The New Zealand dollar can claim the dubious honour of being
the worst performing major currency against the United States
currency over the past month, and by some margin.
China's economy has slowed sharply under the weight of
major domestic imbalances. This will hurt global growth but
the impact on the United States and European economies looks
manageable. Business editor Dene Mackenzie reports.
The delay in Greece repaying its debt to the International
Monetary Fund is likely to cause much market uncertainty in
The Chinese property market has shown signs of weakness since
early last year but this time it is different from temporary
declines in previous years.
Greek's international creditors signalled they were ready to
compromise to avert a default even as a defiant Athens warned
it might skip an International Monetary Fund loan this week.
Restaurant Brands reported a strong start to the financial
year, underpinned by another stellar quarter at KFC, Forsyth
Barr broker Suzanne Kinnaird said yesterday.
Spark New Zealand plans to buy back as many as 40 million
shares on market for up to $100million this year after a
series of asset sales left its balance sheet under-leveraged.
New Zealand's terms of trade rebounded 1.5% in the three
months ended March but falling dairy prices mean the recent
rise is unlikely to be sustained.
The New Zealand and Australian dollars fell sharply against
the US currency yesterday, as US markets reacted to reports
of improved household incomes and construction spending.
Business confidence is starting to slide from its recent
highs, along with the confidence firms have in employment,
investment and their own activity.
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