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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 945]
Kiwibank lifts FY profit 3%, eyes dividend in next 3 years
Friday, 29 August 2014, 12:09 pm | BusinessDesk
Aug. 29 (BusinessDesk) - Kiwibank, the state-owned lender, lifted annual profit 3 percent as it widened net interest margins, and is looking to start paying dividends to its owner in the next three years. More >>
NZ building consents rise 0.1% in July, led by Auckland
Friday, 29 August 2014, 12:04 pm | BusinessDesk
NZ building consents rise 0.1% in July, as Canterbury consents slow and Auckland picks up More >>
Mercer posts FY loss on new staff hires, tough Aust market
Friday, 29 August 2014, 11:28 am | BusinessDesk
Aug. 29 (BusinessDesk) - Mercer Group, the stainless steel manufacturer, reported an annual loss as it hired new staff to fuel future profit growth while trading conditions in Australia remained tough. More >>
Bathurst writes off full value of Buller coal project
Friday, 29 August 2014, 10:50 am | BusinessDesk
Aug. 29 (BusinessDesk) - Bathurst Resources has written off the total value of the assets covered by its Buller coal project as it hunkers down and waits for international coking coal market conditions to improve. More >>
TVNZ lifts annual profit 25% on flat ad revenue, quits Igloo
Friday, 29 August 2014, 10:25 am | BusinessDesk
Aug. 29 (BusinessDesk) - Television New Zealand, the state-owned broadcaster, lifted annual profit 25 percent, ahead of forecast and despite a dip in advertising revenue, while quitting its stake in the pay-TV Igloo joint venture with Sky Network Television. More >>
Delegat FY profit rises 3% as bigger volumes trump kiwi
Friday, 29 August 2014, 10:07 am | BusinessDesk
Aug. 29 (BusinessDesk) - Delegat Group, New Zealand's largest listed wine company, increased annual profit 3 percent as record volumes muted the impact of a stronger local currency. More >>
Scales first-half profit falls on European apple price fall
Friday, 29 August 2014, 10:00 am | BusinessDesk
Aug. 29 (BusinessDesk) - Scales Corp, the listed fruit and vegetables logistics company, said first-half profit fell 22 percent from a year earlier, reflecting lower apple prices and the one-off costs of its NZX listing. More >>
NZ Post annual profit falls 12%
Friday, 29 August 2014, 9:42 am | BusinessDesk
Aug. 29 (BusinessDesk) - New Zealand Post, the state-owned mail delivery service and trading bank owner, reported a 12 percent fall in annual profit as shrinking mail volumes were offset by gains in its Kiwibank and parcel businesses. More >>
Pumpkin Patch takes $12 mln charge against stores, IT system
Friday, 29 August 2014, 8:56 am | BusinessDesk
Aug. 29 (BusinessDesk) - Pumpkin Patch, which slashed its earnings forecast earlier this year, will take a $12 million charge to write down the value of stores and IT software, while posting underlying profit in line with guidance. More >>
NZ dollar slips as better US economic data buoys greenback
Friday, 29 August 2014, 8:26 am | BusinessDesk
Aug. 29 (BusinessDesk) - The New Zealand dollar slipped as the US dollar edged up following better-than-expected US economic data which lifted optimism about a recovery in the world's largest economy. More >>
While you were sleeping: Ukraine tension lifts bonds
Friday, 29 August 2014, 7:22 am | BusinessDesk
Aug. 29 (BusinessDesk) - Stocks fell, while US Treasuries rose, as concern about intensifying tension in Ukraine outweighed further evidence that the American economy is gathering strength. More >>
MARKET CLOSE: NZ shares slip from record led by Spark
Thursday, 28 August 2014, 5:37 pm | BusinessDesk
Aug. 28 (BusinessDesk) - New Zealand shares fell from a record, led by Spark New Zealand, as investors locked in gains ahead of next month's general election, which is creating some uncertainty in markets. Air New Zealand rose for a second day after ... More >>
NZ dollar holds gains as Aust capex beats expectations
Thursday, 28 August 2014, 5:19 pm | BusinessDesk
Aug. 28 (BusinessDesk) - The New Zealand dollar held gains today after Australian capital expenditure figures beat expectations, adding to optimism about the local economy after Fonterra Cooperative Group affirmed its forecast payout to farmers ... More >>
Hellaby sinks into the red on footwear writedown
Thursday, 28 August 2014, 2:22 pm | BusinessDesk
Aug. 28 (BusinessDesk) - Hellaby Holdings, the diversified investment company, sank into the red in the latest financial year as it wrote down the value of its footwear unit in a flat retail market. Still, it sweetened its dividend as underlying earnings ... More >>
NZX names new market "NXT" as it awaits FMA go-ahead
Thursday, 28 August 2014, 11:26 am | BusinessDesk
Aug. 28 (BusinessDesk) - NZX, the stock market operator, has revealed its new market with lighter disclosure requirements will be called NXT, as it waits on the final go-ahead from the Financial Markets Authority. More >>
Jetstar loses ground in NZ as Qantas plunges to A$2.84B loss
Thursday, 28 August 2014, 11:22 am | BusinessDesk
Aug. 28 (BusinessDesk) - Jetstar, the discount unit of Australian airline Qantas Airways, lost ground in New Zealand, while claiming better yields on key routes, as its parent plunged into the red after slashing the value of its international ... More >>
BCS Group leads TIN-100 manufacturing burst in 2014
Thursday, 28 August 2014, 11:07 am | BusinessDesk
Aug. 28 (BusinessDesk) - Baggage handling software and systems manufacturer BCS Group is the stand-out performer in the 2014 TIN-100 annual report on high tech New Zealand companies, growing total revenues 43 percent to more than $140 million in the latest ... More >>
Airports Association wants regulator to probe Air NZ charges
Thursday, 28 August 2014, 10:40 am | BusinessDesk
Aug. 28 (BusinessDesk) - The New Zealand Airports Association has called on the Commerce Commission to regulate Air New Zealand's regional fares, where the national carrier has an effective monopoly. More >>
Airwork annual profit climbs 52 percent, beating forecast
Thursday, 28 August 2014, 10:34 am | BusinessDesk
Aug. 28 (BusinessDesk) - Airwork Holdings, the aviation services firm which listed last December, boosted annual profit 52 percent on the strength of its helicopter engineering unit, beating guidance. The shares gained. More >>
A2 Milk to use Australian cash for global expansion
Thursday, 28 August 2014, 10:33 am | BusinessDesk
Aug. 28 (BusinessDesk) - A2 Milk Co, which markets milk with a protein variant said to have health benefits, will ramp up its expansion in the US, the UK and Asia using cash generated in its biggest market of Australia after a year in which a strong ... More >>
