BusinessDesk - Latest News [Page 1]

NZ dollar gains as Fonterra hikes forecast farmgate payout

Thursday, 25 August 2016, 5:23 pm | BusinessDesk

Aug. 25 (BusinessDesk) - The New Zealand dollar gained after Fonterra Cooperative Group hiked its forecast payout to farmers for the current season as recent dairy auctions delivered bigger-than-expected price increases. More >>

Metlifecare stake not a long-term hold for Infratil

Thursday, 25 August 2016, 3:54 pm | BusinessDesk

Aug. 25 (BusinessDesk) - Infratil chief executive Marko Bogoievski is happy with the 80 percent gain the value of the infrastructure investor's stake in retirement village operator Metlifecare, but doesn't expect the minority interest will be a ... More >>

Crown alleges Ngatata Love set up $3M in secret payments

Thursday, 25 August 2016, 2:37 pm | BusinessDesk

Crown alleges Ngatata Love set up $3M in secret payments to buy house for himself and partner More >>

UPDATE: Methven books $2.7M after cancelling earn-out

Thursday, 25 August 2016, 1:22 pm | BusinessDesk

Aug. 25 (BusinessDesk) - Listed shower and tapware maker Methven booked a $2.7 million gain in its full-year net profit adjustments after cancelling an earnout agreement with the owner of the Chinese manufacturing facility it bought in 2014. More >>

NZ insolvency practitioners face new licensing regime

Thursday, 25 August 2016, 1:09 pm | BusinessDesk

Aug. 25 (BusinessDesk) - New Zealand's insolvency practitioners look likely to face a new licensing regime after a report to Commerce Minister Paul Goldsmith found that gaps in existing rules enable dishonesty and incompetence. More >>

Countdown FY earnings slip 3.7% on record revenue

Thursday, 25 August 2016, 12:36 pm | BusinessDesk

Aug. 25 (BusinessDesk) - The Countdown supermarket chain posted a 3.7 percent drop in annual earnings due to a combination of food price deflation, competitive pressures and increased team-based performance payments as part of a customer service improvement ... More >>

Sheep milk industry gets $12.6M Crown funding

Thursday, 25 August 2016, 12:18 pm | BusinessDesk

Aug. 25 (BusinessDesk) - The fledgling sheep milk industry has been given a $12.6 million boost with government funding for a Primary Growth Partnership project with Spring Sheep Milk Co. More >>

Ebos posts 20% gain in full-year profit as sales top $7 bln

Thursday, 25 August 2016, 12:07 pm | BusinessDesk

Aug. 25 (BusinessDesk) - Ebos Group posted a 20 percent gain in full-year profit and lifted its dividends as revenue topped $7 billion for the first time, saying it expects further earnings growth in the current year. More >>

Methven continues annual revenue and profit growth

Thursday, 25 August 2016, 10:11 am | BusinessDesk

Aug. 25 (BusinessDesk) - Methven, the shower and tapware designer, has reported a 31 percent increase in full-year net profit to $7.7 million with strong sales in New Zealand and Australia, continuing a turnaround in its performance that started ... More >>

SLI Systems curbs FY loss

Thursday, 25 August 2016, 10:10 am | BusinessDesk

Aug. 25 (BusinessDesk) - E-commerce software seller SLI Systems narrowed its annual loss, reflecting cost containment during a restructuring following the loss of three major customers. More >>

Hellaby Holdings annual profit falls 30%

Thursday, 25 August 2016, 10:08 am | BusinessDesk

Aug. 25 (BusinessDesk) - Hellaby Holdings, the diversified investment group, posted a 30 percent fall as restructuring under new chief executive Alan Clarke continues. More >>

Scales lifts first-half profit 3% on record Mr Apple crop

Thursday, 25 August 2016, 10:07 am | BusinessDesk

Aug. 25 (BusinessDesk) - Scales Corp lifted first-half profit 3 percent and raised guidance for annual earnings as its Mr Apple unit delivered a record crop and met its 2020 export volume target four years early. More >>

Former Tenths trustee gives evidence

Thursday, 25 August 2016, 10:04 am | BusinessDesk

Aug. 25 (BusinessDesk) - A former trustee for the Wellington Tenths Trust has told Ngatata Love's fraud trial that he was ok with the idea that "consultants" could be paid a $3 million fee for negotiating a deal with property developers. More >>

NZ dollar gains as traders await Jackson Hole symposium

Thursday, 25 August 2016, 10:01 am | BusinessDesk

Aug. 25 (BusinessDesk) - The New Zealand dollar rose above 73 US cents as traders wait to see what Federal Reserve chair Janet Yellen has to say at this weekend's central banker symposium in Jackson Hole, Wyoming. More >>

While you were sleeping: Wall Street slips

Thursday, 25 August 2016, 7:42 am | BusinessDesk

Aug. 25 (BusinessDesk) - Wall Street moved lower ahead of Friday’s speech by Federal Reserve Chair Janet Yellen who might offer clues on the timing for an interest rate hike by the central bank—which some Fed officials have recently suggested could ... More >>

NZD falls - Yellen may dent kiwi-yield story

Wednesday, 24 August 2016, 5:28 pm | BusinessDesk

The New Zealand dollar fell as traders speculated Federal Reserve chair Janet Yellen may echo recent hawkish statements by other Fed officials, giving impetus to the greenback. More >>

Infratil still aspires to shareholder returns of 20% a year

Wednesday, 24 August 2016, 5:26 pm | BusinessDesk

Infratil still aspires to generating total shareholder returns of 20 percent a year as it broadens the focus of its investment portfolio into sectors it wouldn't have entered 10 years ago. More >>

Seabed ironsands miner TransTasman tries again

Wednesday, 24 August 2016, 2:52 pm | BusinessDesk

Aug. 24 (BusinessDesk) - The first company to attempt to gain a resource consent to mine ironsands from the ocean floor in New Zealand's Exclusive Economic Zone has lodged a new application containing fresh scientific and other evidence it hopes ... More >>

Mobile health startup Vigil changes name

Wednesday, 24 August 2016, 2:31 pm | BusinessDesk

Aug. 24 (BusinessDesk) - Vigil Monitoring, the digital healthcare company founded by Ray Avery and Alan Brannigan, is changing its name to Jupl as it expands into Australia. More >>

Metro Glass sees 'marked improvement' in 2017

Wednesday, 24 August 2016, 12:36 pm | BusinessDesk

Aug. 24 (BusinessDesk) - Metro Performance Glass, which has more than half the country's glass processing market, expects to see a "marked improvement" in the coming year as it reaps the benefit of New Zealand's building boom and looks further afield ... More >>



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