Monday , July 6 2015
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NZ Bank profits lift despite pressure on net interest income – PwC

New Zealand’s five major banks (ANZ, ASB, BNZ, Kiwibank and Westpac) have continued to show strong profits and lending growth in the first quarter of the 2015 however lending margins are beginning to contract due to stiff competition. Net profit before tax increased by $94 million or 5.9% to $1.69 ...

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NZ dollar heads for 1.8% weekly decline as Greek referendum looms

The New Zealand dollar is heading for a 1.8 percent weekly decline as financial markets remain volatile ahead of Greece’s referendum on whether to accept a bailout package from its European creditors, and as the wheels start coming off the local economy. The kiwi dropped to 67.18 US cents at 5pm ...

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BAT NZ sucks up excise tax hike as annual earnings slip 3.9%

British American Tobacco Holdings (New Zealand), the nation’s largest cigarette company, reported a 3.9 percent decline in annual profit as it absorbed the government’s latest hike in excise tax. The local arm of British American Tobacco, whose brands include Pall Mall, Benson & Hedges and Dunhill, reported net profit of $126.5 ...

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Greece Default: The World Reacts – NZ INC’s Best of the Web

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Sunday July 5: Top English-speaking economists are either alarmed or aghast over Europe’s handling of the crisis in Greece. Several Nobel prize winners say it has been exacerbated, time and again, by an unnecessarily rigid approach by Germany. The Washington Post has opted for a lighter approach. http://www.washingtonpost.com/blogs/wonkblog/wp/2015/07/04/a-hilarious-monty-python-sketch-explains-why-greece-is-in-a-huge-crisis/ Friday, July 3: ...

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MRP’s Metrix cans Trustpower contract before it begins

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MightyRiverPower’s Metrix metering business has walked away from a deal with Infratil-controlled Trustpower that would have supplied the power company’s 242,000 electricity customers with smart meters. The Auckland-based company decided not to proceed with the contract after reviewing the systems development to date and ongoing requirements, it said in a ...

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