AMP to spin out NZ wealth management unit in IPO next year
By Paul McBeth Oct. 25 (BusinessDesk) - AMP plans to spin out its New Zealand wealth management and advice division in an initial public offering next year. The Australian financial services firm has been reshaping under new leadership as it tries to rebuild a reputation t...
NZ dollar falls as heightened uncertainty dents appetite for riskier assets
By Paul McBeth Oct. 25 (BusinessDesk) - The New Zealand dollar fell against a broadly stronger greenback as heightened volatility in financial markets weighed on risk-sensitive assets such as the kiwi. The local currency declined to 65.22 US cents as at 8am in Wellington f...
MARKET CLOSE: NZ shares fall for fourth day as Fletcher hits 6-month low
By Paul McBeth Oct. 24 (BusinessDesk) - New Zealand shares fell for a fourth session as Fletcher Building dropped to a six-month low and dairy companies A2 Milk and Synlait Milk remained under pressure. The S&P/NZX 50 index declined 30.94 points, or 0.4 percent, to 8,642.2...
Steel & Tube handed record fine over mesh representations
By Paul McBeth Oct. 24 (BusinessDesk) - Steel & Tube Holdings has been ordered to pay a record fine for making misleading representations about steel mesh products that fell short of testing standards. Auckland District Court Judge Warren Cathcart today sentenced the compa...
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