Latest Finance Headlines

HiFX Morning Update, May 30 2016

Mon, 30 May 2016 09:14:46 +1200 | HiFX

The NZDUSD opens at 0.6690 (mid-rate) this morning. The NZD continued to trade the ranges on Friday, all be it with a bias to the downside and this morning the NZDUSD has fallen below 0.6700 for the first time since late March.More >>

PwC supports NZ Milk Futures to manage milk price risk

Fri, 27 May 2016 12:07:32 +1200 | PwC

The NZX today launched a NZ Milk Futures contract that will eventually provide the opportunity for large and small dairy farmers to proactively risk manage milk price movements and volatility. More >>

HiFX Morning Update, May 27 2016

Fri, 27 May 2016 08:40:07 +1200 | HiFX

The NZDUSD opens at 0.6747 (mid-rate) this morning. Just before 9am yesterday morning Fonterra confirmed its farm gate milk price for the 2016/17 season is $4.25 per kg of milk solids and reaffirmed its estimate of the current season 2015/16 is NZD 3.90/kg ...More >>

Macquarie agrees to sell

Thu, 26 May 2016 15:35:57 +1200 | BusinessDesk

May 26 (BusinessDesk) - Macquarie Group, the Australian financial firm, agreed to sell the majority of its New Zealand retail wealth management business to local investment manager Warren Couillault and some of its employees, retaining a cornerstone shareholding.More >>

$4m for extending micro-financing

Thu, 26 May 2016 14:34:29 +1200 | The Maori Party

Budget 2016 has provided $4 million over the next four years to provide greater access to microfinance for whānau. More >>

NZ Budget 2016: Is there room for tax cuts next year?

Thu, 26 May 2016 14:07:14 +1200 | PwC

The big question after Budget 2016 is whether there is room for tax cuts in Budget 2017? The Government is caught between population growth putting pressure on core public services, low inflation leading to subdued tax revenue, and an ongoing need ...More >>

Reserve Bank Bulletin looks at liquidity management

Thu, 26 May 2016 11:17:57 +1200 | Reserve Bank

The Reserve Bank today published a Bulletin article that explains how the Bank manages liquidity in the banking system. More >>

Will National’s eighth budget finally show some vision?

Thu, 26 May 2016 10:47:33 +1200 | Green Party

The Green Party is hoping National’s eighth budget today will address the great challenges of our time, and not just be another exercise in papering over the cracks in New Zealand society, economy and the environment.More >>

NZX toughens enquiry process

Thu, 26 May 2016 10:12:19 +1200 | BusinessDesk

May 26 (BusinessDesk) - New Zealand's stock exchange operator, NZX, is to start making confidential enquiries of listed companies that experience large, unexplained share price movements, to determine whether they may be holding undisclosed "material" ...More >>

Fonterra's 2017 opening forecast below expectations

Thu, 26 May 2016 09:31:42 +1200 | BusinessDesk

May 26 (BusinessDesk) - Fonterra Cooperative Group's first forecast for the 2016/17 farmgate milk price has come in below expectations at $4.25 per kilogram of milk solids and the world's biggest dairy exporter will keep using its balance sheet to ...More >>

Z confident in $30mn savings from Chevron acquisition

Wed, 25 May 2016 14:56:42 +1200 | BusinessDesk

May 25 (BusinessDesk) - Z Energy is confident of the savings it can make from the $785 million acquisition of Chevron New Zealand's Caltex and Challenge! petrol station chains, which it predicts will be up to $30 million. More >>

Bank of China NZ unit funds Chinese-NZ mission

Wed, 25 May 2016 14:52:11 +1200 | BusinessDesk

May 25 (BusinessDesk) - Bank of China, one of the country's biggest lenders, funded 55 of its Chinese company clients to meet with 120 Kiwi agricultural businesses in a bid to grow trade and help meet its goal of becoming the largest Chinese bank in ...More >>

New VC fund hits NZ$38m

Wed, 25 May 2016 10:57:37 +1200 | NZ Private Equity and Venture Capital Ass

The Global from Day One (GD1) Fund II has raised NZ$38 million – NZ$5 million more than its first close target. More >>

Murray & Co sells wealth management arm

Wed, 25 May 2016 10:07:48 +1200 | Murray and Company

Murray & Co has sold its successful wealth management business to First NZ Capital to focus on expanding its investment banking operations. More >>

FMA boss Everett gives regulator a pass mark

Wed, 25 May 2016 09:12:37 +1200 | BusinessDesk

May 25 (BusinessDesk) - Financial Markets Authority chief executive Rob Everett is giving the market watchdog a pass mark as it nears the end of its establishment phase and starts taking a closer look at ensuring firms' conduct is up to scratch.More >>

HiFX Morning Update. May 25 2016

Wed, 25 May 2016 08:53:13 +1200 | HiFX

The NZDUSD opens at 0.6734 (mid-rate) this morning. Once again the NZD has respected the recent ranges against the majority of its trading partners with the British Pound being the only exception.More >>

UPDATE: Tower shares sink to two-month low

Tue, 24 May 2016 12:55:46 +1200 | BusinessDesk

May 24 (BusinessDesk) - Tower shares dropped to a two-month low after the general insurer posted a wider first-half loss and flat gross written premium income, raising questions about its ability to compete with larger rivals. More >>

Mary Quin joins Westpac NZ board

Tue, 24 May 2016 10:16:29 +1200 | Westpac

Mary Quin joins Westpac NZ board Experienced international executive and director Mary Quin has been appointed to the board of Westpac New Zealand. Currently the Chief Executive of Callaghan Innovation Ms Quin returned to New Zealand in 2013 after a ...More >>

NPT full-year distributable profit rises 1%

Mon, 23 May 2016 13:33:53 +1200 | BusinessDesk

May 23 (BusinessDesk) - NPT, the listed property investor whose managing director Kerry Hitchcock left suddenly in March, reported a 1 percent gain in full-year distributable profit and said it will lift its dividends for 2017, a year in which it is focused ...More >>

Reserve Bank seeks submissions on proposed outsourcing rules

Mon, 23 May 2016 12:19:45 +1200 | Reserve Bank

The Reserve Bank is seeking submissions on proposed amendments to rules about outsourcing of services by registered banks. More >>

 

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