Sharemarket News

NZ dollar falls against Aussie after strong Oz jobs data
18 Apr, 5:30pm
The New Zealand dollar was little changed against most currencies but fell against the Australian dollar and the yen after figures showing stronger than expected jobs creation in March... More »

Helen Clark, Don McKinnon front NZ chapter of US think-tank
18 Apr, 5:20pm
Former Prime Minister Helen Clark and former Secretary-General for the Commonwealth, Sir Don McKinnon, are throwing their political capital and global profile behind the establishment of the New Zealand chapter of a respected US-based think tank, the Aspe... More »

Fuji Xerox auditor keeps name suppression due to reserved appeal decision
18 Apr, 3:46pm
The names of the auditors of Fuji Xerox’s New Zealand subsidiary remain suppressed after an appeal hearing against a decision by an accountants’ disciplinary tribunal... More »

ComCom to eye fuel profits by region, activity
18 Apr, 1:41pm
The Commerce Commission says its assessment of competition in the retail fuel industry will include whether some geographies or parts of the business are more profitable than others... More »

TIL Logistics director Kern steps down and sells out
18 Apr, 12:45pm
TIL Logistics director Greg Kern has resigned from the board effectively immediately and sold his remaining 5.2 percent stake. ... More »

Turners drops Buy Right Cars moniker in single brand strategy
18 Apr, 12:06pm
Turners Automotive has adopted a single-brand strategy for its used car network and will rebrand its Buy Right Cars in an effort to cut marketing costs and latch on to Turners Cars' high level of national recognition... More »

Mercury, Genesis signal weaker earnings on low lakes, gas shortage
18 Apr, 10:54am
On-going dry weather on the North Island has prompted Mercury NZ and Genesis Energy to lower their full-year operating earnings forecasts... More »

Wrightson gets OIO approval to sell seeds unit, still mulling size of return
18 Apr, 10:23am
PGG Wrightson has cleared the final hurdle to sell its seeds division to DLF Seeds for $434 million after securing Overseas Investment Office approval, but still hasn't figured out how much to return to shareholders... More »

Fletcher unit blows whistle on attempted price-fixing in Christchurch
18 Apr, 10:16am
The Commerce Commission has warned a Christchurch pipeline maintenance firm over attempted price-fixing after a Fletcher Building unit blew the whistle on two former staffers who shared pricing with a rival... More »

Tourism Holdings falls 24% on open after lowering guidance
18 Apr, 9:35am
Tourism Holdings shares fell 24 percent when trading opened after the company lowered its full-year earnings guidance by as much as 22 percent and said a decisive operation and capital review of its US operations is now under way.  ... More »

NZ dollar battered by weak domestic CPI, eyes on Australian data
18 Apr, 9:00am
The New Zealand dollar remained weak despite better-than-expected Chinese data helping lift risk sentiment... More »

Eat My Lunch plans $2m equity crownfunding campaign
18 Apr, 8:57am
Eat My Lunch, the “buy one, gift one” social enterprise supplying lunches for school kids, is looking to raise $2 million through crowdfunding platform PledgeMe... More »

Fitch says the major NZ banks may be facing weaker growth
18 Apr, 8:53am
Fitch Ratings says the major New Zealand banks may be facing weaker growth prospects due to rising borrowing rates and credit rationing as a result of the Reserve Bank’s proposals to near double the minimum amount of capital they have to hold... More »

Productivity Commission calls for submissions on the future of work
18 Apr, 8:44am
The Productivity Commission is calling for submissions to its study of the impact of technical change on the future of work... More »

MARKET CLOSE: NZX50 knocking on 10,000; retirement stocks Metlifecare, Summerset rally on ditched CGT
18 Apr, 8:42am
New Zealand shares hit a new record as retirement village operators including Summerset Group and Metlifecare rallied on the government's decision to ditch a capital gains tax. ... More »

NZ dollar dives on weak CPI data, cushioned by strong China data
17 Apr, 5:16pm
The New Zealand dollar was sharply lower but off its lows as positive economic data from China and euphoria over the government’s decision to can a capital gains tax helped cushion the impact of a weaker than expected inflation print... More »

Economists split on whether tepid CPI points to a May rate cut
17 Apr, 4:23pm
Economists are split as to whether today's tepid inflation data increases the odds for a May rate cut... More »

Challenging Milton Friedman
17 Apr, 4:04pm
It’s been almost 50 years since American economist Milton Friedman wrote his groundbreaking essay in the New York Times arguing that the social responsibility of business is to increase its profits... More »

Government rules out implementing capital gains tax
17 Apr, 2:09pm
The government has ruled out taxing capital gains as opposed to the wide-ranging proposal put forward by the majority of its Tax Working Group... More »

Chatham iwi may acquire stake in seafloor phosphate project
17 Apr, 1:12pm
Chatham Islands iwi groups may invest in a project to mine seafloor phosphates in the region if they can agree on a marine consent application for the project 450 kilometres east of Christchurch... More »