NZ dollar's rise tempered by China tensions, US unemployment concerns

Jenny Ruth
Thu, 21 May 2020

The New Zealand dollar rose but was off its highs as concerns about worsening US-China relations and rising US job losses took the gloss off the reopening of the economy there. The kiwi was trading at 61.21 US cents at 5pm in Wellington, down from the high at 61.59 cents in the wee hours of our morning and from 61.03 at the same time yesterday. The trade-weighted index was at 69.05 from 68.90. US President Donald Trump again lashed out at China in a flurry of tweets, in which he also attacked the opposition Democratic Party and state gove...
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