NZ dollar gains against Aussie as OCR cut expectations wane

Jenny Ruth
Fri, 08 Nov 2019

The New Zealand dollar rose against the Australian dollar as traders became less certain that the Reserve Bank will cut interest rates next week and after Australia's central bank cut its growth and inflation forecasts. The kiwi was trading at 92.46 Australian cents at 5:05pm in Wellington from 92.08 at 7:50am. It was unchanged at 63.63 US cents, but well down from the close in New York last Friday at 64.26 cents. "The market's going, 'maybe we should be a bit more circumspect'" about the chances the RBNZ will cut its official cash rate a...
Coronavirus
Southern Cross Travel to shed 45 jobs
Brent Melville | Tue, 02 Jun 2020

Southern Cross Travel Insurance plans to cut half of its remaining workforce in the wake of limited travel under covid-19 restrictions, although the rest of the group remains unscathed. The company...

Markets
MARKET CLOSE: NZ shares soar as investors get FOMO
Dan Brunskill | Tue, 02 Jun 2020

New Zealand shares rose as investors found confidence in the Prime Minister bringing forward a decision about the move to alert level 1. Tourism Holdings and Gentrack led the market higher with double...

Property
Metlifecare seeks shareholder support for action against ex-suitor, EQT
Paul McBeth | Tue, 02 Jun 2020

Metlifecare will seek shareholder support to pursue litigation against its former suitor after the High Court rejected an application that would have preserved a shareholder vote on the teetering $1.5...

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Telcos in lockdown, and beyond

Geoff Thorn, CEO, NZ Telecommunications Forum says modern connectivity was a major benefit during lockdown, so it’s important to ensure long term sustainability of the networks