Scoop has an Ethical Paywall
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 1037]
MARKET CLOSE: NZ shares gain with Ebos; Trade Me falls
Wednesday, 19 February 2014, 5:57 pm | BusinessDesk
Feb. 19 (BusinessDesk) – New Zealand stock rose, as Ebos Group and Meridian Energy met profit guidance. Trade Me Group sank to an 18-month low during trade, as investors questioned the auction sites growth prospects. More >>
NZ dollar falls after BOJ stokes credit
Wednesday, 19 February 2014, 5:19 pm | BusinessDesk
Feb. 19 (BusinessDesk) - The New Zealand dollar after the Bank of Japan’s moves to fuel credit growth and as weak US data and the threat of emerging markets keep traders nervous about risk-sensitive assets. More >>
CORRECT: Ebos meets guidance as 1H profit more than triples
Wednesday, 19 February 2014, 4:46 pm | BusinessDesk
Feb. 19 (BusinessDesk) – Ebos Group said first-half profit more than tripled, meeting its guidance after the acquisition of Symbion, and said its top executives would be replaced by managers of the Australian drug distributor and distributor. More >>
SkyCity dividend pledge means bigger second-half payment
Wednesday, 19 February 2014, 2:46 pm | BusinessDesk
Feb 19 (BusinessDesk) – SkyCity Entertainment Group’s pledge to maintain dividends at higher levels even as it spends on major developments may see the listed casino company pay out almost all of its second half profit to investors. More >>
Appeal Court cuts both ways on Dotcom warrants, cloned info
Wednesday, 19 February 2014, 12:38 pm | BusinessDesk
Appeal Court rules Dotcom search warrants valid, says cloned info shouldn’t have left NZ More >>
MPI lifts forecasts for dairy, meat, forestry exports
Wednesday, 19 February 2014, 11:53 am | BusinessDesk
Feb. 19 (BusinessDesk) - The Ministry for Primary Industries has raised its forecasts for exports of dairy products, meat and forestry, citing growing demand and limited supplies of milk, lower US and European beef production and high prices for logs. More >>
FMA pings mortgage brokers over late annual reports
Wednesday, 19 February 2014, 11:53 am | BusinessDesk
Feb. 19 (BusinessDesk) - The Financial Markets Authority has charged two contributory mortgage brokers for failing to file their annual reports on time. More >>
Meridian won’t invest more in Australia if RET scheme goes
Wednesday, 19 February 2014, 11:41 am | BusinessDesk
Feb. 19 (BusinessDesk) – Meridian Energy won’t invest further in Australian renewable energy projects if the Federal government’s Renewable Energy Target subsidy scheme is scrapped, says chief executive Mark Binns. More >>
APN returns to profit, plans A$132M capital raising
Wednesday, 19 February 2014, 11:25 am | BusinessDesk
Feb. 19 (BusinessDesk) - APN News & Media, the Australian publisher of the New Zealand Herald newspaper, returned to profit in 2013 after streamlining its businesses and plans to raise A$132 million to buy out its partner in trans-Tasman radio assets. More >>
Trade Me shares tumble on slower earnings growth
Wednesday, 19 February 2014, 11:20 am | BusinessDesk
Feb. 19 (BusinessDesk) – Shares in Trade Me Group fell to a 19-month low, making the stock the worst performer on the benchmark NZX 50 Index, after New Zealand’s largest online auction site posted lower-than-expected first half profit, raising ... More >>
Ebos meets guidance as 1H profit more than triples
Wednesday, 19 February 2014, 10:27 am | BusinessDesk
Feb. 19 (BusinessDesk) – Ebos Group said first-half profit more than tripled, meeting its guidance after the acquisition of Symbion, and said its top executives would be replaced by managers of the Australian drug distributor and distributor. More >>
NZOG 1H profit falls 47% as exploration costs almost double
Wednesday, 19 February 2014, 10:11 am | BusinessDesk
Feb. 19 (BusinessDesk) - New Zealand Oil & Gas, which has interests in the Tui and Kupe fields, reported 47 percent decline in first half profits, as revenue growth was offset by a near doubling of exploration and evaluation costs. More >>
APN in trading halt pending capital raising
Wednesday, 19 February 2014, 10:01 am | BusinessDesk
Feb. 19 (BusinessDesk) - APN News & Media, the Australian publisher of the New Zealand Herald newspaper, has halted trading in its shares pending a capital raising. More >>
Trade Me posts slower earnings growth in 1H
Wednesday, 19 February 2014, 9:46 am | BusinessDesk
Feb. 19 (BusinessDesk) – Trade Me Group posted a slower pace of earnings growth in the first half of its financial year as New Zealand’s largest online auction site invested in marketing and more staff to improve its service and position it ... More >>
NZ dollar weakest performer as English talks down currency
Wednesday, 19 February 2014, 9:00 am | BusinessDesk
Feb. 19 (BusinessDesk) – The New Zealand dollar was the weakest performer of major currencies overnight, after comments by Finance Minister Bill English that the kiwi may be 20 percent overvalued added to its downward momentum. More >>
Meridian 1H earnings beat prospectus, down 6% on last year
Wednesday, 19 February 2014, 8:55 am | BusinessDesk
Feb. 19 (BusinessDesk) – Newly NZX-listed Meridian Energy beat its prospectus forecast for earnings in the six months to Dec. 31, thanks to high inflows to hydro lakes giving the company a larger than normal share of the generation market during the ... More >>
Ports of Auckland 1H profit soars 70%
Wednesday, 19 February 2014, 8:28 am | BusinessDesk
Feb. 19 (BusinessDesk) - Ports of Auckland, whose operations were disrupted in 2012 in a protracted industrial dispute, boosted first-half profit 70 percent as import and export cargo volumes climbed and it reaped the benefits of improved productivity. More >>
While you were sleeping: Forest Lab deal lifts
Wednesday, 19 February 2014, 7:45 am | BusinessDesk
Feb 19 (BusinessDesk) – Wall Street moved higher, supported by a US$25 billion takeover of Forest Laboratories by Dublin-based Actavis which reminded investors that there is still value to be found in equities. More >>
Dairy product prices fall 1.2% in GDT auction, volumes drop
Wednesday, 19 February 2014, 7:37 am | BusinessDesk
Feb. 19 (BusinessDesk) - Dairy product prices recorded their biggest drop since early November in the latest GlobalDairyTrade auction, with the volume sold falling to an eight-month low. Milk protein concentrate and butter led the decline. The GDT ... More >>
MARKET CLOSE: NZ stocks mixed, F&P Healthcare up on guidance
Tuesday, 18 February 2014, 5:56 pm | BusinessDesk
Feb. 18 (BusinessDesk) – New Zealand shares were mixed. Fisher & Paykel Healthcare led gainers after raising full-year profit guidance for a second time. Fletcher Building paced the advance after First NZ Capital upgraded its recommendation. More >>
