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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 271]
John Key, chair of ANZ NZ, gets tapped for parent ANZ board
Wednesday, 28 February 2018, 6:11 pm | BusinessDesk
Feb. 28 (BusinessDesk) - Former Prime Minister John Key has been named to the board of Australia & New Zealand Banking Group, having served as chair of the lender's New Zealand unit since January. More >>
Sky TV shares sink to two-month low
Wednesday, 28 February 2018, 4:58 pm | BusinessDesk
Feb. 28 (BusinessDesk) - Sky Network Television shares fell to a two-month low after the pay-TV operator halved its interim dividend, retaining cash after cutting the price of its most basic product as it gears up for what may be an expensive battle ... More >>
Vista shares climb on 57% gain in operating profit
Wednesday, 28 February 2018, 4:26 pm | BusinessDesk
Vista shares climb on 57% gain in operating profit as sales grow faster than costs More >>
NZ business confidence stays low in first 2018 survey
Wednesday, 28 February 2018, 4:15 pm | BusinessDesk
Feb. 28 (BusinessDesk) - The first business confidence survey of 2018 shows local firms are still feeling negative, despite all five sectors lifting in February and overall confidence improving. More >>
CentrePort turns to 1H profit on earthquake recovery
Wednesday, 28 February 2018, 3:24 pm | BusinessDesk
Feb. 28 (BusinessDesk) - CentrePort turned to a profit in the first half of its 2018 financial year as the Wellington port operator continued to recover from the damage wrought by the November 2016 Kaikoura earthquake, and signalled it may resume dividend ... More >>
RBNZ wants directors taking greater ownership of disclosure
Wednesday, 28 February 2018, 2:47 pm | BusinessDesk
Feb. 28 (BusinessDesk) - The Reserve Bank wants bank directors and auditors to take ownership in signing off on disclosure statements and is weighing up options to beef up the attestation regime that copped some flak from an International Monetary Fund ... More >>
TIL Logistics posts first-half loss on listing
Wednesday, 28 February 2018, 2:18 pm | BusinessDesk
Feb. 28 (BusinessDesk) - TIL Logistics Group, the freight and logistics company that went public with a reverse listing on the NZX in December, posted a first-half loss on listing and acquisition costs and said it expects to meet its full-year targets. More >>
NZ annual net migration slows in January as visas dip
Wednesday, 28 February 2018, 2:17 pm | BusinessDesk
Feb. 28 (BusinessDesk) - New Zealand annual net migration continued to moderate in January, while staying near record highs, with student and resident visa numbers dropping while work visa numbers continued to climb. More >>
Kiwi Property Group gives greenlight to $223M
Wednesday, 28 February 2018, 1:25 pm | BusinessDesk
Feb. 28 (BusinessDesk) - Kiwi Property Group has given a green light to a $223 million expansion of Auckland's Sylvia Park shopping centre that it says will see the site's value jump to $1.1 billion. More >>
Precinct Property 1H profit drops 55%
Wednesday, 28 February 2018, 1:24 pm | BusinessDesk
Feb. 28 (BusinessDesk) - Precinct Properties New Zealand, the listed commercial property investor, said first-half profit dropped on property revaluations and shifts in the interest rate swap curve, and it is monitoring Fletcher Building closely in its Commercial ... More >>
TVNZ beats full-year earnings targets in first six months
Wednesday, 28 February 2018, 1:06 pm | BusinessDesk
Feb. 28 (BusinessDesk) - State-owned broadcaster Television New Zealand reported a 17 percent improvement in operating earnings for the six months to Dec. 31. More >>
Vector posts 26% drop in 1H net profit
Wednesday, 28 February 2018, 12:44 pm | BusinessDesk
Feb. 28 (BusinessDesk) - Vector, the Auckland-based electricity and gas distributor, posted a 26 percent drop in first-half profit but reiterated its full-year guidance despite slower-than-expected growth in its technology business. More >>
Scales full-year profit falls 17% as prices dip
Wednesday, 28 February 2018, 12:43 pm | BusinessDesk
Feb. 28 (BusinessDesk) - Scales Corp posted a 17 percent drop in 2017 profit as its horticultural division contended with weaker sales prices and an increase in on-orchard costs after poor weather. More >>
Trade Me posts flat 1H profit
Wednesday, 28 February 2018, 12:35 pm | BusinessDesk
Trade Me posts flat 1H profit; warns FY18 profit will grow at a slower pace than FY17 By Tina Morrison More >>
Sky TV slashes prices to stem customer exodus
Wednesday, 28 February 2018, 12:33 pm | BusinessDesk
Feb. 28 (BusinessDesk) - Sky Network Television has slashed prices in an effort to slow an exodus of customers quitting its pay-TV service in favour of cheaper on-demand rivals and cut its interim dividend in half in an effort to cope with the rapidly ... More >>
NZ Refining profit jumps 66%
Wednesday, 28 February 2018, 12:30 pm | BusinessDesk
Feb. 28 (BusinessDesk) - New Zealand Refining, operator of the country's only oil refinery, declared a 66 percent increase in net profit for the year to Dec. 31, despite repair costs and lost sales totalling $14.3 million from the failure of the pipeline ... More >>
NZ dollar falls as Fed's Powell talks up US economic oulook
Wednesday, 28 February 2018, 11:33 am | BusinessDesk
Feb. 28 (BusinessDesk) - The New Zealand dollar fell as Federal Reserve chair Jerome Powell gave an upbeat assessment of the US economy, stoking expectations for US interest rates to rise and prompting stocks on Wall Street to decline. More >>
Stocks, bonds fall on Powell’s economic optimism
Wednesday, 28 February 2018, 11:03 am | BusinessDesk
Feb. 28 (BusinessDesk) - Wall Street moved lower as did US Treasuries, while the dollar rose, amid concern comments from Federal Reserve Chairman Jerome Powell suggested the central bank might have to raise interest rates more than previously thought. More >>
CORRECT: MARKET CLOSE: NZ shares gain for fifth day
Tuesday, 27 February 2018, 8:51 pm | BusinessDesk
CORRECT: MARKET CLOSE: NZ shares gain for fifth day, led by Synlait on North Island plans More >>
NZ risks 'strategic nincompoop' tag with Pacific policy
Tuesday, 27 February 2018, 8:45 pm | BusinessDesk
Feb. 27 (BusinessDesk) - New Zealand risks being seen as a "strategic nincompoop, at best" if it persists with attempts to bind Pacific Island countries into the New Zealand and Australian economies using mechanisms such as the PACER Plus ... More >>
