AGP Executive Report
Last update: an hour agoMarkets: The NZX 50 slipped 0.2% as investors waited for special votes, with exporters Fisher & Paykel Healthcare and Mainfreight weighed down by a stronger kiwi dollar. Election uncertainty: A narrow National-led lead has left businesses facing weeks of coalition talks; business groups are urging parties to provide stability, while the search for a finance minister adds uncertainty. Banking: ANZ New Zealand’s annual net profit fell 7% to $2.36 billion, with higher costs and lower gains from economic hedges; the bank is restructuring its technology team to focus on frontline services. Energy investment: Meridian’s proposed 420MW Western Bays solar farm has been referred for fast-track consent. Corporate results: Apple New Zealand’s revenue rose 18.3% to $1.37 billion. Public sector: RNZ reported an $11.8 million loss and plans to cut the equivalent of 58 full-time jobs.
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