Sharemarket News

BNZ names Anthony Healy as new CEO, replacing Thorburn
17 Apr, 11:10am
Bank of New Zealand, the local unit of Australia's third-biggest mortgage lender, named the head of its business bank, Anthony Healy, as its new chief executive... More »

Accelerated depreciation, buy Kiwi-made core of Labour manufacturing policy
17 Apr, 10:15am
The Labour Party has unveiled its pitch to the manufacturing sector, adding accelerated depreciation for advanced manufacturing and promising to target more government procurement from local firms... More »

NZ dollar drops to five-week low vs. sterling after upbeat UK employment report
17 Apr, 9:15am
The New Zealand dollar dropped to a five-week low against the British pound after UK unemployment fell more than expected and wage growth accelerated, turning investor attention to the possibility of higher interest rates... More »

KiwiSaver tax rates need fixing, world's 'most punitive', says savings lobby
17 Apr, 8:00am
New Zealand's tax system heavily penalises KiwiSaver while offering massive tax breaks to property investors and needs to change, says savings lobbyist the Financial Services Council... More »

While you were sleeping Yellen shows support
17 Apr, 7:45am
Wall Street rose after US Federal Reserve Chair Janet Yellen reassured investors that the central bank will continue with its easy money policy to bolster the US economic recovery... More »

NZ dollar falls to nine-day low after slower than expected inflation
16 Apr, 5:05pm
The New Zealand dollar dropped to a nine-day low after slower than expected inflation raised questions over the track of rising local interest rates... More »

Delegat's founder Jim Delegat to step back from daily operations
16 Apr, 3:35pm
Jim Delegat, founder of Delegat's Group, is stepping down from running the winemaker's daily operations to focus on the company's strategic direction... More »

NZ government scales back larger scale applications in Genesis Energy float
16 Apr, 3:25pm  1 comment
The government will progressively scale down applications for large shareholdings in Genesis Energy ahead of tomorrow's listing after the final partial privatisation in the current programme attracted 68,000 investors... More »

Diligent shares jump as first-quarter figures show growth slowing less than feared
16 Apr, 3:20pm
Diligent Board Member Services stock rose as much as 12 percent after the governance app developer posted quarterly figures showing sales growth hasn't slowed as much as some investors had expected... More »

NZ govt, Christchurch council target 700 new units, more affordable housing supply in accord
16 Apr, 12:55pm
The New Zealand government and Christchurch City Council want to add a net 700 social housing units in the country's second-largest city in two-and-a-half years and a bigger supply of affordable houses as part of a formal housing accord... More »

Imperial Tobacco's NZ arm lifts export sales to Australia; Philip Morris NZ boosts revenue
16 Apr, 12:50pm
Imperial Tobacco New Zealand, the nation's second largest cigarette company, boosted annual sales after expanding its Wellington factory to supply the Australian market and taking on a 10 percent excise tax hike... More »

Company linked to one of China's richest women to spend $200 mln on Auckland hotel
16 Apr, 11:20am
By Suze Metherell April 16 (BusinessDesk) - Fu Wah International Group, chaired by Chan Laiwa who is one of China's richest women, has agreed to build a new Auckland waterfront hotel worth... More »

NZ consumer prices rise 0.3 percent in 1Q on tobacco tax hike, more expensive housing
16 Apr, 11:00am
New Zealand consumer prices rose less than expected in the first quarter as a hike in tobacco taxes and more expensive housing were offset by cheaper international holidays and in-season vegetables. The kiwi dollar dropped on the data... More »

Bathurst raises A$7.93 million in discounted placement to help fund Escarpment mine
16 Apr, 10:25am
Bathurst Resources raised A$7.39 million in a discounted placement to institutional investors to help fund development of its Escarpment open-cut coal mine on the Denniston Plateau near Westport... More »

Chorus lifts broadband connections 1.1 percent in first quarter
16 Apr, 10:15am
Chorus, the network operator spun out of Telecom in 2011, increased its broadband connections by 1.1 percent in the first quarter while its fixed-line connections edged up 0.2 percent... More »

BlueScope Steel gets antitrust clearance to buy Fletcher's Pacific Steel
16 Apr, 10:00am
BlueScope Steel, Australia's largest steelmaker and owner of the New Zealand Steel mill, has gained antitrust approval to acquire the assets of Fletcher Building's Pacific Steel in a $120 million deal... More »

Coats chair Clasper to head GPG board
16 Apr, 9:25am
Mike Clasper, the chair of Coats, has been appointed chairman of the UK threadmaker's parent Guinness Peat Group as the group gets closer to completing its shift to a new entity... More »

NZ dollar weakens ahead of Chinese data which may show slowing economic growth
16 Apr, 9:20am
The New Zealand dollar weakened ahead of the release of Chinese data today which is expected to show a slowdown in Asia's largest economy, the country's largest trading partner. Locally, figures are expected to show inflation is accelerating... More »

Diligent’s pace of growth slows in 1Q, client retention dips on M and A activity
16 Apr, 9:20am
Diligent Board Member Services, the governance app developer which was forced to restate its financial statements, has slowed its pace of new customer growth in the first three months of the year, and had a small dip in client retention amid increased mer... More »

While you were sleeping Coca-Cola beats estimates
16 Apr, 8:10am
Wall Street advanced, spearheaded by gains in shares of Coca-Cola and Johnson & Johnson after both companies reported quarterly results that surpassed expectations, bolstering confidence about the outlook... More »