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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 414]
First NZ trims Fletcher earnings forecasts
Thursday, 18 May 2017, 3:02 pm | BusinessDesk
May 18 (BusinessDesk) - First NZ Capital trimmed its earnings forecasts for Fletcher Building's 2018 and 2019 financial years but retained an 'outperform' rating on the stock and held the 12-month target price steady at $9.80. More >>
Pushpay annual loss widens as it invests to drive US growth
Thursday, 18 May 2017, 2:54 pm | BusinessDesk
May 18 (BusinessDesk) - Pushpay Holdings, whose mobile payment app allows churches to raise money from parishioners, posted a wider annual loss as it invests for future growth. It reiterated its financial targets for this year. More >>
Rakon full-year loss widens
Thursday, 18 May 2017, 1:38 pm | BusinessDesk
May 18 (BusinessDesk) - Rakon posted a wider full-year loss after sales fell 16 percent and the company recognised an impairment against its Centrum Rakon India joint venture. More >>
Sky TV, Vodafone detail appeal on merger decision
Thursday, 18 May 2017, 1:36 pm | BusinessDesk
May 18 (BusinessDesk) - Sky Network Television and Vodafone New Zealand have detailed their appeal against the Commerce Commission's decision blocking their merger, arguing the regulator was mistaken to find the combined group would substantially lessen ... More >>
Goodman Property reports 9% decline in full-year profit
Thursday, 18 May 2017, 1:10 pm | BusinessDesk
May 18 (BusinessDesk) - Goodman Property Trust, the NZX-listed commercial and industrial property investor, reported a 9 percent decline in full-year net profit on a deferred tax payment and lower investment property revaluations and was slightly less upbeat ... More >>
NZ Oil & Gas buys back into Kupe at lower price
Thursday, 18 May 2017, 12:37 pm | BusinessDesk
May 18 (BusinessDesk) - New Zealand Oil & Gas has bought back into the Kupe oil and gas field at a lower price than it sold to Genesis Energy just months ago when it took advantage of Genesis's appetite for natural gas assets to augment its LPG strategy. More >>
Infratil annual earnings pip past guidance
Thursday, 18 May 2017, 12:36 pm | BusinessDesk
May 18 (BusinessDesk) - Infratil beat annual earnings guidance after its recently demerged hydro and wind energy investments - Trustpower and Tilt Renewables - got a late tailwind from mother nature. More >>
Questions over Trump's fiscal policy weigh on US rate outlook
Thursday, 18 May 2017, 11:52 am | BusinessDesk
May 18 (BusinessDesk) - The New Zealand dollar gained on speculation there will be less need to raise interest rates in the US because the Trump administration is too distracted by imbroglios such as the firing of the Federal Bureau of Investigation ... More >>
While you were sleeping: Wall St sinks on Trump
Thursday, 18 May 2017, 10:01 am | BusinessDesk
May 18 (BusinessDesk) - US Treasuries gained, while Wall Street and the greenback fell, amid concern that the political firestorm surrounding President Donald Trump means he won’t be able to deliver on his plans for tax and regulation cuts. More >>
MARKET CLOSE: NZ shares rise, bolstered by F&P Healthcare
Wednesday, 17 May 2017, 9:45 pm | BusinessDesk
May 17 (BusinessDesk) - New Zealand shares rose, boosted by news that health appliance firm ResMed dropped a complaint against Fisher & Paykel Healthcare at the US International Trade Commission and offsetting largely tepid trading as weak international ... More >>
NZ dollar may extend decline vs euro
Wednesday, 17 May 2017, 9:44 pm | BusinessDesk
May 17 (BusinessDesk) - The New Zealand dollar may extend its decline against the euro and other cross-rate currencies on concern the carry trade - where investors borrow at low interest rates to buy higher-yielding assets - will be eroded by US ... More >>
More working solo parents trims long-term welfare cost
Wednesday, 17 May 2017, 9:43 pm | BusinessDesk
May 17 (BusinessDesk) - An increase in the number of sole parents shifting into work from a benefit is behind the bulk of a $1.7 billion reduction in the theoretical long-term cost of New Zealand's welfare bill, the latest actuarial valuation shows. More >>
Zespri reaps benefits of dairy primary growth partnership
Wednesday, 17 May 2017, 9:42 pm | BusinessDesk
May 17 (BusinessDesk) - The government's primary growth partnership geared toward driving change in the dairy sector had an unlikely partner: kiwifruit export marketing body Zespri International. More >>
Fairton plant to close as Silver Fern downsizes capacity
Wednesday, 17 May 2017, 9:41 pm | BusinessDesk
Fairton plant to close as Silver Fern downsizes capacity to keep pace with falling sheep numbers More >>
2degrees' seven year slog delivers maiden $13.4M profit
Wednesday, 17 May 2017, 4:11 pm | BusinessDesk
May 17 (BusinessDesk) - Challenger telecommunications provider Two Degrees Mobile has produced its first net profit since launching in the New Zealand market in August 2009, while raising its operating earnings by 43 percent for the second year in a ... More >>
Wheeler succeeds in rolling back market rate hike bets
Wednesday, 17 May 2017, 3:53 pm | BusinessDesk
May 17 (BusinessDesk) - Reserve Bank governor Graeme Wheeler has prompted financial market traders to push back their bets for an interest rate hike by about three months with last week's dovish monetary policy statement but there is scepticism among economists ... More >>
Heartland shares gain as 9-mth profit rises 13%
Wednesday, 17 May 2017, 3:01 pm | BusinessDesk
May 17 (BusinessDesk) - Heartland Bank shares rose 2.3 percent after the NZX-listed lender said profit rose 13 percent in the first nine months of its year on an expanding loan book and affirmed guidance for annual earnings growth More >>
ResMed amends US trade complaint against F&P Healthcare
Wednesday, 17 May 2017, 2:45 pm | BusinessDesk
May 17 (BusinessDesk) - ResMed has withdrawn its complaint against Fisher & Paykel Healthcare in the US International Trade Commission but plans to replace it with a new action and is still pursuing its patent dispute with the New Zealand maker ... More >>
Dairy products drive 1.4% gain in NZ producer output prices
Wednesday, 17 May 2017, 2:43 pm | BusinessDesk
May 17 (BusinessDesk) - New Zealand producer output prices rose in the first quarter, led by dairy product manufacturing, while inputs were led higher by petroleum and coal. More >>
NZ dollar falls to 11-month low vs euro
Wednesday, 17 May 2017, 11:49 am | BusinessDesk
May 17 (BusinessDesk) - The New Zealand dollar fell to the lowest level in about 11 months against the euro as steady economic growth and improving investor confidence in the economic bloc saw its currency strengthen against the greenback. More >>
