The New Zealand dollar fell as growing fears of a slowing Chinese economy pushed down metal prices and weighed on currencies of nations producing raw materials.
The New Zealand dollar gained as Federal Reserve Jerome Powell continued to deliver an upbeat assessment of the world's biggest economy in his second day of testimony, while US trade relations were also in view.
Funds from the sale of Hawkins Construction to Downer EDI were recycled back into the leftover businesses to settle a claim on a major project, wind down the remaining projects, and prepare for a growing number of legal disputes, the receiver says. Paul McBeth reports on company wind-ups after quake rebuild and leaky building claims that means almost 1,000 contractors are owed about $44 million.
The Financial Markets Authority may take regulatory action against three financial services firms after its latest probe into replacement life insurance. BusinessDesk's Paul McBeth reports.
New Zealand's banking minnows loaned more aggressively in the first three months of the year, a period advisory firm KPMG noted as showing a deterioration in asset quality which contributed to smaller sector profit. Paul McBeth from BusinessDesk reports.
The New Zealand dollar fell from a week-high after Federal Reserve chair Jerome Powell told legislators the central bank will continue to raise interest rates gradually with the world's biggest economy in good shape.
New Zealand house sales fell 1.6 percent in June from a year earlier as a cooling in activity followed the onset of winter was limited to what's considered affordable housing, pushing out the time to sell and sapping the number of available listings, says the Real Estate Insitute.
The New Zealand dollar was little changed ahead of local inflation figures, which will firm up views on whether the Reserve Bank has scope to cut the official cash rate any further, and as Federal Reserve chair Jerome Powell prepares semi-annual testimony.
Fletcher Building has picked up KiwiRail chief executive Peter Reidy to head the company's construction division, which oversees the problematic Buildings + Interiors unit.
The liquidators of former Hawkins businesses that were ringfenced when Australia's Downer EDI acquired the New Zealand construction company are trying to unpick $453 million of related party loans, a move that will show if there's any money left for sub-contractors owed almost $44 million. Paul McBeth reports.