NZ dollar extends decline as PBOC devalues yuan, spooking investors
By Paul McBeth Jan. 6 (BusinessDesk) - The New Zealand dollar extended its decline after the People's Bank of China unexpectedly devalued the yuan, stoking fears the strength of the world's second-biggest economy may be wavering. The local currency fell to 66.53 US cents a...
Mega cashed up as minority investors diluted in pre-Christmas rights issue
By Paul McBeth Jan. 6 (BusinessDesk) - Minority shareholders in Mega were further diluted in a pre-Christmas $7.4 million rights issue largely bankrolled by its two biggest investors, which has left the file storage and encryption firm flush with cash heading into 2016. Th...
NZ dollar slips as Chinese stocks settle down, dairy auction looms
By Paul McBeth Jan. 5 (BusinessDesk) - The New Zealand dollar edged lower after Chinese stocks recovered from a sharp decline that sapped investors' appetite for risk-sensitive assets around the world. The kiwi declined to 67.39 US cents at 5pm in Wellington from 67.42 cent...
Turangi Maori land trust brings in Chinese partners for sheep milk expansion
By Paul McBeth Jan. 5 (BusinessDesk) - Waituhi Kuratau Trust, the Turangi-based Maori land trust, has teamed up with Chinese interests to develop its sheep-milking interests as part of a plan to sell into the world's most-populous nation. The trust sold a leasehold interes...
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