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BusinessDesk - Latest News [Page 1316]

Downer returns to profit, more than doubles NZ earnings

Monday, 13 August 2012, 11:11 am | BusinessDesk

Aug 13 (BusinessDesk) - Downer EDI, the infrastructure, mining and rail building firm, more than doubled earnings in New Zealand this year and returned to profit as a group after write-downs on its New South Wales train project erased earnings ... More >>

NZ Dollar Outlook: Kiwi may fall on growth concerns, ECB

Monday, 13 August 2012, 10:50 am | BusinessDesk

Aug. 13 (BusinessDesk) - The New Zealand dollar may fall this week amid continued concern that global growth remains stalled as investors await news of European Central Bank action. More >>

Freightways beats estimates with 24% gain in FY profit

Monday, 13 August 2012, 10:45 am | BusinessDesk

Aug. 13 (BusinessDesk) - Freightways, the courier and data management group, posted a 24 percent gain in full-year profit, beating estimates, and forecast further growth in 2013 other than for its document destruction business. More >>

Fears of foreign ownership ‘overstated’, English says

Monday, 13 August 2012, 10:03 am | BusinessDesk

Aug. 13 (BusinessDesk) - Fears of foreign ownership of New Zealand assets are frequently overstated and foreign direct investment is an important source of funding for growth for a nation that doesn’t save enough to meet those needs internally, says Finance ... More >>

Telecom CEO Moutter settles into top job today

Monday, 13 August 2012, 9:06 am | BusinessDesk

Aug 13 (BusinessDesk) - Telecom's new chief executive Simon Moutter officially settles into the top job today, giving him almost two working weeks to get up to speed before the phone company's annual result. More >>

Multiple factors knock Meridian profit

Monday, 13 August 2012, 9:06 am | BusinessDesk

Aug. 13 (BusinessDesk) - Low rainfall, the sale of some of its assets to Genesis Energy and a one-off dispute settlement in the previous year saw Meridian Energy's net profit fall 52 percent to $106.1 million in the year ended June 30. More >>

NZ dollar falls vs. greenback, euro on growth concerns

Monday, 13 August 2012, 8:31 am | BusinessDesk

Aug. 13 (BusinessDesk) - The New Zealand dollar fell against the greenback and the euro as signs of slowing global growth added to concern that Europe's debt crisis is worsening, damping risk appetite. More >>

World Week Ahead: Traction hard to find

Monday, 13 August 2012, 6:35 am | BusinessDesk

Aug. 13 (BusinessDesk) - Global equities continue to edge higher on hopes that central bankers will bail everyone out, though there isn't a lot of conviction in that premise amid continuing signs that growth remains stalled -- at best. More >>

MARKET CLOSE NZ shares rise paced by Telecom, Contact, NZR

Friday, 10 August 2012, 5:31 pm | BusinessDesk

Aug 10 (BusinessDesk) - New Zealand shares rose, paced by Telecom, Contact Energy and NZ Refining in the lead up to an earnings season some analysts say will beat estimates. The NZX 50 Index rose 5.81 points, or 0.16 percent, to 3577.79. Within ... More >>

NZ dollar falls after RBA comment, Chinese data

Friday, 10 August 2012, 5:22 pm | BusinessDesk

Aug. 10 (BusinessDesk) - The New Zealand dollar extended its decline in local trading after the Reserve Bank of Australia warned the strength of its currency is threatening the Australian economy, while Chinese trade figures came in short of expectations. More >>

MediaWorks takes $241.6M charge as Oaktree takes on debt

Friday, 10 August 2012, 4:17 pm | BusinessDesk

Aug 10 (BusinessDesk) - MediaWorks NZ, the broadcaster whose stable includes TV3 and Four, and radio stations including the Rock, MoreFM, has written down the value of goodwill by $241.6 million in a capital structure that includes US private equity ... More >>

Ogilvy adds Consumer Affairs to suite of state clients

Friday, 10 August 2012, 4:07 pm | BusinessDesk

Aug. 10 (BusinessDesk) - Ogilvy New Zealand, the advertising agency whose clients include retailer Briscoe, won a $1.25 million contract with the Ministry of Consumer Affairs to run its campaigns on consumer debt and energy saving. More >>

Insured Group offering only part payment to St. George

Friday, 10 August 2012, 3:55 pm | BusinessDesk

Aug. 10 (BusinessDesk) - Insured Group, the Australian insurer which used Lombard Group for a backdoor listing on the NZX, has pulled its prospectus for ASX listing for the second time this year after announcing it will only make a part payment on ... More >>

NZOG receives $5 million from Pike Rive Coal receivers

Friday, 10 August 2012, 3:37 pm | BusinessDesk

Aug. 10 (BusinessDesk) - New Zealand Oil & Gas will receive a $5 million payment from the receivers of Pike Rive Coal after it was sold to Solid Energy in May. More >>

Rio Tinto eyeing smelter closures unless they pay their way

Friday, 10 August 2012, 2:18 pm | BusinessDesk

Aug. 10 (BusinessDesk) - Rio Tinto's attempt to renegotiate New Zealand's largest electricity contract, for its aluminium smelter at Bluff, comes as the company's chief executive warns of "difficult decisions" ahead if its older smelters ... More >>

ETS loophole to halve cost for NZ's biggest carbon emitters

Friday, 10 August 2012, 12:54 pm | BusinessDesk

Aug. 10 (BusinessDesk) - New Zealand's acceptance of carbon credits banned from the European Union's emissions trading scheme means major industrial greenhouse gas emitters face half the cost of carbon faced by emitters in Europe and other countries implementing ... More >>

Milford Funds fee income jumps after stellar year

Friday, 10 August 2012, 12:41 pm | BusinessDesk

Aug. 10 (BusinessDesk) - Milford Funds, a unit of Milford Asset Management that discloses its financial results, reported a jump in annual fees, driving up profit, as growth in funds under management and improved results lifted performance fees. More >>