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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 273]
MARKET CLOSE: NZ shares join global rally
Monday, 26 February 2018, 8:31 pm | BusinessDesk
Feb. 26 (BusinessDesk) - New Zealand shares joined a global rally, buoyed by optimism over local earnings with retirement village operator Summerset Group gaining for a second day, in contrast to rival Metlifecare which disappointed investors. More >>
NZ dollar gains as markets wager Fed will be measured
Monday, 26 February 2018, 8:18 pm | BusinessDesk
Feb. 26 (BusinessDesk) - The New Zealand dollar gained as markets wager new US Federal Reserve chair Jerome Powell will remain measured in his first testimony this week, adding to the view that the Fed will only lift interest rates three times this year. More >>
UPDATE: Metlifecare shares fall 4.8%
Monday, 26 February 2018, 6:11 pm | BusinessDesk
UPDATE: Metlifecare shares fall 4.8% as posts drop as first-half profit falls 66% More >>
Transpower seeks up to $125 mln in new bond
Monday, 26 February 2018, 5:12 pm | BusinessDesk
Feb. 26 (BusinessDesk) - State-owned national grid operator Transpower is seeking up to $125 million through the sale of a new bond ahead of a $325 million maturity later this year. More >>
Chorus open to convergence in fixed, mobile networks
Monday, 26 February 2018, 4:34 pm | BusinessDesk
Feb. 26 (BusinessDesk) - Chorus chief executive Kate McKenzie says she's open to the growing crossover between fixed and mobile telecommunications networks, which has seen the network operator lose connections to sometimes rival and customer Spark ... More >>
Metlifecare posts drop in 1H profit
Monday, 26 February 2018, 1:52 pm | BusinessDesk
Feb. 26 (BusinessDesk) - Metlifecare, New Zealand's second-largest listed retirement village operator, posted a 66 percent drop in first-half profit as it felt the impact of a slowing property market and missed out on sales gains after it bought back units ... More >>
Chorus first-half profit drops 29%
Monday, 26 February 2018, 12:48 pm | BusinessDesk
Feb. 26 (BusinessDesk) - Chorus reported a 29 percent decline in first-half profit as the telecommunications network operator faced heightened competition for customer connections from the likes of Spark New Zealand's wireless technology, and has signalled ... More >>
CBL appoints voluntary administrators
Monday, 26 February 2018, 11:53 am | BusinessDesk
Feb. 26 (BusinessDesk) - NZX-listed CBL Corp has appointed voluntary administrators to "preserve value" after the Reserve Bank won a court order to place subsidiary CBL Insurance in interim liquidation on Friday. More >>
Fed chair Powell testimony comes into focus
Monday, 26 February 2018, 11:38 am | BusinessDesk
Feb. 26 (BusinessDesk) - The New Zealand dollar held below 73 US cents as investors await Federal Reserve chair Jerome Powell's first testimony to Congress this week, where they'll be looking for clues on the track for US interest rates. Feb. 26 (BusinessDesk) ... More >>
World Week Ahead: Rate path check from Powell
Monday, 26 February 2018, 11:10 am | BusinessDesk
Feb 26 (BusinessDesk) - Investors will eye Federal Reserve chair Jerome Powell’s first testimony to Congress as well as a slew of US economic reports for clues on the incline of the path of interest rate increases. More >>
RBNZ gets CBL Insurance interim liquidation order
Friday, 23 February 2018, 10:22 pm | BusinessDesk
Feb. 23 (BusinessDesk) - The High Court has ordered CBL Insurance be placed into interim liquidation on an application by the Reserve Bank as the insurer's prudential supervisor. More >>
MARKET CLOSE: NZ shares rise, led by Summerset
Friday, 23 February 2018, 9:02 pm | BusinessDesk
MARKET CLOSE: NZ shares rise, led by Summerset, Metlifecare, Comvita falls after flagging poor season More >>
NZ dollar heads for 1.2% weekly fall
Friday, 23 February 2018, 8:40 pm | BusinessDesk
NZ dollar heads for 1.2% weekly fall as greenback finds favour on rate hike view More >>
Northport upbeat on regional fund
Friday, 23 February 2018, 8:39 pm | BusinessDesk
Feb. 23 (BusinessDesk) - Marsden Point-based Northport has welcomed the government's plans to invest in roading and infrastructure projects in Northland and to investigate the viability of a rail link to Northport as it looks to support economic growth ... More >>
Seeka annual profit falls 44% on lower kiwifruit volumes
Friday, 23 February 2018, 8:38 pm | BusinessDesk
Feb. 23 (BusinessDesk) - Seeka posted a 44 percent decline in annual profit as Australasia's biggest kiwifruit grower booked a $2 million charge on its banana sourcing unit while managing a decline in kiwifruit volumes. More >>
Pyne Gould first-half profit gains on Wilaci settlement
Friday, 23 February 2018, 8:37 pm | BusinessDesk
Feb. 23 (BusinessDesk) - Pyne Gould Corp more than tripled first-half profit as the investment firm settled litigation with Australian businessman John Grills' Wilaci unit, offsetting an operating loss on smaller investment gains and skinnier land ... More >>
Steel & Tube may be interested in Fletcher assets
Friday, 23 February 2018, 8:35 pm | BusinessDesk
Steel & Tube may be interested in Fletcher assets if review prompts sales, CEO Malpass says More >>
A personal obituary: Rob Cameron By Pattrick Smellie
Friday, 23 February 2018, 8:28 pm | BusinessDesk
Feb. 23 (BusinessDesk) - The last time I heard from Rob Cameron was out of the blue, just before Christmas. More >>
Countdown supermarkets 1H earnings fall 7.7%
Friday, 23 February 2018, 3:44 pm | BusinessDesk
Feb. 23 (BusinessDesk) - ASX-listed retailer Woolworths Group ramped up investment in its Countdown chain of supermarkets across New Zealand, leading to a 7.7 percent decline in first-half earnings with a similar effect expected in the second half. More >>
Regional growth fund trickle becomes avalanche
Friday, 23 February 2018, 3:27 pm | BusinessDesk
By Pattrick Smellie Feb. 23 (BusinessDesk) - The government has made an initial $61.7 million down-payment on its promise to spend $1 billion a year for the next three years on regional economic growth initiatives, with Cabinet papers signalling it ... More >>
