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FIRST CUT: RBNZ cuts OCR by 50 basis points to 1%
By Rebecca Howard Aug. 7 (BusinessDesk) - The Reserve Bank slashed the official cash rate by 50 basis points to 1 percent due to a softer outlook for employment and inflation, slower economic growth and weaker global conditions. The New Zealand dollar tumbled. "Our actions...
Tilt faces court action over 2016 South Australia blackout
By Gavin Evans Aug. 7 (BusinessDesk) - Tilt Renewables is among four wind farm operators being taken to court by Australian authorities for their part in a blackout of South Australia’s electricity network in September 2016. The Australian Energy Regulator is taking AGL Ene...
Suncorp NZ stars with 76% profit growth as group earnings plunge
By Paul McBeth Aug. 7 (BusinessDesk) - Suncorp Group's New Zealand unit was a standout for the Australasian bank and insurer, as premium growth and fewer claims helped boost local profit 76 percent while earnings plummeted across the Tasman. The Brisbane-based financial se...
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