Wednesday , April 26 2017
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Business Desk

NZ weekly rents rise 5.3% in November as annual increases slow

Median national housing rents rose at an annual pace of 5.3 percent in November, slowing from a month earlier as rental prices continue to plateau, according to online auction site Trade Me. The national median rent was $400 a week across all property types in November, unchanged from October, and slowing from …

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NZ dollar drifts lower has slide in crude oil saps risk appetite

The New Zealand dollar fell as the continued decline in crude oil prices stoked concern that global economic growth may be faltering, weighing on equity markets and sapping risk appetite. The kiwi fell to 77.61 US cents as at 8:30am in Wellington, from 77.70 cents in late New York trading …

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Beijing has allegedly corrupt NZ-resident Chinese in its sights

The Chinese government has its eye on an unknown number of New Zealand-resident Chinese citizens who are thought to have established themselves here with funds obtained through corrupt practices, the Prime Minister, John Key, says.  The issue came up in talks between Key and the Chinese president, Xi Xinping, during …

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Rubicon reiterates IPO plans for ArborGen, laments languishing share price

Rubicon, the forestry biotech company spun out of Fletcher Challenge, reiterated plans for an initial public offer for ArborGen, the biotech forestry company it holds a third of, as it laments its languishing share price. The Auckland-based company has been mulling an ArborGen share float since August 2013, after an aborted attempt in 2011, though …

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NZ wholesale trade rises 0.7% in Sept quarter, led by auto industry

New Zealand wholesale trade sales rose in the third quarter, led by gains in the auto industry. Seasonally adjusted sales rose 0.7 percent to $22.08 billion in the three months ended Sept. 30, adding to a 1.8 percent increase in the second quarter, according to Statistics New Zealand. On an …

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Evolve shares climb 7 percent on NZX debut

Shares of Evolve Education Group, the childcare business, rose 7 percent on its NZX debut after its initial public offer raised $132.3 million in new capital to fund its acquisitions in early childhood education. The stock first traded at $1.07, up from its $1 offer price, and valuing the company at $189.5 …

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NZ dollar gains after ECB stays pat on stimulus, US jobs report looms

The New Zealand dollar gained, following the euro higher, after the European Central Bank refrained from injecting more stimulus into the sluggish regional economy, and ahead of US employment data, which is closely watched by the market. The kiwi rose to 77.80 US cents at 8am in Wellington from 77.46 cents …

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While you were sleeping: ECB fails to deliver

European stocks fell, while Wall Street was mixed, rebounding from earlier losses to inch higher to record highs for both the Dow and the S&P 500, after the European Central Bank failed to deliver on additional stimulus. The ECB also downgraded its forecasts for euro-zone inflation and gross domestic product …

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Vital Healthcare flags A$14.4M of new projects, buys land in Melbourne

Vital Healthcare Property Trust, the country’s biggest listed medical and healthcare property investor, has signalled A$14.4 million of new developments in Newcastle, Australia, and bought land in Melbourne to beef up an existing property in the city. The property investor will spend A$13 million to build a new 42-bed ward …

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Oceania aged-care business planning IPO, in talks with investors

Oceania Healthcare is on track for an initial public offering in early 2015, but the Macquarie Group managed aged-care operator’s chief executive, Earl Gasparich, says he’s also in talks with private investors and funds. The Auckland-based company is seeking new capital to develop prime brownfield sites in Auckland, Tauranga and Nelson, Gasparich told BusinessDesk. That could …

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