valuer Quotable Value. Read more »
Article – BusinessDesk
(Fixes move against US dollar in 2nd graph) Read more »
Article – BusinessDesk
By Paul McBeth
June 7 (BusinessDesk) – The New Zealand dollar is heading for a 2.4 percent weekly drop as the trans-Tasman currencies fall out of favour amid growing signs of a slow-down in Australia and speculation the US Federal Reserve will pull back on printing money. Read more »
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