S&P downgrades AMP's life insurance, bank over misconduct
By Sophie Boot Aug. 30 (BusinessDesk) - S&P Global Ratings cut AMP's life insurance credit rating and said it has a dim view of the group's creditworthiness after revelations from Australia's Royal Commission into misconduct in the financial services sector. The ratings age...
NZ businesses 'spooked' as 50% expect worse conditions in year ahead, ANZ says
By Sophie Boot Aug. 30 (BusinessDesk) - New Zealand business confidence dropped further in August as headline confidence weakened while firms' views of their own prospects stabilised. A net 50 percent of 369 firms surveyed in the ANZ business outlook survey for August expec...
Veritas annual accounts tagged by auditor over Mad Butcher sale
By Sophie Boot Aug. 30 (BusinessDesk) - Veritas Investments reported a profit in 2018 due to the $6.3 million gain from selling the Mad Butcher franchise, though its auditors couldn't confirm that figure, while its only remaining business wrote down $1.2 million in goodwill an...
MARKET CLOSE: NZ shares surge to record as market reopens; Synlait, a2 gain
By Sophie Boot Aug. 29 (BusinessDesk) - New Zealand shares surged to a record as the market reopened after yesterday's platform failure. Synlait Milk and A2 Milk Co led the gains. The S&P/NZX50 Index gained 148.65 points, or 1.6 percent, to 9,362.67. Within the index, 35 st...
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