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BusinessDesk - Latest News [Page 326]

UPDATE: RBNZ's Spencer keeps rates on hold

Thursday, 9 November 2017, 1:09 pm | BusinessDesk

Nov. 9 (BusinessDesk) - Acting Reserve Bank governor Grant Spencer kept the official cash rate unchanged at 1.75 percent but brought forward a potential rate hike to June 2019 from September that year and lifted the inflation forecasts to factor in ... More >>

Warehouse 1Q sales drop 1.7%

Thursday, 9 November 2017, 12:42 pm | BusinessDesk

Nov. 9 (BusinessDesk) - Warehouse Group's first quarter sales were weaker than the year-earlier period after the retailer changed the pricing strategy at its flagship 'red shed' discount department stores to "everyday low pricing". More >>

Xero plans shift to ASX as it narrows first-half net loss

Thursday, 9 November 2017, 12:41 pm | BusinessDesk

Nov. 9 (BusinessDesk) - Xero narrowed its first-half loss and posted positive pretax earnings for the first time, while announcing it will delist from the NZX in favour of the ASX in February next year. More >>

Z first-half profit climbs 10%

Thursday, 9 November 2017, 12:26 pm | BusinessDesk

Nov. 9 (BusinessDesk) - Z Energy lifted first-half profit 10 percent as the acquisition of Chevron New Zealand's retail network swelled sales, even as retail margins shrank from what the transport fuels company described as the top of the cycle. More >>

RBNZ's Spencer keeps rates on hold

Thursday, 9 November 2017, 12:25 pm | BusinessDesk

NZ dollar edges up before OCR review

Thursday, 9 November 2017, 11:32 am | BusinessDesk

Nov. 9 (BusinessDesk) - The New Zealand dollar edged up ahead of this morning's monetary policy statement which may include a stronger track for inflation and a weaker currency. More >>

MARKET CLOSE: NZ shares mixed, Synlait and A2 weaker

Wednesday, 8 November 2017, 8:33 pm | BusinessDesk

Nov. 8 (BusinessDesk) - New Zealand shares were mixed, with Synlait and A2 Milk dropping while Mercury New Zealand and Trustpower rose. More >>

NZ dollar little changed ahead of MPS

Wednesday, 8 November 2017, 8:16 pm | BusinessDesk

Nov. 8 (BusinessDesk) - The New Zealand dollar was little changed ahead of the central bank monetary policy review tomorrow, despite some economists warning the market may be taken by surprise. More >>

TSB boss Kevin Murphy to depart in January

Wednesday, 8 November 2017, 8:14 pm | BusinessDesk

Nov. 8 (BusinessDesk) - TSB Bank chief executive Kevin Murphy will leave the New Plymouth-based, community-owned lender at the end of January after nearly a decade in charge of New Zealand's sixth-biggest lender. More >>

NZ Super Fund used Appleby law firm

Wednesday, 8 November 2017, 8:13 pm | BusinessDesk

Nov. 8 (BusinessDesk) - The New Zealand Superannuation Fund has used the Bermuda-based law firm Appleby at the centre of the 'Paradise Papers' tax papers. More >>

Vector plans to sell block of 4.2 mln shares on market

Wednesday, 8 November 2017, 8:12 pm | BusinessDesk

Nov. 8 (BusinessDesk) - Vector is planning to sell 4.2 million of its own shares it currently holds as treasury stock beginning Nov. 9 as part of ongoing capital management. More >>

Chitogel inks heads of agreement with big pharma

Wednesday, 8 November 2017, 5:23 pm | BusinessDesk

Nov. 8 (BusinessDesk) - New Zealand medical science company Chitogel has signed a heads of agreement with a US-based pharmaceutical multinational after getting greenlit by the US Food and Drug Administration for its wound-healing gel. More >>

Trustpower's bundle strategy slowing margin decline

Wednesday, 8 November 2017, 5:18 pm | BusinessDesk

Nov. 8 (BusinessDesk) - Trustpower's bundled power and telecommunication package has successfully slowed a squeeze on profit margins, something facing the entire sector, says First NZ Capital. More >>

Rural Equities eyes investment outside of NZ rural property

Wednesday, 8 November 2017, 5:16 pm | BusinessDesk

Nov. 8 (BusinessDesk) - Rural Equities, the farming group majority-owned by the Cushing family, is eyeing investments outside New Zealand rural property where it sees an “uncertain” future. More >>

CORRECT: Air NZ shares still over-priced

Wednesday, 8 November 2017, 3:40 pm | BusinessDesk

Nov. 8 (BusinessDesk) - Air New Zealand shares are trading higher than what First NZ Capital reckons is fair value, and while the national carrier has a number of tailwinds, the research house sees some clouds on the horizon for the airline's earnings. More >>

Air NZ shares still over-priced : FNZC

Wednesday, 8 November 2017, 3:05 pm | BusinessDesk

Airwork to delist next week after Zhejiang Rifa takeover

Wednesday, 8 November 2017, 3:04 pm | BusinessDesk

Nov. 8 (BusinessDesk) - Airwork Holdings will quit the NZX main board on Nov. 15 now that Rifa Jair Company, a unit of China's Zhejiang Rifa Holding, has exercised its compulsory acquisition rights in full takeover over the aviation services firm. More >>