BusinessDesk - Latest News [Page 1]

Mercer narrows first-half loss, predicts stronger 2H

Monday, 27 February 2017, 4:39 pm | BusinessDesk

Feb. 27 (BusinessDesk) - Mercer Group, the stainless steel fabricator, posted a $2.6 million loss in the first half, but said it's anticipating a return to positive pre-tax earnings for the second half despite the "disappointing" start. More >>

ASX-listed Southern Cross Media keen on NZME's radio empire

Monday, 27 February 2017, 4:39 pm | BusinessDesk

Feb. 27 (BusinessDesk) - ASX-listed Southern Cross Media Group has confirmed it's keen on NZME's New Zealand radio empire, The Radio Network, and has let the Kiwi company know so. More >>

Record inflow of migrants continues unabated in January

Monday, 27 February 2017, 3:08 pm | BusinessDesk

Feb. 27 (BusinessDesk) - New Zealand continued to be a magnet for migrants and tourists in January, breaking 2016's records as the nation welcomed more people from the UK, South Africa and China, and the number of short-term visitors jumped. More >>

Vital Healthcare expands footprint with new purchases

Monday, 27 February 2017, 3:05 pm | BusinessDesk

Feb. 27 (BusinessDesk) - Vital Healthcare Property Trust has continued its acquisition spree since last year's capital raising, buying hospitals in Perth and Auckland. More >>

Dairy herd sales will bolster annual earnings

Monday, 27 February 2017, 2:21 pm | BusinessDesk

Feb. 27 (BusinessDesk) - Allied Farmers expects a recovery in dairy herd sales will bolster the rural services firm's annual earnings while announcing a smaller decline in first-half profit than flagged earlier this month. More >>

Queenstown Airport loses second bid in Court of Appeal

Monday, 27 February 2017, 2:18 pm | BusinessDesk

Feb. 27 (BusinessDesk) - Queenstown Airport has lost a second legal dispute with the Inland Revenue Department over its runway end safety area (RESA), with the Court of Appeal dismissing its claim for depreciation tax deductions. More >>

NZ signs agreements with Iran on meat exports

Monday, 27 February 2017, 2:16 pm | BusinessDesk

Feb. 27 (BusinessDesk) - New Zealand has inked an agreement with Iran paving the way for the resumption of meat exports to the second-largest economy in the Middle East and North Africa region. More >>

Airwork 1H profit up 9.5% as Rifa takeover offer passes 75%

Monday, 27 February 2017, 1:45 pm | BusinessDesk

Feb. 27 (BusinessDesk) - Airwork Holdings, the Auckland-based aircraft services business, lifted profit 9.5 percent in the first half as it awaits the outcome of a partial takeover offer from Chinese group Zhejiang Rifa Holding Group. More >>

Progress at last on RMA reform; passage in March predicted

Monday, 27 February 2017, 1:33 pm | BusinessDesk

Feb. 27 (BusinessDesk) - The government's long-stalled second tranche of reforms to the Resource Management Act is finally on the move again, with the select committee deliberating on the largest bill currently before Parliament due to report back tomorrow. More >>

Delegat lifts 1H profit 17%

Monday, 27 February 2017, 1:14 pm | BusinessDesk

Feb. 27 (BusinessDesk) - Delegat Group, New Zealand’s largest listed winemaker, lifted operating profit 17 percent in the first half and is predicting annual profit to be in line with last year. More >>

Metlifecare 1H profit jumps 31%

Monday, 27 February 2017, 12:27 pm | BusinessDesk

Feb. 27 (BusinessDesk) - Metlifecare's first-half profit jumped by almost a third as the country's housing boom bolstered the value of the retirement village operator's property portfolio and fattened its margins for unit sales. More >>

Spark announces Netflix partnership

Monday, 27 February 2017, 12:22 pm | BusinessDesk

Feb. 27 (BusinessDesk) - Spark New Zealand has announced what it says is an exclusive deal with Netflix to offer bundled packages, just days after the Commerce Commission rejected Sky Network Television's proposed merger with Vodafone New Zealand on the ... More >>

NZ dollar little changed, remains in tight range

Monday, 27 February 2017, 12:18 pm | BusinessDesk

Feb. 27 (BusinessDesk) - The New Zealand dollar started the week little changed, remaining in the range of just over 1 US cent that has kept it contained for more than two weeks. US President Donald Trump’s address before Congress on Tuesday ... More >>

World Week Ahead: Trump to address Congress

Monday, 27 February 2017, 11:28 am | BusinessDesk

Feb. 27 (BusinessDesk) - Investors will eye two key speeches this week, starting with US President Donald Trump’s address before Congress on Tuesday and a talk by Federal Reserve Chair Janet Yellen on Friday. More >>

UPDATE: CBL shares drop 11% after earnings fall short

Friday, 24 February 2017, 9:47 pm | BusinessDesk

Feb. 24 (BusinessDesk) - CBL Corp shares tumbled 11 percent after the credit surety and financial risk insurance company posted full-year earnings that missed some market expectations and included one-time costs that weren't projected in its prospectus. More >>

MARKET CLOSE: NZ shares fall

Friday, 24 February 2017, 9:46 pm | BusinessDesk

Feb. 24 (BusinessDesk) - New Zealand shares fell, with Warehouse Group and Mercury New Zealand ending down, while Air New Zealand rose. More >>

NZ dollar gains 0.5% against greenback

Friday, 24 February 2017, 9:46 pm | BusinessDesk

Feb. 24 (BusinessDesk) - The New Zealand dollar is heading into the end of the week up 0.5 percent against the US dollar, as the greenback struggled to gain any traction on ongoing jitters about the US, but stuck to a tight range on the day. More >>

More booze on New Zealand shelves in 2016

Friday, 24 February 2017, 4:08 pm | BusinessDesk

Feb. 24 (BusinessDesk) - Higher retail spending and improving consumer confidence looks to be spilling over into New Zealand's liquor market. More >>

Murray Goulburn's milk collection sinks 21% in first half

Friday, 24 February 2017, 4:06 pm | BusinessDesk

Feb. 24 (BusinessDesk) - Murray Goulburn Cooperatives' domestic collection slumped by more than a fifth through the latter half of last year, outpacing the decline Kiwi rival Fonterra Cooperative Group faced, as record rainfall and a tougher fight ... More >>

CBL annual profit falls 14% as expansion costs weigh

Friday, 24 February 2017, 3:37 pm | BusinessDesk

Feb. 24 (BusinessDesk) - CBL Corp, the NZX-listed company that sells credit surety and financial risk insurance, posted a 14 percent drop in annual profit, missing its prospectus forecast, due to costs associated with its expansion. More >>



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