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BNZ annual earnings rise 2.4% on lending growth, smaller bad debt charges
By Paul McBeth Oct. 30 (BusinessDesk) - Bank of New Zealand, the local unit of National Australia Bank, lifted annual earnings 2.4 percent as the lender lifted lending to businesses and households and reported smaller charges on bad debts. BNZ's cash earnings rose to $807 m...
ComCom confirms reduced rates of return for network monopolies
By Pattrick Smellie Oct. 30 (BusinessDesk) - The Commerce Commission has confirmed it is reducing the allowable rate of return on capital for regulated electricity and gas network monopolies in a move that Auckland network owner Vector says will place "further pressure on our...
NZ dollar drops 1% as Fed more upbeat about US economy; RBNZ awaited
By Tina Morrison Oct. 30 (BusinessDesk) - The New Zealand dollar dropped 1 percent after the Federal Reserve was more upbeat about the outlook for the US economy than expected in its policy statement this morning, strengthening the greenback. The kiwi dropped as low as 78.2...
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