
NZ dollar weakens amid Greece concerns
The dollar weakened as Eurozone leaders stepped up their demands for Greece reforms at meetings over the weekend.
The dollar weakened as Eurozone leaders stepped up their demands for Greece reforms at meetings over the weekend.
Long-suffering Capital+Merchant Finance investors are not yet in line to get any of the assets seized from that company's convicted directors.
The dollar was little changed as risk sentiment improved following a bounce in Chinese equities and new Greece proposals.
5500 Hanover investors are finally going to get back some of their money. What they won't get is their day in court. Hamish Fletcher reports.
The economy has started to slow, with confidence declining as dairy prices remain lower for longer.
"The Australian dollar is among the worst performing major currencies," a BNZ currency strategist says.
NZX says a lack of basic shareholder protections could tarnish the reputation of the country's capital markets.
The dollar fell as commodity prices dropped on concern about waning demand.
The kiwi dollar was little changed overnight as traders awaited further developments in Greece.
The FMA's $18 million Hanover settlement leaves the public none the wiser on whether the six defendants breached disclosure obligations or not.
Milford Asset Management has lost five wholesale clients, including financial services provider Mercer, since its $1.5 million settlement with the FMA last month.
NZX dairy futures pricing continues to point to more weakness in the whole milk powder market, following on from the sharp decline at last week's GlobalDairyTrade auction.
Greece’s “no” vote on austerity measures lead to a tumultuous day of trading across equity markets – including New Zealand and Australia.
The $18m settlement between Hanover Finance's directors and promoters and the Financial Markets Authority should be of some comfort to investors, says John Key
Milford Asset Management has lost five wholesale clients since its $1.5 million settlement with the Financial Markets Authority last month.
Hanover directors take a shot at the Financial Markets Authority as an $18 million settlement is reached with the regulator.
Civil claim against directors and promoters of failed finance company settled just two weeks before court date.
Australia's May interest-rate cut and federal budget measures to loosen small business purse strings failed to provide a significant boost to retail spending in the month.
Financial Markets Authority chief executive Rob Everett says the settlement with Milford Asset Management over market manipulation issues has been an uncomfortable wake-up call.
Because Greece doesn't have its own currency, it couldn't increase its competitiveness and boost growth through devaluation.
New Zealand is enjoying 3.2 per cent economic growth and 0.1 per cent inflation, the statisticians tell us, but Bank of New Zealand economists warn we could see those numbers switch.
Greece is sliding into a full-blown national crisis as the final cash reserves of the banking system evaporate.
Advice released under the Official Information Act reveals a Treasury sceptical of the case for targeting high-LVR investors in Auckland, writes Brian Fallow.
ASB Bank says it now expects the Reserve Bank to slash the OCR throughout this year, returning rates to a record low of 2.5pc.
A firm directed by Luigi Wewege, one of the central protagonists in the Len Brown infidelity scandal, has been kicked off the Financial Service Providers Register.
Business confidence turned negative this month for the first time since February 2011, led by a gloomy agriculture sector.