Liquidators file bankruptcy application against Mainzeal’s Yan
By Victoria Young Aug. 12 (BusinessDesk) - The liquidators for Mainzeal say they have been forced to use bankruptcy proceedings to get $18 million out of former director Richard Yan. While both sides are appealing the $36 million in damages awarded against several former d...
Cautious consumers go easy on the plastic as card spending dips in July
By Victoria Young Aug. 12 (BusinessDesk) - Seasonally-adjusted electronic card spending dipped in July by 0.1 percent after being flat in June, according to Stats NZ. Economists had expected a 0.5 percent lift, according to the median in a Bloomberg poll. In the same month...
Rakon outlines 5G challenges 'just around the corner'
By Victoria Young Aug. 9 (BusinessDesk) - Rakon told shareholders it is in the best position possible to make money from the roll-out of 5G mobile services, but any impact won’t be seen until the fourth quarter of the next financial year at the earliest. The communications...
RBNZ isn’t here to surprise, deputy governor says.
By Victoria Young Aug. 9 (BusinessDesk) - Reserve Bank deputy governor Geoff Bascand has told an audience of businesspeople the central bank won’t keep surprising as it did when it slashed the official cash rate on Wednesday. RBNZ's monetary policy committee shocked financ...
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