MARKET OPEN: Choppy offshore leads may keep investors sidelined

MARKET OPEN: Choppy offshore leads may keep investors sidelined
Rebecca Howard
Investors may be subdued after the US Federal Reserve said the covid-19 crisis will weigh heavily on economic activity, employment and inflation in the near term. The Fed, in its first economic forecasts since December, said it expects the US economy to contract 6.5 percent and unemployment to hit 9.3 percent by the end of the year. Not only that, but the ongoing health crisis “poses considerable risks to the economic outlook over the medium term,” it said. The unemployment rate is projected to be 6.5 percent in 2021 and 5.5 percent in...

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Volatile stocks drive NZ sharemarket down nearly 0.5%
Markets Market Close

Volatile stocks drive NZ sharemarket down nearly 0.5%

The S&P/NZX 50 Index closed at 12.844.59, declining 60.45 points or 0.47%.

Graham Skellern 05 Feb 2025
Lyttelton Port result improves but CEO says it's not enough
Infrastructure

Lyttelton Port result improves but CEO says it's not enough

The CEO says Lyttelton Port does not generate sufficient returns on its capital base. 

Rebecca Howard 05 Feb 2025
Sky CFO Ciara McGuigan resigns in surprise departure
Markets

Sky CFO Ciara McGuigan resigns in surprise departure

Embattled broadcaster Sky TV is losing its chief financial officer with immediate effect.The pay-TV operator, facing a barrage of customer anger over poor satellite reception in recent weeks, announced the resignation of Ciara McGuigan on Wednesday.Her departure, effective immedi...

Staff reporters 05 Feb 2025
Ex-contractors reveal Harvey Norman business model pressures
Retail Exclusive

Ex-contractors reveal Harvey Norman business model pressures

The promise of big money can require extreme flexibility from ‘proprietors’.

Gregor Thompson 05 Feb 2025