Sharemarket News

RBNZ starts consulting on tougher rules for property speculators
5 Mar, 3:40pm
The Reserve Bank of New Zealand is stepping up preparations to restrict lending to residential property investors as it watches house prices, particularly in Auckland, which continue to rise strongly... More »

Fonterra ponders new bond offer for institutions and retail investors
5 Mar, 3:25pm
Fonterra Cooperative Group, the world's largest dairy exporter, is looking at raising an disclosed amount of new capital through a bond offer... More »

Vector chair Stiassny calls for regulatory change to incentivise electricity innovation
5 Mar, 3:05pm
Michael Stiassny, chairman of Auckland lines company Vector, says current regulation doesn’t incentivise the electricity sector to foster new technology into the market... More »

NZ could reap $190M/year benefit becoming first nation to allow beyond-line-of-sight drones
5 Mar, 2:55pm
Allowing drones to operate beyond the operator’s line of sight could provide economic gains of up to $190 million a year to New Zealand's farming, forestry and energy sectors, according to a report commissioned by Callaghan Innovation... More »

Open Country posts record annual profit on surge in sales, sees 'strong' 2015
5 Mar, 12:25pm
Open Country Dairy, the dairy manufacturer controlled by Talley's Group,  reported a record profit for 2014 as revenue growth outpaced rising cost of sales, and said it expects a "strong" result in 2015... More »

Bridges pushes NZ as 'most ready in the world' for electric cars
5 Mar, 11:50am
Transport and Energy Minister Simon Bridges has officials investigating ways to accelerate the uptake of electric vehicles, although is ruling out incentives or subsidies in what he says is "the most EV ready country in the world" because of New Zealand's... More »

Briscoe posts 17% gain in annual profit, in line with forecast
5 Mar, 11:45am
Briscoe Group, the homeware and sporting goods retail chain, posted a 17 percent gain in annual profit, in line with its forecast, as it widened margins on more efficient operations... More »

Don't wait for FTA before acting on India, says India-NZ business council chair
5 Mar, 10:00am
New Zealand companies looking to do business in India should move beyond a mutual love of cricket and not wait for a free trade agreement before seeking opportunities in the fast growing Indian economy, says Sunil Kaushal, chairman of... More »

Seeka post-harvest shed destroyed in fire, earnings likely to be unaffected
5 Mar, 9:20am
Seeka Kiwifruit Industries, the country's biggest kiwifruit grower, doesn't expect earnings to be materially affected by a fire that destroyed a shed at its Oakside post harvest site in Tauranga, with insurance likely to cover the costs... More »

NZ dollar hits new record vs. euro ahead of ECB quantitative easing
5 Mar, 8:45am
The New Zealand dollar rose to a record against the euro ahead of a European Central Bank meeting tonight where it's expected to detail plans for its quantitative easing programme starting this month... More »

While you were sleeping: Eyes on US jobs, ECB
5 Mar, 8:10am
Wall Street fell after a softer than expected private jobs report and a decline in oil prices, while stocks in Europe gained ahead of a European Central Bank gathering that should reveal more about its plans for additional monetary stimulus... More »

JPMorgan's NZ branch gets formal warning from central bank over lack of risk assessment plan in 2013
4 Mar, 5:45pm
JPMorgan Chase Bank's New Zealand branch have been given a formal warning by the Reserve Bank for a four-month period in 2013 when it didn't have appropriate risk assessment measures in place to meet anti-money laundering legislation... More »

MARKET CLOSE: NZ shares fall; Meridian, MRP, DNZ drop on weakening yield demand
4 Mar, 5:40pm
New Zealand shares fell, led by Meridian Energy and MightyRiverPower as demand abated for companies with dependable dividend streams. Warehouse Group rose ahead of reporting its earnings this week... More »

NZ dollar little changed as Australian GDP shows healthy household consumption
4 Mar, 5:15pm
  The New Zealand dollar was little changed after figures showed Australia's economy got a boost from increased consumer spending, offsetting the decline in its resources sector... More »

AsureQuality posts 5% drop in 1H profit as costs rise; expects to beat FY target
4 Mar, 2:20pm
AsureQuality, the state owned food testing company, posted a 5 percent drop in first half profit, reflecting higher operating costs to develop future revenue streams and higher interest costs... More »

Carter Holt cladding 'inherently defective', appeal court hears
4 Mar, 2:10pm
Carter Holt Harvey's cladding sheets and systems used through 880 school buildings were "inherently defective" and the Ministry of Education is entitled to sue the building products maker, the Court of Appeal heard today... More »

Kordia turns to profit in 1H as Australian business improves
4 Mar, 2:00pm
Kordia Group, the broadcasting and telecommunications network operator, turned to a profit in the first half on an improved performance at its Australian business... More »

Rex Bionics widens full-year loss as commercialisation costs rise
4 Mar, 1:50pm
Rex Bionics Plc, the New Zealand company listed on the London Stock Exchange's AIM market, said higher costs to commercialise its robotic exoskeletons widened its full year loss to 3.56 million pounds from 480,000 pounds a ye... More »

NZ government launches Ageing Well, the latest national science challenge
4 Mar, 12:35pm
Science and Innovation Minister Steven Joyce has launched the Ageing Well National Science Challenge, one of 11 planned by the government to tackle the country’s biggest science based issues... More »

NZ residential building activity rises 4.3% in 4th-qtr, driven by Canterbury
4 Mar, 11:35am
New Zealand residential building activity rose for the first time in three quarters in the final three months of 2014, led by earthquake related rebuilding work in Canterbury... More »