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Business and Finance Diary - week to August 29

Job-match website testing Kiwi waters

Gen George, OneShift

Online recruitment firm headed by 23-year-old Australian, who raised NZ$5.55m for business, expands into NZ.

Markets acting nervous as Fed officials convene

SMALL STEPS: US Federal Reserve Chairman Ben Bernanke.

Recent days show why it's good the Fed is moving slowly in winding down its stimulus programme.

Asian shares pinned near 5-month lows

Nikkei

Concerns leave Asian shares pinned near five-month lows, with Turkey also in the spotlight.

Aussie shares stage comeback

australian dollar

Australian shares have recovered some of the heavy losses posted in early trade, but remain weak.

Overvalued kiwi dollar 'a concern'

Bill English

Bill English says the kiwi dollar is overvalued against the Australian and is putting pressure on exporters.

Wall St closes lower on Fed concerns

wall st

US stocks have fallen on concern about the Federal Reserve's plans for withdrawing stimulus.

NZX falls in morning trade

NZX

Weak trading volumes mean today's drop in the NZ stock market is "nothing to worry about".

Sharp Air NZ share price slump under scrutiny

air new zealand

The stock exchange is understood to be investigating the causes of a sharp drop in Air New Zealand shares in the immediate aftermath of the government sell down.

NZX reappointed to world exchange body

nzx

The New Zealand Stock Exchange has been reappointed to the World Federation of Exchanges.

NZ firms 'shut out' of big IRD project

IRD, Inland Revenue

Kiwi firms appear to have been shut out of lead roles in what is likely to be Government's biggest IT project.

Kiwi gets boost from RBNZ

Nz dollars

The NZ dollar pushes higher against the greenback and aussie after upbeat Reserve Bank statement.

Demand for NZ bonds hits record

Nz dollars

The Government is scaling back bond issuance while appetite for the NZ dollar drives a record year for the Kauri market.

Kiwi slips after tighter lending rules

coins money new zealand kiwi

NZ dollar drops below US80c after RBNZ's surprisingly tough restrictions on low equity home loans.

UBS calls time on golden share run

UBS

UBS warns the tailwinds seen in New Zealand shares may be running out of puff.

Analysts: Tiwai a quick fix

Stock market NZX

Investors are calling the news that Meridian Energy and the Tiwai Pt aluminium smelter have struck an electricity deal a good thing for the partial float of the state-owned power company, but not the sector.

Fund manager snaps up Fonterra units

NZ money, cash

Aussie listed fund manager spends $8.3m buying up Fonterra's units on the back of the whey contamination scare.

Kiwi rises on rate hike outlook

Nz dollars

Interest rate expectations push NZ dollar to a nearly five-year high against the Aussie.

Kiwi dollar surges

US dollars, money, greenback

The New Zealand dollar is trading at the highest levels it has seen this month against the greenback.

Kiwi rises high against aussie

Australian money

The kiwi trades as high as A86.23c today reaching a high not seen for nearly five years.

Optimism, spending boost kiwi

Money, cash, New Zealand dollar

The New Zealand dollar is the highest it has been against the greenback this month.

Bums on seats will be project's success

IAG chief executive Jacki Johnson

A project to get more women and better ethnic diversity in top management launches next month. What will it do that existing diversity efforts can't?

Major win for Kiwi voucher-software

VMob

Smartphone voucher company VMob announce a three-year deal with Indonesia's largest telco.

Share sale to raise equity for IT leader

Sam Morgan

Leading Christchurch IT firm offering $27m worth of shares to the public, with Trade Me's Sam Morgan signing up for $1m.

Summerset sell-off theories outlined

Summerset

Quadrant Private Equity's impending sale of its stake in Summerset may be behind the bid to dual list the firm on the Australian share market.

NZX quietly scores big derivatives triumph

NZX

Improved overseas access to the NZX Dairy Futures market gives the market operator a big win.

NZX50 outguns ASX, Asian markets

Economy, performance, graph, chart

The NZX50 outperformed the ASX and Asian markets, grinding up 23 points or 0.6 per cent to 4436.7 on a moderate volume of 33.7 million shares traded.

Shares follow global markets higher

nzx

The NZX 50 Index was up 3.296 points or 0.1 per cent to 4412.835 in its first bout of trading.

NZ dollar dominance continues

dollar

Kiwi dollar reaches 20-month high above US86.3 cents.

Kiwi set to push through US86c again

US dollars, money, greenback

Kiwi dollar is expected to gain further against the US dollar - possibly reaching highs not seen for two years.

Market falls at day's end

Stock market NZX

The NZX50 slipped 10.5 points or 0.24 per cent to 4409.5 as heavyweights succumbed to profit-taking.

NZX joins global rally

shares

The New Zealand sharemarket followed global stocks upwards today.

NZ dollar eyes US86 cents

Reserve Bank of New Zealand dollar notes

The kiwi is expected to extend post-float highs up through US86 cents within 24 hours.

Kiwi rises as assets in favour

Nz dollar money coins

The New Zealand dollar rocketed through the US85 cent mark yesterday as falling international interest rates boosted demand for Kiwi assets.

NZX50 strong despite Korea tension

nzx

The NZX50 reclaimed some of this week’s lost ground, rising 25 points despite some jitters over tensions in North Korea.

Kiwi pushes through US85 cents

Nz dollar money coins

Long-term economic trends favour the kiwi as a good investment.

Positive news boosts sharemarket

nzx

The NZX 50 Index was up 4.952 points, or 0.1 per cent, to 4400.16 in the first bout of trading.

Sharemarket brushes off rosy forecast

shares

The NZX50 trod water, unmoved by an NZIER quarterly survey that pointed to 3 per cent annual economic growth.

RBNZ warning sends Kiwi higher

dollar

The currency continues its climb as central bank comments about a possible housing boom catch the eye of international investors.

Market drops on moderate volumes

Stock market NZX

The NZX50 fell 0.8 per cent or 35.8 points to 4397 as buyers took their foot off the gas.

Sharemarket extends gains

shares

Shares rise as more weak United States economic data leads to a spike in gold prices.

Kiwi starts new week stable

dollar

NZ dollar retains strength against the greenback following more weak economic data out of the United States.

Looks for a yield hold market steady

nzx

Shares treaded water in muting trading today as investors' hunt for yield held the NZX 50 just above surface.

Shares retreat from record high

nzx

The NZX 50 Index was down 11.792 points, or 0.3 per cent, to 4,418.375 in the first bout of trading.

NZ dollar rises on euro confidence

dollar

Kiwi rises as fears ease that the Cyprus-style bailout will become a template for future eurozone bailouts.

NZ shares hit all-time high

cash

NZ shares rose to an all-time high today, defying widespread gloom in overseas markets.

US pessimism hits NZ shares

shares

NZ shares dropped into the red after US data dented optimism about the world's largest economy.

Kiwi stays firm against US dollar

NZ dollar rises

The New Zealand dollar has retained its strength against the greenback after more weak economic data out of the United States overnight.

NZ shares lift after Fonterra auction

nzx

NZ shares were up marginally on the back of soaring dairy prices in last night's Global Dairy Trade auction.

Dairy auction high lifts dollar

Kiwi dollar

The New Zealand dollar has continued to climb against the greenback after dairy prices soared to all-time highs in last night's Fonterra online auction.
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