Business

Market close: Solid company results fail to please investors

The New Zealand sharemarket is presently proving hard to please. Solid company results continue to flow through, and instead the market has shrugged its shoulders and neared correction territory with its 13th drop in 16 trading days this month. The S&P/NZX 50 Index was down 37.39 points or 0.3 per cent to 12,388.84, just short […]

Business

Market watchdog FMA slams NZX over cybersecurity breaches, says critical gaps remain

A market watchdog has released a damning report on cyberattacks that hit the NZX over August and September last year, forcing it offline for several trading days, plus an earlier, volume-related glitch that forced it offline during April 2020. The Financial Markets Authority said the NZX had been short on technology and people skills – […]

Business

S&P, Nasdaq close at record highs on optimism about Biden stimulus plan

(Reuters) – The S&P 500 and Nasdaq closed at record highs on Thursday, propelled by optimism about more pandemic relief under the Biden administration to support the economy after data showed a tepid labor market recovery.FILE PHOTO: The New York Stock Exchange (NYSE) is seen in the financial district of New York, U.S., January 13, […]

Business

China Luxury Goods Market to Grow 48% This Year, Says Bain and Tmall

SHANGHAI — The luxury goods market in mainland China will likely achieve 48 percent growth in 2020, reaching nearly 346 billion renminbi, or $52.8 billion, according to a joint report by Bain and Tmall released Wednesday, doubling China’s overall share of the global luxury market this year. On the e-commerce front, China’s annual luxury online […]