Takeovers Panel seeks details of new Chow Group shareholders as brothers reduce holding
By Jonathan Underhill March 17 (BusinessDesk) - Property developers John and Michael Chow have reduced their holding in Chow Group as part of their efforts to meet NZX listing requirements but the Takeovers Panel wants to know if any new shareholders should be considered "asso...
Jetstar caves in on 'opt-out' services for fare bookings after NZ regulator threatens court action
By Jonathan Underhill March 17 (BusinessDesk) - Jetstar has agreed to drop the use of pre-selected 'opt-out' services when selling airline tickets online after the Commerce Commission concluded there were grounds to prosecute the Qantas Airways subsidiary under the Fair Tradin...
Tourists help narrow NZ’s annual current account deficit, offsetting drop in dairy exports
By Jonathan Underhill March 16 (BusinessDesk) - Spending by international visitors in New Zealand reached a record high in 2015, helping narrow the nation’s current account deficit and offsetting a decline in the impact of falling dairy exports. The annual current account g...
NZ dollar rises vs. Australian dollar as futures point to gain at dairy auction
By Jonathan Underhill March 15 (BusinessDesk) - The New Zealand dollar rose against the Australian dollar on speculation rising milk powder futures on the NZX point to a gain in prices at the GlobalDairyTrade auction overnight. The kiwi rose to 88.91 Australian cents at 5pm...