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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 22]
CORRECT: Cavalier Corp shares fall 16%
Thursday, 22 August 2019, 4:35 pm | BusinessDesk
Aug. 22 (BusinessDesk) - Cavalier Corp shares fell 16 percent after it announced plans to write-down or impair the value of goodwill and various plant and equipment by as much as $9 million as it prepares to shift its strategic direction. More >>
Cavalier Corp shares fall 16% as it announces write-down
Thursday, 22 August 2019, 4:05 pm | BusinessDesk
Aug. 22 (BusinessDesk) - Cavalier Corp shares fell 16 percent after it announced plans to write-down or impair the value of goodwill and various plant and equipment by as much as $9 million as it prepares to shift its strategic direction. More >>
Twyford's choice: NZTA or Super Fund for Auckland light rail
Thursday, 22 August 2019, 3:40 pm | BusinessDesk
Aug. 22 (BusinessDesk) - Transport Minister Phil Twyford will decide early next year whether to use traditional government procurement to build a light rail network in Auckland, or bypass those processes with a New Zealand Superannuation Fund joint ... More >>
Auckland Airport boss warns against complacency
Thursday, 22 August 2019, 2:32 pm | BusinessDesk
Aug. 22 (BusinessDesk) - Auckland International Airport chief executive Adrian Littlewood is upbeat about the future despite signs of softening traveller numbers, but warned against complacency. More >>
NZ Shareholders' Association to oppose directors' fees
Thursday, 22 August 2019, 2:06 pm | BusinessDesk
Aug. 22 (BusinessDesk) - The New Zealand Shareholders’ Association says it will vote any proxies it holds against Stride Property and Stride Investment Management’s proposal to increase directors’ fees. More >>
Sky TV cans dividend, writes off $670m
Thursday, 22 August 2019, 1:37 pm | BusinessDesk
Aug. 22 (BusinessDesk) - Sky Network Television won't pay a dividend for the first time since 2005 and has written down the value of the business by $670 million as it prepares to fight more aggressively for content rights under new leadership. More >>
Ebos annual result flat as M&A costs hit bottom line
Thursday, 22 August 2019, 1:15 pm | BusinessDesk
Aug. 22 (BusinessDesk) - Ebos is promising “a significant increase” in earnings this year as it reports a flat result for the year ended June. More >>
FIRST CUT: Higher fuel costs, soft demand hit Air NZ profit
Thursday, 22 August 2019, 12:13 pm | BusinessDesk
Aug. 22 (BusinessDesk) - Air New Zealand saw tax-paid profit fall 31 percent in the year ended June 30 as the impact of sharply higher jet fuel costs, weakening global markets for air travel and the one-off costs associated with the recall of Rolls ... More >>
FIRST CUT: Auckland Airport earnings at top end of guidance
Thursday, 22 August 2019, 11:59 am | BusinessDesk
Aug. 22 (BusinessDesk) - Auckland International Airport reported a 4.4 percent lift in its underlying profit after another record year for traveller numbers. More >>
NZ dollar hovers near 64 US cents as central bankers gather
Thursday, 22 August 2019, 11:05 am | BusinessDesk
Aug. 22 (BusinessDesk) - The New Zealand dollar is hovering near 64 US cents after minutes from the US Federal Reserve suggested the rate cut there last month wasn't the start of a strong easing cycle. More >>
Hodson to stamp mark on new Spark strategy early next year
Thursday, 22 August 2019, 10:52 am | BusinessDesk
Aug. 22 (BusinessDesk) - Spark New Zealand's new chief executive Jolie Hodson will outline where she wants to take the country's biggest telecommunications company early next year. More >>
MARKET CLOSE: NZ shares sink as investors punish A2
Wednesday, 21 August 2019, 9:03 pm | BusinessDesk
Aug. 21 (BusinessDesk) - New Zealand shares dropped in one of the reporting season's busiest days as A2 Milk fell to a six-week low when its margins disappointed investors. Fletcher Building and Spark New Zealand both gained on their results. More >>
Are Fletcher's NZ earnings at the top of the cycle?
Wednesday, 21 August 2019, 9:02 pm | BusinessDesk
Aug. 21 (BusinessDesk) - Fletcher Building says activity in all parts of its New Zealand markets is “elevated’’ but its managing director doesn’t want to say whether current earnings should be viewed as top-of-the-cycle results. More >>
NZ dollar falls against Aussie; RBNZ seen as more dovish
Wednesday, 21 August 2019, 9:00 pm | BusinessDesk
Aug. 21 (BusinessDesk) - The New Zealand dollar fell against its Australian counterpart as the local central bank is considered more prone to cut interest rates than Australia’s. More >>
Air NZ CFO named acting chief executive
Wednesday, 21 August 2019, 7:20 pm | BusinessDesk
Aug. 21 (BusinessDesk) - Air New Zealand chief financial officer Jeff McDowall will fill in as acting chief executive from late September while the board sifts through a number of candidates to lead the national carrier. More >>
Waitomo favours more open wholesale fuel contracts
Wednesday, 21 August 2019, 6:56 pm | BusinessDesk
Aug. 21 (BusinessDesk) - Waitomo Group says it would welcome greater freedom in fuel contracting proposed by the Commerce Commission, but it has doubts about the returns the regulator believes smaller retailers are making. More >>
UPDATE: Fletcher directors enjoy pay rise as earnings fall
Wednesday, 21 August 2019, 4:15 pm | BusinessDesk
Aug. 21 (BusinessDesk) - Fletcher Building’s managing director and other directors have all enjoyed pay increases despite the company’s earnings from core operations mostly falling and a precipitous drop in the share price. More >>
Stable ETS important for Marsden Point
Wednesday, 21 August 2019, 3:37 pm | BusinessDesk
Aug. 21 (BusinessDesk) - The top-quartile emissions performance of the Marsden Point oil refinery is a national advantage and one the firm will be working to maintain when it enters the emissions trading scheme in 2023, chief executive Mike Fuge says. More >>
UPDATE AND CORRECT: Spark shares rally
Wednesday, 21 August 2019, 3:17 pm | BusinessDesk
Aug. 21 (BusinessDesk) - Spark New Zealand shares hit an eight-month high after the country's biggest telecommunications company lifted annual profit 12 percent as it stripped out costs through a company-wide transformation programme. More >>
Fletcher directors enjoy pay rises as earnings fall
Wednesday, 21 August 2019, 2:14 pm | BusinessDesk
Aug. 21 (BusinessDesk) - Fletcher Building’s managing director and other directors have all enjoyed pay increases despite the company’s earnings from core operations mostly falling and a precipitous drop in the share price. More >>
