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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 747]
Cavalier posts worst ever annual loss amid restructure
Friday, 28 August 2015, 5:52 pm | BusinessDesk
Aug. 28 (BusinessDesk) - Cavalier Corp reported the worst loss in its history as the carpet maker foregoes dividends and sells assets in a bid to restructure its business and return to profitability. More >>
MARKET CLOSE: Power company shares rise on yield hunt
Friday, 28 August 2015, 5:35 pm | BusinessDesk
Aug. 28 (BusinessDesk) - New Zealand shares rose as investors sought dividend-paying equities in a low interest rate environment. Electricity companies Genesis Energy, Mighty River Power and Meridian Energy advanced. More >>
NZ dollar heads for 3.1% weekly slump
Friday, 28 August 2015, 5:11 pm | BusinessDesk
NZ dollar heads for 3.1% weekly slump after early market meltdown; Jackson Hole looms More >>
Air NZ shares fall, analysts query capital return strategy
Friday, 28 August 2015, 4:49 pm | BusinessDesk
Aug. 28 (BusinessDesk) - Air New Zealand’s share price has dropped 16 percent in the last three months and 5.7 percent since announcing a record $327 million net profit this week and indicating a significant earnings uplift for the 2016 financial ... More >>
Air NZ shares fall, analysts query capital return strategy
Friday, 28 August 2015, 4:49 pm | BusinessDesk
Aug. 28 (BusinessDesk) - Air New Zealand’s share price has dropped 16 percent in the last three months and 5.7 percent since announcing a record $327 million net profit this week and indicating a significant earnings uplift for the 2016 financial ... More >>
Anti-dumping consumer welfare test unfair to NZ businesses
Friday, 28 August 2015, 4:04 pm | BusinessDesk
Aug. 28 (BusinessDesk) - The government’s plans to introduce a consumer welfare test to anti-dumping laws will put local firms at a disadvantage to their foreign counterparts, according to Business New Zealand. More >>
FMA's top risks crop up in 2015 enforcement activity
Friday, 28 August 2015, 3:40 pm | BusinessDesk
Aug. 28 (BusinessDesk) - The Financial Markets Authority's top seven strategic priorities were a common theme for the regulator's enforcement activity over the past year, with governance, culture and conflicted conduct the agency's biggest problem. More >>
Martin Aircraft posts full-year loss
Friday, 28 August 2015, 2:21 pm | BusinessDesk
Martin Aircraft posts full-year loss; on track to sell world's first commercial jetpack next year More >>
S&P affirms NZ's credit rating despite slowing growth
Friday, 28 August 2015, 2:14 pm | BusinessDesk
Aug. 28 (BusinessDesk) - New Zealand's credit ratings were affirmed by Standard & Poor's, which expects the government to get its finances back into surplus, even if low inflation and slowing growth make that more difficult. More >>
KiwiRail's operatings earnings improve despite lower freight
Friday, 28 August 2015, 2:09 pm | BusinessDesk
Aug. 28 (BusinessDesk) - KiwiRail had a much better 12 months to June 30 than a year earlier, improving its earnings before interest, tax,depreciation and asset impairments to $91 million, 17 percent ahead of the previous financial year, which was marred ... More >>
Ron Brierley rides again, builds 7.2% stake in Smiths City
Friday, 28 August 2015, 1:02 pm | BusinessDesk
Aug. 28 (BusinessDesk) - Veteran corporate investor Ron Brierley is sniffing out opportunities in Christchurch-based retail chain Smiths City, which has started closing down unprofitable stores to eke out a lift in earnings. More >>
UPDATE: Kiwibank comes of age, pays first annual dividend
Friday, 28 August 2015, 12:25 pm | BusinessDesk
Aug. 28 (BusinessDesk) - Kiwibank, the banking unit of state-owned New Zealand Post, will pay its first annual dividend after 13 years of operation, reflecting its increased size, record profits and its ability to fund its own activities. More >>
Higher future power prices loom as generators cut gas, coal
Friday, 28 August 2015, 11:28 am | BusinessDesk
Aug. 28 (BusinessDesk) - The future wholesale price of electricity is already rising, following decisions by three of the country's electricity generators to close more than 1,000 Megawatts of installed generation capacity that uses gas and coal to run. More >>
UPDATE: NZ Post flags competition, economic and GST headwind
Friday, 28 August 2015, 11:15 am | BusinessDesk
Aug. 28 (BusinessDesk) - New Zealand Post Group says it faces "structural and permanent decline" and further headwinds from increased competition, a fragile global and domestic economy and higher costs on the back of proposed introduction ... More >>
Veritas profit drops 23%, to pay smaller dividend
Friday, 28 August 2015, 10:41 am | BusinessDesk
Aug. 28 (BusinessDesk) - Veritas Investments, the food and beverage investor, posted a 23 percent drop in annual profit and will pay a smaller dividend to shareholders as it wrestles with integrating its Nosh Food Market and Better Beer Co acquisitions. More >>
Fliway pays special dividend as annual profit beats target
Friday, 28 August 2015, 10:36 am | BusinessDesk
Aug. 28 (BusinessDesk) - Fliway, the transport and logistics company that listed on the NZX in April, will pay a special dividend after posting annual profit 33 percent above its prospectus forecast mainly on lower-than-expected listing costs. More >>
Vector posts 2.8% gain in full-year earnings
Friday, 28 August 2015, 10:06 am | BusinessDesk
Vector posts 2.8% gain in full-year earnings as smart meters lead growth, sees further gain in 2016 More >>
NZ Post boosts profit 34% on asset sales, Kiwibank
Friday, 28 August 2015, 9:40 am | BusinessDesk
Aug. 28 (BusinessDesk) - New Zealand Post Group lifted annual profit 34 percent, booking a one-off gain from the sale of its Australian business, Couriers Please, while at home its Kiwibank unit boosted earnings. More >>
Vista boosts first-half profit 24%
Friday, 28 August 2015, 9:31 am | BusinessDesk
Aug. 28 (BusinessDesk) - Vista Group International, the cinema software and analytics firm, boosted first-half profit 24 percent as the expanded group beefed up its share of the global market and extended its reach into new territory. More >>
Kiwibank comes of age, set to pay first annual dividend
Friday, 28 August 2015, 9:30 am | BusinessDesk
Aug. 28 (BusinessDesk) - Kiwibank, the banking unit of state-owned New Zealand Post, will pay its first annual dividend after 13 years of operation, reflecting its increased size, record profits and its ability to fund its own activities. More >>
