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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 452]
NZ shares gain with Metlifecare
Wednesday, 1 March 2017, 3:41 am | BusinessDesk
Feb. 28 (BusinessDesk) - New Zealand shares rose, led by Metlifecare and Chorus, while NZ Refining and Genesis Energy dropped after reporting earnings and Intueri Education Group sank 25 percent on confirmation of loss of its Australian status. More >>
Up to $230M in earn-outs available to Compac vendors
Wednesday, 1 March 2017, 3:34 am | BusinessDesk
Feb. 28 (BusinessDesk) - The New Zealand founders and former shareholders of the Compac fruit sorting company are in line for up to $230 million in earn-out payments on top of the $70 million paid for the company by the Norwegian food, recycling and ... More >>
Up to $300M in earn-outs available to Compac vendors
Wednesday, 1 March 2017, 12:40 am | BusinessDesk
Feb. 28 (BusinessDesk) - The New Zealand founders and former shareholders of the Compac fruit sorting company are in line for up to $230 million in earn-out payments on top of the $70 million paid for the company by the Norwegian food, recycling and ... More >>
NZ business confidence slips in February
Tuesday, 28 February 2017, 4:36 pm | BusinessDesk
Feb. 28 (BusinessDesk) - New Zealand business confidence slipped in February while remaining relatively optimistic, as the country's pace of economic growth starts hitting a "mature stage" where it becomes harder to keep hitting new highs. More >>
Court of Appeal backs pilots on runway extension safety
Tuesday, 28 February 2017, 4:19 pm | BusinessDesk
Feb. 28 (BusinessDesk) - The future of Wellington International Airport's proposed runway extension is unclear after the Court of Appeal ruled the Civil Aviation Authority (CAA) must reconsider its decision on the length of a runway safety area. More >>
NZ trade deficit widens to $285m in January
Tuesday, 28 February 2017, 2:52 pm | BusinessDesk
Feb. 28 (BusinessDesk) - New Zealand widened to a $285 million trade deficit in January with imports rising to a record for the month, led by crude oil. More >>
Veritas to book Nosh losses in annual accounts
Tuesday, 28 February 2017, 1:56 pm | BusinessDesk
Feb. 28 (BusinessDesk) - Veritas Investments will book after-tax losses of between $2.2 million and $2.6 million on the sale of its upmarket Nosh supermarkets in its annual accounts, which it anticipates will bolster underlying earnings for the year, ... More >>
Scales lifts 2016 annual profit 6% on business expansion
Tuesday, 28 February 2017, 1:48 pm | BusinessDesk
Feb. 28 (BusinessDesk) - Scales Corp, New Zealand's biggest apple exporter, boosted profit 6 percent as it benefited from expanding its business. More >>
NZ Refining annual profit drops 69% from a record year
Tuesday, 28 February 2017, 1:34 pm | BusinessDesk
NZ Refining annual profit drops 69% from a record year with margins weaker in 2016 More >>
Intueri's Australian colleges lose registration
Tuesday, 28 February 2017, 12:41 pm | BusinessDesk
Feb. 28 (BusinessDesk) - Intueri Education Group, the ailing private training provider, will lose its Australian registration in late March, earlier than its planned exit by the end of the year. More >>
FIRST CUT: Genesis Energy first-half earnings fall 11%
Tuesday, 28 February 2017, 12:37 pm | BusinessDesk
Feb. 28 (BusinessDesk) - Genesis Energy, the country's biggest electricity retailer, posted an 11 percent decline in first-half earnings as cheap oil and a wet spring kept wholesale prices low, offsetting better margins on the retail side of the business. More >>
NZ dollar little changed as Trump, Yellen awaited
Tuesday, 28 February 2017, 11:45 am | BusinessDesk
Feb. 28 (BusinessDesk) - The New Zealand dollar remained in a tight trading range as financial markets await a key policy address by US President Donald Trump and a speech by Federal Reserve chair Janet Yellen at the end of the week. Locally, trade ... More >>
Metlifecare's Sowry: 'little bit of softening' in property
Tuesday, 28 February 2017, 11:13 am | BusinessDesk
Metlifecare's Sowry sees 'little bit of softening' in property market, no let-up on costs More >>
Crown argues it has power to revoke conservation status
Tuesday, 28 February 2017, 8:16 am | BusinessDesk
Feb. 27 (BusinessDesk) - The Minister of Conservation has the right to revoke the status of land in the conservation estate, the Crown argues in a Supreme Court challenge to a ruling that's holding up a Hawke's Bay irrigation scheme allowing more intensive ... More >>
Marsden Maritime lifts first-half profit 21%
Tuesday, 28 February 2017, 8:13 am | BusinessDesk
Feb. 27 (BusinessDesk) - Marsden Maritime, which owns half of the Marsden Point-based Northport along with a marina, commercial facilities and land, lifted first-half profit 21 percent on increased cargo volumes going through the port. More >>
Carter Holt Harvey draws councils into leaky school claim
Tuesday, 28 February 2017, 8:11 am | BusinessDesk
Feb. 27 (BusinessDesk) - Carter Holt Harvey has dragged 47 local body governments into its leaky schools court case after losing a bid to have the Ministry of Education's claim tossed out. More >>
New Zealand dollar gains against Sterling
Tuesday, 28 February 2017, 8:09 am | BusinessDesk
Feb. 27 (BusinessDesk) - The New Zealand dollar gained against the British pound after media reports that the Scottish government is seriously considering an independence vote but remained steady against the greenback ahead of US President Donald Trump’s ... More >>
MARKET CLOSE: NZ shares gain on Metlifecare result
Tuesday, 28 February 2017, 8:07 am | BusinessDesk
Feb. 27 (BusinessDesk) - New Zealand shares rose after Metlifecare posted a 31 percent jump in first-half profit and said people were queuing up to enter its retirement villages. Summerset Group also rose while Ryman Healthcare and Fletcher Building ... More >>
While you were sleeping: Records before Trump speech
Tuesday, 28 February 2017, 7:53 am | BusinessDesk
Feb. 28 (BusinessDesk) - Wall Street seesawed, with the Dow and S&P 500 touching record highs earlier in the session, as investors geared up for US President Donald Trump’s address to Congress on Tuesday, which might offer more details on tax promises ... More >>
Mercer narrows first-half loss, predicts stronger 2H
Monday, 27 February 2017, 4:39 pm | BusinessDesk
Feb. 27 (BusinessDesk) - Mercer Group, the stainless steel fabricator, posted a $2.6 million loss in the first half, but said it's anticipating a return to positive pre-tax earnings for the second half despite the "disappointing" start. More >>
