Finance
Explore the latest finance news by BusinessDesk's team of reporters around New Zealand.
Finance
UPDATE: ANZ warns farmers RBNZ intervention may mean higher borrowing costs
(Updates with comment from Mark Hiddleston from 12th par) By Jenny Ruth May 3 (BusinessDesk) - ANZ Bank has warned its farming customers they face higher borrowing costs almost immediately due to Reserve Bank intervention, even though wholesale interest rates have been fall...
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Finance
Spheria Asset Management takes A$4.8M stake in NZME
By Paul McBeth May 3 (BusinessDesk) - Spheria Asset Management spent A$4.8 million building up a 5.3 percent stake in NZME to become the latest Australian fund manager to take a punt on the Kiwi media group. The Sydney-based firm bought almost 10.4 million shares at an ave...
Finance
AMP's NZ wealth management arm suffers Q1 cash outflow
By Jenny Ruth May 2 (BusinessDesk) - AMP’s New Zealand wealth management business suffered a net cash outflow of A$52 million in the March quarter, a big turn-around from a net inflow of A$53 million in the same quarter of last year. That suggests the kiwi branch may be suf...
Finance
UPDATE: BNZ lifts first-half profit 12.2% as lending grows and margins fatten
(Updating with comment from 7th paragraph) By Jenny Ruth May 2 (BusinessDesk) - Bank of New Zealand’s first-half net profit jumped 12.2 percent, boosted by gains on the sale of its 25 percent stake in Paymark and increased business and housing lending. The bank, which is...
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