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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 102]
NZ retail sales volumes rise 1.7% in December quarter
Monday, 25 February 2019, 2:14 pm | BusinessDesk
Feb. 25 (BusinessDesk) - New Zealand retail sales volumes lifted more than expected in the December quarter, boosted by spending on pharmaceuticals, duty-free goods, and food services More >>
Metlifecare says net profit down 57%
Monday, 25 February 2019, 1:04 pm | BusinessDesk
Feb. 25 (BusinessDesk) - Retirement village owner and operator Metlifecare reported a 57 percent slide in net profit as it booked a lower gain in the value of its investment property but said underlying earnings continue to be supported by strong demand. More >>
Chorus first-half profit falls as depreciation
Monday, 25 February 2019, 1:01 pm | BusinessDesk
Feb. 25 (BusinessDesk) - Chorus reported a 36 percent decline in first-half profit as it faced rising depreciation costs from the roll-out of its ultrafast broadband network and a heftier interest bill from new debt issued last year. More >>
Quayside's 1H net profit slides 62.4% on losses on equities
Monday, 25 February 2019, 12:59 pm | BusinessDesk
Feb. 25 (BusinessDesk) - Quayside Holdings, which owns 54.2 percent of Port of Tauranga, reported a 62.4 percent drop in first-half net profit, reflecting losses on its equity portfolio. More >>
Retail sales and ANZ business confidence data
Monday, 25 February 2019, 11:13 am | BusinessDesk
Feb. 25 (BusinessDesk) - December quarter retail sales data today should provide more indications that the economy continues to hum along, albeit at a slower pace than previously. More >>
NZD remains above 68 US cents
Monday, 25 February 2019, 11:02 am | BusinessDesk
Feb. 25 (BusinessDesk) - The New Zealand dollar remained above 68 US cents as investors were hopeful the US and China will manage to hammer out a new trade deal. More >>
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 >>
