NZ dollar rises on growing expectations for US rate cut
By Rebecca Howard June 5 (BusinessDesk) - The New Zealand dollar was higher on growing speculation the US could move to cut rates, in particular against the backdrop of rising trade tensions. The kiwi was trading at 66.16 US cents at 7:50am in Wellington from 65.76 US cent...
Danone cleared to indirectly hold up to 65% of Yashili NZ
By Rebecca Howard June 4 (BusinessDesk) - Danone SA can indirectly hold up to 65 percent of Yashili New Zealand Dairy Co after its Danone Asia Pacific unit got a green light from the Overseas Investment Office to purchase up to 49 percent of the local dairy processor. "The...
NZ first quarter terms of trade rebound on strong dairy volumes
By Rebecca Howard June 4 (BusinessDesk) - New Zealand's terms of trade rebounded in the first quarter on record export volumes of dairy products and cheaper imported fuel. The terms of trade, which measures the purchasing power of New Zealand's exports relative to imports,...
Fletcher Building rejigs annual earnings guidance after completion of Formica sale
By Rebecca Howard June 4 (BusinessDesk) - Fletcher Building rejigged its full-year earnings before interest and tax guidance after completing the sale of its Formica business ahead of schedule, effectively lowering the top end of that guidance. The US$840 million sale of Fo...
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