BusinessDesk - Latest News [Page 1]

MARKET CLOSE: NZ shares fall

Tuesday, 21 May 2019, 8:47 pm | BusinessDesk

May 21 (BusinessDesk) - New Zealand shares fell, led lower by Chorus, after investors were spooked by potentially stricter regulation of its ultrafast broadband network than they'd anticipated. More >>

NZ dollar falls after RBA governor flags potential rate cut

Tuesday, 21 May 2019, 8:46 pm | BusinessDesk

May 21 (BusinessDesk) - The New Zealand dollar fell against the greenback, dragged down by its trans-Tasman counterpart after Reserve Bank of Australia governor Philip Lowe talked about considering a rate cut in two weeks’ time. More >>

ASB reviews ownership of Aegis

Tuesday, 21 May 2019, 7:01 pm | BusinessDesk

May 21 (BusinessDesk) - Commonwealth Bank of Australia-owned ASB is considering selling its Aegis investment administration business. More >>

Auckland Airport kicks off next phase of expansion

Tuesday, 21 May 2019, 4:02 pm | BusinessDesk

May 21 (BusinessDesk) - A new taxiway and aircraft parking area will increase Auckland International Airport’s airfield by about 18 percent and free up land for the next phase of its development. More >>

Cashed-up Plexure eyes acquisitions to accelerate growth

Tuesday, 21 May 2019, 1:50 pm | BusinessDesk

May 21 (BusinessDesk) - Plexure Group more than halved its annual loss as the cashed-up mobile advertising firm boosted revenue, and it's now looking at acquisitions to accelerate that growth. More >>

IRD should have doubled claim against Watson's Cullen Group

Tuesday, 21 May 2019, 1:49 pm | BusinessDesk

May 21 (BusinessDesk) - Inland Revenue Commissioner Naomi Ferguson should have asked the courts for twice as much as it was awarded earlier this month against Eric Watson’s Cullen Group, according to a University of Auckland law professor. More >>

Tower turns to 1H profit, lifts FY guidance

Tuesday, 21 May 2019, 12:56 pm | BusinessDesk

May 21 (BusinessDesk) - Tower turned to a profit in the first half of the year and lifted its full-year guidance as gross written premiums rose and claims costs fell. More >>

Investore FY profit falls 16% on smaller valuation gain

Tuesday, 21 May 2019, 12:49 pm | BusinessDesk

May 21 (BusinessDesk) - Investore Property posted a 16 percent decline in annual profit as it reaped a smaller valuation gain on its large-format retail property portfolio than a year earlier. More >>

Synlait receives cease and desist letter regarding Pokeno

Tuesday, 21 May 2019, 11:56 am | BusinessDesk

May 21 (BusinessDesk) - Synalit Milk has received a cease and desist letter regarding its Pokeno land but believes a practical solution is attainable. More >>

NZ dollar steady ahead of central bank speeches

Tuesday, 21 May 2019, 11:04 am | BusinessDesk

May 21 (BusinessDesk) - The New Zealand dollar was steady ahead of speeches by US Federal Reserve chair Jerome Powell and Australia's central bank governor Philip Lowe. More >>

Auditors need to come out of the shadows

Tuesday, 21 May 2019, 10:18 am | BusinessDesk

May 21 (BusinessDesk) - Financial Markets Authority chief executive Rob Everett wants the audit profession to explain how it adds value to investors, who are largely sceptical of their benefit. More >>

MARKET CLOSE: NZ shares gain on Liberal win

Monday, 20 May 2019, 9:56 pm | BusinessDesk

May 20 (BusinessDesk) - New Zealand shares rose as Australian bank stocks were buoyed by the Liberal-National coalition's electoral win over the weekend, removing the threat of tax changes. More >>

NZ dollar rises against Aussie, Chinese yuan

Monday, 20 May 2019, 9:55 pm | BusinessDesk

May 20 (BusinessDesk) - The New Zealand dollar strengthened against its Australian counterpart and the Chinese yuan but was little changed against other currencies. More >>

Geothermal production drives record Eastland earnings

Monday, 20 May 2019, 7:03 pm | BusinessDesk

May 20 (BusinessDesk) - Eastland Group has returned a record $12.1 million to its community shareholding trust, boosted by earnings from the firm’s new geothermal plant at Kawerau. More >>

RBNZ to announce final decision on bank capital rules by Nov

Monday, 20 May 2019, 6:35 pm | BusinessDesk

May 20 (BusinessDesk) - The Reserve Bank says it will announce its final decision on new bank capital rules by the end of November. More >>

Licensing key to cannabis firm Cannasouth's ambitions

Monday, 20 May 2019, 5:42 pm | BusinessDesk

Licensing key to medicinal cannabis firm Cannasouth's ambitions More >>

27.1% equity if RBNZ proposals are adopted - PwC

Monday, 20 May 2019, 3:30 pm | BusinessDesk

May 20 (BusinessDesk) - New Zealand’s major banks already hold more capital than Australian, Canadian, Austrian, Irish and Singaporean banks, a new study by PricewaterhouseCoopers has found. More >>

UPDATE: Kiwi Property lifts annual profit 15%

Monday, 20 May 2019, 3:14 pm | BusinessDesk

May 20 (BusinessDesk) - Kiwi Property Group says annual net profit rose 15 percent, driven mainly by the rising values of its properties. More >>

UPDATE: Steel & Tube shares drop 8.9% on earnings downgrade

Monday, 20 May 2019, 2:53 pm | BusinessDesk

May 20 (BusinessDesk) - Steel & Tube Holdings shares dropped 8.9 percent after the steel products maker cut its earnings outlook. More >>

Terra Vitae says poor harvest to hit sales, earnings

Monday, 20 May 2019, 2:13 pm | BusinessDesk

May 20 (BusinessDesk) - Grape grower Terra Vitae has warned earnings will be reduced by a poor harvest. More >>



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