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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 247]
Restaurant Brands lifts FY profit 37%
Tuesday, 17 April 2018, 1:02 pm | BusinessDesk
April 17 (BusinessDesk) - Restaurant Brands New Zealand increased annual profit 37 percent after the fast-food operator lifted earnings in its local market and benefited from its expanded business through Australia and Hawaii. More >>
Summerset buys land for second Napier village
Tuesday, 17 April 2018, 1:01 pm | BusinessDesk
Summerset buys land for second Napier village, Metlife finalises deal for Hobsonville site By Paul McBeth More >>
Smiths City to write down unprofitable stores by $4.8M
Tuesday, 17 April 2018, 12:44 pm | BusinessDesk
April 17 (BusinessDesk) - Smiths City Group will write down several unprofitable stores by $4.8 million as the rebranded Auckland stores struggle to gain traction with an unfamiliar clientele, pushing the retailer into the red for the current financial ... More >>
NZ house sales drop 9.9% in March
Tuesday, 17 April 2018, 12:31 pm | BusinessDesk
April 17 (BusinessDesk) - New Zealand house sales fell 9.9 percent and took a day longer to sell in March from a year earlier as a cooling Auckland property market continued to weigh on the national outlook. More >>
Fletcher to raise $750M selling shares at deep discount
Tuesday, 17 April 2018, 12:26 pm | BusinessDesk
April 17 (BusinessDesk) - Fletcher Building plans to raise $750 million in an underwritten offer to shareholders at a deep discount and sell its Formica and steel roof tile businesses, strengthening its balance sheet and gaining support from its banking ... More >>
Big wet spurs third earnings guidance upgrade for Mercury
Tuesday, 17 April 2018, 12:11 pm | BusinessDesk
April 17 (BusinessDesk) - Electricity generator and retailer Mercury NZ raised annual earnings guidance fpr a third time as persistent wet weather in the central North Island swelled the electricity generator-retailer's hydro scheme. More >>
NZ dollar falls to near 2-week low
Tuesday, 17 April 2018, 11:54 am | BusinessDesk
April 17 (BusinessDesk) - The New Zealand dollar fell to near a two-week low against the pound on speculation economic data including employment and wages will build the case for a rate hike by the Bank of England next month. More >>
While you were sleeping: Earnings optimism lifts Wall St
Tuesday, 17 April 2018, 10:48 am | BusinessDesk
April 17 (BusinessDesk) - Wall Street moved higher as investors geared up for the US earnings season amid easing concern about a global trade war and geopolitical tensions. More >>
Electricity review panel looks favourable to current market
Monday, 16 April 2018, 9:43 pm | BusinessDesk
April 16 (BusinessDesk) - The government's electricity sector review appears firmly weighted against any major change to market settings, with six of its eight members identifiably supportive of the broad thrust of electricity market reforms over the ... More >>
MARKET CLOSE: NZ shares fall; Ebos, Ryman, Air NZ drop
Monday, 16 April 2018, 8:49 pm | BusinessDesk
April 16 (BusinessDesk) - New Zealand shares fell in relatively subdued trading, led by Ebos Group, Ryman Healthcare, Air New Zealand and Fletcher Building. Comvita fell after a profit warning while A2 Milk gained on news of a deal in South Korea. More >>
Zespri says Gold3 licensing to generate up to $195M in 2018
Monday, 16 April 2018, 8:48 pm | BusinessDesk
April 16 (BusinessDesk) - Zespri Group said corporate revenue from the 2018 allocation of the Gold3 license release will be $190 million to $195 million, or around $253,000-to-$260,000 per hectare, a figure that is up on the prior year. More >>
NZ dollar largely unchanged
Monday, 16 April 2018, 8:12 pm | BusinessDesk
April 16 (BusinessDesk) - The New Zealand dollar was largely unchanged against the greenback with investors fairly sanguine about the US-led strikes on Syria over the weekend after a muted reaction from Russia. More >>
No earnings impact from Rolls Royce engine checks: Air NZ
Monday, 16 April 2018, 8:00 pm | BusinessDesk
Some travel disruption but no earnings impact from Rolls Royce engine checks, says Air NZ More >>
NZ inflation may have slowed in first quarter
Monday, 16 April 2018, 7:17 pm | BusinessDesk
April 16 (BusinessDesk) - New Zealand's annual pace of inflation probably slowed in the first three months of the year as the government's 'fees free' tertiary education policy comes into effect, removing price pressures in the sector. More >>
High Court hearing on Trans-Tasman Resources underway
Monday, 16 April 2018, 6:30 pm | BusinessDesk
April 16 (BusinessDesk) - A four-day hearing kicked off in the Wellington High Court challenging the Environmental Protection Authority-appointed committee’s decision to grant a marine consent to Trans-Tasman Resources’ offshore iron mining project ... More >>
A2 shares rise on new distribution deal
Monday, 16 April 2018, 6:28 pm | BusinessDesk
April 16 (BusinessDesk) - A2 Milk Co has signed an exclusive distribution deal with Yuhan Corp in South Korea, more than a decade after an earlier foray into that country which ended in litigation. The milk marketing firm's shares rose 1.3 percent. More >>
National transport strategy needs to get runs on the board
Monday, 16 April 2018, 6:26 pm | BusinessDesk
April 16 (BusinessDesk) - New Zealand's government needs to get some tangible wins with its national transport strategy in building a more efficient, resilient and sustainable freight network to avoid returning to an uncoordinated policy, says Mainfreight ... More >>
Wet weather pushes vege prices up 11% in March
Monday, 16 April 2018, 2:18 pm | BusinessDesk
April 16 (BusinessDesk) - New Zealand food prices rose 1 percent in March from February as wet weather pushed up vegetable prices 11 percent. More >>
NZ services activity expands for first time in four months
Monday, 16 April 2018, 2:08 pm | BusinessDesk
April 16 (BusinessDesk) - New Zealand's services sector activity, which accounts for about two-thirds of the economy, expanded for the first time in four months, in March, led by strong sales growth after a storm-dented start to the year. More >>
Comvita advises of possible takeover
Monday, 16 April 2018, 1:52 pm | BusinessDesk
April 16 (BusinessDesk) - Comvita, the NZX-listed manuka honey company, foreshadowed that it may be the subject of a takeover, with an unidentified third party currently undertaking due diligence to assess the business. More >>
