Scoop has an Ethical Paywall
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 755]
NZ dollar little changed after dairy prices rise
Wednesday, 19 August 2015, 5:08 pm | BusinessDesk
Aug. 19 (BusinessDesk) - The New Zealand dollar was little changed after dairy prices jumped from a six-year low at the latest GlobalDairyTrade auction, and ahead of US inflation data and minutes to the last meeting of the Federal Reserve. More >>
Colonial Motor Co FY profit falls 7.4% on slimmer margins
Wednesday, 19 August 2015, 5:05 pm | BusinessDesk
Aug. 19 (BusinessDesk) - Colonial Motor Co, the listed motor vehicle distributor, posted a 7.4 percent decline in full-year profit and said margins have contracted for its car dealerships and demand for tractors has been dented by weaker dairy prices. More >>
Serko cuts revenue forecast for second time
Wednesday, 19 August 2015, 3:30 pm | BusinessDesk
Aug. 19 (BusinessDesk) - Serko, the online travel booking firm, has downgraded its revenue outlook for a second time as a slowing Australian economy weighs and after a number of contracts were delayed. More >>
Fletcher Building has balance sheet strength for acquisition
Wednesday, 19 August 2015, 3:11 pm | BusinessDesk
Aug. 19 (BusinessDesk) - Fletcher Building has a strong enough balance sheet to contemplate acquisitions and is considering buying a construction business in New Zealand, the company said after posting annual earnings that met its guidance. More >>
SkyCity may sell $125M of bonds
Wednesday, 19 August 2015, 2:46 pm | BusinessDesk
Aug. 19 (BusinessDesk) - SkyCity Entertainment Group, New Zealand's only listed casino company, may sell as much as $125 million of bonds to repay bank debt. More >>
Serko surges 20% on Expedia deal
Wednesday, 19 August 2015, 2:40 pm | BusinessDesk
Aug. 19 (BusinessDesk) - Serko shares have jumped 20 percent from a record low, after the travel booking software firm announced a deal with US-based hotel-finding website Expedia. More >>
Ports of Auckland to open BoP freight hub with Toll, Triton
Wednesday, 19 August 2015, 2:34 pm | BusinessDesk
Aug. 19 (BusinessDesk) - Ports of Auckland, the country's second largest port by volume, plans to open a freight hub in the Bay of Plenty near its major rival in Tauranga, in a deal with logistics firm Toll Holdings and land owner Triton Pacific. More >>
Evolution seeks clearance to take over Acurity Health
Wednesday, 19 August 2015, 1:03 pm | BusinessDesk
Aug. 19 (BusinessDesk) - Evolution Healthcare, the Australian healthcare investor, wants to buy out its partners in private hospital operator Acurity Healthcare, and would offload its Boulcott facility in Lower Hutt to ease any competition concerns. More >>
UPDATE: NZX 1H earnings decline on fewer IPOs
Wednesday, 19 August 2015, 12:31 pm | BusinessDesk
Aug. 19 (BusinessDesk) - NZX, the stock market operator, reported a decline in first-half operating earnings as fewer companies listed, but expects more capital raising in the coming six months. The sale of Link Market Services boosted net profit. More >>
NZX 1H earnings decline, as fewer IPOs weigh and costs grow
Wednesday, 19 August 2015, 9:46 am | BusinessDesk
Aug. 19 (BusinessDesk) - NZX, the stock market operator, reported a decline in first-half operating earnings as costs outpaced sales growth, fewer companies listed and agri publications suffered in a tighter rural sector. The sale of Link Market Services ... More >>
Fletcher Building full-year profit drops 20% on impairments
Wednesday, 19 August 2015, 9:19 am | BusinessDesk
Aug. 19 (BusinessDesk) - Fletcher Building posted a 20 percent decline in full-year profit after taking $150 million of one-time charges for plant closures and impairments. Pretax earnings rose in line with guidance, driven by a strong New Zealand performance. More >>
Meridian lifts annual earnings 5.6%, pays special dividend
Wednesday, 19 August 2015, 8:59 am | BusinessDesk
Aug. 19 (BusinessDesk) - Meridian Energy, the country's biggest electricity generator, lifted annual earnings 5.6 percent, beating its prospectus forecast, and plans to pay a second special dividend after asset sales helped boost the company's cashflow. More >>
NZ dollar little changed as dairy product prices bounce
Wednesday, 19 August 2015, 8:42 am | BusinessDesk
Aug. 19 (BusinessDesk) - The New Zealand dollar was little changed after dairy product prices jumped as expected at auction overnight, as the bounce had already been priced into the local currency. More >>
While you were sleeping: Wal-Mart drops, Home Depot rises
Wednesday, 19 August 2015, 8:02 am | BusinessDesk
Aug. 19 (BusinessDesk) - Wall Street moved lower as a fresh slide in Chinese stocks and disappointing earnings from Wal-Mart outweighed better-than-expected US housing data and Home Depot’s results. More >>
Dairy product prices increase for first time in six months
Wednesday, 19 August 2015, 7:02 am | BusinessDesk
Aug. 19 (BusinessDesk) - Dairy product prices jumped in the latest GlobalDairyTrade auction, rising for the first time in nearly six months on reduced volume of whole milk powder on offer. More >>
Fonterra calls for a halt to having to accept all milk
Tuesday, 18 August 2015, 5:43 pm | BusinessDesk
Fonterra calls for a halt to having to accept all milk and supply other large entrants More >>
MARKET CLOSE: NZ shares fall; Sky TV, Spark decline
Tuesday, 18 August 2015, 5:36 pm | BusinessDesk
Aug. 18 (BusinessDesk) - New Zealand shares fell as investors wait for more companies to report as the country's gloomier economic outlook hangs over the earnings season. Sky Network Television, Spark New Zealand and Fletcher Building declined. More >>
ASX-listed CSG agrees to buy NZ IT firm CodeBlue
Tuesday, 18 August 2015, 5:25 pm | BusinessDesk
ASX-listed CSG agrees to buy NZ IT firm CodeBlue for as much as $15 mln More >>
NZ dollar gains on expected overnight bounce in dairy prices
Tuesday, 18 August 2015, 5:13 pm | BusinessDesk
Aug. 18 (BusinessDesk) - The New Zealand dollar extended gains in local trading ahead of the overnight Tuesday GlobalDairyTrade auction, which is expected to see the first price rise for dairy commodities since early March. More >>
Low risk to NZ covered bonds from Akld property correction
Tuesday, 18 August 2015, 4:27 pm | BusinessDesk
Aug. 18 (BusinessDesk) - New Zealand's major banks' covered bonds, which stand at about $14 billion, are at low risk from any correction in the Auckland property market because they're backed by a 'cover' pool of mortgages with a relatively low loan ... More >>
