Review of OIO 'good character' assessment will be conducted by Peter McKenzie QC
By Tina Morrison May 19 (BusinessDesk) - An independent inquiry to review the Overseas Investment Office's process for assessing good character will now be conducted by Wellington barrister Peter McKenzie QC, because Terence Stapleton QC is no longer available to carry out the...
NZ consumer confidence falls in May as low interest rates dull savings, petrol prices rise
By Tina Morrison May 19 (BusinessDesk) - New Zealand consumer confidence slid in May amid rising petrol prices and concerns about an accelerating housing market and the impact of lower interest rates on savings. The ANZ-Roy Morgan consumer confidence index declined to 116.2...
Rakon turns to annual loss as telcos pull back infrastructure spending
By Tina Morrison May 19 (BusinessDesk) - Rakon, the high-tech components manufacturer, turned to an annual loss after telecommunications companies pulled back infrastructure spending, hurting sales at its largest unit. The Auckland-based company posted a loss of $1.7 milli...
NZ dollar falls as greenback surges on Fed minutes pointing to June rate hike
By Tina Morrison May 19 (BusinessDesk) - The New Zealand dollar fell as the US dollar surged after the Federal Reserve minutes to its last meeting stoked speculation for an interest rate hike next month. The kiwi sank to 67.31 US cents at 8am in Wellington, from 67.90 cents...
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