NZ dollar falls below 69 US cents as Italy remains in focus, stability report looms
By Jonathan Underhill May 30 (BusinessDesk) - The New Zealand dollar fell below 69 US cents and dropped against the yen as Italy's political hiatus sent Italian bond yields soaring and prompted investors to look for safe havens. The kiwi dollar dropped to 68.99 US cents as...
RESEND: Housing NZ dusts off bond-sale mechanism that will keep $2.9B of housing debt out of obegal
(Adds dropped year, 2019, in second paragraph and changes 'implicit' to 'explicit' government guarantee) By Jonathan Underhill May 29 (BusinessDesk) - Housing New Zealand, which provides housing for New Zealanders in need, is expected to sell up to $1 billion of bonds this...
Turners posts 33% gain in FY profit, says 2019 pretax earnings may rise as much as 16%
By Jonathan Underhill May 29 (BusinessDesk) - Turners Automotive Group posted a 33 percent gain in full-year profit as New Zealand's largest second-hand vehicle retailer leveraged its position to provide more finance and an expanded insurance offering. Profit rose to $23.4...
Milk NZ Holding surprised by Fonterra's $7 payout for 2019 given outlook for global demand
By Jonathan Underhill May 28 (BusinessDesk) - Milk New Zealand Holding, which owns and manages dairy operations controlled by Shanghai Pengxin, says it didn't expect such a bullish forecast from Fonterra Cooperative Group for its 2019 milk payout. Last week Fonterra raised...
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