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FINWIRES

Ifo: Business Sentiment in German Residential Construction Weakens in March Amid Interest Rate Concerns

-- The business morale of German residential construction companies deteriorated in March, as renewed fears of interest rate hikes dampened the outlook for residential construction.

The ifo Institute reported on Friday that the business climate index fell to -19.5 points from -17.7 points in February, amid "more pessimistic" expectations outweighing a "somewhat better" current situation perspective.

Conversely, the order situation is "slowly improving" even amid elevated uncertainty, ifo noted. As building permits increase, the share of companies citing order shortfalls dropped to 43.4%, a low not seen since July 2023. Concurrently, cancellations have trended downward, settling at 10.8%.

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Air New Zealand CFO to Resign

Air New Zealand (ASX:AIZ, NZE:AIR) said that Chief Financial Officer Richard Thomson has resigned, effective Aug. 28, according to a Wednesday filing with the New Zealand bourse.The airline has started the process of searching for a new CFO, the filing added.

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