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BusinessDesk - Latest News [Page 1125]

MARKET CLOSE: NZ shares fall; Diligent, ANZ, Cavalier drop

Friday, 16 August 2013, 6:23 pm | BusinessDesk

Aug. 16 (BusinessDesk) – New Zealand shares fell, led by Diligent Board Member Services while Australia & New Zealand Banking Group declined after forecasting a decline in lending margins and carpet maker Cavalier fell after saying earnings ... More >>

Fonterra puts two execs on leave in wake of contamination

Friday, 16 August 2013, 5:40 pm | BusinessDesk

Aug. 14 (BusinessDesk) - Fonterra Cooperative Group says it has put two senior managers on leave, effective immediately, as it continues a probe into how three batches of whey protein got contaminated with bacteria that can cause botulism. More >>

Infratil, NZ Super Fund raise $840M in Z IPO at $3.50/share

Friday, 16 August 2013, 5:27 pm | BusinessDesk

Infratil, NZ Super Fund, raise $840M in Z Energy IPO, selling shares at $3.50 apiece More >>

NZ dollar falls after 6.2 magnitude Wellington quake

Friday, 16 August 2013, 5:21 pm | BusinessDesk

Aug. 16 (BusinessDesk) - The New Zealand dollar fell in the wake of a 6.2 magnitude earthquake shook Wellington and the upper South Island, the biggest quake since last month’s 6.9 magnitude event. More >>

Steel & Tube FY profit helped by lower input prices

Friday, 16 August 2013, 4:38 pm | BusinessDesk

Aug. 16 (BusinessDesk) – Steel & Tube Holdings posted a 19 percent gain in full-year profit, even as sales fell, as the company benefited from low prices for the unfinished steel it uses to make its building products, chief executive Dave ... More >>

NZ dollar falls, NZX suspends trading after 6.2 mag. quake

Friday, 16 August 2013, 3:03 pm | BusinessDesk

Aug. 16 (BusinessDesk) - The New Zealand dollar dropped almost half a US cent and the NZX suspended trading after a 6.2 magnitude earthquake rocked Wellington, almost a month after the capital city was locked down by a 6.9 magnitude quake. More >>

Dominion Finance directors sentenced to home detention

Friday, 16 August 2013, 3:03 pm | BusinessDesk

Aug 16 (BusinessDesk) – Former Dominion Finance and North South Finance directors Rick Bettle, Vance Arkinstall and Paul Forsyth were sentenced in the High Court in Auckland to home detention for making untrue statements in relation to the failed ... More >>

Godoman Fielder cost cutting may not flow through to margins

Friday, 16 August 2013, 1:08 pm | BusinessDesk

Aug. 16 (BusinessDesk) – Goodman Fielder, which makes Meadow Lea margarine and Irvines pies, may not see much of its Project Renaissance cost savings programme flow through to improved margins as supermarket rivalry pushes down prices, according ... More >>

MIDDAY UPDATE: Transpower pays $295 mln dividend to govt

Friday, 16 August 2013, 12:12 pm | BusinessDesk

Aug. 16 (BusinessDesk) – State-owned national electricity grid operator Transpower has paid out $295 million in dividends to the government this financial year, after more than tripling its annual profit. More >>

APN ekes out 1H profit on asset sales

Friday, 16 August 2013, 11:20 am | BusinessDesk

Aug. 16 (BusinessDesk) - APN News & Media, the Australasian publisher of the New Zealand Herald newspaper, returned to profit in the first half of the financial year as it sold assets and clamped down on costs, and is mulling the sale of its ... More >>

ANZ New Zealand cash profit rises to $1.1 bln in first 3Qs

Friday, 16 August 2013, 11:16 am | BusinessDesk

ANZ New Zealand cash profit rises to $1.1 bln in first 9 months as costs trimmed More >>

Transpower pays $295M dividend as profit soars

Friday, 16 August 2013, 10:45 am | BusinessDesk

Aug 16 (BusinessDesk) - Transpower, the state-owned national electricity grid operator, will pay the government almost $295 million in dividends for this year after annual profit more than tripled. More >>

Steel & Tube FY profit rises 19% on falling costs

Friday, 16 August 2013, 9:57 am | BusinessDesk

Aug. 16 (BusinessDesk) – Steel & Tube Holdings, the steel building products firm whose majority shareholder exited its holding last October, posted a 19 percent gain in full-year profit, meeting estimates, as costs fell more than sales. More >>

Bathurst to pay $600,000 for Canterbury Coal assets

Friday, 16 August 2013, 9:27 am | BusinessDesk

Bathurst to pay $600,000 for Canterbury Coal assets, agrees to 3-year supply contract More >>

Michael Hill lifts profit 9.6% as new stores underpin sales

Friday, 16 August 2013, 9:19 am | BusinessDesk

Aug. 16 (BusinessDesk) - Michael Hill International, the jewellery chain that bears its founder’s name, lifted annual profit 9.6 percent as sales growth was underpinned by the retailer opening new stores, offsetting flat revenue on a same-store basis. More >>

NZ dollar gains as US tapering weighed against local economy

Friday, 16 August 2013, 8:53 am | BusinessDesk

Aug 16 (BusinessDesk) – The New Zealand dollar advanced in volatile trading as investors weighed the likelihood of the US reducing monetary stimulus next month, which is positive for the US dollar, against upbeat local data, which is underpinning ... More >>