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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.

Raise the eligibility age for NZ Super: NZ Initiative
Jenny Ruth | Mon, 03 Dec 2018

By Jenny Ruth Dec. 4 (BusinessDesk) -  New Zealand’s pension age is an “historical artefact” that should be reviewed because it risks transferring money from the working poor to the relatively rich. That’s the conclusion of New Zealand Initiative research fellow Jenesa Jera...

Hallenstein Glasson finds the going tough
Jenny Ruth | Mon, 03 Dec 2018

By Jenny Ruth Dec. 3 (BusinessDesk) - Hallenstein Glasson Holdings says it’s finding the going tough despite its sales for the first 17 weeks of the financial year being 4.8 percent ahead of the same period last year. “The trading environment has remained tough in both New...

A2 to meet new China e-commerce rules by March 31 extended deadline
Jenny Ruth | Sun, 02 Dec 2018

By Jenny Ruth Dec. 3 (BusinessDesk) - A2 Milk is confident it will meet all new Chinese cross-border e-commerce requirements affecting the sale of its Platinum infant formula in that country on or before March 31 next year. China’s government has extended the grace period f...

NZ shares to rise after key bogeymen vanquished, at least for now
Jenny Ruth | Sun, 02 Dec 2018

By Jenny Ruth Dec. 3 (BusinessDesk) - Expect share markets both in New Zealand and around the world to rally today after two of the bogeymen spooking investors have abated, at least for now. Bogeyman one was the trade war between China and the United States. They called a t...

Three instos pick a fight over Vital’s fees and management
Jenny Ruth | Fri, 30 Nov 2018

By Jenny Ruth Nov. 30 (BusinessDesk) - Three institutions are challenging the lucrative fees and extraordinary - but legal - rights of the manager of Vital Healthcare Property Trust. The manager, Canada-based Northwest Healthcare Properties Management, is resisting this att...

Orr says Reserve Bank is looking for a 'sweet spot' for bank capital
Jenny Ruth | Fri, 30 Nov 2018

By Jenny Ruth Nov. 30 (BusinessDesk) - Reserve Bank governor Adrian Orr says the central bank thinks there’s a sweet spot in which it can require banks to hold more capital “with no trade-off to efficiency.” Orr has already warned banks a number of times that the central ba...

Auckland housing consents surged in year ended October
Jenny Ruth | Thu, 29 Nov 2018

By Jenny Ruth Nov. 30 (BusinessDesk) - Consents to build new houses jumped in the year ended October with Auckland leading the charge. The 13,078 new homes consented in New Zealand’s biggest city were up 25 percent on the previous year and exceeded 13,000 for the first time...

Consumer confidence bounces back as wallets stay open: ANZ
Jenny Ruth | Thu, 29 Nov 2018

By Jenny Ruth Nov. 30 (BusinessDesk) - Consumer confidence lifted back to average levels in November after broadly trending lower since March. The ANZ-Roy Morgan headline index of consumer confidence lifted four points to 118.6 points in the latest month – a reading of 100...

LVRs relaxation unlikely to stoke housing risks: Fitch
Jenny Ruth | Thu, 29 Nov 2018

By Jenny Ruth Nov. 30 (BusinessDesk) - International ratings agency Fitch Ratings says the Reserve Bank’s further loosening of loan-to-valuation restrictions on banks’ mortgage lending is unlikely to have a significant impact on the housing market. Fitch says the LVRs impos...

Michael Hill fined $169,000 over misleading extended warranty
Jenny Ruth | Thu, 29 Nov 2018

By Jenny Ruth Nov. 29 (BusinessDesk) - Michael Hill New Zealand has been fined $169,000 in the Wellington District Court following an investigation by the Commerce Commission into its extended warranty. The regulator says the jewellery retailer admitted 12 charges that its...

QEX triples first-half sales, near quadruples profit
Jenny Ruth | Thu, 29 Nov 2018

By Jenny Ruth Nov. 29 (BusinessDesk) - QEX Logistics says it more than tripled first-half sales, near quadrupled first-half net profit and is on track to achieve its annual sales target of $60 million. The cross-border logistics company says sales for the six months ended S...

