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UPDATE: RBNZ's Spencer keeps rates on hold, brings forward timing of rate hikes
(Updates to add detail throughout, comment from economist) By Rebecca Howard Nov. 9 (BusinessDesk) - Acting Reserve Bank governor Grant Spencer kept the official cash rate unchanged at 1.75 percent but brought forward a potential rate hike to June 2019 from September that...
Heartland to raise up to $59 mln at 10% discount to fund loan growth
By Paul McBeth Nov. 9 (BusinessDesk) - Heartland Bank plans to raise up to $59 million in a discounted rights offer to shareholders to help fund an expanding loan book, which rose at an annual pace of 16 percent in the September quarter. The Auckland-based lender will sell...
Warehouse 1Q sales drop 1.7% as discount stores change to 'everyday low pricing' model
By Tina Morrison Nov. 9 (BusinessDesk) - Warehouse Group's first quarter sales were weaker than the year-earlier period after the retailer changed the pricing strategy at its flagship 'red shed' discount department stores to "everyday low pricing". Sales fell 1.7 percent to...
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