Update: CBL shares fall 12% as reserves increase dents profit
(Updates to add market reaction, comment from analyst) By Rebecca Howard Aug. 18 (BusinessDesk) - CBL Corp's shares fell about 12 percent after the financial risk insurer said first-half profit dropped by more than a third, largely on a $16.5 million increase in reserves t...
Government approves negotiating mandate for revamped TPP
By Rebecca Howard Aug. 17 (BusinessDesk) - The government has approved a negotiating mandate for the so-called Trans-Pacific Partnership 11, a trade deal it says could save New Zealand companies $222 million a year, says Trade Minister Todd McClay. The original Trans-Pacif...
NZ dollar gains against broadly weaker greenback after Fed minutes
By Rebecca Howard Aug. 17 (BusinessDesk) - The New Zealand dollar gained against a broadly weaker greenback after minutes from the US Federal Reserve's policy meeting potentially signaled policy makers could delay a rate hike. The kiwi rose to 73.28 US cents as at 5pm in W...
Rakon's startup Thinxtra won't be a drag on earnings for long says chairman
By Rebecca Howard Aug. 17 (BusinessDesk) - Rakon's start-up investment Thinxtra won't be a drag on the NZX-listed components maker's earnings for long, according to chairman Bryan Mogridge. Earlier this week, Rakon predicted a return to profit in the year ending March 31, 2...
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