NZ dollar gains vs Aust dollar as investors rethink interest rate tracks
By Paul McBeth May 9 (BusinessDesk) - The New Zealand dollar hit a two-month high against its trans-Tasman counterpart after weaker than expected consumer spending in Australia saw investors rethink the interest rate paths for the two nations. The kiwi rose as high as 93.9...
Resilient NZ banking sector could use deeper capital buffers, closer supervision, IMF says
By Paul McBeth May 9 (BusinessDesk) - New Zealand's major banks should be able to withstand a severe economic downturn, with profits helping cushion the blow, but could use deeper capital buffers, says the International Monetary Fund. In one of two reports on New Zealand,...
Briscoe cedes some gross margin in first quarter to boost sales
By Paul McBeth May 9 (BusinessDesk) - Briscoe Group, which reported yet another record profit in March, gave up some margin in its homeware chain to boost sales in the first quarter. Revenue rose 6.3 percent to $133 million in the three months ended April 30 and gained 5.8...
Westpac, BNZ see sense in RBNZ's capital review, less convinced on outsourcing policy
By Paul McBeth May 9 (BusinessDesk) - Westpac New Zealand and Bank of New Zealand are relatively sanguine about the need for the Reserve Bank's review of required capital levels to boost confidence in the solvency of the banking system, but see the regulator's planned outsourc...
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