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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 315]
Anadarko to leave NZ as cheap oil undermines case
Tuesday, 28 November 2017, 5:04 pm | BusinessDesk
Nov. 28 (BusinessDesk) - Texas-based energy explorer and producer Anadarko plans to leave New Zealand, with persistently low oil prices making marginal investments in distant areas less appealing. More >>
UPDATE: Turners sees growth driven by finance lending
Tuesday, 28 November 2017, 4:19 pm | BusinessDesk
(Updates to recast lede, adds detail from conference call beginning in paragraph three, updates share price). More >>
ASX-listed 9 Spokes widens first-half loss
Tuesday, 28 November 2017, 4:16 pm | BusinessDesk
Nov. 28 (BusinessDesk) - ASX-listed 9 Spokes International reported a wider first-half net loss on higher expenses and said it may need to raise additional funds in the next 12 months to meet an ongoing shortfall. More >>
ASB restates capital ratios after miscalculation
Tuesday, 28 November 2017, 3:59 pm | BusinessDesk
Nov. 28 (BusinessDesk) - ASB Bank, the local arm of Commonwealth Bank of Australia, has restated its reported capital ratios after a miscalculation meant it fell short of compliance for the better part of a year. More >>
Augusta lifts offer in revised bid for NPT contract
Tuesday, 28 November 2017, 2:53 pm | BusinessDesk
Nov. 28 (BusinessDesk) - Augusta Capital has hiked its offer to buy the management contract for NPT in a revised offer to run the listed property owner, having been rebuffed last year and forced to win over its fellow NPT shareholders to install ... More >>
Orion Health widens 1H loss, lowers FY outlook
Tuesday, 28 November 2017, 1:59 pm | BusinessDesk
Nov. 28 (BusinessDesk) - Orion Health, the health software developer whose shares have lost almost half their value this year, widened its first-half loss and lowered its outlook for the full year. More >>
Trilogy 1H profit up 17% on lower finance costs, earn-out
Tuesday, 28 November 2017, 1:24 pm | BusinessDesk
Nov. 28 (BusinessDesk) - Trilogy International lifted first-half profit 17 percent as the scented candle and beauty products maker faced lower interest costs and earn-out payments, although the firm's underlying earnings were hit by skinnier margins. More >>
Turners lifts 1H revenue, profit, expects FY profit gains
Tuesday, 28 November 2017, 1:14 pm | BusinessDesk
Nov. 28 (BusinessDesk) - Turners Automotive Group, New Zealand's largest second-hand vehicle retailer, says first-half revenue and profit rose and it expects full-year pre-tax earnings to rise as much as 26 percent. More >>
ERoad first-half loss widens on US investment
Tuesday, 28 November 2017, 12:38 pm | BusinessDesk
Nov. 28 (BusinessDesk) - ERoad widened its first-half loss as the logistics and fleet management firm ramped up spending to drive its US business, which it wants First NZ Capital to put under the microscope to see how it can drive faster growth. More >>
NZ$ Climbs Above 69 US Cents
Tuesday, 28 November 2017, 11:39 am | BusinessDesk
Nov. 28 (BusinessDesk) - The New Zealand dollar rose above 69 US cents for the first time in about a week on perceptions it has fallen too far on local political concerns after touching a 17-month low this month. More >>
While you were sleeping: Amazon shares rise on Cyber Monday
Tuesday, 28 November 2017, 10:52 am | BusinessDesk
Nov. 28 (BusinessDesk) - Wall Street was mixed as shares of Amazon rose amid signs of robust spending by shoppers on Cyber Monday, the busiest online spending day of the year, while energy stocks followed oil prices lower. More >>
RESEND: MARKET CLOSE: NZ shares gain as Ryman hits record
Monday, 27 November 2017, 9:02 pm | BusinessDesk
RESEND: MARKET CLOSE: NZ shares gain as Ryman hits record, index re-weightings (Adds dropped word 'shares' in first paragraph) More >>
MARKET CLOSE: NZ shares gain as Ryman hits record
Monday, 27 November 2017, 8:34 pm | BusinessDesk
MARKET CLOSE: NZ shares gain as Ryman hits record, index re-weightings lift F&P Healthcare More >>
Robertson to announce date for pre-Christmas fiscal plan
Monday, 27 November 2017, 8:33 pm | BusinessDesk
Nov. 27 (BusinessDesk) - Finance Minister Grant Robertson will use a major speech in Auckland on Friday to announce the date of the pre-Christmas fiscal update and Budget Policy Statement, cementing in place the timetable for achieving key elements ... More >>
NZ dollar little changed ahead of RBNZ's stability report
Monday, 27 November 2017, 8:32 pm | BusinessDesk
Nov. 27 (BusinessDesk) - The New Zealand dollar fell but remained largely rangebound ahead of key events later in the week including the central bank's financial stability report as well as possible comments from the US Federal Reserve. More >>
Green Cross Health first-half sales rose 6.9%
Monday, 27 November 2017, 8:31 pm | BusinessDesk
Green Cross Health first-half sales rose 6.9%, profit falls on year-earlier one-time gain More >>
James Hardie loses Court bid to toss out class action
Monday, 27 November 2017, 8:30 pm | BusinessDesk
Nov. 27 (BusinessDesk) - Two James Hardie companies, James Hardie New Zealand and Studorp, lost their application to toss out a leaky buildings class action case in the Supreme Court. More >>
FMA publishes benchmark P2P lending, crowdfunding figures
Monday, 27 November 2017, 8:28 pm | BusinessDesk
Nov. 27 (BusinessDesk) - The Financial Markets Authority has released the first annual snapshot of lending through peer-to-peer platforms and equity raised via crowdfunding portals to give investors and firms a better handle on market trends. More >>
Wilson Parking NZ annual profit jumps 22%
Monday, 27 November 2017, 4:19 pm | BusinessDesk
Nov. 27 (BusinessDesk) - Wilson Parking New Zealand, the local unit of a business ultimately controlled by Hong Kong's Kwok family, posted a 22 percent gain in full-year profit as sales at its parking and security units rose. More >>
Rubicon pays 'bargain' price for ArgborGen control
Monday, 27 November 2017, 3:47 pm | BusinessDesk
Nov. 27 (BusinessDesk) - Rubicon says it got a bargain with the US$29 million price to buy out partners in ArborGen after refusing to waive provisions that would have allowed its former co-investors to run a formal sales process for their stakes in ... More >>
