MARKET OPEN: Chinese economic data may keep trading tentative

MARKET OPEN: Chinese economic data may keep trading tentative
Rebecca Howard
A small rise on Wall Street may set the tone for tentative domestic trading while China’s economic data will be the key focus today. The Dow Jones Industrial Average was up 0.1 percent at 8am in Wellington, while the S&P 500 was up 0.6 percent. The Nasdaq rose 1.7 percent, benefiting from gains in Amazon.com and Netflix Inc as lockdowns stoke demand for their online services. Overall, weak US data weighed on investor sentiment as a record 22 million Americans filed for unemployment benefits over the past month, with 5.2 million filing in...

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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,...

Rebecca Howard 08 Jul 2024
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. 

Rebecca Howard 08 Jul 2024
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