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NZ dollar gains as prospects of rate cut next week dissipate, greenback weakens
By Jonathan Underhill June 2 (BusinessDesk) - The New Zealand dollar rose on speculation the Reserve Bank will refrain from cutting interest rates next week and may even leave the market with the sense that the easing cycle has ended, given the domestic economy is in reasonabl...
Steel & Tube shares fall to lowest level in 15 years
By Edwin Mitson June 2 (BusinessDesk) - Shares in Steel & Tube Holdings have fallen to their lowest level since the aftermath of the attacks on the World Trade Centre in New York on September 2001. A short while ago, they were down 5.2 percent, or 10 cents, to $1.84. The s...
Heartland Bank warns dairy farm values could fall 40 percent from peak
By Edwin Mitson June 2 (BusinessDesk) - Heartland Bank, the Auckland-based lender, has told investors it is monitoring the dairy sector "with close attention" at a presentation and has warned farm values could fall 40 percent from peak to trough if the downturn continues or wo...
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