NZ dollar extends decline as greenback benefits from Powell's testimony
By Rebecca Howard July 18 (BusinessDesk) - The New Zealand dollar fell in Asia after upbeat comments overnight from Federal Reserve chair Jerome Powell reinforced the view US rates will keep rising while domestic rates stay at a record low. The kiwi traded at 67.70 US cent...
PGC's Torchlight Fund to pay departing investors A$25.5M
By Rebecca Howard July 18 (BusinessDesk) - Pyne Gould Corp's Torchlight Fund has 30 months to make a fixed redemption payment of A$25.5 million after the firm announced a deal with unhappy investors who pursued the distressed asset investor through the Cayman Islands courts....
Kingfish's 3.1% stake in Fletcher Building paying off
By Rebecca Howard July 18 (BusinessDesk) - Fletcher Building shares have gained about 14 percent since Kingfish took a 3.1 percent stake and the listed investment firm's manager remains upbeat on the stock. "We have watched it for a long time. We have watched it closely as...
NZ dollar gains after RBNZ's inflation gauge accelerates at fastest pace since 2011
By Rebecca Howard July 17 (BusinessDesk) - The New Zealand dollar rose across the board after an inflation gauge published by the Reserve Bank accelerated at its fastest pace in seven years, easing concerns about a possible rate cut. The kiwi traded at 68.30 US cents as a...
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