BusinessDesk - Latest News [Page 1]

NZ dollar falls as ascendant greenback fanned

Monday, 30 May 2016, 5:33 pm | BusinessDesk

May 30 (BusinessDesk) - The New Zealand dollar fell after comments by Federal Reserve chair Janet Yellen added to expectations US interest rates will rise sooner rather than later, encouraging the flow of funds back to the greenback from currencies where ... More >>

Air New Zealand cancels two regional routes

Monday, 30 May 2016, 5:32 pm | BusinessDesk

May 30 (BusinessDesk) - Air New Zealand is to close two regional routes, Whanganui to Auckland and Blenheim to Christchurch, from the end of July. More >>

Stride says 'stapled structure' protects PIE status

Monday, 30 May 2016, 4:27 pm | BusinessDesk

May 30 (BusinessDesk) - Stride Property has proposed splitting its property-owning unit from its real estate investment management in a 'stapled structure' that would allow it to expand the management arm while preserving its favourable tax status. More >>

Major investor Devon slashes stake in Tower Insurance

Monday, 30 May 2016, 3:32 pm | BusinessDesk

May 30 (BusinessDesk) - A major investor in insurance business Tower has slashed its stake from just under 12 percent to just under 8 percent as the insurer's share price slumped and it issued a poor first half update earlier this month. More >>

Tiwai Point smelter's earnings plunge

Monday, 30 May 2016, 3:23 pm | BusinessDesk

May 30 (BusinessDesk) - The Tiwai Point aluminium smelter made an underlying profit after tax of $54 million in the year to Dec. 31, just $2 million less than the previous year's profit, although only $4 million of that was made in the second half of the ... More >>

Farmers pressured by low prices, are least happy with banks

Monday, 30 May 2016, 3:17 pm | BusinessDesk

May 30 (BusinessDesk) - New Zealand's sharemilking farmers, feeling the pain from low milk prices, are the least happy with their banking relationships at the moment, according to the latest quarterly Federated Farmers Banking Survey. More >>

Good NZ directors too wary of joining SME boards

Monday, 30 May 2016, 2:50 pm | BusinessDesk

May 30 (BusinessDesk) - New Zealand's small- and medium-sized businesses are struggling to attract high-quality directors to their boards, leaving a gap for firms just when they need an experienced hand on the tiller, Financial Markets Authority boss Rob ... More >>

Speirs Group calls special meeting to vote on Unlisted move

Monday, 30 May 2016, 1:52 pm | BusinessDesk

May 30 (BusinessDesk) - Speirs Group shareholders are to vote on migrating to the Unlisted platform instead of remaining on the NZX when the NZAX winds down. More >>

Blackstone takes minority stake in Partners Life

Monday, 30 May 2016, 1:21 pm | BusinessDesk

US private equity firm Blackstone takes minority stake in Partners Life with $200 mln investment More >>

RMA reform bill delayed two months

Monday, 30 May 2016, 1:19 pm | BusinessDesk

May 30 (BusinessDesk) - More than 1,000 substantive submissions and a range of knotty problems thrown up during public hearings have prompted a two-month delay in the report back to Parliament from the local government and environment select committee ... More >>

UIL buys shares in wave technology developer

Monday, 30 May 2016, 12:40 pm | BusinessDesk

May 30 (BusinessDesk) - Long-standing Infratil investor UIL, formerly known as Utilico Investments, has become a shareholder in ASX-listed Carnegie Wave Energy. More >>

Sealegs turns to full-year profit

Monday, 30 May 2016, 11:47 am | BusinessDesk

May 30 (BusinessDesk) - Sealegs, the amphibious vehicle maker, turned to an annual profit after adopting a new strategy, lifting its sales and profit margin. More >>

Turners annual earnings beat guidance

Monday, 30 May 2016, 10:49 am | BusinessDesk

May 30 (BusinessDesk) - Turners Group, the financial services firm, beat annual earnings guidance as its finance units performed ahead of forecast and its debt collection business delivered a record year. Chief executive Paul Byrnes said he will hand over ... More >>

VMob widens loss, doubles revenue focusing on US markets

Monday, 30 May 2016, 10:22 am | BusinessDesk

May 30 (BusinessDesk) - VMob, the mobile advertising firm which joined the NZX main board in January, widened its annual loss while investing in building a presence in the US market and in the development of its technology platform. More >>

Hellaby cuts guidance as resources unit hurt by shutdowns

Monday, 30 May 2016, 10:19 am | BusinessDesk

May 30 (BusinessDesk) - Hellaby Holdings cut its full-year guidance, saying earnings would fall because of the impact of refinery shutdowns on its resource services division, whose chief executive will step aside in favour of a new recruit. More >>

Stride lifts annual earnings 16% on expanded portfolio

Monday, 30 May 2016, 10:01 am | BusinessDesk

May 30 (BusinessDesk) - Stride Property said full-year earnings rose 16 percent as an expanding portfolio boosted rental income, and announced plans to spin out its real estate investment management business as a standalone entity. More >>

Guy looks to trim access to Fonterra's raw milk

Monday, 30 May 2016, 9:09 am | BusinessDesk

Guy looks to trim access to Fonterra's raw milk for big processors in DIRA review More >>

Fonterra scotches media report that Spierings is to leave

Monday, 30 May 2016, 9:04 am | BusinessDesk

May 30 (BusinessDesk) - Fonterra Cooperative Group has categorically denied a report in The Australian newspaper that chief executive Theo Spierings is to leave the world's biggest dairy exporter and that Air New Zealand chief Christopher Luxon is being ... More >>

NZ dollar falls after Yellen says rate hike 'appropriate'

Monday, 30 May 2016, 8:59 am | BusinessDesk

May 30 (BusinessDesk) - The New Zealand dollar fell after Federal Reserve chair Janet Yellen said a rate hike is "appropriate" in coming months, driving the greenback up against a basket of currencies. More >>

NZX didn't mean to 'entice' Ralec

Saturday, 28 May 2016, 9:53 pm | BusinessDesk

May 27 (BusinessDesk) - NZX was not trying to entice Clear's vendors into selling it the business with false promises about the agri-portal, Wellington's High Court has heard. More >>

 

 

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