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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 852]
Wrightson 1H earnings beat estimates, sees annual increase
Tuesday, 24 February 2015, 9:17 am | BusinessDesk
Feb. 24 (BusinessDesk) - PGG Wrightson, the rural services firm controlled by China's Agria Corp, beat expectations with a 47 percent gain in first-half profit, driven by improvements in its retail, livestock and seed & grain units, and said annual ... More >>
Geothermal exit, dry weather wallop Mighty River earnings
Tuesday, 24 February 2015, 9:15 am | BusinessDesk
Feb. 24 (BusinessDesk) - Electricity generator and retailer Mighty River Power declared a massive drop in earnings for the six months to Dec. 31, falling from $116 million in the comparable prior period to $8 million, largely reflecting one-off writedowns ... More >>
NZ dollar muted as investors await Fed's Yellen testimony
Tuesday, 24 February 2015, 8:13 am | BusinessDesk
Feb. 24 (BusinessDesk) - The New Zealand dollar was little changed as investors await US Federal Reserve chair Janet Yellen's semi-annual testimony to US lawmakers for clues as to when the world's largest economy may raise interest rates. More >>
While you were sleeping: Wall Street slides
Tuesday, 24 February 2015, 7:44 am | BusinessDesk
Feb. 24 (BusinessDesk) - Wall Street moved lower from record highs as investors awaited US Federal Reserve Chair Janet Yellen’s testimony to Congress, while a decline in oil prices also weighed on equities. More >>
Sky TV shares dip as investors react to loss of subscribers
Monday, 23 February 2015, 6:21 pm | BusinessDesk
Feb. 23 (BusinessDesk) - Shares of Sky Network Television dropped 0.9 percent today after the country’s dominant pay-TV operator delivered a strong first-half profit, but had a net loss of 8,707 subscribers. More >>
NZ at risk from growing fruit fly problem in Australia: Key
Monday, 23 February 2015, 5:51 pm | BusinessDesk
Feb. 23 (BusinessDesk) - New Zealand is facing greater risks from an expanding Queensland fruit fly population across the Tasman, and has contacted major export markets in response to the latest discovery of the pest, says Prime Minister John Key. More >>
MARKET CLOSE: NZ shares rise; Chorus gains after earnings
Monday, 23 February 2015, 5:41 pm | BusinessDesk
Feb. 23 (BusinessDesk) - New Zealand shares rose, paced by Chorus as its first-half earnings met with market expectations. Xero rose to a four-month high as a seller exited the stock. More >>
NZ dollar may extend decline as Fonterra payout, Yellen loom
Monday, 23 February 2015, 5:20 pm | BusinessDesk
Feb. 23 (BusinessDesk) - The New Zealand dollar fell against the greenback and may extend its slide on speculation drought in key farming areas will weigh on an economy that may have reached its cyclical peaks, while the Federal Reserve is expected to ... More >>
Sky TV first-half profit rises 13%
Monday, 23 February 2015, 3:55 pm | BusinessDesk
Feb. 23 (BusinessDesk) - Sky Network Television, the country’s dominant pay-TV operator, has reported increased profit and revenue for the first half despite a net loss of 8,707 subscribers. More >>
Xero shares climb 24% in one week as seller exits market
Monday, 23 February 2015, 3:08 pm | BusinessDesk
Feb. 23 (BusinessDesk) - Shares of Xero, the cloud-based accounting software firm, have jumped 24 percent over the past week, amid market speculation a large seller has left the market. More >>
Nib's NZ first-half earnings hurt by premium payback product
Monday, 23 February 2015, 2:42 pm | BusinessDesk
Feb. 23 (BusinessDesk) - Nib Holdings' New Zealand unit posted a 76 percent drop in first-half earnings as it recognised the liability of its premium payback product, even as premium revenue rose from a year earlier. More >>
NZ Dollar Outlook: Kiwi may decline as Yellen, Fonterra loom
Monday, 23 February 2015, 2:41 pm | BusinessDesk
NZ Dollar Outlook: Kiwi may decline in volatile trading as Yellen testimony, Fonterra payout loom More >>
Mediaworks returns to profit as radio boosts income
Monday, 23 February 2015, 2:04 pm | BusinessDesk
Feb. 23 (BusinessDesk) - Mediaworks Investments, the free-to-air broadcaster, has returned to profitability in its first 10 months under a new capital structure, with its radio business being the biggest contributor to earnings. More >>
UDPATE: Chorus to look at dividends once copper price set
Monday, 23 February 2015, 12:20 pm | BusinessDesk
Feb. 23 (BusinessDesk) - Chorus will move "relatively quickly" to resume paying dividends once the Commerce Commission sets the price for what the telecommunications network operator can charge for access to its copper line network. More >>
Kiwibank will start paying dividends to NZ Post this year
Monday, 23 February 2015, 12:09 pm | BusinessDesk
Feb. 23 (BusinessDesk) - Kiwibank, the banking unit of state-owned New Zealand Post, expects this year to 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 >>
Freightways 1H profit jumps 21% as sales, margins grow
Monday, 23 February 2015, 10:34 am | BusinessDesk
Feb. 23 (BusinessDesk) - Freightways posted a 21 percent gain in first-half profit after lifting sales and fattening margins at its courier and information management units, allowing the company to declare a record interim dividend. More >>
Heartland lifts 1H profit 41%, reverse mortgages add income
Monday, 23 February 2015, 9:58 am | BusinessDesk
Feb. 23 (BusinessDesk) - Heartland New Zealand, the bank formed from the merger of Marac Finance with Southern Cross and Canterbury building societies, increased first-half profit 41 percent as it focused on niche products and its home equity release business ... More >>
NZ Post increased 1H profit 41%, helped by Kiwibank
Monday, 23 February 2015, 9:46 am | BusinessDesk
Feb. 23 (BusinessDesk) - New Zealand Post, the state-owned mail delivery service, increased first-half profit 41 percent after selling its Australian Couriers Please business for A$95 million and as earnings rose at its Kiwibank unit. More >>
Chorus 1H profit falls 18%, meeting estimates
Monday, 23 February 2015, 9:41 am | BusinessDesk
Feb. 23 (BusinessDesk) - Chorus reported an 18 percent drop in first-half profit, meeting estimates, as the telecommunications network operator contends with regulated price cuts to sell access to its copper line network, while narrowing the forecast ... More >>
AWF to raise $14 mln in rights issue, names Bennett as CEO
Monday, 23 February 2015, 8:57 am | BusinessDesk
Feb. 23 (BusinessDesk) - AWF Group, the contract labour firm, plans to raise up $14 million in a rights issue to repay bank debt used to buy white-collar recruitment agency Madison last year, and named Madison boss Simon Bennett to take over as chief ... More >>
