Tuesday , May 30 2017
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NZ dollar soars to 7-year high against weak yen on Abe poll plans

The New Zealand dollar soared to the highest in more than seven years against the yen on reports Prime Minister Shinzo Abe will call a snap election, seeking a mandate for further economic reforms including an increase in sales tax. The kiwi touched 90.33 yen, its highest level since October 2007, and …

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While you were sleeping: Profit-taking caps advances

Wall Street slipped, after both the Dow and the S&P 500 climbed to fresh record highs earlier in the session, as investors weighed whether the outlook for corporate earnings justified pushing equities higher still. In afternoon trading in New York, the Dow Jones Industrial Average slipped 0.08 percent, while the …

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Comvita sets up JV with East Taupo Lands Trust to secure honey supply

Comvita, which produces health products derived from manuka honey, has entered into a joint venture with East Taupo Lands Trust to harvest manuka honey, securing the supply of its main ingredient. The joint venture Kaimanawa Honey GP will initially start with 3,000 hives to harvest manuka honey on Ngati Tūwharetoa trust’s land holdings, the Te Puke-based company …

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While you were sleeping: Equities lift on oil, data

Wall Street rose, pushing the Dow to a record high, as the price of oil rebounded and Republicans won control of the Senate. In afternoon trading in New York, the Dow Jones Industrial Average rose 0.53 percent, the Standard & Poor’s 500 Index gained 0.47 percent, while the Nasdaq Composite …

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Dairy slide bottoming out? Phew.

 Dairy product prices were relatively stable in the latest GlobalDairyTrade auction, with the whole milk powder price index advancing. The GDT average winning price edged higher to US$2,649, up from US$2,646 three weeks ago, though the GDT price index slipped 0.3 percent. Some 45,499 tonnes of product was sold, down …

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NZ Super Fund ends AMP Capital’s 12-year mandate

The New Zealand Superannuation Fund, which was set up to partially fund the cost of a ballooning baby boomer pension bill, has ended a 12-year mandate with AMP Capital to manage part of its local equity portfolio. The pension fund’s manager, the Guardians of New Zealand Superannuation, terminated the active equities …

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NZ govt’s social housing plans aim to alleviate poverty, PM Key says

The government’s plan to increase the private provision of state-housing is part of a wider goal to alleviate the country’s most vulnerable by putting more cash in their pockets, Prime Minister John Key says. Speaking at his weekly post-Cabinet press conference in Wellington, Key told reporters the government expects to …

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