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MARKET CLOSE: NZ shares mixed; Sky TV, Fletcher fall, Synlait, Trade Me gain
By Sophie Boot Feb. 28 (BusinessDesk) - New Zealand shares were mixed, with Sky Network Television sinking to a ten-week low while Synlait Milk and Trade Me Group gained. The S&P/NZX 50 Index gained 13.44 points, or 0.2 percent, to 8,373.82. Within the index, 24 stocks fell...
NZ dollar falls as Fed chair Powell's upbeat economic outlook prompts US rate rethink
By Paul McBeth Feb. 28 (BusinessDesk) - The New Zealand dollar fell after Federal Reserve chair Jerome Powell's optimistic assessment of the US economy gave investors reason to second-guess their interest rate outlooks, pushing yields on US Treasuries higher and stoking demand...
Tower settles with reinsurer Peak Re over policy dispute
By Paul McBeth Feb. 28 (BusinessDesk) - Tower has reached a settlement with reinsurer Peak Re over a dispute relating to its 2015 adverse conditions cover, and will get about half what it's claimed. Auckland-based Tower will receive $22 million of the $43.8 million claimed...