NZ dollar declines as investors pull back on kiwi/Aussie gains
By Tina Morrison Feb. 19 (BusinessDesk) - The New Zealand dollar declined overnight as investors bet the kiwi had gained too much against the Aussie yesterday, with the pullback causing general weakness in the local currency. The kiwi slipped to 66.25 US cents at 8am in Wel...
Landcorp forecasts a bigger loss this year, no dividend, as dairy downturn bites
By Tina Morrison Feb. 18 (BusinessDesk) - Landcorp Farming, the state-owned farmer, won't pay a dividend to the government for a second consecutive year as low milk prices erode earnings from its dairy business. The company expects to post a net operating loss of between $8...
Skellerup first-half profit slips on weaker agri unit, lowers full-year forecast
By Tina Morrison Feb. 18 (BusinessDesk) - Skellerup Holdings' first half profit edged lower and it pulled back expectations for the full year as weakness in its agricultural business weighed on improved earnings from its industrial unit. Profit fell 0.9 percent to $9.6 mill...
NZ dollar rises as commodity currencies buoyed by oil price gain
By Tina Morrison Feb. 18 (BusinessDesk) - The New Zealand dollar gained as an increase in oil prices lifted commodity linked currencies. The kiwi rose to 66.33 US cents at 8am in Wellington, from 65.58 cents at 5pm yesterday. The trade-weighted index advanced to 72.10 from...
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