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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 19]
Orr urges business, govt to take advantage of cheap finance
Wednesday, 28 August 2019, 3:14 pm | BusinessDesk
Aug. 28 (BusinessDesk) - Reserve Bank governor Adrian Orr wants businesses and government to take advantage of low interest rates and invest in long-term projects, but says savers may need to re-think relying on low-risk term deposits. More >>
S&P raises Port of Tauranga's credit rating to 'A-'
Wednesday, 28 August 2019, 2:58 pm | BusinessDesk
Aug. 28 (BusinessDesk) - Port of Tauranga’s credit rating upgrade is “fantastic news” and makes it one of the few ports around the world with such a high credit rating, says chief executive Mark Cairns. More >>
UPDATE: Genesis underlying profit up on improved retail
Wednesday, 28 August 2019, 1:19 pm | BusinessDesk
(Adds share price reaction, divisional earnings and 2020 earnings forecast from 6th paragraph) More >>
Scales lifts 1H sales across all divisions
Wednesday, 28 August 2019, 12:52 pm | BusinessDesk
Aug. 28 (BusinessDesk) - Agribusiness Scales Corporation reported revenue growth in all divisions in the first half and reiterated full-year guidance for increased underlying earnings. More >>
UPDATE: Port of Tauranga lifts annual profit 6.7%
Wednesday, 28 August 2019, 12:34 pm | BusinessDesk
Aug. 28 (BusinessDesk) - Port of Tauranga lifted annual net profit 6.7 percent on record cargo volumes with sales rising 10.4 percent. More >>
Allied Farmers seeking incremental growth
Wednesday, 28 August 2019, 12:11 pm | BusinessDesk
Aug. 28 (BusinessDesk) - Rural services provider Allied Farmers has reported a third year of flat profitability after strengthening its balance sheet with new capital in the year to June 30 and it's signalling it may consider a small public debt issue ... More >>
Genesis underlying profit up 16% on improved retail earnings
Wednesday, 28 August 2019, 12:06 pm | BusinessDesk
Aug. 28 (BusinessDesk) - Genesis Energy reported a 16 percent increase in underlying full-year profit, with improved retail earnings offsetting a flat performance from its generation arm and weaker oil production from its Kupe interests. More >>
Port of Tauranga lifts annual profit 6.7%
Wednesday, 28 August 2019, 12:01 pm | BusinessDesk
Aug. 28 (BusinessDesk) - Port of Tauranga lifted annual net profit 6.7 percent on record cargo volumes with sales rising 10.4 percent. More >>
NZ dollar range-bound as trade optimism fades
Wednesday, 28 August 2019, 11:07 am | BusinessDesk
Aug. 28 (BusinessDesk) - The New Zealand dollar stuck to a right range as optimism for a US-China trade deal faded and the focus returned to a possible US recession. More >>
MARKET CLOSE: NZ shares recover
Tuesday, 27 August 2019, 9:03 pm | BusinessDesk
Aug. 27 (BusinessDesk) - New Zealand shares recovered some of yesterday's decline as the demand for reliable income boosted yield stocks such as Meridian Energy and Spark New Zealand. Tourism Holdings gained after confirming annual profit beat guidance. More >>
NZ dollar weakens despite positive trade war noises
Tuesday, 27 August 2019, 8:16 pm | BusinessDesk
Aug. 27 (BusinessDesk) - The New Zealand dollar fell despite signs China wants to renew trade talks with the US and despite Reserve Bank of Australia deputy governor Guy Debelle trying to talk the Australian dollar down. More >>
TruScreen says $166m opportunity awaits
Tuesday, 27 August 2019, 8:10 pm | BusinessDesk
Aug. 27 (BusinessDesk) - TruScreen says it has a $166 million sales opportunity and China will continue to drive sales at the cervical cancer test maker. More >>
No revisiting of exploration ban in govt resource strategy
Tuesday, 27 August 2019, 8:10 pm | BusinessDesk
Aug. 27 (BusinessDesk) - The government’s draft 10-year strategy for minerals and petroleum emphasises the importance of gas for energy security and as a transition fuel to a low-emissions economy, but says the ban on exploration won’t be revisited. More >>
Price, volume increases needed to meet bank covenants
Tuesday, 27 August 2019, 4:20 pm | BusinessDesk
Aug. 27 (BusinessDesk) - Cavalier Corp says the business is at risk of breaching its banking covenants if it can't sell more carpet this year or achieve higher prices. More >>
Ambitious Australian trustee firm makes kiwi push
Tuesday, 27 August 2019, 3:27 pm | BusinessDesk
Aug. 27 (BusinessDesk) - Aussie upstart Sargon, best known in this market for its row with Perpetual Guardian owner Completus, is attempting another foray into the local trustee market. More >>
Ebos opens Shanghai office after daigou crackdown
Tuesday, 27 August 2019, 2:06 pm | BusinessDesk
Aug. 27 (BusinessDesk) - A crackdown on the daigou trade by Chinese authorities has prompted Ebos to establish a presence on the ground in China by opening an office in Shanghai. More >>
NZOG $2.9m loss despite improved Kupe, Maari performance
Tuesday, 27 August 2019, 1:58 pm | BusinessDesk
Aug. 27 (BusinessDesk) - New Zealand Oil & Gas has reported a $2.9 million full-year loss with improved production from its Kupe and Maari interests insufficient to offset exploration losses in the first half. More >>
Tourism Holdings focused on US turnaround
Tuesday, 27 August 2019, 1:05 pm | BusinessDesk
Aug. 27 (BusinessDesk) - Tourism Holdings expects tough US market conditions to spill over into this year but said things remain positive in Australia and New Zealand despite "uncertain" economic conditions. More >>
NZME keeps focus on repaying debt over dividend
Tuesday, 27 August 2019, 12:57 pm | BusinessDesk
Aug. 27 (BusinessDesk) - NZME's net profit sank 73 percent as the media group's advertising revenue fell faster than it could strip out costs, and the board is still focused on reducing debt over paying dividends. More >>
NZ dollar firms on improving risk appetite
Tuesday, 27 August 2019, 11:02 am | BusinessDesk
Aug. 27 (BusinessDesk) - The New Zealand dollar found some support after risk appetite got a lift when US President Donald Trump talked up the prospects of a trade deal with China. More >>
