Live NZX News Today
Kalkine Media is a renowned equity research, investor relations and media firm catering to various market needs. The daily trending news gives an insight into the NZ and global market on the financial, economic and commodities front, keeping its readers well-informed and familiar with the overall market.
Our Live news page updates the readers on various business news and keeps them posted about the listed companies’ latest trading updates. This news section also covers information on cryptocurrency, currency, economic updates, macro updates, along with other trending news.
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25th Jul 12:03 AM NZST
Sky-rocketing house prices poses a risk to New Zealand’s banks
Source: Copyright © 2021 Kalkine Media
The global credit rating agency, S&P Global Ratings, in its recently released mid-year banking outlook, stated that the exceptionally strong rise in house prices in the Kiwi nation might hinder the stability of New Zealand’s banks.
Due to soaring house prices, the economic trends prevailing in the country went from stable to negative.
As the rate of property price escalated to 30% in the current year, the re-emergence of economic risks poses a threat to the country’s banking system, indicating increased levels of long-term credit losses.
The efforts of the NZ Government, as well as the Reserve Bank, have failed to restrain the skyrocketing house prices, as stated by the rating agency.
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25th Jul 12:00 AM NZST
Would the proposed merger of WNZ and Primary Wool uplift the wool industry?
Source: Copyright © 2021 Kalkine Media
As per the latest reports, NZ's farmer-owned companies, Wools of New Zealand (WNZ) and Primary Wool Co-operative, have disclosed their prospective merger with an intention to uplift the country's struggling wool industry.
Following the announcement, 1400 farmers who own Primary Wool Co-operative and 730 farmers from Wools of New Zealand would vote for the proposed merger in November 2021.
Once approved, this merger would witness the end of the cooperative model and transform into a grower owned, as well as a branded consumer wool company in the country.
