Apple Pay Later users will be ableto manage, track and repay their loans in their Apple Wallet, the company said in a release on Tuesday.
Apple shares were down 1.3 per cent at the time of writing.
The pay-later service Affirm dropped 9.5 per cent after Apple announced a competing service.
Tesla had declined 2.5 per cent. The National Highway Traffic Safety Administration (NHTSA) said it would open an inquiry into 50,000 Tesla Model X vehicles regarding alleged front seatbelt failures after receiving two complaints about it.
Alibaba was up 12 per cent at the time of writing after the e-commerce giant said it would split its company into six separate business groups, with each group having the potential to raise outside funding and go public.
Each business group will be managed by its own CEO and board of directors. Alibaba said the move was “designed to unlock shareholder value and foster market competitiveness.”
Commodities
Brent Oil is currently trading 1.1 per cent higher at US$79.00 a barrel, while gold is trading up 0.7 per cent to US$1,970.70 per ounce.
The US 10-year Treasury bond rose 2 basis points to a yield of 3.57 per cent.
The top performers in the New Zealand market on Tuesday were Mainfreight, up 4.6 per cent, Briscoe Group increasing 4.3 per cent and Mercury with a 4.0 per cent rise.
The Commerce Commission has published a statement of issues relating to an application from Connexa (30 per cent owned by Spark) to acquire certain passive mobile telecommunications infrastructure assets from 2Degrees. Submissions are due by April 14.
REINZ reported 1023 sales of lifestyle properties in the three months to February 2023, a 41 per cent drop from the same period a year ago.
REINZ also reported there were only 305 farm sales in the three months ended February 2023, compared to 460 farm sales for the three months ended February 2022, a 34 per cent decline.
Looking ahead for today, there is the NZ King Salmon full year earnings and the Property for Industry AGM.
Australia
The ASX 200 traded up 1.0 per cent on Tuesday.
The energy sector was the best performing sector and surged 4.1 per cent. Materials was also in the green, up 2 per cent.
Liontown Resources shares jumped 68.5 per cent after a takeover bid from US commodities giant Albemarle at a 63 per cent premium to the last closing price of Liontown Resources.
United Malt Group shares were up 30.8 per cent. Shares were placed in a voluntary trading halt on Monday, pending the company’s response to a takeover proposal.
United Malt confirmed it had received a $5-a-share cash offer from Malteries Soufflet, part of Soufflet Group, and backed by European agricultural investor InVivo and KKR.
Malcolm Ashcroft was appointed as CFO of Downer from July 2023.
Downtown Brisbane. Australian retail sales data showed the biggest spending surges were at department stores, apparel, and cafes, restaurants and takeaways. Photo / Supplied
Australian Retail Sales for February were up 0.2 per cent month on month and up 6.4 per cent year on year.
Through the month, the largest increases were in department stores, apparel, and cafes, restaurants and takeaways. Through the year, cafes, restaurants and takeaways had the largest growth whilst household goods was the only industry to record a fall.
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