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BusinessDesk
Independent, Trustworthy New Zealand Business News
The Wellington-based BusinessDesk team provides a daily news feed for a serious business audience.
BusinessDesk - Latest News [Page 100]
Trade Me won't pay interim dividend as Apax takeover looms
Wednesday, 27 February 2019, 1:27 pm | BusinessDesk
Feb. 27 (BusinessDesk) - Trade Me won't pay an interim dividend as Apax Partners' $2.56 billion takeover means the online auction site is likely to leave the NZX. More >>
Scales says FY earnings in line with guidance
Wednesday, 27 February 2019, 1:26 pm | BusinessDesk
Feb. 27 (BusinessDesk) - Scales Corp said its full-year earnings were in line with guidance as its Mr Apple unit reached record export volumes. More >>
Wrightson profit plunges 99% with continuing business down
Wednesday, 27 February 2019, 1:25 pm | BusinessDesk
Feb. 27 (BusinessDesk) - PGG Wrightson’s first-half profit plunged 99 percent as it booked an $8.7 million loss on the seeds business it is in the process of selling and operating profit from the businesses it is keeping sank 24 percent. More >>
Genesis 1H earnings slip
Wednesday, 27 February 2019, 12:02 pm | BusinessDesk
Feb. 27 (BusinessDesk) - Genesis Energy reported a 2 percent decline in first-half operating earnings as reduced earnings from its generation and Kupe interests offset gains in pricing and volumes in its retail business. More >>
NZD falls against British pound on Brexit hopes
Wednesday, 27 February 2019, 11:22 am | BusinessDesk
Feb. 27 (BusinessDesk) - The New Zealand dollar fell against the British pound on increased hopes a no-deal Brexit might be avoided. More >>
UPDATE: Tamarind cleared for Tui drilling programme
Tuesday, 26 February 2019, 9:34 pm | BusinessDesk
Feb. 26 (BusinessDesk) - Tamarind Resources has been cleared to undertake a round of development drilling at the Tui oil field off the Taranaki coast. More >>
MARKET CLOSE: NZ shares fall as Tourism Holdings drops
Tuesday, 26 February 2019, 9:33 pm | BusinessDesk
Feb. 26 (BusinessDesk) - New Zealand shares fell, with several disappointments in the earnings season, as rental RV operator Tourism Holdings posted weaker than expected earnings, Vector warned on dividend growth and Gentrack downgraded its outlook. More >>
NZ dollar stalls awaiting new impetus
Tuesday, 26 February 2019, 8:15 pm | BusinessDesk
Feb. 26 (BusinessDesk) - The New Zealand dollar is little changed as traders await further news on a number of fronts to provide reasons to move the currency. More >>
Christchurch City Holdings pays council $92M
Tuesday, 26 February 2019, 8:14 pm | BusinessDesk
Feb. 26 (BusinessDesk) - Christchurch City Holdings is paying its council shareholder dividends worth more than twice its earnings in the six months ended December. More >>
Gentrack says staff expansion to cut 1H earnings
Tuesday, 26 February 2019, 8:13 pm | BusinessDesk
Feb. 26 (BusinessDesk) - Utilities billing specialist Gentrack says first-half operating earnings will be about 20 percent lower than a year earlier due to extra spending on staff. More >>
Govt chips in $20M to fix leaky Botany Downs school
Tuesday, 26 February 2019, 7:24 pm | BusinessDesk
Feb. 26 (BusinessDesk) - A $20 million government injection to fix leaky buildings at Botany Downs Secondary School will plug the hole left after the unwanted remnants of Hawkins Construction collapsed. More >>
Precinct mitigates capital raising unfairness
Tuesday, 26 February 2019, 7:23 pm | BusinessDesk
Feb. 26 (BusinessDesk) - The New Zealand Shareholders’ Association says Precinct Properties came up with an “innovative” solution to overcome the unfairness to retail investors of its up to $160 million capital raising. More >>
Mercer Group returns to profit
Tuesday, 26 February 2019, 7:22 pm | BusinessDesk
Feb. 26 (BusinessDesk) - Mercer Group has returned to profitability with a skinny $227,000 net result with revenue rising 10 percent to $18 million. More >>
Air NZ looks to jump-start domestic passenger growth
Tuesday, 26 February 2019, 7:21 pm | BusinessDesk
Feb. 26 (BusinessDesk) - Air New Zealand said it is cutting its lowest domestic fares by up to 50 percent from today as it looks to jump-start its domestic passenger growth. More >>
Tamarind cleared to undertake Tui development programme
Tuesday, 26 February 2019, 7:19 pm | BusinessDesk
Feb. 26 (BusinessDesk) - Tamarind Resources has been cleared to undertake a round of development drilling at the Tui oil field off the Taranaki coast. More >>
Mercury says timing of renewable development moot
Tuesday, 26 February 2019, 5:54 pm | BusinessDesk
Feb. 26 (BusinessDesk) - New generation development will get underway in New Zealand, but whether it is built within three years or five years is “relatively moot,” Mercury NZ chief executive Fraser Whineray says. More >>
Gull acquisition beating expectations for Caltex Australia
Tuesday, 26 February 2019, 5:05 pm | BusinessDesk
Feb. 26 (BusinessDesk) - Discount fuel retailer Gull New Zealand beat expectations for its new owner, Caltex Australia, as it contributed to a more than doubling in annual earnings for the ASX-listed group's international units. More >>
Vista shares jump 8.5% as it promises a 6th year of growth
Tuesday, 26 February 2019, 4:45 pm | BusinessDesk
Feb. 26 (BusinessDesk) - Vista Group is expecting to chalk up a sixth successive year of 20 percent-plus revenue growth in calendar 2019, excluding its operations in China. More >>
RBNZ deputy governor suggests NZ banks aren't sound enough
Tuesday, 26 February 2019, 3:40 pm | BusinessDesk
Feb. 26 (BusinessDesk) - Deputy Reserve Bank governor Geoff Bascand appears to be going all out to demonstrate that New Zealand’s banks are not financially sound enough in order to justify the central bank’s proposals to double how much capital ... More >>
Jenny Shipley must pay $6 million to Mainzeal creditors
Tuesday, 26 February 2019, 3:22 pm | BusinessDesk
Feb. 26 (BusinessDesk) - Former Prime Minister Jenny Shipley has been ordered to pay $6 million to creditors of failed construction company Mainzeal, as part of a $36 million award by the High Court against the company’s directors. More >>
