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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 183]
Not enough demand to move Ports of Auckland to Northport
Friday, 24 August 2018, 5:04 pm | BusinessDesk
Not enough demand to move Ports of Auckland to Northport: Port of Tauranga CEO Cairns More >>
RESEND: Sky TV turns to a $240.7M annual loss
Friday, 24 August 2018, 4:07 pm | BusinessDesk
Aug. 24 (BusinessDesk) - Sky Network Television, which has been grappling with a loss of subscribers to online rivals, wrote down its value by $360 million at the end of its financial year, resulting in a $240.7 million annual loss. More >>
Kiwibank profit bounces back after ring-fencing IT project
Friday, 24 August 2018, 3:31 pm | BusinessDesk
Aug. 24 (BusinessDesk) - Kiwi Group Holdings, the parent of state-owned Kiwibank, more than doubled annual profit as it bounced back from a problematic IT project that was beset by write-downs and triggered a spat between the lender's shareholders. More >>
Sky TV turns to a $240.7M annual loss after $360M writedown
Friday, 24 August 2018, 3:30 pm | BusinessDesk
Aug. 24 (BusinessDesk) - Sky Network Television, which has been grappling with a loss of subscribers to online rivals, wrote down its value by $360 million at the end of its financial year, resulting in a $240.7 million annual loss. More >>
Vector looks to meters, solar for earnings growth
Friday, 24 August 2018, 3:23 pm | BusinessDesk
Aug. 24 (BusinessDesk) - Vector is aiming for a slight lift in operating earnings this year, buoyed by the accelerating smart meter roll-out in Australia and stronger than expected on-going meter work locally. More >>
NZ annual trade deficit reached nine-year high in July
Friday, 24 August 2018, 2:34 pm | BusinessDesk
Aug. 24 (BusinessDesk) - New Zealand's annual trade deficit for July was the widest in nine years as petroleum imports soared, though it was slightly narrower than economists had expected as dairy exports continued to push higher. More >>
Metro Glass shares drop 4.8% on outlook downgrade
Friday, 24 August 2018, 1:41 pm | BusinessDesk
Metro Glass shares drop 4.8% on outlook downgrade following weak Australian results By Sophie Boot More >>
IkeGPS to raise $6.25 mln to invest in new project
Friday, 24 August 2018, 1:18 pm | BusinessDesk
Aug. 24 (BusinessDesk) - IkeGPS is in a trading halt as it sells up to $5 million of shares at a premium, with a further raise to come, in an effort to accelerate growth for its new project and smooth lumpy sales. More >>
Tegel set to de-list as Bounty crosses 90% threshold
Friday, 24 August 2018, 1:15 pm | BusinessDesk
Aug. 24 (BusinessDesk) - Tegel Group Holdings is set to de-list from the NZX after Bounty Fresh Foods crossed the 90 percent threshold in its $437.8 million takeover bid ensuring it can force hold-out shareholders to sell. More >>
UPDATE: Port of Tauranga lifts annual profit 13%
Friday, 24 August 2018, 1:09 pm | BusinessDesk
Aug. 24 (BusinessDesk) - Port of Tauranga, New Zealand's biggest port company, posted a 13 percent rise in annual profit, driven by record cargo volumes, and plans to further expand capacity. More >>
Sky TV turns to a $240.7M annual loss after $360M writedown
Friday, 24 August 2018, 1:08 pm | BusinessDesk
Aug. 24 (BusinessDesk) - Sky Network Television, which has been grappling with a loss of subscribers to online rivals, wrote down its value by $360 million at the end of its financial year, resulting in a $240.7 million annual loss. More >>
TVNZ reports first year of stable revenues since 2012
Friday, 24 August 2018, 12:56 pm | BusinessDesk
Aug. 24 (BusinessDesk) - State-owned broadcaster Television New Zealand is counting its first year of stable revenues since 2012 as a win as it reports a 58.6 percent increase in operating earnings for the year to June 30. More >>
Delegat lifts profit 15% in 2018
Friday, 24 August 2018, 12:44 pm | BusinessDesk
Aug. 24 (BusinessDesk) - Delegat Group, New Zealand’s largest listed winemaker, lifted profit 15 percent in 2018, boosted by a revaluation of its biological assets, and confirmed its growth outlook for the next three years. More >>
ACC, NZ Super Fund claim over Kiwibank sale has no merit
Friday, 24 August 2018, 12:37 pm | BusinessDesk
Aug. 24 (BusinessDesk) - New Zealand Post says a warranty claim by Accident Compensation Corp and the New Zealand Superannuation Fund over their investment in Kiwibank is without merit, but the state-owned entities are in talks to resolve the dispute More >>
Port of Tauranga FY profit rises 13% on record cargo volumes
Friday, 24 August 2018, 12:02 pm | BusinessDesk
Aug. 24 (BusinessDesk) - Port of Tauranga, New Zealand's biggest port company, posted a 13 percent rise in annual profit, driven by record cargo volumes, and said it's planning to expand capacity. More >>
Vector earnings flat; technology growth disappointing
Friday, 24 August 2018, 12:00 pm | BusinessDesk
Aug. 24 (BusinessDesk) - Vector reported flat operating earnings for the year ended June, with growth in its smart meter business and a better performance in gas unable to offset higher costs in its electricity distribution arm. More >>
NZ dollar falls as US, China trade talks drag on
Friday, 24 August 2018, 11:25 am | BusinessDesk
Aug. 24 (BusinessDesk) - The New Zealand dollar fell as US and Chinese officials tried to find common ground in a protracted trade dispute that threatens to slow the global economy. More >>
MARKET CLOSE: NZ shares drop as Air NZ, Ebos fall
Thursday, 23 August 2018, 8:52 pm | BusinessDesk
MARKET CLOSE: NZ shares drop as Air NZ, Ebos fall; F&P Healthcare, Auckland Airport gain More >>
Colonial Motor Co lifts annual profit 13%
Thursday, 23 August 2018, 8:44 pm | BusinessDesk
Aug. 23 (BusinessDesk) - Colonial Motor Co lifted annual profit 13 percent as a buoyant car market drove the motor vehicle distributor closer to cracking a billion dollars of revenue. More >>
NZ dollar gains against Aussie on Canberra political turmoil
Thursday, 23 August 2018, 8:33 pm | BusinessDesk
Aug. 23 (BusinessDesk) - The New Zealand dollar gained against its trans-Tasman counterpart as Australian Prime Minister Malcolm Turnbull continued to fight for his job in a fresh leadership challenge. More >>
