MARKET CLOSE: NZ stocks inch higher as yield comes back into play, Trustpower gains
By Rebecca Howard April 18 (BusinessDesk) - New Zealand stocks edged higher as interest in high-yielding stocks including Trustpower and several property companies was offset by some portfolio reshuffling after the Oceania Healthcare initial public offering weighed on stocks s...
Govt agrees $2 bln pay equity package for aged and residential care workers
By Pattrick Smellie April 18 (BusinessDesk) - The government will implement a historic pay equity pay deal for aged and residential care workers worth $2.05 billion of extra pay for some 55,000 people – close to 2 percent of the total New Zealand workforce. Prime Minister...
Annual inflation tipped to hit mid-point of RBNZ's target range in 1Q
By Rebecca Howard April 18 (BusinessDesk) - Higher food and fuel prices are expected to propel annual inflation to 2 percent in the first quarter, marking the first time it will hit the mid-point of the central bank's target range in five-and-a-half years. Economists expec...
Warehouse to sell Newmarket property for $65 million
By Rebecca Howard April 18 (BusinessDesk) - Warehouse Group has entered into an unconditional contract to sell its Newmarket property in Auckland for $65 million and said the proceeds will be used to reduce debt. Settlement of the property sale is expected to be completed i...
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