Reserve Bank of Australia cuts cash rate to 1.5%
By Edwin Mitson Aug. 2 (BusinessDesk) - The Reserve Bank of Australia has cut its cash rate to 1.5 percent, a fall of 25 basis points. In a statement, governor Glenn Stevens cited low inflation rates as the reasoning behind the fall, saying "given very subdued growth in lab...
DairyNZ cuts breakeven price for dairy farmers to $5.05/kgMS
By Edwin Mitson Aug. 2 (BusinessDesk) - DairyNZ has revised down its anticipated breakeven price for the average farmer to $5.05 per kilogram of milk solids for the current season from $5.25 for 2015/16. The industry body said that reflects the cuts in costs that have been...
All Valleygirl and TEMT fashion stores close, bar Queen Street
By Edwin Mitson Aug. 1 (BusinessDesk) - The receivers appointed to the Valleygirl and TEMT fashion stores in New Zealand have closed all bar one store, on Queen Street in Auckland. The chain previously had 31 stores across the country, with around 160 workers. It went into...
Positive cashflow for dairy farmers 'unlikely' until 2018: ANZ
By Edwin Mitson Aug. 1 (BusinessDesk) - ANZ Bank New Zealand, the country's bigger lender, has warned dairy farmers are unlikely to see positive cashflow for another 18 months. In analysis published shortly after Fonterra Cooperative Group confirmed its milk price forecast...
Prev
