The latest from Senior Journalist Jenny Ruth

Jenny has been a financial journalist for more than 37 years. She has covered everything from listed companies to economics for outlets including the Australian Associated Press, Bloomberg News, Radio NZ and National Business Review. Jenny was the New Zealand Shareholders’ Association business journalist of the year for 2018.

Fitch expects slower GDP growth than Treasury
Jenny Ruth | Mon, 14 Jan 2019

By Jenny Ruth Jan. 14 (BusinessDesk) - New Zealand’s economy will likely grow at a slower pace than Treasury is forecasting due to weak business confidence and declining consumer confidence, according to Fitch Solutions Macro Research. “We expect growth to slow due to conti...

Orr: Don’t rely on bank stress test outcomes alone
Jenny Ruth | Sun, 13 Jan 2019

By Jenny Ruth Jan. 14 (BusinessDesk) - Reserve Bank governor Adrian Orr says stress tests of banks have inherent limitations, suggesting they shouldn’t be relied on. “We emphasise in our public articles that stress testing results should not be read at face value,” Orr says...

No crisis in Australia's housing market; NZ prices seen stable to lower: Nikko
Jenny Ruth | Thu, 10 Jan 2019

By Jenny Ruth Jan. 11 (BusinessDesk) - House prices in Australia, particularly in Sydney and Melbourne, are falling sharply and may have further to fall but this is by no means a crisis, according to Chris Rands, a portfolio manager with Nikko Asset Management in Sydney. Ev...

Ikea NZ launch details: there will be meatballs
Jenny Ruth | Thu, 10 Jan 2019

By Nikki Mandow Jan. 11 (BusinessDesk) - After an inordinate amount of hype and years of heart-stopping “Is it coming? Is it not?”, the world’s largest furniture and home furnishings retailer, Ikea, has held a press conference, ostensibly to announce details about the company’...

NZ dollar little changed; Powell provides reasons to be dovish
Jenny Ruth | Thu, 10 Jan 2019

By Jenny Ruth Jan. 11 (BusinessDesk) - The New Zealand dollar is treading water after US Federal Reserve chair Jerome Powell outlined the concerns which are making him more cautious about raising interest rates further. The kiwi was trading at 67.80 US cents at 8.40am in We...

NZ dollar softens after weak Chinese PPI
Jenny Ruth | Thu, 10 Jan 2019

By Jenny Ruth Jan. 10 (BusinessDesk) - The New Zealand dollar softened slightly after technical factors kept a cap on the upside and after weaker than expected producer pricing data in China. The New Zealand dollar eased to 67.87 US cents at 5pm in Wellington from 67.99 at...

Turners says used car demand strong despite December downturn
Jenny Ruth | Wed, 09 Jan 2019

By Jenny Ruth Jan. 10 (BusinessDesk) - Turners Automotive Group says a lack of used car imports from Japan has meant total used car sales in December were down 6 percent on the same month of 2017. Registrations of used cars imported from overseas fell a much greater 21.6 pe...

NZ dollar gains amid rising optimism for US-China trade pact
Jenny Ruth | Wed, 09 Jan 2019

By Jenny Ruth Jan. 9 (BusinessDesk) - Financial markets have taken the fact that the US-China trade talks in Beijing carried on into a third unscheduled day as a positive, boosting the fortunes of riskier assets including the New Zealand dollar. The kiwi was trading at 67.5...

World Bank sees "Darkening Skies" in 2019
Jenny Ruth | Wed, 09 Jan 2019

By Jenny Ruth Jan. 9 (BusinessDesk) - The World Bank is predicting global growth will slow this year due to headwinds that include tightening financing conditions, moderating industrial production and intensifying trade tensions. In its semi-annual report on the outlook for...

Fletcher's Three Kings quarry may be for sale for $150m
Jenny Ruth | Tue, 08 Jan 2019

By Jenny Ruth Jan. 9 (BusinessDesk) - Fletcher Building has confirmed it is receiving both “solicited and unsolicited” bids for its Three Kings quarry development, in response to rumours that it may be looking to sell the Auckland site for $150 million Harry Doig, chair of...

NZ dollar hovers near top of recent range as hopes rise
Jenny Ruth | Tue, 08 Jan 2019

By Jenny Ruth Jan. 8 (BusinessDesk) - The New Zealand dollar is treading water near the top of its recent range on speculation the US Federal Reserve will either slow down or pause further rate hikes and hopes for a positive outcome to United States-China trade talks. The N...

