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BusinessDesk - Latest News [Page 617]

Payment to creditors of Kea Petroleum 'highly unlikely"

Monday, 2 May 2016, 11:30 am | BusinessDesk

May 2 (BusinessDesk) - A payment to any creditors of the Kea Petroleum group of companies "seems highly unlikely", and depends on the sale of Kea's Mauku-1 exploration permit, says the Deloitte liquidator for the onshore Taranaki oil and gas explorer, which ... More >>

Mighty River Power no more, now just Mercury

Monday, 2 May 2016, 11:07 am | BusinessDesk

May 2 (BusinessDesk) - Auckland-based electricity generator and retailer Mighty River Power is changing its name to Mercury Energy, in a move that underlines the increasing retail focus of the country's largest power companies. More >>

Special meeting on Shanghai Maling deal

Monday, 2 May 2016, 10:16 am | BusinessDesk

May 2 (BusinessDesk) - Silver Fern Farms, New Zealand's largest meat processor, will hold a special meeting of shareholders on its planned tie up with China’s Shanghai Maling Aquarius, despite saying it "is of no benefit" and risks being "disruptive" ... More >>

NZ dollar hits 8-week high vs Aussie dollar

Monday, 2 May 2016, 9:37 am | BusinessDesk

May 2 (BusinessDesk) - The New Zealand dollar rose to an eight-week high against the Australian dollar as investors mull the potential for an interest rate reduction at the Reserve Bank of Australia meeting tomorrow. More >>

World Week Ahead: US jobs data in focus

Monday, 2 May 2016, 8:37 am | BusinessDesk

May 2 (BusinessDesk) - The latest US corporate earnings including from Berkshire Hathaway as well as monthly jobs data will draw the focus after last week’s disappointments on both the corporate and economic front took some of the wind out of the bulls’ ... More >>

MARKET CLOSE: NZ shares rise as Z Energy purchase approved

Friday, 29 April 2016, 5:43 pm | BusinessDesk

April 29 (BusinessDesk) - New Zealand shares rose after Z Energy gained regulatory approval to acquire rival petrol chains, increasing its market share, while Skellerup Holdings suffered after a profit downgrade. More >>

Steel & Tube agrees to sell only independently tested mesh

Friday, 29 April 2016, 4:50 pm | BusinessDesk

April 29 (BusinessDesk) - Steel & Tube Holdings has agreed to sell only seismic reinforcing steel mesh which has been independently tested, the Commerce Commission said. More >>

Z shares at record as Caltex deal seen reducing competition

Friday, 29 April 2016, 1:58 pm | BusinessDesk

April 29 (BusinessDesk) - Z Energy shares jumped to a record after the Commerce Commission approved its bid to buy rival Caltex and Challenge! petrol station chains, saying price coordination at some stations wasn't enough to turn it down but that regions ... More >>

NZ building consents see-saw with 9.8% March fall

Friday, 29 April 2016, 1:35 pm | BusinessDesk

April 29 (BusinessDesk) - New Zealand residential building consents fell in March, reversing gains February, led by declines in Otago, Tasman and Bay of Plenty. More >>

NZ business confidence lifts in April

Friday, 29 April 2016, 1:33 pm | BusinessDesk

April 29 (BusinessDesk) - New Zealand firms were more optimistic about the economic outlook this month as a buoyant construction sector remains central to the country's growth in the coming year, ANZ Bank New Zealand says. More >>

OceanaGold reports record first-quarter gold output

Friday, 29 April 2016, 11:31 am | BusinessDesk

April 29 (BusinessDesk) - OceanaGold, the gold and copper miner, said it achieved record gold production from its Didipio mine in the Philippines in the first quarter and lifted group sales by 25 percent, although accounting adjustments dented profit. More >>

Zespri to re-pack and release fruit after clearance

Friday, 29 April 2016, 11:20 am | BusinessDesk

April 29 (BusinessDesk) - Zespri International will re-pack and release the 1.7 million trays of kiwifruit it placed on hold this month, saying they pose no danger to consumers. More >>

Tourism Holdings likely to exceed 2016 guidance

Friday, 29 April 2016, 10:15 am | BusinessDesk

April 29 (BusinessDesk) - Tourism Holdings will likely exceed its 2016 guidance as margins improve in New Zealand and Australia, giving the campervan rental company confidence to predict growth over 2017 and 2018. More >>

Skellerup cuts earnings guidance again

Friday, 29 April 2016, 10:14 am | BusinessDesk

April 29 (BusinessDesk) - Skellerup Holdings cut its annual earnings guidance for a second time, projecting a lower profit than 2015 as weak milk, oil and gas prices around the world weigh on demand from the rubber goods maker's customers. More >>

NZX says 1st-qtr sales rise 9.6% as debt listings climb

Friday, 29 April 2016, 10:13 am | BusinessDesk

NZX says 1st-qtr sales rise 9.6% as debt listings climb, sees Ralec victory More >>

Z cleared to buy Caltex assets, must sell 20 petrol stations

Friday, 29 April 2016, 9:25 am | BusinessDesk

April 29 (BusinessDesk) - Z Energy is allowed to buy the Caltex and Challenge! petrol station chains but must sell 19 of its retail sites and one truck-stop, the Commerce Commission has ruled in a split decision that acknowledges possible retail price ... More >>