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BusinessDesk - Latest News [Page 749]

Govt launches review of digital convergence regulation

Thursday, 27 August 2015, 10:44 am | BusinessDesk

Aug. 27 (BusinessDesk) - The government has launched a review of its regulatory frameworks governing telecommunications and broadcasting as the two sectors become increasingly tangled, a phenomenon known as digital convergence. More >>

TVNZ delivers 55% annual profit increase despite falling ads

Thursday, 27 August 2015, 10:28 am | BusinessDesk

Aug. 27 (BusinessDesk) - Government-owned Television New Zealand reported a 55 percent lift in full-year profit, despite declining advertising revenue, after growing its share of the television market and relaunching its online services. More >>

Landcorp posts 84% annual profit decline; defends debt level

Thursday, 27 August 2015, 10:03 am | BusinessDesk

Aug. 27 (BusinessDesk) - Landcorp Farming, New Zealand's largest corporate farmer, posted an 84 percent decline in annual profit as lower milk and lamb prices crimped revenue. More >>

Tourism Holdings boosts profit 81% on wider campervan margin

Thursday, 27 August 2015, 9:38 am | BusinessDesk

Aug. 27 (BusinessDesk) - Tourism Holdings, the campervan rental company, boosted annual profit 81 percent, slightly ahead of guidance, after strengthening its balance sheet and improving margins. More >>

Vodafone NZ posts $120.7 mln full-year loss

Thursday, 27 August 2015, 9:31 am | BusinessDesk

Aug. 27 (BusinessDesk) - Falling revenue and a final year of substantial costs for integrating with the Telstra Clear business saw Vodafone’s New Zealand unit turn in a loss for the year to March 31 of $120.7 million. More >>

Delegat posts 24% decline in annual earnings on writedowns

Thursday, 27 August 2015, 9:21 am | BusinessDesk

Aug. 27 (BusinessDesk) - Delegat Group, New Zealand's largest listed wine company, posted a 24 percent decline in annual profit as it wrote down the value of its grapes and financial instruments used to limit its foreign currency and interest rate exposure. More >>

NZ Oil & Gas posts $6.2M loss on writedown of Tui field

Thursday, 27 August 2015, 9:17 am | BusinessDesk

Aug. 27 (BusinessDesk) - New Zealand Oil & Gas ramped up production during the year to June 30 to offset the sharp decline in world oil prices, turning in a net loss of $6.2 million, compared with a profit of $10.1 million the previous year. More >>

Cavalier to trim debt by $6.5 mln from Ontera asset sale

Thursday, 27 August 2015, 9:12 am | BusinessDesk

Aug. 27 (BusinessDesk) - Cavalier Corp, which is restructuring its business to revive its earnings, expects to cut debt by $6.5 million from the sale of its Ontera Modular Carpets unit. More >>

Scales 1st-half profit up 61% as Mr Apple beats expectations

Thursday, 27 August 2015, 9:11 am | BusinessDesk

Aug. 27 (BusinessDesk) - Scales Corp, the country's biggest apple exporter, posted a 61 percent gain in first-half profit as its Mr Apple unit performed better than expected, and affirmed guidance for stronger annual earnings. More >>

NZ dollar declines as greenback gains, commodities fall

Thursday, 27 August 2015, 8:11 am | BusinessDesk

Aug. 27 (BusinessDesk) - The New Zealand dollar fell as better-than-expected US durable goods data supported the greenback and commodity currencies weakened. More >>

While you were sleeping: Relief rally on Wall St

Thursday, 27 August 2015, 7:44 am | BusinessDesk

Aug. 27 (BusinessDesk) - Wall Street rose, rebounding from one of its worst slumps ever, as investors found value in beaten-down equities and after New York Fed Bank President William Dudley said a US interest rate increase next month “seems less ... More >>

Treasury wrong to conclude KiwiSaver doesn't lift savings

Thursday, 27 August 2015, 7:34 am | BusinessDesk

Aug. 26 (BusinessDesk) - Treasury analysis claiming that the KiwiSaver scheme doesn't add to national savings rates is wrong because it used data from a short period affected by the global financial crisis, compares the wrong groups of people, and ignores ... More >>

MARKET CLOSE: NZ shares fall; Auckland Aiport, Metlife drop

Wednesday, 26 August 2015, 5:35 pm | BusinessDesk

Aug. 26 (BusinessDesk) - New Zealand shares fell as investors continued to fret over China's economic outlook. Auckland International Airport led the market lower, while Metlifecare declined after reporting its annual earnings. More >>

NZ dollar holds near 65 cts following China rate cut

Wednesday, 26 August 2015, 5:16 pm | BusinessDesk

Aug. 26 (BusinessDesk) - The New Zealand dollar held near the goldilocks level of 65 US cents as investors remained on edge as China's central bank cut interest rates in a bid to shore up sentiment after the stock market rout through the start of the ... More >>

Kathmandu restructure could cut 10 percent of head office

Wednesday, 26 August 2015, 4:57 pm | BusinessDesk

Aug. 26 (BusinessDesk) - Kathmandu Holdings, the outdoor clothing and equipment chain facing a hostile takeover bid, has announced an immediate review of its head office structure which could cut up to 10 percent of top management employees in Australia ... More >>