F&P Healthcare falls after record $1 bill revenue
New Zealand shares fell, with investors locking in recent gains from Fisher & Paykel Healthcare after the medical humidifier and breathing mask maker reported another record profit.
The S&P/NZX 50 Index declined 74.65 points, or 0.7 percent, to 10,147.71. Within the index, 27 stocks fell, 14 rose, and nine were unchanged. Turnover was $82.7 million.
F&P Healthcare fell 3.5 percent to $16.08 on a volume of 377,000 shares, almost half its 90-day average of 662,000. The manufacturer topped $1 billion in annual revenue for the first time and lifted profit 10 percent to $209 ...MORE»
[The Wrap] What future financial advice firms could look likeFriday, May 24th, 6:14PM
Sorting out what the financial advice industry is going to look like under the new regime is something akin to trying to solve the Rubick cube. MORE» |
Adviser group rebrands and plans to be a FAPFriday, May 24th, 6:05AM
New Zealand’s evolution towards a new financial advice regime that sets industry-wide standards for conduct and competence has led to the creation of an integrated financial solutions provider that improves service delivery, efficiency and client outcomes. MORE» |
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SFO raids office of Dunedin AFA
The Serious Fraud Office, with the assistance of the Financial Markets Authority, has executed search warrants this morning in relation to an investigation concerning the Dunedin-based financial adviser.
They raided the offices of Barry Kloogh who is the chief executive officer of financial advice company Breathe Financial.
The action followed enquiries by the FMA, leading to a referral to the SFO, a joint statement from the agencies said.
The authority would be assessing any matters relating to the Financial Advisers Act and supporting the SFO investigation.
They asked anyone with information they ...MORE»
[GRTV] We have to prove we are not the bad guys: BallantyneThursday, May 23rd, 12:25PM 1 comment
Partners Life managing director Naomi Ballantyne says the various regulatory reviews are putting huge pressure on life insurance companies and distracting them from their core business of paying claims. MORE» |
[GRTV] Good conduct and culture drives out the snake oilThursday, May 23rd, 6:24AM 4 comments
Reserve Bank governor Adrian Orr talks to Philip Macalister about good conduct and culture and what needs to change in the life insurance market. MORE» |
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ANZ cans advice service - what next for NZ?
ANZ is dropping a key advice service in Australia. MORE»
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GoodReturns TV
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[GRTV] We have to prove we are not the bad guys: Ballantyne
Partners Life managing director Naomi Ballantyne says the various regulatory reviews are putting huge pressure on life insurance companies and distracting them from their core business of paying claims. MORE»
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AIA appoints ambassadors for its new product
AIA has appointed an ex-All Black and a health and wellness advocate as ambassadors for its soon-to-be launched Vitality product. MORE»
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TMM Online
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Commerce Commission investigates BNZ
The Commerce Commission has launched an investigation into BNZ over the bank's compliance with the Credit Contracts and Consumer Finance Act. MORE»
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Salt makes two key appointments
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