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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 319]
Kathmandu widens first quarter margins as sales drop
Tuesday, 21 November 2017, 4:36 pm | BusinessDesk
Nov. 21 (BusinessDesk) - Kathmandu Holdings, the outdoor equipment retailer set to hold its annual meeting on Friday, says its first-quarter earnings were up despite sales dipping as it widened margins by selling less sale stock. More >>
A2 Milk revenue, profit pushes higher
Tuesday, 21 November 2017, 3:30 pm | BusinessDesk
Nov. 21 (BusinessDesk) - A2 Milk, which markets milk with a protein variant said to have health benefits, says both revenue and net profit jumped in the first four months of the current financial year as it continues to benefit from strong demand ... More >>
Mohawk Industries to buy carpetmaker Godfrey Hirst
Tuesday, 21 November 2017, 3:26 pm | BusinessDesk
Nov. 21 (BusinessDesk) - Global flooring manufacturer Mohawk Industries has agreed to buy Australasian carpetmaker Godfrey Hirst, known domestically for acquiring failed rival Feltex more than a decade ago. More >>
UPDATE: F&P Healthcare first-half profit rises 4%
Tuesday, 21 November 2017, 3:02 pm | BusinessDesk
Nov. 21 (BusinessDesk) - Fisher & Paykel Healthcare, New Zealand's biggest listed company, increased first-half profit 4 percent, widened its margins, and lifted its forecast for full-year earnings to the top end of its range. More >>
Parrotdog plans $1.4M capital raise through crowdfunding
Tuesday, 21 November 2017, 3:01 pm | BusinessDesk
Nov. 21 (BusinessDesk) - Parrotdog, the Wellington-based brewing company, wants to raise up to $1.4 million in its second round of equity crowdfunding through PledgeMe. More >>
Arvida's 1H net profit dips on lower portfolio valuation
Tuesday, 21 November 2017, 1:27 pm | BusinessDesk
Nov. 21 (BusinessDesk) - Arvida Group, the retirement village company that listed in 2014, reported a decline in first-half profit on lower valuation gains and higher employee costs after a pay equity deal. More >>
F&P Healthcare first-half profit rises 4%
Tuesday, 21 November 2017, 1:03 pm | BusinessDesk
Nov. 21 (BusinessDesk) - Fisher & Paykel Healthcare, the medical device maker, increased first-half profit 4 percent, widened its margins, and lifted its forecast for full-year earnings to the top end of its range. More >>
Argosy first-half profit drops 58%
Tuesday, 21 November 2017, 12:37 pm | BusinessDesk
Nov. 21 (BusinessDesk) - Argosy Property posted a 58 percent decline in first-half profit as the firm became the latest listed property investor to report a little-changed portfolio valuation after several years of gains, and was faced with smaller rental ... More >>
Artificial Intelligence automates tasks, not jobs
Tuesday, 21 November 2017, 11:51 am | BusinessDesk
Nov. 21 (BusinessDesk) - Tapping into artificial intelligence will give law firm Chapman Tripp the opportunity to grow its legal business beyond what it does today and won't impact the number of graduates it hires, says technology partner Bruce ... More >>
NZ dollar little changed near 17-month low
Tuesday, 21 November 2017, 11:49 am | BusinessDesk
Nov. 21 (BusinessDesk) - The New Zealand dollar was little changed against the greenback ahead of tonight's dairy auction and held onto its gains versus the euro amid political uncertainty in Germany. More >>
First NZ Capital eyes wider product offering
Tuesday, 21 November 2017, 11:47 am | BusinessDesk
Nov. 21 (BusinessDesk) - First NZ Capital will test the waters with customers about what products it should be offering with its new foray into direct wealth, says chief executive James Lee. More >>
While you were sleeping: Wall Street moves higher
Tuesday, 21 November 2017, 10:09 am | BusinessDesk
Nov. 21 (BusinessDesk) - Wall Street climbed amid optimism that the outlook for corporate profits and economic growth justify valuations as the Trump administration aims to move ahead on its tax reform plans. More >>
MARKET CLOSE: NZ shares up, Metro Glass gains on 1H results
Monday, 20 November 2017, 8:35 pm | BusinessDesk
MARKET CLOSE: NZ shares up, Metro Glass gains on 1H results and Kathmandu, Fisher & Paykel gain ahead of earnings More >>
Dollar gains vs euro after German coalition talks break down
Monday, 20 November 2017, 8:35 pm | BusinessDesk
Nov. 20 (BusinessDesk) - The New Zealand dollar gained against the euro after German coalition talks broke down, raising concerns about Chancellor Angela Merkel's political future and the ramifications on the wider regional economy. More >>
UPDATE: MetroGlass says it could have communicated better
Monday, 20 November 2017, 8:34 pm | BusinessDesk
Nov. 20 (BusinessDesk) - Metro Performance Glass, whose shares have tumbled 57 percent in the past 12 months, says it could have communicated better as sales growth slowed and its full-year guidance is conservative as befits a stock that has fallen out ... More >>
NZME should pay no cash if Fairfax media merger allowed
Monday, 20 November 2017, 8:32 pm | BusinessDesk
Nov. 20 (BusinessDesk) - NZME should no longer pay Fairfax Media $55 million as part of the proposed merger between the two news publishing groups if the courts clear the way for the union to go ahead, says broking firm First NZ Capital. More >>
Motor Trade Finance braces for auto industry disruption
Monday, 20 November 2017, 6:02 pm | BusinessDesk
Nov. 20 (BusinessDesk) - Motor Trade Finance's underlying annual earnings dropped 7.6 percent, despite increasing both sales and its market share, and the lender says it's adapting its brand to face upcoming change in the vehicle market. More >>
First NZ Capital to buy ANZ's DIrect Broking
Monday, 20 November 2017, 6:00 pm | BusinessDesk
Nov. 20 (BusinessDesk) - First NZ Capital has agreed to buy ANZ Bank New Zealand's online trading platform for an undisclosed sum as the broking firm expands into the direct wealth market. More >>
NZ food prices ease 0.1% on month in October
Monday, 20 November 2017, 2:48 pm | BusinessDesk
Nov. 20 (BusinessDesk) - New Zealand food prices eased in October as fruit and vegetables came into season and some dairy products were in for heavy discounting at grocery stores. More >>
Red Stag Timber takes Juken NZ to court
Monday, 20 November 2017, 2:44 pm | BusinessDesk
Nov. 20 (BusinessDesk) - Red Stag Timber, New Zealand's largest sawmill operator, is taking legal action against its Japanese-owned rival Juken New Zealand, alleging Juken mislabelled its engineered laminated veneer lumber product J-Frame. More >>
