Super Fund reacts to Brazil tragedy
The New Zealand Superannuation Fund has joined some other big fund managers and the Church of England in calling for independent safety monitoring of tailings dams, following a deadly spill at an iron-ore mine in Brazil that has left at least 120 dead.
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Chinese firm throws more money at Airwork
China's Zhejiang Rifa has injected more equity into Auckland-based Airwork Holdings just one year after fully acquiring the business. The issue was flagged in Airwork's audit report. Rifa made a full takeover for Airwork in September 2017.
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IAG creams it in NZ
Australian insurer IAG must be looking across the Ditch to New Zealand and smiling with its half-year result showing premiums and margins in its New Zealand arm looking much healthier than its home market.
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Power companies cashing in
The favourable dynamic of high power prices and plenty of rain is expected to make its presence felt when the big power generators report their first-half results this month.
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Banks hired to run Napier Port IPO
Hawke's Bay Regional Council has hired two investment banks to run the planned partial privatisation of Napier Port. The local body has also hired corporate advisory firm Flagstaff Partners to advise on the process.
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Air NZ contagion?
Analysts are worried Air New Zealand's earnings forecast down-grade could be the first sign that lower consumer confidence is starting to hit company in the pocket. Or is it because domestic airfares have been fully priced and people are now voting with their wallets?
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Cap in hand
The NZX and the Financial Markets Authority (FMA) shouldn't have too much trouble raising money from the private sector for their capital markets review should extra funding be required. Given the level of concern about the overall depth and breadth of New Zealand's capital markets, most market participants are thought to be interested in supporting what will be an industry-led initiative.
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Boutique fund buys into in Yellow
The emergence of a new Yellow shareholder comes a month after the Kiwi company announced a much-improved financial position following years of red ink after the arrival of Google rocked the business model for directories.
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Fund manager bets against housing market
A note from Milford Asset Management this week confirms suspicions that a gloomy view of the property market is behind the sell-off of retirement village stocks on the NZX.
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BNZ shake-up looms
The Bank of New Zealand looks set for a major shake-up on the back of a departure by one of its top executives amid speculation the bank will merge its partners or business banking division with its retail division.
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Fisher Funds' fee fiasco wake-up call
Fisher Funds has been under fire this week for charging high fees on some of the legacy funds it has acquired as part of its Tower funds management buy-up. The situation raises a number of questions. Why keep running funds if they are no longer competitive with the market and not open to new money?
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