Corporate earnings beat expectations as US stocks hit fresh records

Corporate earnings beat expectations as US stocks hit fresh records
Jenny Ruth
Those in awe of global sharemarkets moving back into record highs may be somewhat reassured that, with 90 percent of S&P 500 companies having reported their September-quarter results, earnings are running well ahead of expectations.That also helps explain why US interest rates have rebounded in recent weeks, the yield on 10-year Treasuries, for example lifting from its 1.42 percent low in September to the still low rate of 1.93 percent on Friday, and why the Federal Reserve has likely done with cutting rates, at least for now.Fed chair Jero...

More Economy

NZIER's Shadow Board predicts RBNZ will hold, with one exception
Economy

NZIER's Shadow Board predicts RBNZ will hold, with one exception

The New Zealand Institute of Economic Research’s Shadow Board expects the Reserve Bank of NZ to hold the official cash rate at 5.5% for another year, although one member did call for a hike this week. “While inflation pressures are still high and the labour market remains strong,...

RBNZ could hint cuts may come sooner
Economy

RBNZ could hint cuts may come sooner

The RBNZ will announce its latest decision at 2pm on Wednesday. 

Briscoe Group says tax changes will hit FY net profit by $7.4m
Retail

Briscoe Group says tax changes will hit FY net profit by $7.4m

New legislation affects depreciation on commercial buildings.  

Rebecca Howard 05 Jul 2024
Core Crown tax revenue higher than expected in May accounts
Economy

Core Crown tax revenue higher than expected in May accounts

Government tax intake is $1.57 billion higher than forecast, according to the latest Crown accounts.Treasury released the interim financial statements for the 11 months ended May 31 on Wednesday morning, which showed core Crown tax revenue was $111.12b.This was 1.4% more than the...

Staff reporters 04 Jul 2024