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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 850]
Energy Mad to raise $2.24M in rights issue at 13% discount
Wednesday, 25 February 2015, 3:28 pm | BusinessDesk
Feb. 25 (BusinessDesk) - Energy Mad, the unprofitable energy efficient light bulb marketer, wants to raise up to $2.24 million in a discounted rights issue to firm up its books and help fund its growth plans. More >>
UPDATE: Kiwibank cancels cards after 2 ATMs hit by scam
Wednesday, 25 February 2015, 2:29 pm | BusinessDesk
Feb. 25 (BusinessDesk) - Kiwibank, the government owned lender and subsidiary of New Zealand Post, has taken urgent action and frozen some customer accounts after two of its ATMS were fitted with card skimming devices and funds were taken offshore. More >>
Auckland inner-city height restrictions weighing on supply
Wednesday, 25 February 2015, 2:12 pm | BusinessDesk
Feb. 25 (BusinessDesk) - New Zealand's government has taken a number of good steps to improve housing supply in Auckland, where prices have soared on a lack of new stock, but could take a look at height restrictions in the inner-city to address ... More >>
UPDATE: Ebos sees Asia opportunities in medium term
Wednesday, 25 February 2015, 2:04 pm | BusinessDesk
Feb. 25 (BusinessDesk) - Ebos, which is heading for a record profit this year, sees opportunities to expand into Asia in the medium term, possibly in partnership with its biggest shareholder, Hong Kong-based Zuellig. More >>
UPDATE: A2 Milk's premium payout attracts farmer interest
Wednesday, 25 February 2015, 2:01 pm | BusinessDesk
UPDATE: A2 Milk's premium payout attracts farmer interest with lower dairy prices this year More >>
Share trading before Xero capital raise "reeks": Forbarr
Wednesday, 25 February 2015, 1:46 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 >>
NZ Treasury to put more acid on Crown entity boards
Wednesday, 25 February 2015, 12:21 pm | BusinessDesk
Feb. 25 (BusinessDesk) - The New Zealand Treasury has pulled in private sector directors to give it advice on how to put Crown entity boards under more scrutiny so as to avoid another rapid deterioration such as witnessed by coal miner Solid Energy. More >>
Xero shares jump 21% after $147 million investment
Wednesday, 25 February 2015, 10:52 am | BusinessDesk
Feb. 25 (BusinessDesk) - Shares of Xero jumped 21 percent after US-based institutional funds invested $147.2 million via a share issue, doubling the cloud-based accounting firm's cash on hand. It also announced Dell executive Russell Fujioka will lead its ... More >>
More flight discounts ahead as Air NZ fleet expands
Wednesday, 25 February 2015, 10:34 am | BusinessDesk
Feb. 25 (BusinessDesk) - Kiwi travellers can expect competitive discounting on flights as Air New Zealand adds 12 percent capacity on its network in the next six months. More >>
Fletcher nabs Spark's Matt Crockett as head of heavy buildin
Wednesday, 25 February 2015, 10:32 am | BusinessDesk
Feb. 25 (BusinessDesk) - Fletcher Building has lured Matt Crockett away from Spark New Zealand to run its heavy building products division, one of two executive roles created when the company restructured its building and infrastructure products units ... More >>
Airwork 1H profit beats forecast
Wednesday, 25 February 2015, 10:18 am | BusinessDesk
Feb. 25 (BusinessDesk) - Airwork Holdings, the aviation service firm, lifted first-half profit 19 percent, beating its prospectus guidance, and has raised its annual earnings forecast after revising the residual value of its Boeing 737 aircraft. More >>
Metlifecare expects to increase FY profit about 13%
Wednesday, 25 February 2015, 10:15 am | BusinessDesk
Metlifecare expects to increase FY profit about 13% as it expands in high-value areas More >>
Tourism Holdings beats 1H guidance on reduced fleet
Wednesday, 25 February 2015, 10:12 am | BusinessDesk
Feb. 25 (BusinessDesk) - Tourism Holdings, the largest campervan rental business in Australia and New Zealand, more than doubled first-half profit, beating expectations, after cutting costs and fattening margins. More >>
Precinct 1H earnings rise 10%, raising $174M
Wednesday, 25 February 2015, 10:09 am | BusinessDesk
Feb. 25 (BusinessDesk) - Precinct Properties New Zealand, which has been rebalancing its portfolio to Auckland, reported a 10 percent gain in first-half earnings on better occupancy rates at its buildings and will raise $174.1 million to fund a major development ... More >>
Ebos lifts first-half profit 12%
Wednesday, 25 February 2015, 10:03 am | BusinessDesk
Feb. 25 (BusinessDesk) - Ebos, the healthcare and animal care products company, reported a 12 percent gain in first-half profit after lifting earnings in both its divisions and refinancing debt on more favourable terms. More >>
Wynyard FY loss doubles as drive for growth pushes sales up
Wednesday, 25 February 2015, 9:40 am | BusinessDesk
Feb. 25 (BusinessDesk) - Wynyard Group, the security software firm, reported a near-doubling in its annual loss as its push for large global contracts helped boost revenue 62 percent in its first full year as a listed company. More >>
Air NZ posts higher normalised earnings
Wednesday, 25 February 2015, 9:39 am | BusinessDesk
Feb. 25 (BusinessDesk) - Air New Zealand has posted a 6 per cent fall in net profit for the half year but had record normalised earnings before tax of $216 million, up 20 percent, driven by lower fuel prices and increased numbers of travellers. More >>
A2 Milk 1H profit tumbles 81% as listing costs, fees rise
Wednesday, 25 February 2015, 9:12 am | BusinessDesk
Feb. 25 (BusinessDesk) - A2 Milk Co, which markets milk with a protein variant said to have health benefits, said first-half profit fell 81 percent on costs for its planned ASX listing, lodged today, and for hiring consultants. More >>
NZ dollar holds steady after cautious Fed testimony
Wednesday, 25 February 2015, 8:47 am | BusinessDesk
Feb. 25 (BusinessDesk) - The New Zealand dollar was little changed overnight after Federal Reserve chair Janet Yellen failed to give an indication of when the US may start raising interest rates at her semi-annual testimony to the senate banking committee. More >>
While you were sleeping: Wall Street hits records
Wednesday, 25 February 2015, 7:50 am | BusinessDesk
Feb. 25 (BusinessDesk) - US equities and Treasuries gained after Federal Reserve Chair Janet Yellen signalled to a congressional committee that the improving economy is unlikely to warrant a rate increase for “at least the next couple of meetings”. More >>
