Sharemarket News

Treasury rejects autopsy on South Canterbury Finance collapse
12 Mar, 2:40pm
The Treasury hasn't analysed its dealings with South Canterbury Finance or formally reviewed the lessons learned from the retail deposit guarantee, which is expected to cost the taxpayer as much as $1.1 billion, despite the Auditor-General recommending th... More »

GTL Energy’s NZ unit, with option on Solid Energy’s idled briquette plant, posts wider loss
12 Mar, 1:20pm
The New Zealand unit of Australia's GTL Energy posted a wider loss last year, reflecting its share of costs to develop Solid Energy's now-idled Mataura briquette plant... More »

NZ short-term accommodation trend flattens in January
12 Mar, 11:50am
New Zealand guest nights spent in short term commercial accommodation barely budged in January as an increase in hotel stays was offset by a drop for motels, backpacker and holiday park stays... More »

Bridgecorp receiver cuts $18.9 mln settlement with directors, insurer
12 Mar, 11:40am
The receiver for Bridgecorp has reached a deal with the former directors and insurer of the failed lender, which will boost the payout to investors by 4 cents in the dollar... More »

Trade Me may reap $22.5M more real estate ad revenue by hiking fees, fending off rivals
12 Mar, 9:25am
Trade Me Group will probably succeed in forcing real estate agents to accept higher fees, adding $22.5 million of property advertising revenue by 2017 as it pushes back on a challenge from smaller, industry-owned rival realestate.co.nz... More »

NZ TWI rises to post-float record, raising chances RBNZ’s Wheeler will talk down the kiwi tomorrow
12 Mar, 9:20am
The trade-weighted index, which measures the New Zealand dollar relative to the currencies of major trading partners, rose to a post-float record, prompting speculation Reserve Bank governor Graeme Wheeler will try to talk down its value when he announces... More »

Skellerup reaches $32.3 mln settlement with insurers over Canterbury quake claims
12 Mar, 9:20am
 Skellerup, the industrial rubber goods maker, has reached a $32.3 million settlement with insurers over claims from the Canterbury earthquakes in 2010 and 2011 which prompted the relocation of its Christchurch manufacturing facility... More »

While you were sleeping Wall Street declines
12 Mar, 8:05am
Wall Street slid amid ongoing concern about an international standoff in Ukraine, while copper continued its slump because of worries about the slowing pace of growth and more corporate bond defaults in China... More »

Metlifecare sees annual earnings growth of up to 18 percent
11 Mar, 5:20pm
Metlifecare, the retirement village operator which counts the New Zealand Superannuation Fund and Infratil as cornerstone investors, sees annual earnings growth of up to 18 percent provided current trading conditions stay in place... More »

NZ dollar gains ahead of RBNZ statement seen as kicking off tightening cycle
11 Mar, 5:15pm
The New Zealand dollar gained in local trading on expectations the Reserve Bank will hike the official cash rate at this Thursday's policy review, kicking off a prolonged tightening cycle... More »

Environmental groups call for postponement of seabed mining application
11 Mar, 4:15pm
Environmental groups are calling for the postponement of TransTasman Resources' application to mine ironsands in the Exclusive Economic Zone off the coast from Patea, claiming the company has not taken all relevant considerations into account... More »

Solid Energy names Glencore's Dan Clifford as CEO after year-long search
11 Mar, 2:35pm
Solid Energy, the unprofitable state-owned coal miner, has named an Australian mining manager at Glencore Xstrata as its chief executive after a year-long search following the departure of Don Elder... More »

Feedback sought on plan to give all businesses a single ID for government dealings
11 Mar, 2:20pm
The government is seeking feedback on the practicalities and privacy issues arising from its move to give all businesses, including charities, partnerships and sole traders, a single identifying number for dealings with state agencies... More »

Postie Plus expects narrower annual loss; first-half sales slide 9.9 percent
11 Mar, 1:15pm
Postie Plus, whose shares have plunged 44 percent over the past 12 months, expects to narrow its annual loss as it tries to revive profitability... More »

NZ spending on credit, debit cards rises in February
11 Mar, 11:50am
New Zealanders spent more on their credit and debit cards in February, fuelled by spending on hospitality, while durables and apparel rebounded from declines in January... More »

UPDATE Chorus shares slip after 'pragmatic' deal with Crown Fibre
11 Mar, 11:10am
Shares in Chorus slipped after the telecommunications network operator said it reached an initial deal with Crown Fibre Holdings to manage cash flow and provide more certainty for the ultrafast broadband roll-out... More »

Tax take continues to fall short, pushing government finances to higher deficit
11 Mar, 10:30am
The New Zealand government's operating deficit was wider than expected in the first seven months of the 2014 financial year, with a smaller tax take than forecast and lower than anticipated tobacco excise duty... More »

NZ property sales fall 7.6 percent in February as restrictions on high debt lending bite
11 Mar, 10:15am
New Zealand property sales fell 7.6 percent in February from a year earlier, which may indicate restrictions on high-debt lending are hindering first-home buyers, according to the industry body representing real estate agents... More »

No extra funding for Chorus in UFB deal with Crown Fibre
11 Mar, 9:15am
Chorus won't get any additional government funding from Crown Fibre Holdings as part of a deal to help the telecommunications network operator manage cash flow and provide more certainty for the ultrafast broadband roll-out... More »

NZ dollar touches month-high vs. sterling after BOE talks down currency
11 Mar, 8:50am
The New Zealand dollar touched a month-high against the British pound after a Bank of England official talked down the value of sterling... More »