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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 849]
Qantas back in the black as turnaround plan over-delivers
Thursday, 26 February 2015, 12:09 pm | BusinessDesk
Feb. 26 (BusinessDesk) - The Qantas Group, owner of Australia’s largest airline, is back in the black after posting a half-year net profit of A$203 million thanks to its three-year, A$2 billion transformation programme sheeting home benefits, lower ... More >>
NZ trade balance unexpectedly turns to surplus in January
Thursday, 26 February 2015, 11:42 am | BusinessDesk
Feb. 26 (BusinessDesk) - New Zealand's trade balance unexpectedly turned to a surplus in January as the impact of weaker crude oil prices on imports outpaced a decline in exports led by dairy products. More >>
NZ annual net migration rises to new record
Thursday, 26 February 2015, 11:41 am | BusinessDesk
Feb. 26 (BusinessDesk) - New Zealand's annual net migration rose to another record in January as fewer locals departed for Australia, while Indian student numbers continued to bolster the influx of new arrivals. More >>
UPDATE: Fonterra Shareholders' Council relieved at forecast
Thursday, 26 February 2015, 11:30 am | BusinessDesk
Feb. 26 (BusinessDesk) - Farmers will be relieved at today’s decision by Fonterra Cooperative Group, the world’s largest dairy exporter, to maintain its forecast payout to farmer shareholders for the current season at $4.70 per kilogram of milk ... More >>
Vital Healthcare 1H earnings drop 21% on bigger tax bill
Thursday, 26 February 2015, 10:55 am | BusinessDesk
Feb. 26 (BusinessDesk) - Vital Healthcare Property Trust, the country's biggest listed healthcare property investor, reported a 21 percent drop in first-half earnings as it faced a bigger tax bill relating to a lease transaction, having benefited from ... More >>
Up to 70 Shanton Fashions staff to lose their jobs
Thursday, 26 February 2015, 10:35 am | BusinessDesk
Up to 70 Shanton Fashions staff to lose their jobs in restructure prior to sale More >>
Veritas 1H profit falls on acquisition costs
Thursday, 26 February 2015, 10:25 am | BusinessDesk
Veritas 1H profit falls on acquisition costs; FY earnings to be at low end of guidance More >>
Intueri misses annual earnings forecast on NZ performance
Thursday, 26 February 2015, 10:18 am | BusinessDesk
Feb. 26 (BusinessDesk) - Intueri Education Group, New Zealand's largest private training college, missed its annual earnings forecast as its New Zealand businesses lagged behind expectations. More >>
UPDATE: Fonterra maintains forecast dairy payout
Thursday, 26 February 2015, 10:08 am | BusinessDesk
Feb. 26 (BusinessDesk) - Fonterra Cooperative Group, the world's biggest dairy exporter, maintained its forecast payout to farmer shareholders for the current season, saying recent gains in whole milk powder prices were due to reduced supply rather than increased ... More >>
T&G full-year profit falls 1.9% on processing, NZ losses
Thursday, 26 February 2015, 10:06 am | BusinessDesk
Feb. 26 (BusinessDesk) - Turners & Growers, the fruit marketer controlled by Germany's BayWa, posted a 1.9 percent drop in full-year profit as improved returns from its pipfruit business were offset by losses from processed foods and New Zealand ... More >>
Scales annual profit beats IPO forecast on apple exports
Thursday, 26 February 2015, 9:31 am | BusinessDesk
Feb. 26 (BusinessDesk) - Scales Corp, New Zealand's biggest apple exporter, reported a 9.8 percent drop in annual profit, beating its offer document forecast, after better-than-expected apple volumes drove up earnings in its horticulture division. More >>
Fonterra maintains forecast payout
Thursday, 26 February 2015, 8:57 am | BusinessDesk
Feb. 26 (BusinessDesk) - Fonterra Cooperative Group, the world's biggest dairy exporter, maintained its forecast payout to farmer shareholders for the current season, saying recent gains in whole milk powder weren't enough to warrant an increase. More >>
NZ dollar rises after Yellen seen pushing back rate hikes
Thursday, 26 February 2015, 8:26 am | BusinessDesk
Feb. 26 (BusinessDesk) - The New Zealand dollar rose, driven by weakness in the greenback after Federal Reserve chair Janet Yellen suggested the US central bank was in no hurry to raise interest rates. More >>
While you were sleeping: Wall Street lingers near records
Thursday, 26 February 2015, 7:55 am | BusinessDesk
Feb. 26 (BusinessDesk) - Wall Street edged higher, trading near record highs, as Federal Reserve Chair Janet Yellen gave a second day of testimony to Congress. More >>
NZ bank profits climb 20% in 2014 in face of cheaper funding
Wednesday, 25 February 2015, 7:04 pm | BusinessDesk
Feb. 25 (BusinessDesk) - New Zealand bank profits rose 20 percent to a record last year as low global interest rates made it easier for lenders to compete for mortgage customers in a highly competitive market. More >>
UPDATE: Air NZ sees fare discounts; yield pressure looms
Wednesday, 25 February 2015, 5:46 pm | BusinessDesk
Feb. 25 (BusinessDesk) - The only cloud on Air New Zealand’s horizon in coming months will be yield pressure as it faces more competition from foreign-owned airlines due to lower fuel costs while it’s adding significant capacity to its own network. More >>
MARKET CLOSE: NZX 50 rises to record, led by Xero
Wednesday, 25 February 2015, 5:32 pm | BusinessDesk
MARKET CLOSE: NZX 50 rises to record; Xero surges on more cash; Air NZ climbs More >>
NZ dollar gains after Yellen testimony
Wednesday, 25 February 2015, 5:09 pm | BusinessDesk
Feb. 25 (BusinessDesk) - The New Zealand dollar gained after testimony by Federal Reserve chair Janet Yellen left open the prospect for low interest rates to remain in place for a few more months in the US, while better than expected Chinese manufacturing ... More >>
Fitch affirms AA- credit ratings for big four NZ banks
Wednesday, 25 February 2015, 4:09 pm | BusinessDesk
Feb. 25 (BusinessDesk) - Fitch Ratings, the global rating agency, affirmed the credit ratings of New Zealand's four major Australian-owned banks, saying they have conservative risk appetite, strong profitability and sound asset quality that's expected to continue ... More >>
UPDATE: Trading before Xero capital raise 'reeks': Forbarr
Wednesday, 25 February 2015, 3:56 pm | BusinessDesk
Feb. 25 (BusinessDesk) - Share trading ahead of this morning's announcement of a $147.2 million capital-raising by Xero, which caused an unexplained jump in its share price, "reeks to high heaven," says David Price, the head of institutional ... More >>
