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BusinessDesk - Latest News [Page 649]

TVNZ first half profit drops 36%

Tuesday, 1 March 2016, 3:55 pm | BusinessDesk

March 1 (BusinessDesk) - Television New Zealand posted a 36 percent drop in first-half profit as a slowing advertising market and reduced government funding ate into revenue, as the state-owned broadcaster built up its content library with a jump in programme ... More >>

NZ's Brand Developers to pay US$2.95mn for blender blunder

Tuesday, 1 March 2016, 3:26 pm | BusinessDesk

NZ's Brand Developers to pay US$2.95mn for blender blunder By Sophie Boot More >>

Kiwibank predicts RB will cut interest rates next week

Tuesday, 1 March 2016, 1:55 pm | BusinessDesk

March 1 (BusinessDesk) - Kiwibank is betting the Reserve Bank of New Zealand will cut interest rates at its meeting next week, becoming the first local bank to officially put its stake in the ground for a move this month. More >>

Flexi Buy fined $50,000 after truck shops crackdown

Tuesday, 1 March 2016, 12:23 pm | BusinessDesk

March 1 (BusinessDesk) - Truck shop Flexi Buy has been fined $50,000 by the Auckland District Court with a further $3,408 awarded in damages to affected customers, in the first conviction of a mobile trader since the Commerce Commission’s investigation ... More >>

Brierley's Mercantile first-half profit falls 34%

Tuesday, 1 March 2016, 12:04 pm | BusinessDesk

March 1 (BusinessDesk) - Mercantile Investments, the latest investment vehicle of veteran corporate raider Ron Brierley, posted a 34 percent drop in first-half profit as share payments, loan impairments and tax ate into dividend returns and an uplift ... More >>

Meridian Energy details up $150M bond issue

Tuesday, 1 March 2016, 11:49 am | BusinessDesk

March 1 (BusinessDesk) - Meridian Energy, New Zealand's largest hydro electricity generator and wind farm operator, plans to raise as much as $150 million of seven-year bonds, taking advantage of record low interest rates. More >>

NZ Super Fund signs Ramius LLC for US$200mn merger arbitrage

Tuesday, 1 March 2016, 11:41 am | BusinessDesk

March 1 (BusinessDesk) - The New Zealand Superannuation Fund has signed up US-based investment management business Ramius LLC to manage a US$200 million mandate to buy and sell shares on both sides of a merger, known as merger arbitrage. More >>

NZ terms of trade falls 2% in fourth quarter

Tuesday, 1 March 2016, 11:39 am | BusinessDesk

NZ terms of trade falls 2% in fourth quarter as dairy, meat lead weaker export prices More >>

NZX dairy derivatives widen reach with US-based ADMIS

Tuesday, 1 March 2016, 11:09 am | BusinessDesk

March 1 (BusinessDesk) - NZX, the New Zealand financial market operator, has boosted the reach of its dairy derivatives market by linking up with US-based brokerage and clearing firm ADM Investor Services. More >>

ComCom questions why Fonterra has to take all farmers' milk

Tuesday, 1 March 2016, 11:05 am | BusinessDesk

March 1 (BusinessDesk) - The Commerce Commission questions whether new dairy conversions should retain automatic rights to supply Fonterra Cooperative Group in its largely unchanged final report on competition in the sector, which recommends a staggered ... More >>

Commerce Commission declines San-i-pak sale to Tennex

Tuesday, 1 March 2016, 10:55 am | BusinessDesk

March 1 (BusinessDesk) - The Commerce Commission has turned down Tennex Capital's application to acquire San-i-pak, saying the merger would give it a monopoly on the treatment and disposal of medical and quarantine waste in the South Island. More >>

Kordia boosts first-half profit, resumes interim dividends

Tuesday, 1 March 2016, 10:09 am | BusinessDesk

March 1 (BusinessDesk) - Kordia Group, the state-owned broadcasting and telecommunications network operator, posted a jump in first-half profit, allowing it to pay down debt and deliver an interim dividend to the Crown for the first time in three years. More >>

NZ Post's art collection for sale as head office shrinks

Tuesday, 1 March 2016, 9:58 am | BusinessDesk

March 1 (BusinessDesk) - New Zealand Post Group, which is three years into a five-year transformation to shrink its business to keep pace with falling mail volumes, has put its art collection up for sale. More >>

NZ dollar holds steady versus Aussie ahead of RBA meeting

Tuesday, 1 March 2016, 8:46 am | BusinessDesk

March 1 (BusinessDesk) - The New Zealand dollar held steady against the Australian dollar ahead of the Reserve Bank of Australia's decision on interest rates today. More >>

While you were sleeping: China boosts sentiment

Tuesday, 1 March 2016, 7:27 am | BusinessDesk

March 1 (BusinessDesk) - Wall Street rose, as did oil, after China's central bank lowered its reserve requirement ratio in an effort to stoke economic growth. More >>

MARKET CLOSE: Orion extends gains, Sky TV keeps falling

Monday, 29 February 2016, 5:55 pm | BusinessDesk

Feb. 29 (BusinessDesk) - New Zealand shares rose, as Orion Health Group continued to rally on a new US deal, while Sky Network Television extended its fall. More >>

Coal and dairy revenues hit KiwiRail first-half

Monday, 29 February 2016, 5:49 pm | BusinessDesk

Feb. 29 (BusinessDesk) - Falling revenue from the rail network and one-off restructuring costs pushed state-owned KiwiRail to a net loss for the six months to Dec. 31 of $16.2 million, compared with a $6.8 million loss for the same period last year. More >>