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BusinessDesk - Latest News [Page 867]

TeamTalk revises 1H profit expectations down on poor trading

Friday, 23 January 2015, 3:42 pm | BusinessDesk

Jan. 23 (BusinessDesk) - TeamTalk, the listed telecommunications firm, has revised down its profit expectations for the first half of the financial year to about $2 million less than what it achieved at the same time last year, forcing an early refinancing ... More >>

NZX 50 soars to fresh record in global equities rally

Friday, 23 January 2015, 2:41 pm | BusinessDesk

Jan. 23 (BusinessDesk) - The NZX 50 Index climbed to a fresh high as investors hunt for income paying investments on the prospect of interest rates staying lower for longer, as the European Central Bank embarks on a sovereign debt buying programme. More >>

UPDATE: Tainui's Mike Pohio resigns

Friday, 23 January 2015, 1:22 pm | BusinessDesk

Jan. 23 (BusinessDesk) - Mike Pohio, chief executive of Tainui Group Holdings, has resigned after eight years at the helm and as Waikato-Tainui reconsiders its capital commitment to a planned $3.3 billion transport hub north of Hamilton. More >>

Kathmandu appoints Xavier Simonet as new chief executive

Friday, 23 January 2015, 12:25 pm | BusinessDesk

Jan. 23 (BusinessDesk) - Kathmandu, the Christchurch-based outdoor clothing retailer, has appointed Xavier Simonet as its new chief executive who will relocate from London to Melbourne to take up the role. More >>

FMA warns trader on market manipulation

Friday, 23 January 2015, 11:43 am | BusinessDesk

Jan. 23 (BusinessDesk) - The Financial Markets Authority has formally warned an unnamed trader over market manipulation for buying the same shares they were trying to sell. More >>

Tanui CEO Pohio resigns after building $840M asset base

Friday, 23 January 2015, 11:20 am | BusinessDesk

Jan. 23 (BusinessDesk) - Tainui Group Holdings chief executive Mike Pohio has resigned after eight years at the helm to pursue governance opportunities. More >>

NZ govt operating deficit smaller than expected

Friday, 23 January 2015, 10:11 am | BusinessDesk

Jan. 23 (BusinessDesk) - The New Zealand's government's operating deficit was smaller than expected in the first five months of the financial year as a clampdown on expenditure managed to offset a shortfall in the tax-take from last month's forecast. More >>

Windflow to sack staff as UK, NZ energy markets remain slow

Friday, 23 January 2015, 9:31 am | BusinessDesk

Jan. 23 (BusinessDesk) - Windflow Technology, the unprofitable wind turbine manufacturer, will sack staff to reduce costs in the face of slow planning and production in the UK and weak demand in the New Zealand market. More >>

NZ dollar holds at 2 1/2 year low as investors mull outlook

Friday, 23 January 2015, 9:06 am | BusinessDesk

Jan. 23 (BusinessDesk) - The New Zealand dollar held at a key two-and-a-half year low as investors mull whether the currency is a good bet because of its high yield or whether it is risky bet given concern about slowing global growth. More >>

While you were sleeping: ECB exceeds expectations

Friday, 23 January 2015, 7:51 am | BusinessDesk

Jan. 23 (BusinessDesk) - Equity markets climbed after European Central Bank President Mario Draghi delivered a larger-than-expected quantitative easing program worth more than 1 trillion euros in an effort to fuel the euro-zone economy and ward off deflation. More >>

UPDATE: MPI, Zespri eye reports into Chinese importer

Thursday, 22 January 2015, 6:53 pm | BusinessDesk

Jan. 22 (BusinessDesk) - The Ministry for Primary Industries and Zespri International, the world’s largest kiwifruit marketer, are monitoring reports that staff at a Chinese company that imports a number of New Zealand's primary sector products have ... More >>

NZME notable absentee in All-of-Govt advertising panel

Thursday, 22 January 2015, 6:41 pm | BusinessDesk

Jan. 22 (BusinessDesk) - NZME, the New Zealand unit of APN News & Media, is a notable absentee in the panel for advertising media in the latest all-of-government procurement deal. More >>

New Zealand shares fell, led by Meridian, MRP

Thursday, 22 January 2015, 5:39 pm | BusinessDesk

Jan. 22 (BusinessDesk) - New Zealand shares fell, led by power companies Meridian Energy and MightyRiverPower as they dropped from record highs with investors looking to crystallise recent gains. Warehouse Group gained after James Pascoe Group upped ... More >>

NZ dollar falls as investors mull lower rates; ECB looms

Thursday, 22 January 2015, 5:08 pm | BusinessDesk

Jan. 22 (BusinessDesk) - The New Zealand dollar dropped to a two-and-a-half year low as investors speculate the central bank may have to lower interest rates after the Bank of Canada surprised markets with a rate cut yesterday, and ahead of Europe's ... More >>

Zespri investigates reported arrests of Chinese import agent

Thursday, 22 January 2015, 5:06 pm | BusinessDesk

Jan. 22 (BusinessDesk) - Zespri International, the world’s largest kiwifruit marketer, said it’s investigating reports that staff at one of its new import agents in China have been arrested by Chinese customs, although there's nothing to indicate any investigation ... More >>

CORRECT: James Pascoe increases stake in Warehouse to 7.4%

Thursday, 22 January 2015, 3:37 pm | BusinessDesk

Jan. 22 (BusinessDesk) - James Pascoe, the retail group owned by David and Anne Norman, has added to its holding in Warehouse Group by buying on market this week, as the shares traded at a near two-and-a-half year low. More >>

Contact signs deal with Maui that could see it use less gas

Thursday, 22 January 2015, 3:11 pm | BusinessDesk

Jan. 22 (BusinessDesk) - Contact Energy, one of New Zealand’s largest electricity generators and retailers, has signed a new deal with Maui Development Ltd to purchase between 22 and 26 petajoules of gas over a two-to-three-year period that significantly ... More >>