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BusinessDesk - Latest News [Page 272]

NZ dollar falls vs Aussie on wider January trade deficit

Tuesday, 27 February 2018, 8:22 pm | BusinessDesk

Feb. 27 (BusinessDesk) - The New Zealand dollar fell against its trans-Tasman counterpart after traders were surprised by local trade data unexpectedly showing the biggest January trade deficit since 2007. More >>

Fickle rainfall favours Mercury, Genesis

Tuesday, 27 February 2018, 7:33 pm | BusinessDesk

Feb. 27 (BusinessDesk) - Reporting season was a tale of two islands for the electricity sector as dry South Island conditions sapped first-half earnings for Contact Energy and Meridian Energy, forcing them to lean on backstop Genesis Energy, while Mercury ... More >>

Foley Family Wines returns to first-half profit

Tuesday, 27 February 2018, 6:32 pm | BusinessDesk

Feb. 27 (BusinessDesk) - Foley Family Wines returned to a first-half profit as the food and beverage firm controlled by US businessman Bill Foley lifted sales 21 percent and didn't face a repeat of Kaikoura earthquake-related costs. More >>

Veritas investigating sale or merger of Better Bar Co

Tuesday, 27 February 2018, 6:25 pm | BusinessDesk

Feb. 27 (BusinessDesk) - Veritas Investments is investigating a sale or merger of its profitable Better Bar Co as the NZX-listed firm seeks ways to repay lender ANZ Bank New Zealand. More >>

NZ Refining chief Sjoerd Post to leave at the end of July

Tuesday, 27 February 2018, 6:23 pm | BusinessDesk

Feb. 27 (BusinessDesk) - New Zealand Refining chief executive Sjoerd Post will leave the Marsden Point refinery operator at the end of July after five years in the role. More >>

FMA brings first FSPR charges against unregistered firm

Tuesday, 27 February 2018, 5:26 pm | BusinessDesk

Feb. 27 (BusinessDesk) - The Financial Markets Authority has filed criminal charges against a firm and its New Zealand-based director for claiming registration on the Financial Service Providers Register after it had been kicked off. More >>

Oslo-listed Tomra Food buys kiwi small fruit packing company

Tuesday, 27 February 2018, 4:31 pm | BusinessDesk

Feb. 27 (BusinessDesk) - Oslo-listed Tomra Food has inked a deal to buy 100 percent of the shares in Hamilton-based small fruit packing and sorting company BBC Technologies for $66.9 million. More >>

NZ carbon emission rise lags economic growth

Tuesday, 27 February 2018, 3:06 pm | BusinessDesk

Feb. 27 (BusinessDesk) - New Zealand's carbon emissions continue to rise, but new figures from Statistics New Zealand show the increase is slower than growth in the economy for most of the last 25 years, suggesting a relative improvement in resource ... More >>

NZ imports, exports reach new highs in January

Tuesday, 27 February 2018, 2:52 pm | BusinessDesk

Feb. 27 (BusinessDesk) - New Zealand increased its trade activity at the start of 2018, with imports and exports both reaching new highs for a January month. More >>

Vital Healthcare first-half earnings slip 2.7%

Tuesday, 27 February 2018, 2:33 pm | BusinessDesk

Feb. 27 (BusinessDesk) - Vital Healthcare Property Trust reported a 2.7 percent decline in first-half earnings as the listed hospital owner and developer's expanding assets generated a bigger management fee. More >>

Minimal impact after ships turned away due to stink bug

Tuesday, 27 February 2018, 2:07 pm | BusinessDesk

Feb. 27 (BusinessDesk) - Turners Automotive Group, New Zealand's largest second-hand vehicle retailer, said there has been minimal impact on its business from cargo ships being turned away from local ports after brown marmorated stink bugs were detected ... More >>

Irish central bank seeks provisional administration at CBL

Tuesday, 27 February 2018, 2:05 pm | BusinessDesk

Feb. 27 (BusinessDesk) - The Central Bank of Ireland sought a court order to appoint provisional administrators to CBL Corp's European unit, following similar action from New Zealand's prudential supervisor, to avoid a "disorderly failure" of the ... More >>

PGG Wrightson 1H earnings beat expectations

Tuesday, 27 February 2018, 1:13 pm | BusinessDesk

Feb. 27 (BusinessDesk) - PGG Wrightson said first-half earnings beat expectations and upgraded its outlook for the full year as its agricultural businesses traded better than anticipated. More >>

NZOG narrows first-half loss after restructuring

Tuesday, 27 February 2018, 1:12 pm | BusinessDesk

Feb. 27 (BusinessDesk) - New Zealand Oil & Gas, which is now controlled by OG Oil & Gas, narrowed its first-half loss having largely completed an overhaul of its portfolio that's left a series of impairment charges and unprofitable businesses ... More >>

Rakons to buy out Indian joint venture manufacturing partner

Tuesday, 27 February 2018, 1:02 pm | BusinessDesk

Feb. 27 (BusinessDesk) - Rakon is seeking to buy out its senior partner in an Indian joint venture for US$5.5 million, giving it control of what it says is a core part of the component maker's manufacturing strategy. More >>

Mercury first half profit rises 17%

Tuesday, 27 February 2018, 12:37 pm | BusinessDesk

Feb. 27 (BusinessDesk) - Mercury NZ lifted first-half profit 17 percent on the back of record total generation driven by favourable North Island rainfall. More >>

No 'singling out' China for criticism, PM says

Tuesday, 27 February 2018, 12:30 pm | BusinessDesk

Feb. 27 (BusinessDesk) - New Zealand will not "single out" China for criticism on issues such as human rights and regional security, Prime Minister Jacinda Ardern told a New Zealand Institute of International Affairs seminar in her first major ... More >>