ANZ Bank deal to sell UDC Finance to HNA not proceeding
By Rebecca Howard Jan. 12 (BusinessDesk) - ANZ Bank New Zealand said an agreement to sell UDC Finance to Chinese conglomerate HNA Group for $660 million has terminated after the application was declined by the Overseas Investment Office in December. "The agreement to sell...
Rubicon shareholders give green light for sale of Tenon Clearwood stake
By Rebecca Howard Jan. 12 (BusinessDesk) - Shareholders have voted in favour of Rubicon's proposal to sell a 45 percent stake in Tenon Clearwood Partnership, a large clearwood sawmill and manufacturing operation in Taupo. The US$14.9 million purchase price - including its s...
Body massages and Uber are in, DVDs are out, says Stats NZ
By Rebecca Howard Jan. 12 (BusinessDesk) - Statistics New Zealand has rejigged the consumers price index basket in its latest three-year review, adding body massages, Airbnb and Uber and removing DVD and Blu-Ray players. "People are spending more online to rent a taxi, or a...
NZ dollar falls against Aussie after strong retail sales data across Tasman
By Rebecca Howard Jan. 11 (BusinessDesk) - The New Zealand dollar fell against the Australian dollar after stronger-than-expected November retail sales across the Tasman added to the view that consumer spending is picking up and fuelling Aussie growth. The kiwi declined to...
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