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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 455]
Transpower lifts 1H profit on higher transmission revenue
Thursday, 23 February 2017, 2:14 pm | BusinessDesk
Feb. 23 (BusinessDesk) - Transpower New Zealand reported a higher first-half profit as the state-owned company saw a rise in transmission revenue. More >>
Vital Healthcare 1H distributable income rises 87%
Thursday, 23 February 2017, 1:41 pm | BusinessDesk
Feb. 23 (BusinessDesk) - Vital Healthcare Property Trust, the Auckland-based hospital and healthcare property developer and investor, said its first-half net distributable income rose 87 percent as acquisitions and developments helped drive rental income ... More >>
Intueri halves full-year loss
Thursday, 23 February 2017, 1:36 pm | BusinessDesk
Feb. 23 (BusinessDesk) - Intueri Education Group halved its full-year loss after taking a smaller charge on impairments, offsetting a 14 percent decline in revenue. More >>
Investors wipe nearly $300M off Sky TV valuation
Thursday, 23 February 2017, 1:30 pm | BusinessDesk
Feb. 23 (BusinessDesk) - Sky TV Network Television shares were hammered when trading opened on the New Zealand stock exchange this morning, with investors wiping $293 million off the value of the pay-TV provider after this morning's rejection of its ... More >>
Trade Me first half profit climbs 16%
Thursday, 23 February 2017, 1:09 pm | BusinessDesk
Feb. 23 (BusinessDesk) - Trade Me lifted first-half profit 16 percent signalling an end to an investment phase for the online marketplace and business, although the result fell just short of analyst expectations. More >>
Summerset annual earnings rise 50% as expansion accelerates
Thursday, 23 February 2017, 12:33 pm | BusinessDesk
Feb. 23 (BusinessDesk) - Summerset Group boosted annual earnings 50 percent after opening more retirement villages and improving its margins. More >>
Premium sports monopoly key to Sky-Vodafone merger rejection
Thursday, 23 February 2017, 12:27 pm | BusinessDesk
Feb. 23 (BusinessDesk) - Ownership of “all premium sports content” by a “strongly vertically integrated pay-TV and full-service telecommunications provider” is the key reason for the Commerce Commission’s rejection of the proposed merger between ... More >>
Summerset annual earnings rise 50% as expansion accelerates
Thursday, 23 February 2017, 12:26 pm | BusinessDesk
Feb. 23 (BusinessDesk) - Summerset Group boosted annual earnings 50 percent after opening more retirement villages and improving its margins. More >>
Port of Tauranga posts 8.5% 1H profit gain
Thursday, 23 February 2017, 12:15 pm | BusinessDesk
Feb. 23 (BusinessDesk) - Port of Tauranga posted an 8.5 percent gain in first-half profit and raised its full-year guidance, saying both exports and import cargo volumes rose, including a rebound in the outbound log trade. More >>
Fed minutes show concern at greenback strength
Thursday, 23 February 2017, 12:13 pm | BusinessDesk
Feb. 23 (BusinessDesk) - The New Zealand dollar rose after minutes of the US Federal Reserve's latest meeting showed concern that a strong greenback could hurt the US economy while some comments appeared to downplay any near-term inflation risks. More >>
ComCom declines merger over competition fears
Thursday, 23 February 2017, 12:10 pm | BusinessDesk
Feb. 23 (BusinessDesk) - The Commerce Commission has rejected an application by Sky Network Television and Vodafone New Zealand to merge their businesses over fears it would stifle competition, with a key factor being its ownership of premium sports ... More >>
Fonterra keeps forecast farmgate payout at $6/kgMS
Thursday, 23 February 2017, 12:08 pm | BusinessDesk
Feb. 23 (BusinessDesk) - Fonterra Cooperative Group has kept its forecast farmgate payout at $6 per kilogram of milk solids, citing the rebalancing of demand and supply which led to a slump in dairy prices last year, and expects those prices to either ... More >>
Air New Zealand posts 24% decline in 1H profit
Thursday, 23 February 2017, 12:06 pm | BusinessDesk
Feb. 23 (BusinessDesk) - Air New Zealand posted a 24 percent fall in first-half pretax profit in the face of increasing competition both at home and abroad but fared better than analysts expected. More >>
Ports of Auckland holds first-half dividend unchanged
Thursday, 23 February 2017, 9:41 am | BusinessDesk
Feb. 22 (BusinessDesk) - Ports of Auckland will pay its owner, Auckland Council, an unchanged first-half dividend even as profit fell and debt rose. More >>
NZ shares down, Fletcher and Sky TV drop on earnings
Thursday, 23 February 2017, 9:26 am | BusinessDesk
Feb. 22 (BusinessDesk) - New Zealand shares dropped, dragged lower after Fletcher Building's first half earnings disappointed, with A2 Milk Co and Sky Network Television also falling. More >>
UPDATE2: Fletcher shares drop after 1H results
Thursday, 23 February 2017, 9:07 am | BusinessDesk
Feb. 22 (BusinessDesk) - Fletcher Building shares fell after the company posted a 2 percent gain in first-half profit that included unexpectedly weak earnings from its construction division that included a loss in the "tens of millions" on a major ... More >>
NZ dollar holds gains as investors keep watch on the Fed
Thursday, 23 February 2017, 9:04 am | BusinessDesk
Feb. 22 (BusinessDesk) - The New Zealand dollar held on to earlier gains as markets await minutes from the US Federal Reserve's latest meeting and several more speeches from Fed officials for a steer on where US interest rates may be heading. More >>
UPDATE: Spark, 2Degrees granted stay on merger decision
Thursday, 23 February 2017, 9:02 am | BusinessDesk
Feb. 22 (BusinessDesk) - Spark New Zealand and 2Degrees have been granted a stay on the proposed merger between rival Vodafone New Zealand and pay-TV operator Sky Network Television to consider their legal options. More >>
Air NZ joins govt's cross-agency panel for air travel
Thursday, 23 February 2017, 9:00 am | BusinessDesk
Feb. 22 (BusinessDesk) - Air New Zealand has joined the panel of carriers providing air services in the government's cross-agency contract designed to get the best deal for the taxpayer. More >>
Spark, 2Degrees granted stay on merger decision
Thursday, 23 February 2017, 8:58 am | BusinessDesk
Feb. 22 (BusinessDesk) - Spark New Zealand and 2Degrees have been granted a stay on the proposed merger between rival Vodafone New Zealand and pay-TV operator Sky Network Television to consider their legal options. More >>
