Dene Mackenzie

Dollar falls as Reserve Bank reveals action

Dollar falls as Reserve Bank reveals action

The Reserve Bank has put its money where its mouth is by shorting the New Zealand dollar at a time when the kiwi was high and the central bank believed it was likely to fall over time.

Hopes kiwi will stay lower longer

Hopes rose yesterday the New Zealand dollar would stay lower for longer as dairy prices continue to fall and the United States ends its financial stimulus package next month.

Looking good for investors

The end of the third quarter today is shaping up as a positive one for equity investors, particularly when currency movements are accounted for, Craigs Investment Partners broker Peter McIntyre says.

Diversification boosts profits at Fulton Hogan

Diversification boosts profits at Fulton Hogan

New Zealand infrastructure company Fulton Hogan continued to grow its profits in the year ended June, helped by a consistent performance across all five business streams, managing director Nick Miller said yesterday.

Tough going in Pumpkin Patch but new-year trading looking up

Pumpkin Patch provided no guidance for the 2015 financial year but indicated the first seven weeks of trading in the new year were ahead of the previous corresponding period (pcp).

Squeeze on luxury goods as kiwi falls

Households could soon start feeling the squeeze if the New Zealand dollar continues to fall, putting pressure on imported goods such as fuel, food and large-ticket items like flat-screen televisions and electrical goods.

Parliamentary terms

Special votes are being counted; Prime Minister John Key will not appoint his new ministers until October 20. To fill in time, political editor Dene Mackenzie looks at some Beehive jargon.

Patent in Japan big advance

Patent in Japan big advance

Dunedin-based Pacific Edge has made a breakthrough into Japan with a patent for colorectal cancer prognostic technology having been approved in the world's largest biomedical market.

Credit union doubles profit to $279k

Credit union doubles profit to $279k

Expanding its loan book and working with tradespeople and the Filipino community in Christchurch paid off for NZCU South in the year ended June 30, chief executive Tania Dickie said yesterday.

Competition no damper on bank profits

Competition no damper on bank profits

Intense competition has not stalled the rise in bank profits, KPMG head of financial services John Kensington says.