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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 61]
Annual exports to China top $15 billion for first time
Friday, 24 May 2019, 2:35 pm | BusinessDesk
May 24 (BusinessDesk) - Annual exports to China jumped 22 percent in April to top $15 billion for the first time, amid growing demand for beef, lamb, logs and dairy products. More >>
Gentrack posts $8.7M loss on CA Plus write-down
Friday, 24 May 2019, 1:11 pm | BusinessDesk
May 24 (BusinessDesk) - Utilities software specialist Gentrack Group has reported an $8.7 million first-half loss after writing off the value of airport software developer CA Plus it acquired in 2017. More >>
Westpac on RBNZ capital proposals
Friday, 24 May 2019, 1:10 pm | BusinessDesk
Westpac says RBNZ capital proposals would add $6,000 p.a. to an Auckland mortgage More >>
Cavalier says market conditions still challenging
Friday, 24 May 2019, 12:31 pm | BusinessDesk
May 24 (BusinessDesk) - Cavalier Corp expects to break-even in the second half, meaning annual normalised profit will remain around $1.9 million as market conditions remain tough. More >>
Ryman hikes dividend as annual earnings grow
Friday, 24 May 2019, 12:30 pm | BusinessDesk
May 24 (BusinessDesk) - Ryman Healthcare will pay a bigger return to shareholders after chalking up another record earnings result on wider development margins, despite slowing sales. More >>
Fonterra's profit warning increases importance of asset sale
Friday, 24 May 2019, 11:50 am | BusinessDesk
May 24 (BusinessDesk) - Fonterra Co-operative Group's profit downgrade doesn't impact its rating but increases the importance of its asset sales, Fitch Ratings says. More >>
NZ dollar higher as greenback falters on trade jitters
Friday, 24 May 2019, 11:05 am | BusinessDesk
May 24 (BusinessDesk) - The New Zealand dollar was trading higher early Friday on weak US data and as US-China trade tensions show no sign of easing. More >>
MARKET CLOSE: NZ shares rise as Fletcher extends gain
Thursday, 23 May 2019, 8:50 pm | BusinessDesk
May 23 (BusinessDesk) - New Zealand stocks rose, led higher by Fletcher Building as the construction company extended a recent rally. Metro Performance Glass jumped 13 percent after meeting its downgraded earnings guidance. More >>
NZ dollar eases as US-China trade war, Brexit saga drag on
Thursday, 23 May 2019, 8:27 pm | BusinessDesk
May 23 (BusinessDesk) - The New Zealand dollar was slightly weaker as indications of softness in the domestic economy added to worries about the United States-China trade war and the ongoing Brexit saga. More >>
OceanaGold less confident in regulatory regime
Thursday, 23 May 2019, 7:05 pm | BusinessDesk
May 23 (BusinessDesk) - OceanaGold says the surprise rejection of a land purchase for a new tailings facility has reduced its confidence in this country’s regulatory settings. More >>
INFINZ says RBNZ bank capital proposals lack analysis
Thursday, 23 May 2019, 7:04 pm | BusinessDesk
May 23 (BusinessDesk) - The Reserve Bank has provided insufficient material and analysis of its “dramatic” bank capital proposals, and they warrant “a level of scrutiny proportionate to the magnitude and breadth of its potential impacts on the wider ... More >>
UPDATE: Fonterra says more assets under review
Thursday, 23 May 2019, 5:45 pm | BusinessDesk
May 23 (BusinessDesk) - Fonterra Cooperative Group narrowed the range for its forecast payout to farmers this season, cut its earnings guidance and says it may sell more assets as it slims down its operations and focuses on its core business. More >>
Spark scolded for misleading customers on price hike
Thursday, 23 May 2019, 3:53 pm | BusinessDesk
May 23 (BusinessDesk) - Spark New Zealand has been told off by the Commerce Commission for the way it hiked copper-line broadband prices last year when it didn't let customers know they could cancel their agreement. More >>
UPDATE: Metroglass' woes drag annual net profit down 69%
Thursday, 23 May 2019, 3:48 pm | BusinessDesk
May 23 (BusinessDesk) - Metro Performance Glass blamed "significant challenges" in Australia for a 69 percent plunge in annual net profit and a slide in operating earnings consistent with the firm's March downgrade. More >>
Zespri annual profit jumps 77% on higher kiwifruit sales
Thursday, 23 May 2019, 2:40 pm | BusinessDesk
May 23 (BusinessDesk) - Zespri Group says annual profit rose 77 percent as the fruit export marketer benefited from growing global sales of kiwifruit and bigger fees from the licensing of the SunGold variety. More >>
Freightways says express package growth slowed in 2H
Thursday, 23 May 2019, 2:14 pm | BusinessDesk
May 23 (BusinessDesk) - Freightways says softer express package business growth in the second half poses some risks for the 2020 financial year. More >>
BUDGET 2019: NZ debt target to be more flexible from 2022
Thursday, 23 May 2019, 1:21 pm | BusinessDesk
May 23 (BusinessDesk) - The government remains committed to reducing net debt to 20 percent of gross domestic product by 2022 but plans to shift to a target range rather than a single figure, says the finance minister. More >>
Argosy annual profit climbs 36% on revaluation gains
Thursday, 23 May 2019, 1:20 pm | BusinessDesk
May 23 (BusinessDesk) - Argosy Property lifted annual profit 36 percent as it benefited from a sharp increase in the value of its property portfolio, and paid a slightly bigger dividend than expected. More >>
Sanford earnings hit by vessel impact from crew death
Thursday, 23 May 2019, 1:15 pm | BusinessDesk
Fishing company Sanford reported an 8 percent decline in first-half operating earnings after the death of a crew member kept one of its deep water vessels in port for three months. More >>
NZ-owned banks says capital proposals will make it harder
Thursday, 23 May 2019, 1:14 pm | BusinessDesk
May 23 (BusinessDesk) - New Zealand’s smaller, locally-owned banks want the Reserve Bank to go further in leveling the competitive playing field between them and the big four Australian-owned banks. More >>
