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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 655]
New Zealand to join Australian medical research fund
Tuesday, 23 February 2016, 3:32 pm | BusinessDesk
Feb. 23 (BusinessDesk) - New Zealand life science and medical research companies will be able to bid for millions of Australian dollars in funding to support new drugs and medical developments after the government signed up to Australia's Medical ... More >>
Tower puts maximum bill for Winston in Fiji at $7.2 mln
Tuesday, 23 February 2016, 3:23 pm | BusinessDesk
Feb. 23 (BusinessDesk) - Tower, the New Zealand general insurer, says its maximum exposure to Cyclone Winston in Fiji is $7.2 million, but that it will take a number of days to assess the damage. More >>
Healthscope's NZ unit outperforms on Wellington lab deal
Tuesday, 23 February 2016, 3:00 pm | BusinessDesk
Feb. 23 (BusinessDesk) - ASX-listed Healthscope's New Zealand pathology business outperformed the rest of the group after its successful bid to provide lab services across the Wellington region drove a 21 percent gain in revenue. More >>
Qantas has best performance in 95-year history
Tuesday, 23 February 2016, 1:03 pm | BusinessDesk
Feb. 23 (BusinessDesk) - Australia’s biggest airline Qantas’s underlying performance in the 2015 calendar year was the best in its 95-year history through revenue growth, cost cutting and lower fuel prices, along with benefits from ending its damaging ... More >>
SFO charges former financial adviser Jonathan West
Tuesday, 23 February 2016, 12:09 pm | BusinessDesk
Feb. 23 (BusinessDesk) - Jonathan West, a former financial services adviser, is facing five charges of theft for what the Serious Fraud Office alleges was misusing client money. More >>
Tiwai Point and old Huntly station look set to run past 2018
Tuesday, 23 February 2016, 11:44 am | BusinessDesk
Feb. 23 (BusinessDesk) - Both the Tiwai Point aluminium smelter and the remaining two gas and coal-fired units at Genesis Energy's ageing Huntly power station will remain in operation past 2018, Mighty River Power's chief executive Fraser Whineray ... More >>
Heartland shares up on higher dividend, 8.9% 1H profit rise
Tuesday, 23 February 2016, 10:54 am | BusinessDesk
Feb. 23 (BusinessDesk) - Heartland Bank shares rose to a three-week high after the NZX-listed lender hiked its interim dividend payment following an 8.9 percent lift in first-half profit, as increased auto loans and reverse mortgages bolstered its ... More >>
Fliway shares jump as 60% 1H profit rise beats forecast
Tuesday, 23 February 2016, 10:48 am | BusinessDesk
Feb. 23 (BusinessDesk) - Fliway, the listed transport and logistics group, increased first-half profit 60 percent as a reduction in costs offset weaker revenue. The shares jumped to a record. More >>
Wynyard extends trading halt to Feb. 24; plans rights offer
Tuesday, 23 February 2016, 10:47 am | BusinessDesk
Feb. 23 (BusinessDesk) - Wynyard Group has extended its trading halt until tomorrow in order to finalise details of a planned capital raise. More >>
Kirkcaldie estimates residual value of $3.18-$3.67 per share
Tuesday, 23 February 2016, 10:06 am | BusinessDesk
Feb. 23 (BusinessDesk) - Kirkcaldie & Stains, the cashed-up former department store operator, says its residual value is expected to be $3.18-to-3.67 a share once it has completed a court-approved return of capital to shareholders and cancelled ... More >>
Centreport ups 1H profit 48%, develops rail hub for logs
Tuesday, 23 February 2016, 9:58 am | BusinessDesk
Feb. 23 (BusinessDesk) - CentrePort, Wellington's port operator, lifted first-half profit 48 percent as it took a smaller hit on the value of its financial instruments compared with the year earlier period. More >>
Tourism Holdings lifts 1H profit 45% on upswing in tourists
Tuesday, 23 February 2016, 9:54 am | BusinessDesk
Feb. 23 (BusinessDesk) - Tourism Holdings, the campervan rental company, boosted first-half profit 45 percent and upgraded its full-year profit forecast, as the sector sits in a sweet spot with a weaker kiwi dollar and cheaper oil supporting international ... More >>
FIRST CUT: Mighty River Power first-half profit rebounds
Tuesday, 23 February 2016, 9:04 am | BusinessDesk
Feb. 23 (BusinessDesk) - Auckland-based electricity generator and retailer Mighty River Power announced a recovery in net profit for the six months to Dec. 31 to $74 million from $8 million in the same period last year, as impairments created by withdrawal ... More >>
NZ dollar joins commodity currency rally as oil prices gain
Tuesday, 23 February 2016, 8:48 am | BusinessDesk
Feb. 23 (BusinessDesk) - The New Zealand dollar rose as investors favoured commodity linked currencies after oil advanced on optimism a decrease in supply would bolster prices. More >>
While you were sleeping: Oil lifts equities
Tuesday, 23 February 2016, 7:37 am | BusinessDesk
Feb. 23 (BusinessDesk) - Equities climbed with the price of oil, underpinning investors’ demand for recently-battered stocks such as banks and miners. More >>
MARKET CLOSE: NZ shares edge lower, led by Freightways
Monday, 22 February 2016, 5:42 pm | BusinessDesk
Feb. 22 (BusinessDesk) - New Zealand shares slipped, led by Freightways on its grimmer outlook for the second half of the year, while Steel & Tube Holdings continued to rise. More >>
APN seeks adjournment in alleged tax avoidance case
Monday, 22 February 2016, 5:29 pm | BusinessDesk
Feb. 22 (BusinessDesk) - Australian publisher APN News and Media, publisher of the New Zealand Herald newspaper, has sought to adjourn its High Court challenge to an Inland Revenue Department finding it avoided paying tax in through arrangements with ... More >>
Tiwai Point smelter faces back pay bill after losing appeal
Monday, 22 February 2016, 5:29 pm | BusinessDesk
Feb. 22 (BusinessDesk) - New Zealand Aluminium Smelters, operator of the Tiwai Point smelter, has lost its Court of Appeal bid to overturn an Employment Court decision on payment for statutory holidays that fell on a weekend which it has said could ... More >>
NZ dollar gains as Asian stocks rally
Monday, 22 February 2016, 5:21 pm | BusinessDesk
Feb. 22 (BusinessDesk) - The New Zealand dollar gained, joining a rally in risk-sensitive assets, as stocks across Asia rose on improving investor sentiment. More >>
Moody's upgrade for Chorus credit rating
Monday, 22 February 2016, 4:04 pm | BusinessDesk
Feb. 22 (BusinessDesk) - Chorus's credit rating has been upgraded a notch by Moody's Investors Service following the Commerce Commission's decision on pricing for the network operator's regulated copper lines and the company's decision to maintain ... More >>
