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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 72]
Alliance expects African swine fever to support meat prices
Thursday, 2 May 2019, 4:44 pm | BusinessDesk
May 2 (BusinessDesk) - Red meat cooperative Alliance Group said meat prices are strong as the African swine fever outbreak decimates Chinese pork production. More >>
Countdown March-qtr sales growth underpinned by produce
Thursday, 2 May 2019, 3:23 pm | BusinessDesk
May 2 (BusinessDesk) - The Woolworths-owned Countdown supermarket chain lifted sales 3.2 percent in the March quarter, which the retailer put down to growth in fruit, vegetables and perishables. More >>
BNZ lifts first-half profit 12.2% as lending grows
Thursday, 2 May 2019, 2:53 pm | BusinessDesk
May 2 (BusinessDesk) - Bank of New Zealand’s first-half net profit jumped 12.2 percent, boosted by gains on the sale of its 25 percent stake in Paymark and increased business and housing lending. More >>
Moa says 2nd half trading loss narrowed
Thursday, 2 May 2019, 2:41 pm | BusinessDesk
May 2 (BusinessDesk) - Moa Group says it narrowed its trading loss in the second half of the financial year as it works towards breaking even after seven years of red ink since the beer brewer listed. More >>
Overseas buyers missing in action, building consents dip
Thursday, 2 May 2019, 2:38 pm | BusinessDesk
May 2 (BusinessDesk) - Overseas buyer activity fell off a cliff in the first quarter of the year after restrictions to bar foreigners from snapping up existing homes took hold. More >>
Auckland house sales dip as Easter saps April activity
Thursday, 2 May 2019, 1:46 pm | BusinessDesk
May 2 (BusinessDesk) - Auckland realtor Barfoot & Thompson says activity slowed last month in the country's biggest city due to the Easter and Anzac Day holidays, although sale prices were largely flat. More >>
Z Energy FY earnings fall 13%
Thursday, 2 May 2019, 12:34 pm | BusinessDesk
May 2 (BusinessDesk) - Z Energy reported a 13 percent decline in full-year net profit after an extended outage at the Marsden Point refinery raised its costs and record pump prices reduced sales volumes industry-wide. More >>
NZ dollar falls after Fed talks up US economy
Thursday, 2 May 2019, 11:35 am | BusinessDesk
May 2 (BusinessDesk) - The New Zealand dollar fell after upbeat comments from Federal Reserve Chairman Jerome Powell pushed the prospect of a US rate cut off the table. More >>
MARKET CLOSE: NZ shares fall on profit warnings
Wednesday, 1 May 2019, 9:16 pm | BusinessDesk
May 1 (BusinessDesk) - New Zealand shares sank as muted earnings guidance from SkyCity Entertainment Group and A2 Milk didn't meet investors' expectations. New Zealand King Salmon shed almost a fifth of its value as warmer water left it with more dead ... More >>
NZ dollar falls on weaker-than-expected jobs data
Wednesday, 1 May 2019, 8:18 pm | BusinessDesk
May 1 (BusinessDesk) - The New Zealand dollar fell on perceived weakness in March-quarter jobs data, even though the unemployment rate of 4.2 percent was bang on expectations. More >>
Vodafone fined $350,000 for billing former customers
Wednesday, 1 May 2019, 8:06 pm | BusinessDesk
May 1 (BusinessDesk) - Vodafone New Zealand has been fined $350,000 for charging more than 29,000 customers after the end date of cancelled contracts with the country's biggest mobile carrier. More >>
ANZ CEO says he's taking Adrian Orr at his word
Wednesday, 1 May 2019, 8:05 pm | BusinessDesk
ANZ CEO says he's taking Adrian Orr at his word on bank capital consultation More >>
UPDATE: NZ labour data has soft underbelly
Wednesday, 1 May 2019, 4:06 pm | BusinessDesk
May 1 (BusinessDesk) - New Zealand’s unemployment rate nudged lower and annual wage inflation ticked slightly higher. But given the underlying softness, the data is unlikely to sway the central bank from either cutting rates next week or at least ... More >>
Ebos' board, managers should hang their heads in shame: NZSA
Wednesday, 1 May 2019, 3:28 pm | BusinessDesk
May 1 (BusinessDesk) - Ebos' board and managers should hang their heads in shame for cutting retail shareholders out of its discounted capital raising, which clearly wasn't urgent, says outgoing New Zealand Shareholders’ Association chair John Hawkins. More >>
ANZ's NZ profit fell 4% amid slowing housing market
Wednesday, 1 May 2019, 3:03 pm | BusinessDesk
May 1 (BusinessDesk) - ANZ Bank says its first-half net profit from its New Zealand operations fell 4 percent as profits from retail lending eased amid a slowing housing market. More >>
NZ unemployment rate eases to 4.2% in March quarter
Wednesday, 1 May 2019, 2:13 pm | BusinessDesk
May 1 (BusinessDesk) - New Zealand’s unemployment rate nudged lower while annual wage inflation ticked slightly higher, largely on the back of several collective agreements including the nurses’ agreement last August. More >>
SkyCity expects core annual net profit to fall on tax charge
Wednesday, 1 May 2019, 1:32 pm | BusinessDesk
May 1 (BusinessDesk) - SkyCity Entertainment Group lowered its full-year guidance slightly after year-to-date trading was softer than expected and after the earlier settlement of the Darwin casino sale. More >>
Westpac's bad advice will shave A$357m off 1st-half earnings
Wednesday, 1 May 2019, 1:10 pm | BusinessDesk
May 1 (BusinessDesk) - Westpac says its first-half cash earnings will be reduced by A$357 million because of provisions to “remediate” ongoing advice service fees. However it still doesn’t know the full extent of such costs. More >>
Ebos raises more than it sought from underwritten placement
Wednesday, 1 May 2019, 1:08 pm | BusinessDesk
May 1 (BusinessDesk) - Ebos says it has raised $175 million from a discounted placement to institutions, $25 million more than it had been seeking. More >>
A2 Milk says nine-month revenue up 42%, reiterates guidance
Wednesday, 1 May 2019, 12:27 pm | BusinessDesk
May 1 (BusinessDesk) - A2 Milk Co said group revenue accelerated a little in its third quarter, with sales for the nine months through March 31 being up 42 percent. More >>
