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Warehouse Down 16 Pct Early, But Wider Market Gains

Wellington, July 31 NZPA - Shares in retailer The Warehouse tumbled when the stock exchange opened today, following a Court of Appeal decision preventing takeover bids by Woolworths and Foodstuffs.

NZOG Reports $234.6m Full Year Revenue

Wellington, July 31 NZPA - New Zealand Oil and Gas (NZOG) is reporting full year revenue of $234.6 million, up from $4.2 million the year before due to earnings from the Tui area oilfields off the Taranaki coast.

Plenty Of Room For Interest Rate Cuts: RBNZ

Wellington, July 30 NZPA - Reserve Bank Governor Alan Bollard sees "plenty of room" for further interest rate cuts.

NZ Sharemarket Follows Overseas Lead, Bouncing 1.6 Pct

Wellington, July 30 NZPA - The stock exchange followed the lead of overseas markets with a 1.6 percent bounce today. Top stock Telecom gained 9c, or 2.5 percent, to 368 as investors dragged the stock further up from a low of 325 a fortnight ago.

Inflation Targeting Working Well, Says Bollard

Wellington, July 30 NZPA - The system of inflation targeting pioneered by New Zealand was serving it well despite the annual inflation rate being at 4 percent and expected to hit 5 percent this quarter, Reserve Bank Governor Alan Bollard said today.

Miners Stage Election-year Lobbying At Big Minerals Conference

Wellington, July 25 NZPA - Miners are mounting a major lobbying campaign in the run-up to the general election and calling for a re-think on support for exploration.

Miners Say Extraction Industries Could Do Better For Economy

By Kent Atkinson of NZPA Wellington, July 25 NZPA - Miners say New Zealand has $140 million worth of metallic minerals left in the ground , but needs a better approach to extracting wealth from both those minerals, and its oil, gas and coal.

Profit Takers Send NZ Sharemarket Down

Wellington, July 25 NZPA - Profit takers and a negative steer from Wall Street sent the sharemarket lower in early trading today after its biggest rise of the year yesterday, spurred by the Reserve Bank interest rate cut.

ASB First Bank To Respond To Reserve Bank Rate Cut

By Simon Louisson of NZPA Wellington, July 24 NZPA - ASB Bank today responded to the Reserve Bank's quarter percent cut in the Official Cash Rate (OCR) with a matching cut to its key two-year fixed rate.

Interest Rate Cuts Will Be Slow To Filter Through,say Economists

By Simon Louisson of NZPA Wellington, July 24 NZPA - A five-year wait for the Reserve Bank to cut interest rates ended today but it may take until well into next year before the benefits filter through.