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Christchurch City Holdings Limited (CCHL) has today completed the acquisition of the remaining shares in Lyttelton Port Company (LPC) with the conclusion of the compulsory acquisition process.
The NZD has been the worst performing currency over the past 24-hours, declining 1.4% relative to the USD. The NZD/USD trades at 0.7820 this morning.
By Betty Lam (Sales Trader, CMC Markets)
After seven consecutive sessions treading green, the local market toyed with mild red at the opening before support for the financials boosted the bourse back into slight green.
Christchurch’s Commodore Airport Hotel will begin trading independently from November 1, following the conclusion of an 18- year franchise association with Millennium Hotels.
By Michael McCarthy (chief market strategist, CMC Markets)
The Reserve Bank believes that good risk management supports innovation and sustainable growth, so its regulatory regime emphasises risk management rather than risk avoidance.
With inflation low, now is a good time for workers to negotiate for pay increases that outstrip price rises and deliver real increases in wages and salaries.
The consumers price index (CPI) rose 0.3 percent in the September 2014 quarter, Statistics New Zealand said today. This is the third consecutive quarterly rise of 0.3 percent.
The National government is using uncontrolled migration as a crude device to drive down wages and lower living standards, says New Zealand First.
Chatham Rock Phosphate is pleased the second staff report, released by the Environmental Protection Authority today, contains no conclusions or recommendations, managing director Chris Castle said today.
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