Tuesday , May 30 2017
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Finance

BNZ grows worried about ‘near-recession’ as Key talks economy up

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The Bank of New Zealand is increasingly concerned the economy is grinding to a halt following today’s confirmation in the ANZ Bank Business Outlook survey of slumping business confidence. “As each day passes, the likelihood of our alternative scenario, of an economy stumbling to near-recession, increases,” said head of research Stephen …

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Morrison fund raises RMB1.87billion for Chinese renewable investments

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HRL Morrison & Co subsidiary JIDA Capital Partners and Shenzhen-based CGN Private Equity Fund Management have raised 1.87 billion Chinese yuan (NZ$451.7 million) from institutional investors to launch a new fund focusing on Chinese renewable energy assets. The unlisted private equity infrastructure fund, CGN Fund III, is seeking to raise …

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NZ shares rebound led by Westpac, ANZ, Spark

New Zealand shares rose, led by Westpac Banking Corp, as dual-listed stocks rebounded from a sharp drop yesterday. Australia and New Zealand Banking Group and Spark New Zealand gained. The S&P/NZX 50 Index rose 5.98 points, or 0.1 percent, to 5613.29, somewhat reversing yesterday’s biggest drop in four years. Within the index, 15 …

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Beingmate shares drop to 2 1/2 year low in Chinese stock rout

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Beingmate Baby & Child Food Co shares fell to their lowest since February 2013, after being caught up in the global share-market rout that’s dented Chinese equity markets, slicing more than $200 million from Fonterra Cooperative Group’s investment in the Hanzhou-based infant formula maker. The Shenzhen stock exchange-listed shares dropped …

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Contact Energy plans to sell up to $125m of six-year bonds

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Contact Energy, which generates about a quarter of New Zealand’s electricity, plans to sell as much as $125 million of six-year bonds in the final step of its refinancing programme. The Wellington-based company will offer $100 million of unsecured, unsubordinated, fixed-rate bonds to institutional investors and New Zealand retail investors, with the …

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Contact Energy plans to sell up to $125m of six-year bonds

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Contact Energy, which generates about a quarter of New Zealand’s electricity, plans to sell as much as $125 million of six-year bonds in the final step of its refinancing programme. The Wellington-based company will offer $100 million of unsecured, unsubordinated, fixed-rate bonds to institutional investors and New Zealand retail investors, with the …

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World Week Ahead: China and the Fed

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ECONOMY  The Federal Reserve is preparing for its annual meeting in Jackson Hole amid intensifying concern the slowing growth in China will impact the global economy and US corporate profits. Wall Street sank last week, along with other equity markets, as did US oil which briefly slid below US$40 a …

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