UPDATE: RBNZ wants more time before making any changes to LVRs
(Updates with comment from RBNZ press conference, economist comment) By Rebecca Howard May 30 (BusinessDesk) - New Zealand's credit growth has slowed and house price inflation has stabilised but the Reserve Bank wants more time before it eases loan-to-value restrictions an...
NZ dollar slips against yen as jitters over Italy reduces risk appetite
By Rebecca Howard May 29 (BusinessDesk) - The New Zealand dollar fell against the yen as investors take risk off the table due to ongoing political turmoil in Italy, in particular, concerns about what a new round of Italian elections might bring. The kiwi fell to 75.61 yen...
Pacific Edge shares drop 9.4% as slow sales progress bring cash burn in focus
By Rebecca Howard May 29 (BusinessDesk) - Pacific Edge shares fell 9.4 percent after the company stayed in the red and said commercial deals in the US were taking longer than expected, raising questions about whether its cash reserves are deep enough. "Things seem to be mo...
Bounty Fresh launches Tegel takeover with minimum target already achieved
By Rebecca Howard May 29 (BusinessDesk) - Philippines-based poultry group Bounty Fresh Foods has sent the offer document for its $437.8 million takeover bid for NZX-listed Tegel Group to all shareholders and said the minimum acceptance condition will be satisfied. The $1.2...
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