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BusinessDesk - Latest News [Page 381]

UPDATE: Tower shares driven low after Vero merger rejection

Wednesday, 26 July 2017, 1:15 pm | BusinessDesk

Shares in general insurer Tower took a pounding at the opening of trading on the NZX this morning, falling 29 percent to 90 cents after the Commerce Commission rejected a merger application at $1.40 a share from rival insurer Vero. More >>

Abano beats FY profit forecasts

Wednesday, 26 July 2017, 12:40 pm | BusinessDesk

July 26 (BusinessDesk) - Abano Healthcare, Australasia's second-largest dental group, beat its forecast for annual profit and announced plans to raise $35 million to accelerate its growth. More >>

NZ's neutral interest rate now below 4 percent says RBNZ

Wednesday, 26 July 2017, 12:30 pm | BusinessDesk

July 26 (BusinessDesk) - New Zealand's neutral interest rate has fallen below 4 percent and a lower New Zealand dollar would help rebalance growth and lower the nation's net foreign liabilities, said Reserve Bank assistant governor John McDermott in a ... More >>

SkyCity takes A$95M charge against Darwin casino

Wednesday, 26 July 2017, 12:28 pm | BusinessDesk

July 26 (BusinessDesk) - SkyCity Entertainment Group will write off all the goodwill in its Darwin casino complex with an A$95 million impairment, saying increased competition for gaming machines in the Northern Territory hurt revenue and earnings. More >>

NZX CFO Bevan Miller resigns, heads to Cooperative Bank

Wednesday, 26 July 2017, 12:25 pm | BusinessDesk

July 26 (BusinessDesk) - NZX chief financial officer Bevan Miller will leave the market operator in October to take up the same role at Cooperative Bank. More >>

Fuji Xerox Suspends NZ Govt Contracts as MBIE Investigates

Wednesday, 26 July 2017, 12:19 pm | BusinessDesk

July 26 (BusinessDesk) - Fuji Xerox New Zealand is to suspend all three of its all-of-government contracts with New Zealand government agencies as the Ministry of Business, Innovation, and Employment waits to read the full report on irregular accounting practices at ... More >>

NZ Dollar Falls as US Healthcare Reform Proceeds

Wednesday, 26 July 2017, 12:17 pm | BusinessDesk

July 26 (BusinessDesk) - The New Zealand dollar fell after the US Senate narrowly voted to proceed with healthcare reform, stoking optimism about the Trump administration's policy programme while at home the Reserve Bank said the 'neutral' level for its ... More >>

ComCom Declines Vero/Tower Merger

Wednesday, 26 July 2017, 12:14 pm | BusinessDesk

The Commerce Commission is signalling a high tide mark for mergers in the general insurance market, turning down an application by the second and third largest providers of house, contents and vehicle cover, Vero New Zealand and Tower. More >>

While you were sleeping: Caterpillar upgrades outlook

Wednesday, 26 July 2017, 11:11 am | BusinessDesk

July 26 (BusinessDesk) - Wall Street moved higher, pushing the S&P 500 and the Nasdaq to fresh record highs, amid better-than-expected corporate earnings including from Caterpillar. More >>

MARKET CLOSE: NZ shares mixed; beat-up Fletcher rises

Tuesday, 25 July 2017, 8:55 pm | BusinessDesk

July 25 (BusinessDesk) - New Zealand shares were mixed, with Fletcher Building and A2 Milk Co gaining while Sky Network Television and Bethunes Investments dropped. More >>

Kiwi a tad higher vs greenback

Tuesday, 25 July 2017, 8:18 pm | BusinessDesk

July 25 (BusinessDesk) - The New Zealand dollar dipped after the Ministry for Primary Industries said a cattle disease had been detected in a dairy herd in South Canterbury but swiftly pared its losses on the back of a weaker USD ahead of the US Federal ... More >>

Trans Tasman Resources iron sand decision pushed back to Aug

Tuesday, 25 July 2017, 8:10 pm | BusinessDesk

July 25 (BusinessDesk) - The decision making committee which will determine whether Trans Tasman Resources gets a green light to mine iron sands from the ocean floor in New Zealand's Exclusive Economic Zone has indicated it requires an additional ... More >>

Argosy affirms plan to lift full-year dividend

Tuesday, 25 July 2017, 8:08 pm | BusinessDesk

July 25 (BusinessDesk) - Argosy Property told its annual general meeting it is on track to deliver a 2018 full-year dividend of 6.2 cents per share, fully paid from distributable income. More >>

Investigation into cow infection on South Canterbury farm

Tuesday, 25 July 2017, 5:18 pm | BusinessDesk

July 25 (BusinessDesk) - The Ministry for Primary Industries says the cattle disease mycoplasma bovis has been detected in a dairy herd in South Canterbury, the first known outbreak in New Zealand. More >>

RESEND: Insurance, especially travel, dominates complaints

Tuesday, 25 July 2017, 4:25 pm | BusinessDesk

July 25 (BusinessDesk) - Insurance, especially for travel, remains the largest category of complaints investigated by Financial Services Complaints Limited (FSCL),a not-for-profit external dispute resolution scheme for financial service providers and their clients. More >>

Electric vehicle owners not experiencing range anxiety

Tuesday, 25 July 2017, 3:05 pm | BusinessDesk

July 25 (BusinessDesk) - Most electric vehicle owners are unfazed by the prospect of getting stranded with a flat battery, according to a poll by Flip the Fleet, a member group of 238 EV drivers from all across New Zealand. More >>

LIC selling Deer Improvement unit to concentrate on dairy

Tuesday, 25 July 2017, 2:29 pm | BusinessDesk

July 25 (BusinessDesk) - Livestock Improvement Corp, the farmer-owned cooperative that focuses on herd genetics, farm software and automation is selling its Deer Improvement subsidiary business in order to concentrate on its dairy business and reinvest funds ... More >>