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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 362]
Chorus doubles down on fixed network as outlook dims
Monday, 28 August 2017, 4:17 pm | BusinessDesk
Aug. 28 (BusinessDesk) - Chorus is beefing up its defence of fixed line telecommunications as the country's premier technology as Spark New Zealand's dwindling reliance on the copper lines feeds into the network operator's cloudier outlook. More >>
Restaurant Brands buys 10 KFC stores in NSW
Monday, 28 August 2017, 3:43 pm | BusinessDesk
Aug. 28 (BusinessDesk) - Restaurant Brands New Zealand has extended its KFC footprint across the Tasman, buying 10 stores from Yum! Restaurants International for A$27.5 million. More >>
John Benton extends wine-making reach
Monday, 28 August 2017, 1:53 pm | BusinessDesk
Aug. 28 (BusinessDesk) - Wellington businessman John Benton has taken a strategic stake in Pask Winery, buying shares from founder Chris Pask and Philippa Radburnd and adding to the Jackson Estate winery he acquired in 2013. More >>
Metlifecare FY profit up 10%
Monday, 28 August 2017, 1:35 pm | BusinessDesk
Aug. 28 (BusinessDesk) - Retirement village operator Metlifecare reported a 10 percent increase in full-year profit on the back of resale gains and wider development margins and said it isn't yet seeing any impact from a slowdown in New Zealand's housing ... More >>
Chorus annual profit climbs 24%
Monday, 28 August 2017, 1:10 pm | BusinessDesk
Aug. 28 (BusinessDesk) - Chorus lifted annual profit 24 percent after cutting costs and change the way it capitalises some labour costs, making up for a decline in connection numbers that's been driven by the network operator's biggest customer, Spark New ... More >>
Methven posts 25% drop in annual profit
Monday, 28 August 2017, 12:46 pm | BusinessDesk
Aug. 28 (BusinessDesk) - Methven said annual profit fell by almost a quarter in a "very disappointing year" but expects 2018 to deliver 10 percent profit growth as the shower and tapware designer starts a new business plan. More >>
NZ dollar drops to 15-month low vs euro
Monday, 28 August 2017, 11:37 am | BusinessDesk
Aug. 28 (BusinessDesk) - The New Zealand dollar fell to a 15-month low against the euro after European Central Bank president Mario Draghi failed to mention the currency's strength in a speech at Jackson Hole as some market commentators had predicted while ... More >>
World Week Ahead: US tax reform, jobs
Monday, 28 August 2017, 10:13 am | BusinessDesk
Aug. 28 (BusinessDesk) - The Trump administration’s tax reform plans and the latest US jobs data are expected to top the agenda this week as second-quarter earnings season fades away. More >>
Wellington Drive creeps closer to the black as sales climb
Friday, 25 August 2017, 8:35 pm | BusinessDesk
Aug. 25 (BusinessDesk) - Wellington Drive Technologies edged closer to a long-awaited profitability as first half sales climbed and margins improved, although the board sounded a warning over cash constraints coming when there could be opportunities ... More >>
MARKET CLOSE: NZ shares down, Metro Glass at record low
Friday, 25 August 2017, 8:33 pm | BusinessDesk
Aug. 25 (BusinessDesk) - New Zealand shares fell, with Metro Performance Glass dropping to a record low while A2 Milk Co and Comvita rose on continued optimism following their earnings. More >>
Commerce Commission files civil proceedings against Harmoney
Friday, 25 August 2017, 8:19 pm | BusinessDesk
Aug. 25 (BusinessDesk) - The Commerce Commission has filed civil proceedings against Harmoney Corp, claiming the peer-to-peer lender's platform fees are unreasonable. More >>
NZ dollar heading for 1.5% weekly decline; eyes on Jackson
Friday, 25 August 2017, 8:09 pm | BusinessDesk
Aug. 25 (BusinessDesk) - The New Zealand dollar was headed for a weekly drop of 1.5 percent after weaker forecasts for economic growth and budget surpluses from Treasury and ahead of headlines out of the central banker's symposium in Jackson Hole. More >>
Marsden Maritime annual profit slips 17%
Friday, 25 August 2017, 7:29 pm | BusinessDesk
Aug. 25 (BusinessDesk) - Marsden Maritime Holdings, which owns half of the Marsden Point-based Northport, reported a 17 percent drop in annual profit as it reaped smaller gains on the value of its investment properties and marina operations. More >>
CORRECT: KiwiRail's net loss widens
Friday, 25 August 2017, 6:36 pm | BusinessDesk
Aug. 25 (BusinessDesk) - KiwiRail, the state-owned rail and freight operator, said its full year net loss widened while the operating surplus sank by almost a third due to the impact of the Kaikoura earthquake in November. More >>
KiwiRail's net loss widens and operating surplus falls
Friday, 25 August 2017, 5:49 pm | BusinessDesk
Aug. 25 (BusinessDesk) - KiwiRail, the state-owned rail and freight operator, said its full year net loss widened while the operating surplus sank by almost a third due to the impact of the Kaikoura earthquake in November. More >>
Wellington Drive creeps closer to the black as sales climb
Friday, 25 August 2017, 3:58 pm | BusinessDesk
Aug. 25 (BusinessDesk) - Wellington Drive Technologies edged closer to a long-awaited profitability as first half sales climbed and margins improved, although the board sounded a warning over cash constraints coming when there could be opportunities ... More >>
Port of Tauranga achieves record volumes
Friday, 25 August 2017, 3:20 pm | BusinessDesk
Aug. 25 (BusinessDesk) - Port of Tauranga has transformed itself into Australasia's most efficient port and broken records for cargo volumes but analysts struggle to put a 'buy' recommendation on its shares. More >>
New NPT board plans to keep annual dividend steady
Friday, 25 August 2017, 3:10 pm | BusinessDesk
Aug. 25 (BusinessDesk) - NPT's newly installed board confirmed plans to keep the property investor's dividend unchanged this financial year as it works through changes at the company. More >>
NZ wool market improves at weekly auction
Friday, 25 August 2017, 3:07 pm | BusinessDesk
Aug. 25 (BusinessDesk) - New Zealand wool prices and sale clearance rates continued to improve at the latest weekly auction, as buying interest picked up from China, the largest buyer of the fibre. More >>
Seeka first-half profit climbs 56%
Friday, 25 August 2017, 2:46 pm | BusinessDesk
Aug. 25 (BusinessDesk) - Seeka lifted first-half profit 56 percent as the biggest kiwifruit grower in Australasia enjoyed wider margins across the Tasman, but it still expects a smaller crop will see a decline in annual earnings. More >>
