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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 854]
MARKET CLOSE: NZ shares fall led by Spark on earnings
Thursday, 19 February 2015, 5:35 pm | BusinessDesk
Feb. 19 (BusinessDesk) - New Zealand shares fell, led by Spark New Zealand after its first-half earnings fell short of market expectations. Skellerup Holdings paced the decline as it downgraded its profit outlook. Xero was issued a 'please explain' ... More >>
NZ dollar holds gains as US Fed queries global outlook
Thursday, 19 February 2015, 5:31 pm | BusinessDesk
Feb. 19 (BusinessDesk) - The New Zealand dollar held its gains in local trading after minutes to the US Federal Reserve's last policy meeting raised concerns about the global economic outlook and stoked speculation the US central bank will keep interest ... More >>
Shanghai Pengxin wants to lift NZ farm assets to $1 billion
Thursday, 19 February 2015, 4:04 pm | BusinessDesk
Shanghai Pengxin wants to lift NZ farm assets to $1 billion in next five years More >>
Port of Tauranga to buy super-post-Panamax cranes
Thursday, 19 February 2015, 3:51 pm | BusinessDesk
Port of Tauranga to buy super-post-Panamax cranes, tender for dredging in readiness for big ships More >>
Hellaby first-half profit jumps 36%, sees FY earnings growth
Thursday, 19 February 2015, 2:55 pm | BusinessDesk
Feb. 19 (BusinessDesk) - Hellaby Holdings posted a 36 percent gain in first-half profit, driven by improved performance in four of the diversified investor's five businesses, and said it on track to lift full-year earnings. More >>
Nuplex shares jump 6.7% on positive outlook for earnings
Thursday, 19 February 2015, 2:26 pm | BusinessDesk
Feb. 19 (BusinessDesk) - Nuplex Industries shares jumped 6.7 percent to a three-month high after the specialty chemicals maker confirmed it expects to meet its annual earnings forecast as it benefits from a reorganisation of its business. More >>
NZ consumer confidence dips in February, remains elevated
Thursday, 19 February 2015, 1:36 pm | BusinessDesk
Feb. 19 (BusinessDesk) - New Zealand consumer confidence dipped in February, while remaining elevated in the face of low interest rates and cheaper fuel. More >>
UPDATE: Spark shares fall 3.9% on slowing cost-cuts
Thursday, 19 February 2015, 1:02 pm | BusinessDesk
UPDATE: Spark shares fall 3.9% as slowing cost-cuts put pressure on second-half More >>
Fairfax first-half profit slumps on one-time charges
Thursday, 19 February 2015, 12:29 pm | BusinessDesk
Feb. 19 (BusinessDesk) - Fairfax Media reported little-changed first-half earnings of A$86 million, excluding the impact of A$56.6 million of redundancy and impairment costs that arose from the struggling trans-Tasman publisher and broadcaster's efforts ... More >>
Virgin's up-market push reduces losses
Thursday, 19 February 2015, 12:12 pm | BusinessDesk
Virgin's push for higher-yielding airline passengers pays off with A$26.5 million drop in net loss More >>
NZ producer prices fall in 4Q on dairy products, crude oil
Thursday, 19 February 2015, 12:11 pm | BusinessDesk
Feb. 19 (BusinessDesk) - New Zealand producer prices fell in the fourth quarter, reflecting the decline in prices of dairy products and crude oil, while livestock and meat prices rose. More >>
AMP's NZ unit lifts FY profit 4.6% on KiwiSaver growth
Thursday, 19 February 2015, 11:44 am | BusinessDesk
Feb. 19 (BusinessDesk) - AMP Financial Services New Zealand, the local operation of the Australian fund manager and insurer, lifted annual operating earnings as growth in its KiwiSaver funds helped cash flow to more than treble. More >>
Port of Tauranga in new Kotahi joint venture
Thursday, 19 February 2015, 11:30 am | BusinessDesk
Feb. 19 (BusinessDesk) - Port of Tauranga posted an 8.2 percent gain in first-half profit as a gain on the sale of a stake in Timaru Container Terminal to logistics group Kotahi made up for weaker sales. It doesn't expect earnings to grow in the ... More >>
Fonterra's Wilson says dairy prices at level to hit forecast
Thursday, 19 February 2015, 11:11 am | BusinessDesk
Feb. 19 (BusinessDesk) - Fonterra Cooperative Group chairman John Wilson said dairy prices need to be trading around the level of this week’s GlobalDairyTrade auction to hit the current seasonal forecast of $4.70 per kilogram of milksolids. More >>
Nuplex plans share buy-back, half-year jumps on abnormals
Thursday, 19 February 2015, 10:39 am | BusinessDesk
Feb. 19 (BusinessDesk) - Nuplex Industries, the specialty chemicals maker, more than tripled first-half earnings after it profited from the sale of two non-core businesses and because the year earlier period included significant one-time costs. More >>
Steel & Tube posts 35% gain in first-half profit
Thursday, 19 February 2015, 10:28 am | BusinessDesk
Feb. 19 (BusinessDesk) - Steel & Tube, New Zealand’s largest steel distribution company, lifted first-half profit by 35 percent, in line with expectations, following last year’s acquisition of S&T Stainless and an uplift in construction activity. More >>
Skellerup 1H profit falls 10%, missing forecast; shares fall
Thursday, 19 February 2015, 10:11 am | BusinessDesk
Feb. 19 (BusinessDesk) - Skellerup Holdings, the industrial rubber goods firm, said first-half profit fell 10 percent and annual earnings growth may stall after Australian mining customers delayed maintenance spending. More >>
Spark 1H profit falls 13% after streamlining operations
Thursday, 19 February 2015, 9:30 am | BusinessDesk
Feb. 19 (BusinessDesk) - Spark New Zealand's first-half profit fell 13 percent after the company formerly called Telecom slimmed down its business, selling assets such as AAPT in Australia. Guidance for annual earnings growth depended on the final regulatory ... More >>
NZ dollar spikes higher as US dollar drops after Fed minutes
Thursday, 19 February 2015, 9:05 am | BusinessDesk
Feb. 19 (BusinessDesk) - The New Zealand dollar rose, touching a fresh record against the Aussie dollar, after minutes of the Federal Reserve's last meeting suggested officials may favour keeping US interest rates lower for longer. More >>
While you were sleeping: Greece to seek extension
Thursday, 19 February 2015, 7:44 am | BusinessDesk
Feb. 19 (BusinessDesk) - Wall Street moved lower amid disappointing US economic data as investors awaited the release of the minutes of the January Federal Reserve meeting for fresh clues on the timing of an interest rate increase. More >>
