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While you were sleeping: OPEC sinks oil
By Margreet Dietz Dec. 8 (BusinessDesk) - Wall Street dropped with the price of oil as OPEC’s decision to keep its output at current elevated levels fuelled concern about the increasing global glut. “We’re plunging with the dawn of an OPEC without quotas,” John Kilduff, a p...
MARKET CLOSE: NZ shares fall, led by Contact, Xero; Trade Me gains
By Sophie Boot Dec. 7 (BusinessDesk) - New Zealand shares fell after Contact Energy said it doesn't expect growth in operating earnings this year and investors continued to punish Xero after key executives sold down their holdings. The S&P/NZX 50 index dropped 30.4 points,...
NZ dollar falls as traders ponder prospects for RBNZ rate cut
By Paul McBeth Dec. 7 (BusinessDesk) - The New Zealand dollar fell as traders mulled the likelihood that the Reserve Bank will cut interest rates in its final meeting of the year, putting on a different path to the US where the Federal Reserve is poised to start tightening pol...
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