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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 459]
NZ dollar falls as Fed minutes loom
Monday, 20 February 2017, 11:56 am | BusinessDesk
Feb. 20 (BusinessDesk) - The New Zealand dollar fell ahead of minutes of the latest Federal Open Market Committee meeting and as investors weighed the competing forces of a robust local economy and optimism about the outlook for the US. More >>
World Week Ahead: Fed minutes, Trump rally
Monday, 20 February 2017, 11:15 am | BusinessDesk
Feb. 20 (BusinessDesk) - As Wall Street continues to scale fresh record highs, investors will eye minutes of the latest Federal Open Market Committee meeting for more insight on the probability of an interest rate increase at the March meeting. More >>
MARKET CLOSE: NZ shares down
Friday, 17 February 2017, 9:16 pm | BusinessDesk
MARKET CLOSE: NZ shares down, Spark, Sky TV continue losses while Auckland Airport gains on earnings More >>
NZ house price growth to 'slow sharply'
Friday, 17 February 2017, 9:15 pm | BusinessDesk
Feb. 17 (BusinessDesk) - The New Zealand housing market is in for a "pronounced and overdue slowdown", with national house price inflation forecast to fall to around 5 percent a year, says one of the world's top three credit rating agencies, ... More >>
NZ dollar ekes out weekly gain as greenback falls
Friday, 17 February 2017, 9:14 pm | BusinessDesk
Feb. 17 (BusinessDesk) - The New Zealand dollar eked out a 0.2 percent gain against the US dollar over the week, largely on the back of a softer greenback as markets remain jittery about US President Donald Trump's policies. More >>
Lion to pay up to $25.1 million for "runaway train" Panhead
Friday, 17 February 2017, 9:13 pm | BusinessDesk
Feb. 17 (BusinessDesk) - Lion - Beer, Spirits & Wine (NZ), the local unit of Japanese brewer Kirin Holdings, will pay as much as $25.1 million for its newly acquired Panhead Custom Ales craft beer brand, which the local head has described as a "runaway ... More >>
Millennium & Copthorne Hotels posts $40M profit
Friday, 17 February 2017, 9:12 pm | BusinessDesk
Feb. 17 (BusinessDesk) - Millennium & Copthorne Hotels New Zealand, the hotel operator and property developer, nearly doubled profit in 2016, while CDL Investments, the residential property developer it controls, lifted net profit 55 percent in the ... More >>
NZ and Aussie trade deals needed as proof EU can do them
Friday, 17 February 2017, 9:10 pm | BusinessDesk
NZ and Aussie trade deals needed as proof EU can do them: Hungarian foreign minister More >>
Labour promises $20M for Gisborne timber processing
Friday, 17 February 2017, 5:29 pm | BusinessDesk
Feb. 17 (BusinessDesk) - The Labour Party is pledging up to $20 million, if elected, to support the region's timber processing sector, possibly by helping fund a prefabricated housing plant. More >>
UPDATED: Auckland Airport's reponse to rapid growth
Friday, 17 February 2017, 4:25 pm | BusinessDesk
Feb. 17 (BusinessDesk) - Auckland International Airport broadly met analyst expectations with a 19 percent gain in first-half profit although analysts and investors see some speed wobbles as New Zealand's busiest gateway responds to surging passenger growth. More >>
RBNZ, Treasury talk up global economic risks
Friday, 17 February 2017, 4:16 pm | BusinessDesk
Feb. 17 (BusinessDesk) - The Reserve Bank and the Treasury warned incoming Finance Minister Steven Joyce about the international threats posed to New Zealand's economy, which they both saw as being relatively robust. More >>
Michael Hill lifts 1H profit 3.4%
Friday, 17 February 2017, 3:52 pm | BusinessDesk
Feb. 17 (BusinessDesk) - Michael Hill International, the jewellery chain business founded by its namesake, posted a 3.4 percent increase in first-half profit as it opened more stores. More >>
New Zealand's manufacturing activity slips in January
Friday, 17 February 2017, 2:44 pm | BusinessDesk
Feb. 17 (BusinessDesk) - New Zealand's manufacturing activity slipped in January from December and there may be further headwinds to come as the building sector's momentum loses some of its 'oomph'. More >>
Strong 1st qtr earnings gain in NZ for ANZ
Friday, 17 February 2017, 2:38 pm | BusinessDesk
Feb. 17 (BusinessDesk) - ANZ New Zealand, the local unit of Australia & New Zealand Banking Group, boosted first-quarter earnings 18 percent, benefiting from cost-cutting and smaller hedging losses, even as its loan book shrank and it faced skinnier margins. More >>
NZ retail sales rise 0.8% in Dec qtr, auto sector dominates
Friday, 17 February 2017, 2:35 pm | BusinessDesk
Feb. 17 (BusinessDesk) - New Zealand retail sales gained in the fourth quarter, led again by motor vehicle and parts retailing, with eleven of the 15 industries monitored seeing higher sales volumes. More >>
Ed Sims to leave Airways Corp for international post
Friday, 17 February 2017, 2:10 pm | BusinessDesk
Feb. 17 (BusinessDesk) - Ed Sims, the Airways Corp chief executive responsible for a major step up in the performance of New Zealand's civil aviation services, is leaving in May for a position in an unnamed international organisation. More >>
Cavalier reports sharply lower 1H net profit
Friday, 17 February 2017, 2:04 pm | BusinessDesk
Feb. 17 (BusinessDesk) - Cavalier Corp posted a sharply lower first-half profit and the carpet maker and wool scourer continues to forecast no earnings growth for the full year, although it expects improvement further down the track. More >>
IkeGPS still sees breakeven this year
Friday, 17 February 2017, 1:42 pm | BusinessDesk
Feb. 17 (BusinessDesk) - IkeGPS, the laser measurement toolmaker, maintained its breakeven forecast for 2017 but won't achieve projected sales growth after a weak first half, and expects lumpiness in its revenue to 2018 and beyond. More >>
Steel & Tube 1H profit down 33% but upbeat about second half
Friday, 17 February 2017, 12:56 pm | BusinessDesk
Feb. 17 (BusinessDesk) - Steel & Tube Holdings, the NZX-listed steel products distributor, reported a 33 percent drop in first-half profit, hurt by a decline in non-residential construction, but expects things to pick up in the second half. More >>
Auckland Airport lifts first-half profit by 19%
Friday, 17 February 2017, 12:44 pm | BusinessDesk
Feb. 17 (BusinessDesk) - Auckland International Airport posted a 19 percent gain in first-half profit, a period when New Zealand's busiest gateway added airlines with increased capacity and new services and routes, and the country enjoyed record ... More >>
