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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 408]
Tiwai Point smelter profit more than halves in 2016
Tuesday, 30 May 2017, 7:29 pm | BusinessDesk
May 30 (BusinessDesk) - Weak global aluminium prices saw underlying profit more than halve to $24 million in 2016 at Pacific Aluminium's Tiwai Point aluminium smelter. More >>
Stride Property beats forecast with annual profit
Tuesday, 30 May 2017, 7:27 pm | BusinessDesk
May 30 (BusinessDesk) - Stride Property Group, which spun out its retail portfolio into a separately listed vehicle last July, reported annual profit ahead of its forecasts with a huge increase in property valuations. More >>
Auckland University gets share of $215M investment deal
Tuesday, 30 May 2017, 7:25 pm | BusinessDesk
May 30 (BusinessDesk) - Auckland University's commercialisation company UniServices has inked a deal that could increase the number of companies spun out of the university’s research and development activities. More >>
MediaWorks confident of sorting out TV problem child
Tuesday, 30 May 2017, 7:23 pm | BusinessDesk
May 30 (BusinessDesk) - MediaWorks Investments, the free-to-air broadcaster owned by private equity firm Oaktree Capital, is confident a new strategy will turn around its television business after a poor performance in 2016 drove the bottom line into ... More >>
Summerset Group to sell $100m of six-year retail bonds
Tuesday, 30 May 2017, 4:57 pm | BusinessDesk
May 30 (BusinessDesk) - Summerset Group announced a retail bond offer of $75 million with the ability to accept up to $25 million in over-subscriptions. More >>
RBNZ affirms view kiwibank convertible bonds view
Tuesday, 30 May 2017, 3:22 pm | BusinessDesk
May 30 (BusinessDesk) - The Reserve Bank has affirmed its view in March that two bonds issued by state-owned Kiwibank don't qualify as regulatory capital under the Capital Adequacy Framework. More >>
NZ residential building consents fall 7.6% in April
Tuesday, 30 May 2017, 2:40 pm | BusinessDesk
May 30 (BusinessDesk) - New Zealand residential building consents dropped 7.6 percent in April, as the Easter holiday period reduced the number of days that councils processed applications. More >>
Augusta Capital annual profit drops 42%
Tuesday, 30 May 2017, 2:12 pm | BusinessDesk
May 30 (BusinessDesk) - Augusta Capital posted a 42 percent drop in annual profit after a reduction in its directly held property portfolio led to it having a smaller increase in the value of its investment properties. More >>
Moa Group narrows its FY17 loss as revenue continues to lift
Tuesday, 30 May 2017, 2:11 pm | BusinessDesk
May 30 (BusinessDesk) - Moa Group, the Marlborough-based brewer, reported a slightly narrower full year net loss as revenue lifted 26 percent and gross margin improve More >>
Orion to raise $32.9M in rights offer
Tuesday, 30 May 2017, 2:10 pm | BusinessDesk
May 30 (BusinessDesk) - Orion Health is to raise $32.9 million in a discounted two-for-nine rights issue to shore up working capital after posting a full-year loss that reflected weaker Europe, Middle East and Africa sales. It expects to be profitable in 2018 ... More >>
IkeGPS widens annual loss
Tuesday, 30 May 2017, 1:37 pm | BusinessDesk
May 30 (BusinessDesk) - IkeGPS, the laser measurement toolmaker, widened its annual loss after a "difficult first half", but expects growth and cash breakeven in 2018. More >>
ERoad reports wider FY17 net loss
Tuesday, 30 May 2017, 12:54 pm | BusinessDesk
May 30 (BusinessDesk) - ERoad reported a wider net loss in the 2017 financial year driven by US investment and changes to the way it amortises development costs, although the result was slightly ahead of its forecast. More >>
Mainfreight FY profit rises 16%
Tuesday, 30 May 2017, 12:52 pm | BusinessDesk
May 30 (BusinessDesk) - Mainfreight, the transport and logistics group, posted a 16 percent gain in full-year profit, which exceeded $100 million for the first time, led by earnings growth in New Zealand and Australia. More >>
Synlait forecasts new season payout at $6.50kg/MS
Tuesday, 30 May 2017, 12:10 pm | BusinessDesk
May 30 (BusinessDesk) - Synlait Milk has forecast a payout for the 2017/18 season of $6.50 per kilogram of milksolids, matching Fonterra Cooperative Group, while separately announcing the $33.2 million purchase of the Auckland-based milk powder canning operations ... More >>
NZ dollar falls from 3-week high vs euro
Tuesday, 30 May 2017, 11:42 am | BusinessDesk
May 30 (BusinessDesk) - The New Zealand dollar touched a three-week high against the euro overnight, before retreating, after European Central Bank President Mario Draghi said the regional economic bloc still requires stimulus even as it shows signs ... More >>
While you were sleeping: Draghi to stick with QE
Tuesday, 30 May 2017, 11:07 am | BusinessDesk
May 30 (BusinessDesk) - As Wall Street was closed for a holiday, equities in Europe were mixed as European Central Bank President Mario Draghi signalled that the quantitative easing program was here to stay for now More >>
NZ dollar gains vs Aussie as kiwi comes back into favour
Monday, 29 May 2017, 8:50 pm | BusinessDesk
May 29 (BusinessDesk) - The New Zealand dollar rose against its Australian counterpart on speculation that a relatively stronger domestic economy and lack of exposure to international commodity prices such as iron ore favour the kiwi over the Aussie. More >>
Businesses over-egg the power of corporate tax cuts
Monday, 29 May 2017, 8:49 pm | BusinessDesk
May 29 (BusinessDesk) - Cutting New Zealand's 28 percent corporate tax rate is "not a panacea in the way business groups sometimes market it," says Prime Minister Bill English. More >>
Alternative infrastructure financing talks making headway
Monday, 29 May 2017, 8:47 pm | BusinessDesk
May 29 (BusinessDesk) - Efforts to find new ways for local and central government to fund the new infrastructure required to allow new housing developments to occur are progressing after "intensive negotiations" with local government in ... More >>
MARKET CLOSE: NZ shares fall in light holiday trading
Monday, 29 May 2017, 8:46 pm | BusinessDesk
May 29 (BusinessDesk) - New Zealand shares fell in quiet holiday trading as dual-listed banking stocks Australia and New Zealand Banking Group and Westpac Banking Corp weighed on the local market, while positive earnings spurred some buying interest in stocks ... More >>
