21 Apr 2015

Business Briefs

8:38 am on 21 April 2015

A round-up from Radio New Zealand's business reporters - including a profit rise for Goldman Sachs, great expectations for international airlines, and a Netherlands-New Zealand business agreement.

NZX reviews fines and penalties

The New Zealand stock exchange (NZX) is seeking feedback on whether the penalties the Markets Disciplinary Tribunal deals out to companies that break its listing rules, are indeed fair.

The NZX also wants to know whether it should introduce a system of smaller fines to deal with minor breaches, based on a model that's currently used by the Australian Stock Exchange.

The head of policy at the NZX, Hamish MacDonald, said it was the first time its penalities have been reviewed since the Tribunal was created in 2004.

Submissions close on May the 29th, and the NZX will consult again on any changes it proposes to make.

Moa CFO heads to EnviroWaste

Moa's chief financial officer, Ken Bugden, has resigned.

He's moving to EnviroWaste Services.

Malcolm Bloor will take over the role until a permanent replacement is found.

China central bank cuts cash

China's central bank is cutting the amount of cash banks have to hold in reserve, by one percentage point.

The aim is to release more cash and stimulate the country's slowing economy.

The People's Bank of China says it will take effect from this week.

China's economy grew by 7 percent in the first quarter, the lowest since the financial crisis of 2009.