Vital trustee's fees highlight manager's even richer gravy train
Jenny Ruth | Mon, 07 Jan 2019

By Jenny Ruth Jan. 8 (BusinessDesk) - Management fees charged to Vital Healthcare Property Trust are not only out of whack with market norms, they’re also at odds with the way its own trustee’s fees are structured. Even so, Vital’s trustee, Trustees Executors, is paid about...

NZ dollar settles within a range on soothing developments
Jenny Ruth | Mon, 07 Jan 2019

By Jenny Ruth Jan. 7 (BusinessDesk) - The New Zealand dollar is back to range-trading after a number of calming influences lifted it from last week’s lows. The New Zealand dollar was trading at 67.50 US cents at 5pm in Wellington, just below the day’s high at 67.55 and from...

Barfoot reports first annual median house price fall in a decade
Jenny Ruth | Sun, 06 Jan 2019

By Jenny Ruth Jan. 7 (BusinessDesk) - Barfoot & Thompson says the tide is turning towards a buyers’ market for Auckland housing. The median price Auckland’s largest real estate agency sold houses for in 2018 was down 0.8 percent on 2017 at $836,792 - the first such decline...

Paymark points to disappointing retail sales over Christmas
Jenny Ruth | Sun, 06 Jan 2019

By Jenny Ruth Jan. 7 (BusinessDesk) - December retail sales using electronic cards were relatively flat, rising 1.2 percent by value compared with the 5 percent growth shown in the preceding 11 months. The 120.7 million transactions, up 2 percent, were worth more than $6 bi...

Do our banks need as much gold-plating as the Reserve Bank thinks?
Jenny Ruth | Sun, 06 Jan 2019

By Jenny Ruth Jan. 7 (BusinessDesk) - Stress-testing banks has become de rigueur for central banks since the global financial crisis and New Zealand's banks have passed repeated tests over a number of years with flying colours. In addition, these days New Zealand's major ba...

New Zealand dollar treads water after wild swings
Jenny Ruth | Fri, 04 Jan 2019

By Jenny Ruth Jan. 4 (BusinessDesk) - The New Zealand dollar is little changed as investors weigh recent extreme volatility and look for some direction from United States equities markets and US employment data due out overnight. The kiwi was trading at 67.02 US cents at 5p...

New Zealand dollar rallies as US stocks plunge sparks a USD sell-off
Jenny Ruth | Thu, 03 Jan 2019

By Jenny Ruth Jan. 4 (BusinessDesk) - The New Zealand dollar rallied along with most other currencies as plunging stock markets in the United States spurred loss-covering sales of US dollar positions. The kiwi was trading at 66.98 US cents at 8.30am in Wellington from 66.24...

Flash crash takes the kiwi dollar on a roller-coaster ride
Jenny Ruth | Thu, 03 Jan 2019

By Jenny Ruth Jan. 3 (BusinessDesk) - The New Zealand dollar was little changed at the end of a wild roller-coaster day driven by a “flash crash” on global currency markets that was probably caused by computer-driven trading in thin, holiday-dampened activity. Meanwhile, ov...

IAG increases its reinsurance cover to A$9 billion
Jenny Ruth | Thu, 03 Jan 2019

By Jenny Ruth Jan. 3 (BusinessDesk) - Australia-based IAG Group says it has increased its catastrophe reinsurance protection for calendar 2019 by A$1 billion to A$9 billion. That includes the 20 percent quota share with Warren Buffett’s Berkshire Hathaway which began on Jul...

Promisia raises $1.35m from rights issue amid ongoing MedSafe dispute
Jenny Ruth | Wed, 02 Jan 2019

By Jenny Ruth Jan. 3 (BusinessDesk) - Dietary supplements company Promisia Integrative has raised $1.35 million from its 3-for-1 rights issue, well above the underwritten $1.05 million amount, despite the company making no bones of how risky a proposition it is. It’s still...

New Zealand dollar weakens amid Chinese sabre-rattling, European turmoil
Jenny Ruth | Wed, 02 Jan 2019

By Jenny Ruth Jan. 3 (BusinessDesk) - The New Zealand dollar weakened into the New Year amid negative global news such as China threatening Taiwan again and the European Central Bank appointing temporary administrators to run an Italian bank, Banca Carige. The kiwi was trad...

Just how bad is Vital Healthcare's governance?
Jenny Ruth | Wed, 02 Jan 2019

By Jenny Ruth Jan.3 (BusinessDesk) - Vital Healthcare Property Trust’s manager continues to maintain the fiction that Vital and its investors have any agency in determining its future. Effectively, they don’t. This lack of agency, the governance structure, and the fact that...


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