Finance
Explore the latest finance news by Business Desk.
Primary Sector
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...
Listed Companies
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...
Listed Companies
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...
Services
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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