BusinessDesk - Latest News [Page 1]

MARKET CLOSE: NZ shares edge up

Friday, 22 February 2019, 9:03 pm | BusinessDesk

Feb. 22 (BusinessDesk) - New Zealand shares rose, with heavy trading in Auckland International Airport and Air New Zealand after the airport operator lifted earnings and said it will cut airline landing fees. More >>

NZ dollar edges lower on worries about Aust coal exports

Friday, 22 February 2019, 8:27 pm | BusinessDesk

Feb. 22 (BusinessDesk) - The New Zealand dollar fell, dragged down by the Australian dollar, amid concerns about what a ban on Australian coal imports through China's northern ports in Dalian might mean. More >>

NZ's current bank capital rules give ANZ a big leg up

Friday, 22 February 2019, 7:21 pm | BusinessDesk

New Zealand’s largest bank, ANZ Bank, currently must hold just over half the amount of capital that Kiwibank must hold to back every $100 of mortgage lending, giving the Australian-owned bank a huge cost advantage over its smaller government-owned ... More >>

Hydrogen opportunity for NZ transport hubs, says Refining NZ

Friday, 22 February 2019, 7:18 pm | BusinessDesk

Feb. 22 (BusinessDesk) - Hydrogen could play a key role reducing emissions from heavy trucks using the country’s major transport hubs, Refining NZ chief executive Mike Fuge says. More >>

Auckland Airport downplays Chinese tourism pessimism

Friday, 22 February 2019, 7:16 pm | BusinessDesk

Feb. 22 (BusinessDesk) - Auckland International Airport chief executive Adrian Littlewood isn't seeing any bigger decline in Chinese tourist numbers than what would be expected with a slowing economy. More >>

Refining NZ looks to bring forward dredging

Friday, 22 February 2019, 4:38 pm | BusinessDesk

Feb. 22 (BusinessDesk) - New Zealand Refining is investigating whether it may be able to bring forward a project to improve the shipping channel into Whangarei harbour by a year. More >>

Cavalier gives shareholders reason for hope; no dividend yet

Friday, 22 February 2019, 3:28 pm | BusinessDesk

Feb. 22 (BusinessDesk) - Cavalier Corp’s investors might allow themselves to believe the company is turning a corner after it reported a first-half result at the upper end of guidance following a similar performance in the previous financial year. More >>

First Gas ordered to pay $3.4m for anti-competitive conduct

Friday, 22 February 2019, 3:27 pm | BusinessDesk

Feb. 22 (BusinessDesk) - First Gas has been ordered to pay $3.4 million by the High Court after admitting it engaged in anti-competitive conduct when acquiring the Bay of Plenty gas distribution assets of GasNet. More >>

Moa plans $3 million rights offer for Savor Group purchase

Friday, 22 February 2019, 2:44 pm | BusinessDesk

Feb. 22 (BusinessDesk) - Unprofitable brewer Moa Group plans to raise up to $3 million through a rights issue to help fund its acquisition of bar and restaurant owner Savor Group if the deal is approved by shareholders at a special meeting next month. More >>

Z Energy appoints Abby Foote as chair

Friday, 22 February 2019, 12:58 pm | BusinessDesk

Feb. 22 (BusinessDesk) - Z Energy has appointed a new chair, Abby Foote, who will take over from Peter Griffiths when he steps down in May after the company’s financial results for the March year have been completed. More >>

Cavalier's first-half net profit

Friday, 22 February 2019, 12:33 pm | BusinessDesk

Feb. 22 (BusinessDesk) - Carpet maker Cavalier reported a $10 million first-half net loss but its normalised profit rose 68 percent to near the top of its earlier guidance. More >>

Summerset annual profit falls as property market slows

Friday, 22 February 2019, 12:32 pm | BusinessDesk

Feb. 22 (BusinessDesk) - Summerset Group said full-year net profit was down 11 percent as the property market slows in some parts of the country, leading to a smaller valuation gain on retirement village portfolio. More >>

Refining NZ earnings slashed by shutdown

Friday, 22 February 2019, 12:31 pm | BusinessDesk

Feb. 22 (BusinessDesk) - New Zealand Refining reported a 62 percent slide in full-year profit after a major shutdown reduced throughput and regional processing margins fell. More >>

NZD weaker against USD, weighed down by weaker Aussie

Friday, 22 February 2019, 11:00 am | BusinessDesk

Feb. 22 (BusinessDesk) - The New Zealand dollar fared better against the Aussie but lost ground against the US dollar after Westpac Bank said it now expects the Reserve Bank of Australia to cut rates twice this year. More >>

CORRECT: Investors fear chilling effect

Thursday, 21 February 2019, 9:57 pm | BusinessDesk

Feb. 21 (BusinessDesk) - Including all businesses, commercial land and buildings, and farms in the proposed extension of the capital gains tax regime is shaping up as the political sharp end of the battle that will occur over the next nine weeks ... More >>

MARKET CLOSE: NZ shares gain; a2 hits new record

Thursday, 21 February 2019, 9:40 pm | BusinessDesk

MARKET CLOSE: NZ shares gain; a2 hits new record, F&P climbs on patent deal More >>

NZ dollar eases against Aussie on strong jobs data

Thursday, 21 February 2019, 9:39 pm | BusinessDesk

Feb. 21 (BusinessDesk) - The New Zealand dollar fell against its Australian counterpart after strong employment data across the Tasman but then recouped much of the decline after Westpac predicted the Reserve Bank of Australia will cut rates twice this year. More >>

KiwiSaver funds face unrealised capital gains tax

Thursday, 21 February 2019, 9:37 pm | BusinessDesk

Feb. 21 (BusinessDesk) - Managed funds, including KiwiSaver schemes, will pay unrealised capital gains tax on changes in the value of the New Zealand and Australian shares if the recommendations of the Tax Working Group applying to portfolio investment ... More >>

Planning changes need to speed renewables development

Thursday, 21 February 2019, 9:35 pm | BusinessDesk

Feb. 21 (BusinessDesk) - Planning rules will need amending if the country is to increase its use of renewable energy at least cost to the environment and consumers, MPs heard today. More >>

A guide to the Tax Working Group's 'other' recommendations

Thursday, 21 February 2019, 9:34 pm | BusinessDesk

Feb. 21 (BusinessDesk) - The New Zealand Superannuation Fund shouldn't have to pay income tax, rubbish and traffic congestion taxes should be pursued, and the "unusually loose" rules governing privately controlled foundations and trusts need new ... More >>



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