Virus crisis wipes $8.9 billion off NZ Super Fund's value
The New Zealand Superannuation Fund said global market volatility has wiped $8.9 billion, or 19.5 percent, off its value but says it can withstand the disruption resulting from the worsening coronavirus crisis.That figure is unaudited and before tax but after costs and the fund w...
Tourism Holdings cancels dividend, cuts executive pay
Tourism Holdings has cancelled its first-half dividend, slashed director and executive pay and will make its campervans available for emergency accommodation.The company said it won't pay the 10 cents per share divided due to be paid in May because of the increasing uncertainty...
NZ dollar plummets amid Asia market rout
The New Zealand dollar sank as much as five US cents over the past 24 hours as panic selling and a flight to the US dollar took fire with futures markets pointing to yet another sell-off on Wall Street.The kiwi was trading at 55.36 US cents at 5pm in Wellington, off the day's low...
RBNZ can't say if or when it may approve AMP Life sale
The Reserve Bank said it won't approve AMP Life's sale of its New Zealand life insurance business if it is "not comfortable" with it and said it can't provide a time frame for a decision.The central bank also hinted that it hasn't yet received all the information it needs to make...
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