NEW YORK (Reuters) – Some investors are preparing for a hawkish turn from the Federal Reserve by buying the cyclical, economically-sensitive names they gravitated to earlier this year, as expectations grow that the central bank is zeroing in on fighting inflation.FILE PHOTO: “Stock Exchange” is seen over an entrance to the New York Stock Exchange […]
(Reuters) – Chinese property developer Kaisa Group Holdings Ltd said on Friday it failed to secure the minimum 95% approval it needed from offshore bondholders to extend the maturity of a $400 million note due next week, raising the risk of a default.A sign of the Kaisa Plaza, a real estate property developed by Kaisa […]
From tiny houses and a Coromandel bach to Auckland’s new $1 billion PwC Tower at Commercial Bay- Te Kāhui Whaihanga the New Zealand Institute of Architects has just named 26 national award-winning new, restored and heritage projects. A garden shed and carport on a Bay of Plenty farm by Common Space, a home built out […]
Mortgage rates have risen sharply in the last six months but term deposit rates have not gone up anywhere near as much. In June the two year fixed term mortgage rates were around 2.49 per cent. Now they have risen to around 4.35 per cent at the main trading banks – an increase of 186 […]
Rebranding a company – particularly when it’s one of New Zealand’s oldest and has a powerful sector name – means going on a journey and being “prepared not to know where you’re going to land”. So says Mark Eglinton, chief executive of the NDA Group, the 127-year-old homegrown stainless steel engineering heavyweight with a global […]
BEIJING (BLOOMBERG) – China’s struggling real estate developers had another miserable month in November as a slump in home sales deepened. Contract sales by the country’s top 100 developers plunged 38 per cent from a year earlier to 751 billion yuan (S$161 billion), sharper than the 32 per cent drop in the previous month, according […]
Lights, cameras, action – land is being bought for a new television series to be filmed in Auckland. Giant American film and television studio Warner Bros. has won official state consent to buy a housing site here for a new TV series. The Overseas Investment Office granted its application to buy 0.8ha of freehold Auckland […]
Stock markets across Europe have recovered some losses at the open despite lingering fears the Omicron variant will knock the global economic recovery from coronavirus pandemic damage. Following a bloodbath for shares globally on Friday, that saw the FTSE 100 in London suffer its worst daily percentage losses since June 2020, values rebounded somewhat. However, […]
Entrepreneur Jake Millar died, aged 26, over the weekend. The Herald understands Millar was in Kenya at the time of his death on Sunday (New Zealand time). Millar had a storied business history and had moved to Africa earlier this year to restart his career. The death of Millar adds to the family tragedy, which […]
An airline group says time is running out for the Government to give carriers more certainty about borders. Overseas airlines have been left scratching their heads after yesterday’s Governmentannouncement about easing border rules, saidJustin Tighe-Umbers, co-chair of the New Zealand Aviation Coalition (NZAC). “They’re looking at our high vaccination rates and how out of step […]