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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 290]
Govt turns out operating surplus on rising tax intake
Thursday, 25 January 2018, 1:32 pm | BusinessDesk
Jan. 25 (BusinessDesk) - The New Zealand government posted an unexpected operating surplus in the first five months of the financial year as rising consumer spending bolstered GST and a robust labour market boosted income tax. More >>
Infratil's NZ Bus concludes Wellington negotiations
Thursday, 25 January 2018, 1:29 pm | BusinessDesk
Jan. 25 (BusinessDesk) - Infratil, the publicly listed infrastructure investor, finished its NZ Bus negotiations in Wellington, with contracts to begin in the second half of this year. More >>
Oceania Healthcare lifts 1H profit 93%
Thursday, 25 January 2018, 1:00 pm | BusinessDesk
Jan. 25 (BusinessDesk) - Oceania Healthcare, which listed on the NZX last May, reported first-half profit nearly doubled as its investment property became more valuable and it sold more retirement village units. More >>
Trustpower to probe TECT proposal to ditch customer rebates
Thursday, 25 January 2018, 12:13 pm | BusinessDesk
Jan. 25 (BusinessDesk) - Trustpower will take a close look at a proposal by cornerstone shareholder Tauranga Energy Consumer Trust to ditch customer rebates in five years in favour of funding community projects. More >>
NZ dollar jumps above 74 US cts
Thursday, 25 January 2018, 11:39 am | BusinessDesk
Jan. 25 (BusinessDesk) - The New Zealand dollar jumped above 74 US cents for the first time since September after US Treasury Secretary Steven Mnuchin talked up the trade benefits of a weaker greenback, while Commerce Secretary Wilbur Ross said his ... More >>
While you were sleeping: Wall St, US dollar slide
Thursday, 25 January 2018, 11:00 am | BusinessDesk
Jan. 25 (BusinessDesk) - The US dollar dropped while Wall Street fell, giving up gains that had pushed the benchmark stock indexes to record highs earlier in the day, after US Treasury secretary Steven Mnuchin encouraged a weaker greenback. More >>
Livestock Improvement Corp first-half profit drops 22%
Wednesday, 24 January 2018, 8:37 pm | BusinessDesk
Jan. 24 (BusinessDesk) - Livestock Improvement Corp posted a 22 percent slide in first-half profit as the farmer-owned herd genetics cooperative ramped up spending to overhaul its business, which it says is vulnerable to the same disruption other ... More >>
MARKET CLOSE: NZ shares mixed, A2 and Mercury gain
Wednesday, 24 January 2018, 8:35 pm | BusinessDesk
Jan. 24 (BusinessDesk) - New Zealand shares were mixed as trading picked up, with A2 Milk Co and Mercury Energy gaining while Metro Performance Glass fell. More >>
Dollar gains as CPTPP deal reached; growing US protectionism
Wednesday, 24 January 2018, 8:22 pm | BusinessDesk
Jan. 24 (BusinessDesk) - The New Zealand dollar gained as investors welcomed an agreement on the regional Asia-Pacific trade and investment pact, while growing US protectionism weighed on the greenback. More >>
NZ farm sales fall in December quarter while prices hold
Wednesday, 24 January 2018, 7:36 pm | BusinessDesk
Jan. 24 (BusinessDesk) - Farm sales fell 21 percent in the December quarter from a year earlier, although prices held up as increasingly expensive horticulture properties offset cheaper dairy farms, according to the Real Estate Institute. More >>
Volpara posts record sales in December quarter
Wednesday, 24 January 2018, 3:45 pm | BusinessDesk
Jan. 24 (BusinessDesk) - Volpara Health Technologies, the Kiwi digital health firm listed on the ASX, reported record quarterly sales in the third quarter and is still on track to exceed its annual recurring revenue growth target for the year. More >>
FNZC cuts target price but maintains dividend hopes for Z
Wednesday, 24 January 2018, 3:00 pm | BusinessDesk
Jan. 24 (BusinessDesk) - First NZ Capital says it's plausible Z Energy's downgraded guidance is due to one-off factors and maintained its dividend expectations for the stock, but has trimmed its target price for the stock. More >>
Michael Hill gives up on decade-long US experiment
Wednesday, 24 January 2018, 2:34 pm | BusinessDesk
Jan. 24 (BusinessDesk) - Michael Hill International, the jewellery chain founded by its namesake, will wind up its US operations after a decade-long investment failed to build a profitable business, and is overhauling its Emma & Roe jewellery line. More >>
Kathmandu tips first half profit to rise 20% on higher sales
Wednesday, 24 January 2018, 2:05 pm | BusinessDesk
Jan. 24 (BusinessDesk) - Kathmandu Holdings, the outdoor equipment retailer, expects a 20 percent lift in first-half net profit on a 4 percent lift in total sales and wider gross margins. More >>
NZIBF praises concluded CPTPP negotiations
Wednesday, 24 January 2018, 1:38 pm | BusinessDesk
Jan. 24 (BusinessDesk) - The New Zealand International Business Forum (NZIBF) welcomed news negotiators meeting in Tokyo concluded talks for the renamed Comprehensive and Progressive Trans-Pacific Partnership (CPTPP). More >>
Kimbal Riley to take helm of Vista in April
Wednesday, 24 January 2018, 12:41 pm | BusinessDesk
Jan. 24 (BusinessDesk) - Kimbal Riley will take over as Vista Group International chief executive from April 3, replacing Murray Holdaway, who will become chief product officer. More >>
Second Mercury earnings upgrade
Wednesday, 24 January 2018, 12:08 pm | BusinessDesk
Jan. 24 (BusinessDesk) - Mercury NZ, formerly MightyRiverPower, has raised its annual earnings guidance for a second time as a spell of wet summer weather around Taupo has the power company anticipating increased generation at its North Island hydro ... More >>
NZ dollar hits 4-month high as Trump announces US tariffs
Wednesday, 24 January 2018, 11:43 am | BusinessDesk
Jan. 24 (BusinessDesk) - The New Zealand dollar rose to a four-month high as US President Donald Trump raised tariffs on imports of washing machines and solar panels, raising fears about the White House's protectionist attitude. More >>
While you were sleeping: Wall St mixed, Netflix rallies
Wednesday, 24 January 2018, 10:45 am | BusinessDesk
Jan. 24 (BusinessDesk) - Wall Street was mixed, though trading near record highs, as a rally in shares of Netflix following better-than-expected earnings offset slides in shares of Johnson & Johnson Procter & Gamble as their results disappointed. More >>
MARKET CLOSE: NZ shares mixed; Z drops on downgrade
Tuesday, 23 January 2018, 8:33 pm | BusinessDesk
Jan. 23 (BusinessDesk) - New Zealand shares were mixed, with Z Energy dropping on an earnings downgrade while Air New Zealand bounced back from recent selling. More >>
