RBNZ says it can't promise there won't be a repeat of the CBL fiasco
By Jenny Ruth Sept. 2 (BusinessDesk) - The Reserve Bank can’t promise there won’t be a repeat of the CBL fiasco in which an NZX-listed company was ordered to keep secret for months the fact that its regulator believed it was insolvent. RBNZ deputy governor Geoff Bascand tol...
Weak NZ dollar gains respite from better-than-expected Chinese data
By Jenny Ruth Sept. 2 (BusinessDesk) - The New Zealand dollar rose after surprisingly strong manufacturing data from China lifted it slightly out of the doldrums, but the prevailing sentiment remains negative. The kiwi was trading at 63.07 US cents at 5:05pm in Wellington f...
Jenny Ruth: ANALYSIS: Vital investors foot the bill for ditching a dud idea
By Jenny Ruth Sept. 2 (BusinessDesk) - Investors were mightily relieved when Vital Healthcare Property Trust’s manager announced in May that Vital wouldn’t be party to buying Healthscope properties for A$1.25 billion. Trading in Vital speaks volumes: the unit price jumped f...
Analysts downgrade earnings amid deepening business pessimism
By Jenny Ruth Sept. 2 (BusinessDesk) - Despite a solid earnings reporting season from NZX-listed companies, analysts are pulling back their forecasts for the coming year as businesses generally remain in a deep funk. In late July, analysts were expecting median earnings gro...
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