Pacific Edge returns to the capital well as sales grow
Jenny Ruth | Thu, 29 Nov 2018

By Jenny Ruth Nov. 29 (BusinessDesk) - Capital hungry Pacific Edge is asking shareholders and other investors to stump up with another $12 million after burning through another $8.6 million in cash in the six months ended September. That cash outflow was 15 percent down on...

Gentrack shares sink on its Brexit caution
Jenny Ruth | Thu, 29 Nov 2018

By Jenny Ruth Nov. 29 (BusinessDesk) - Gentrack says it’s cautious about how Brexit will affect its business in Britain and Europe in the short-term, even though it remains confident it can grow organic operating earnings at 15 percent or more in the long term. The company’...

Gentrack delivers on guidance but warns about customer caution
Jenny Ruth | Wed, 28 Nov 2018

By Jenny Ruth Nov. 29 (BusinessDesk) - Gentrack says annual net profit climbed 17 percent while its underlying operating profit rose 30 percent, consistent with its market guidance. The provider of software to utilities reported a $13.9 million net profit for the year ended...

Tilt’s independents belatedly urge holding out against Infratil
Jenny Ruth | Wed, 28 Nov 2018

By Jenny Ruth Nov. 29 (BusinessDesk) - Tilt Renewables’ independent directors say it looks like Infratil’s $2.30 per share takeover bid will fail to get to 90 percent acceptances and that remaining shareholders should hold out for a better offer. “Given the acceptances to d...

RBNZ expects house prices to rise
Jenny Ruth | Wed, 28 Nov 2018

By Jenny Ruth Nov. 28 (BusinessDesk) - The Reserve Bank expects its latest easing of loan-to-valuation restrictions on bank mortgage lending will feed through into higher house prices. The central bank is also reinforcing its view that all banks will need to hold more capit...

RBNZ highlights exorbitant life insurance commissions
Jenny Ruth | Wed, 28 Nov 2018

By Jenny Ruth Nov. 28 (BusinessDesk) - The Reserve Bank is sending a strong signal to the life insurance industry that broker commissions are way out of whack with international comparisons. The central bank’s latest six-monthly Financial Stability Report contains a chart s...

RBNZ says banking system risks have eased, loosens LVRs
Jenny Ruth | Tue, 27 Nov 2018

By Jenny Ruth Nov. 28 (BusinessDesk) - As widely expected, the Reserve Bank has further eased its loan-to-valuation restrictions on banks’ mortgage lending and the central bank said the risks to the country's financial system have eased in the last six months. In its latest...

Infratil tries to gee up Tilt acceptances as offer deadline nears
Jenny Ruth | Tue, 27 Nov 2018

By Jenny Ruth Nov. 27 (BusinessDesk) - With three days to go before its takeover offer for Tilt Renewables expires, Infratil says full privatisation is “almost inevitable” now that it owns 85 percent of the company. Infratil is also warning shareholders who don’t wish to pa...

Turners shares tumble 7.4% on possible profit downgrade
Jenny Ruth | Tue, 27 Nov 2018

By Jenny Ruth Nov. 27 (BusinessDesk) - Shares in Turners Automotive Group fell as much as 7.4 percent after it warned market conditions have deteriorated markedly. Turners’ shares sank as much as 20 cents to $2.53, taking their year-to-date decline to 23 percent. Investo...

Who’s telling porkies about car sales?
Jenny Ruth | Mon, 26 Nov 2018

By Jenny Ruth Nov. 27 (BusinessDesk) - Turners Automotive Group says it had a dreadful October and, that if those conditions continue, its annual pre-tax profit could be down 5-10 percent on its guidance. The downturn has been bigger in Auckland and “we think it’s a cost of...

Aged care operator Arvida doubles first half profit, optimistic for future
Jenny Ruth | Mon, 26 Nov 2018

By Nikki Mandow Nov. 27 (BusinessDesk) - Retirement village and aged care operator Arvida Group saw strong growth in the six months to Sept. 30 on the back of high occupancy and contributions from last year’s acquisitions. The retirement village and aged care company predic...

Turners lifts first-half profit 28% but warns about the outlook
Jenny Ruth | Mon, 26 Nov 2018

By Jenny Ruth Nov. 27 (BusinessDesk) - Turners Automotive lifted first-half net profit 28 percent and says strong performance from its insurance business offset a country-wide slowdown in the vehicle retailing sector. The company is also foreshadowing that its full-year res...


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