General Cable plans to close NZ operations employing 160 people
By Paul McBeth Nov. 8 (BusinessDesk) - General Cable Corp intends to close its local operations, making 160 people redundant, after failing to find a buyer for its remaining Asia Pacific businesses, including the New Zealand unit. The cable maker has started a consultation...
NZME shares slump to new low as regulator takes dime view on Fairfax deal
By Paul McBeth Nov. 8 (BusinessDesk) - NZME shares sink 24 percent after the Commerce Commission's early view that a merger with Fairfax New Zealand would concentrate too much power under one umbrella, irrespective of the financial gains. Traditional media companies have s...
RBNZ's Spencer signals new oversight for payments systems
By Paul McBeth Nov. 8 (BusinessDesk) - Reserve Bank deputy governor Grant Spencer is signalling a new supervision regime for the country's payments system, two years after he first outlined concerns about the global infrastructure that facilitates wholesale market transactions...
Concentration of NZME, Fairfax tie-up a concern irrespective of financial gains: ComCom
By Paul McBeth Nov. 8 (BusinessDesk) - The financial gains delivered by merging the country's two biggest publishers - NZME and Fairfax New Zealand - would be a concern irrespective of their size given the concentration of power and ability to influence opinions, the Commerce...
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