NZ dollar weakens as China worries claim centre stage

Jenny Ruth
Fri, 22 May 2020

The New Zealand dollar weakened as worsening relations between China and both the US and Australia continue to take centre stage in investors' minds. The kiwi was trading at 60.97 US cents at 5pm in Wellington from 61.21 cents at the same time yesterday. However, the domestic currency is likely to hold above the 59.35 cents level it ended in New York last Friday. The trade-weighted index was at 68.94 from 69.05. Recent developments include news that China's National People's Congress convening today will be deliberating on a bill to crack...
Finance
Regulator sues ANZ over credit card insurance
Dan Brunskill | Fri, 05 Jun 2020

The Financial Markets Authority has filed High Court proceedings against ANZ Bank New Zealand, alleging it charged some customers for credit card repayment insurance policies that offered those custom...

Markets
MARKET OPEN: Profit taking may be the flavour of the day, US jobs data in focus
Rebecca Howard | Fri, 05 Jun 2020

Weaker offshore markets may spill over into New Zealand as investors look to lock in profits after several positive days. Wall Street is set to end its four-day rally ahead of the May non-farm payr...

Infrastructure
Loss expected from NZ Steel on covid shutdown
Gavin Evans | Fri, 05 Jun 2020

BlueScope Steel’s New Zealand business could post its first half-yearly loss in four years on the back of the country’s strict covid-19 shutdown, Jarden analysts say. The New Zealand Steel and Paci...

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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