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Jeremy Sullivan

ANZ term deposit rates now all under 1%. Is this the end for term deposits?

One bank has lowered its term deposit rate card so that no offers are above 1.00%. ANZ has cut most of its rates, with their 'highest' now just 0.90% - and you need to commit to an eighteen month term to get that. The banks themselves know that they can get all the funds they need from the RBNZ in their upcoming Funding for Lending program at discounted rates. Term deposit interest is an income stream that has dried up. With...

New Zealand's a2 Milk forecasts weaker revenue on disruption to Chinese sales, shares plunge

(Reuters) - New Zealand's a2 Milk Co Ltd ATM.NZ forecast lower first-half revenue on Monday as lockdown measures in Australia's Victoria state hurt its informal Chinese sales channel more than expected, sending its shares down more than 14%. Sales from the “daigou” channel, where shoppers in China buy products in bulk from stores outside the country and import them informally, account for a significant portion of the dairy firm’s infant milk formula (IMF) revenue in Australia and New Zealand. The...

Market close: NZX halts trading as it nears record high.

By: Graham Skellern: Trading on the New Zealand sharemarket was halted for nearly an hour late in the afternoon, but it had still done enough work to surge closer to its all-time high. The stock exchange experienced a network outage within the Wellington and Auckland data centre, the NZX website was down and trading stopped just before 4pm. An hour later the S&P/NZX 50 Index emerged at 11,993.18 points, up 72.10 points or 0.6 per cent. "NZX's network service provider...

COVID-19 Update - Level 3 & 4 - Hamilton Hindin Greene's response.

Update - Level 3 & 4 - Hamilton Hindin Greene's response Hello, As you will be aware the Prime Minister has lifted New Zealand’s COVID-19 alert status to Level 3 and provided a warning of the alert level being raised to Level 4. This status will be in place for “a minimum four weeks”. Under Level 4 all non-essential services will close. Financial Services, the New Zealand Capital Markets, and the NZX are considered to be an essential service and will...

NZ Company Update - Fisher & Paykel Healthcare

NZ Company Update - Fisher & Paykel Healthcare Last Price: $26.10 NZD Sector: Healthcare Market Cap: $14.48Bn NZD Company Description Fisher and Paykel Healthcare is currently New Zealand’s largest listed company and is up an incredible 93.85% since the beginning of 2019. They are a global leader in medical devices and systems for use in respiratory care, acute care and in the treatment of obstructive sleep apnoea. Its products are sold to hospitals and healthcare facilities around the world through direct...

What Coronavirus Could Mean for the Global Economy and your Portfolio

What Coronavirus Could Mean for the Global Economy and your Portfolio Having largely ignored Covid-19 as it spread across China, global financial markets have reacted strongly as the virus has spread to America, Europe, Africa and the Middle East, stoking further fears as the global pandemic ramps up. As a result Covid-19 risks have been priced aggressively across various asset classes such that a recession in the global economy is almost a foregone conclusion. Business leaders are now asking how bad...

Capital Gains Tax - Is it time to sell the rental?

Capital Gains Tax - Is it time to sell the rental? For decades owning a rental property has been an aspiration for many New Zealanders. After all where else can you safely invest? A generation were caught out by the 1987 share market crash and most have been too afraid to step back in. With leverage, preferential tax treatment(s) and limited housing supply, it has proven to be a good bet for the most part. Now the potential for a Capital...

What caused the Cryptocurrencies to crash?

Cryptocurrencies have dropped a long way since late 2017 and early 2018. The so-called “alt-coin” market is sitting at a yearly low of $US187 billion. While that sounds like a lot of value, this amounts to a total of $US642b that has disappeared since its all-time high of $US829.96b in January this year. Almost all cryptocurrencies – Bitcoin, Ethereum, Litecoin, Ripple – are shedding billions in value from their market cap. Ethereum, one of the best-performing versions during last year’s...
Filed under Jeremy Sullivan \ NBR

Orion Health's fading star - with Jeremy Sullivan

For this weekend's feature business article in the New Zealand Herald, Jeremy Sullivan chats with Holly Ryan on the rise and fall of former market darling Orion Health. It had "huge growth potential", "elegant products", a share price that topped $6 and a market value of more than $1 billion. Fast forward to today, with the market value below $160 million and a share price that has been as low as 57c, and the question has to be asked: what went...

Cash & Term Deposits - Not what they used to be

The global financial crisis highlighted the enormous fiscal cost governments can incur in providing financial support for troubled banks. A major challenge for policy-makers is how to limit the disruption of a bank failure on the economy whilst minimising the overall cost to the taxpayer. At the same time, it is important that resolution options do not erode market disciplines on bank creditors to act prudently in their dealings with the bank. The Reserve Bank first began considering options for responding...
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