Sharemarket News

NZ dollar gains as RBNZ lifts rates, sees faster economic growth
24 Apr, 5:10pm
The New Zealand dollar gained against other currencies after Reserve Bank governor Graeme Wheeler raised the official cash rate as expected, while lifting his estimate for economic growth in the March year to 3.5 percent... More »

Deloitte says Hawke’s Bay council’s Ruataniwha scheme assumptions are ‘reasonable’
24 Apr, 4:40pm
A Deloitte review of the Hawke's Bay Regional Council's proposed $80 million investment in the $265 million Ruataniwha Water Storage Scheme is satisfied with the business plan, provided uptake by users is timely... More »

UPDATE Southern Cross Forest attracts foreign, local interest, receiver says
24 Apr, 2:00pm
Financially stricken wood processor Southern Cross Forest Products has attracted both local and international interest from potential buyers, and its receiver hopes to progress the sale next month... More »

Southern Cross Forest receiver to close sawmill, wind up Australian business
24 Apr, 11:55am
The receiver for Southern Cross Forest Products plans to shut one of the failed wood processor's sawmills and wind up the unprofitable Australian business as it continues to find a buyer for the business... More »

Brownlee takes hard-hitting rebuild report on the chin
24 Apr, 11:45am
 An in-depth survey of senior leaders in the Christchurch rebuild indicates growing impatience and serious weaknesses in the way major projects are being procured and managed... More »

CORRECT Chorus faces up to $10 mln earnings hit in 2014 from latest regulator pricing decision
24 Apr, 11:00am
Chorus, the telecommunications network operator, expects 2014 earnings will be as much as $10 million lower after the Commerce Commission pressed ahead with a decision to lower the price of another component on the company's copper lines, and backdate the... More »

FMA investigates whether banks breached financial markets laws on interest rate swaps to farmers
24 Apr, 10:15am
The Financial Markets Authority, New Zealand's markets watchdog, is investigating whether the sales and marketing of interest rate swaps by major banks to rural customers may have breached financial markets laws... More »

Chorus faces up to $10 mln earnings hit in 2014 from latest regulator pricing decision
24 Apr, 10:10am
Chorus, the telecommunications network operator, expects 2014 earnings will be as much as $10 million lower after the Commerce Commission pressed ahead with a decision to raise the price of another component on the company's copper lines, and backdate the... More »

Abano mulls rebel shareholder request for meeting, affirms support for Janes
24 Apr, 9:25am
Abano Healthcare Group is mulling the extraordinary general meeting request from rebel shareholders Peter Hutson and James Reeves who want to dump Trevor Janes as chairman and refresh the board... More »

Wheeler hikes OCR to 3 percent on inflationary pressures, eyes kiwi influence on import prices
24 Apr, 9:15am
Reserve Bank governor Graeme Wheeler lifted the official cash rate for the second time in as many months, saying non-tradable inflationary pressures were "becoming apparent" in an economy that's picking up pace and he's watching the impact of a strong kiw... More »

While you were sleeping Wall Street slips
24 Apr, 8:25am
 Wall Street fell as disappointing earnings from companies including AT&T made investors cautious in a market trading near record highs... More »

Equity crowd funding, latest step in much-hyped social capital, carries risks, high failure rate
23 Apr, 2:10pm
Equity crowd funding, which became legal in New Zealand this month, comes with a high risk of failure based on figures showing existing forays into social capital have a success rate of less than 50 percent, one new entrant says... More »

McDonald's NZ lifts annual sales by 5.8 percent in year of Georgie Pie relaunch
23 Apr, 12:45pm
McDonald's Restaurants (New Zealand), the local arm of the world's largest fast food chain, had a 5.8 percent gain in sales in 2013, the year it relaunched the Georgie Pie brand after a decade-long hiatus... More »

NZ migration rises to 11-year high in March as fewer kiwis leave for Australia
23 Apr, 12:35pm
New Zealand migration rose to an 11-year high in March, the second-highest gain on record, as fewer kiwis left for Australia... More »

Millennium and Copthorne mulls capital return if First Sponsor float proceeds
23 Apr, 9:35am
Millennium & Copthorne Hotels New Zealand, which operates 22 hotels across the country, is mulling a capital return if the float of Chinese investment First Sponsor Group goes ahead... More »

NZ dollar rises above 86 US cents as investors chase yield
23 Apr, 9:35am
The New Zealand dollar rose above 86 US cents overnight, as investors seeking higher yields anticipate a rise in the nation's benchmark interest rate tomorrow... More »

While you were sleeping Drug deals bolster sentiment
23 Apr, 8:25am
A raft of merger and acquisition activity in the global drug sector helped underpin equities on both sides of the Atlantic, as did better-than-expected earnings from companies including Netflix and Travelers... More »

NZ dollar edges up as local trading resumes, RBNZ rate review eyed
22 Apr, 5:10pm
The New Zealand dollar edged up as local trading resumed after the Easter holiday, with investors eyeing Thursday's monetary policy review when interest rates are expected to be hiked for a second time in as many months... More »

Warehouse shares jump to six-week high after Craigs upgrades recommendation to buy
22 Apr, 1:15pm
Shares in Warehouse Group, New Zealand's largest publicly listed retailer, rose to a six-week high after the stock was upgraded to 'buy' at brokerage Craigs Investment Partners... More »

Air NZ, Singapore Airlines codeshare gets Singapore regulator tick
22 Apr, 9:45am
The proposed codeshare between Air New Zealand and Singapore Airlines has been given the all clear from Competition Commission Singapore, meaning the accord is now subject only to sign-off from New Zealand's transport minister... More »