Best Buy says Chairman Tyabji will retire June 9

NEW YORK (AP) ” Electronics retailer Best Buy says Chairman Hatim Tyabji will retire June 9, and President and CEO Hubert Joly will become its chairman.Tyabji, 70, has been the company’s chairman since June 2012 and has been a board…

The Opening Bell: Where currencies start on Tuesday, April 14, 2015

Short headline:  NZD finds support at lower levels Tweet By Dan Bell The NZDUSD opens at 0.7447 (mid-rate) this morning. The NZD is lower against all of its major trading partners with the AUD being the only exception, following the release of yesterdays disappointing trade data out of China. In immediate response to the release the NZD fell from 0.7540 …

Seasonal disruptions to blame for slump in China trade data; QSBO inflation indicators could set tone for future RBNZ moves; NZD/GBP markedly lower

Short headline:  NZD & AUD hit by poor Chinese data Tweet By Kymberly Martin Since the start of the week the AUD and NZD have been standout underperformers. The GBP has marginally outperformed the USD. The most notable move in currencies over the past 24-hours was a gap lower in the AUD and NZD, after the release of disappointing China …

Repayment of major April 15 NZGB raising demand, lowering yields. Bad China trade data also weighs on yields. Local eyes on QSBO

Short headline:  Yields falling Tweet By Kymberly Martin NZ swaps closed down 2-3 bps across the curve yesterday. Overnight, US 10-year yields traded up toward 1.98% before returning to trade at 1.94%. With a lack of prominent domestic events yesterday, NZ swaps followed the lead of their AU counterparts. AU swaps dipped after the disappointing China trade figures. AU 10-year …

US budget deficit grows; China trade surplus slumps; Greece prepares to default; NZ Steel on the ropes; Aussie budget stress; NZ$1 = 74.4 US¢, TWI = 80.1

Short headline:  90 seconds at 9am: NZ ironsands steel threatened Tweet Here's my summary of the key issues from overnight that affect New Zealand, with news of doubts about the viability of the Glenbrook steel mill. But first, the US ended the month of March with a Federal budget deficit of $52.9 bln, on track to be -2.7% of GDP and lower …

Simon Park says NZ needs to recognise the people who can act as a catalyst to drive New Zealand’s engagement with Asia

Short headline:  Finding the 'boundary people' Tweet By Simon Park* South Korea is New Zealand’s fifth largest bilateral trading partner. Currently, there are more than 30,000 Koreans living in New Zealand, most of them in Auckland. Although the immigration history is relatively short compared with the United States or Australia, Korean migrants are well settled in New Zealand. For example, …

Lawyer and litigation funder organising group legal action against insurers post Canterbury quakes

Short headline:  Canterbury property owners being rallied to take on insurers Tweet A lawyer and a litigation funder are looking to organise group legal action against insurers in the wake of the 2010/11 Canterbury earthquakes. A partner at Shieff Angland Lawyers, Kalev Crossland, and Bruce Sheppard, a director of litigation funders LPF Group and best known as founder of the …

A review of things you need to know before you go home on Monday; China exports plunge -15%, Fonterra mulls bond offer, electronic card activity strong, commercial property sales strong, NZD falls

Short headline:  What happened Monday Tweet Here are the key things you need to know before you leave work today. (Updated with Resimac rate changes.) TODAY'S MORTGAGE RATE CHANGES Resimac reduced their fixed rates across the board with a strong flattening bias. They reduced their 1 year fixed rate by -4 bps to 5.88%, their 2 year rate by -9 …