What's on in business, Monday June 16
What you need to know on Monday morning, June 16.
- NZX50 down 24.603 points (0.47 per cent) to 5170.507
- NZ dollar at US86.61 cents, A92.15c, 88.38yen, 51.05p, €63.94c
- Brent crude oil at US$113.50 a barrel (up US$2.93)
- Spot gold at US$1274.70 an ounce
What's on today
- The BNZ-BusinessNZ performance of services index will show whether the service sector maintained its strong growth in May.
- Wellington Drive Technology holds its AGM at 3pm, 21 Arrenway Drive, Rosedale, Auckland.
- Kiwi Income Property Trust goes ex-dividend (final), paying 2.2c a share on June 20
Stocks to watch
- Sky Television: New Zealand's pay TV provider will attract plenty of interest today due to speculation it could be about to buy internet provider Orcon. Sky is refusing to comment on the rumour. Its British counterpart BSkyB shook up the internet market in Britain recently when it began offering its pay-television subscribers two year's free unlimited broadband.
Top international news
- France's Finance Minister said on Sunday that talks between BNP Paribas and US authorities over a potential fine for the bank for breaching US sanctions had progressed towards a "more equitable" level.
US authorities - five of them in all, including the New York financial regulator - are investigating whether BNP evaded US sanctions against Iran and other countries between 2002 and 2009.
BNP may have to pay a fine of about US$10 billion (NZ$11.5b) and face other penalties such as being suspended from clearing clients' dollar transactions, sources close to the situation have said.
The French government has said such a fine would be "disproportionate."
Something else for your morning
- Wellington-based Wishbone Design studio's flagship product is the Wishbone Bike which starts with three wheels to help babies walk. It transforms into a pedal-less bike which itself can be adapted so it grows with a child to the age of 5. In the 2013-14 year they sold to 400 retailers and 19 distributors in 40 countries. Wishbone products are sold in 1000 stores worldwide. Wishbone is a finalist in The Dominion Post-sponsored Wellington Gold Awards, to be held this Thursday.