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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 951]
Deutsche rates Xero a 'sell' with target price of $18.90
Wednesday, 20 August 2014, 3:34 pm | BusinessDesk
Aug. 20 (BusinessDesk) - Shares of Xero, the cloud-based accounting software firm, are overvalued on US growth prospects and have been rated a 'sell' by Deutsche Bank as it initiates coverage of the company. More >>
Partial post-Hager poll shows National holding steady
Wednesday, 20 August 2014, 3:00 pm | BusinessDesk
Aug. 20 (BusinessDesk) - The first poll to test voter reaction to last week's publication of the "Dirty Politics" book shows the government maintaining its lead over the Labour Party, rising 2 percentage points to 48 percent, while Labour has ... More >>
F&P Healthcare lifts full-year profit guidance 3%
Wednesday, 20 August 2014, 2:46 pm | BusinessDesk
Aug. 20 (BusinessDesk) - Fisher & Paykel Healthcare raised its annual profit forecast by 3 percent, saying the New Zealand dollar is boosting the value of respiratory and breathing apparatus sold overseas. The shares rose to the highest in at least ... More >>
Airways sees 27% gain in 2015 profit, misses 2014 target
Wednesday, 20 August 2014, 2:20 pm | BusinessDesk
Aug. 20 (BusinessDesk) - Airways Corp. of New Zealand expects to boost profit 27 percent this year, after missing its target last year, on optimism the state-owned air traffic controller's global commercial partnerships will start to bear fruit. More >>
UPDATED: Fletcher to cut costs, protect margins in 2015
Wednesday, 20 August 2014, 2:09 pm | BusinessDesk
Aug. 20 (BusinessDesk) - Fletcher Building is counting on cost savings and a backlog of construction work in New Zealand to help drive earnings growth in 2015, which started from a lower base after the sale of assets and completion of major contracts. More >>
Landcorp cuts FY15 earnings guidance on lower dairy payout
Wednesday, 20 August 2014, 1:13 pm | BusinessDesk
Aug. 20 (BusinessDesk) - Landcorp Farming, the state-owned commercial farmer, slashed guidance for 2015 earnings after falling global dairy prices prompted Fonterra Cooperative Group to trim its forecast payout to farmers. More >>
Acurity board tells shareholders to wait for takeover report
Wednesday, 20 August 2014, 11:29 am | BusinessDesk
Aug. 20 (BusinessDesk) - Acurity Healthcare Group's independent directors committee says Connor Healthcare is reviewing its takeover offer for the 29 percent of the company it doesn't own, including the price, and that shareholders should wait for ... More >>
UPDATE: Trade Me profit growth slows in 2014
Wednesday, 20 August 2014, 11:16 am | BusinessDesk
Aug. 20 (BusinessDesk) - Trade Me Group, New Zealand's largest online auction site, posted slower profit growth for 2014 and warned earnings would remain "subdued" in the coming year as it reinvests in its business. More >>
APN 1H profit climbs 77%
Wednesday, 20 August 2014, 11:10 am | BusinessDesk
Aug. 20 (BusinessDesk) - APN News & Media, publisher of the New Zealand Herald newspaper, boosted first half profit 77 percent as year-earlier charges washed through, buoyed by Australian and radio operations. More >>
FMA files suit against trustee Prince and Partners
Wednesday, 20 August 2014, 10:35 am | BusinessDesk
Aug. 20 (BusinessDesk) - The Financial Markets Authority has filed civil proceedings against Prince and Partners Trustee Co over its role as trustee of failed finance company Viaduct Capital, the first such case the FMA has taken against a trustee ... More >>
MRP exceeds prospectus forecasts as Heffernan signs off
Wednesday, 20 August 2014, 10:23 am | BusinessDesk
Aug. 20 (BusinessDesk) - Tight cost control and reduced sales to commercial and industrial customers at low prevailing wholesale electricity prices were primary contributors to state-controlled electricity generator and retailer MightyRiverPower turning in ... More >>
Fletcher FY profit rises 4% as currency, charges mask growth
Wednesday, 20 August 2014, 10:10 am | BusinessDesk
Aug. 20 (BusinessDesk) - Fletcher Building, the biggest company on the NZX 50 Index, posted a 4 percent gain in full-year profit, saying strong underlying earnings growth was masked by the impact of a high kiwi dollar and one-time charges against assets ... More >>
Trade Me profit growth slows in 2014
Wednesday, 20 August 2014, 9:49 am | BusinessDesk
Aug. 20 (BusinessDesk) - Trade Me Group, New Zealand's largest online auction site, posted slower profit growth for 2014 and warned earnings would remain "subdued" in the coming year as it reinvests in its business. More >>
Pumpkin Patch chair Freeman joins Kiwi Income board
Wednesday, 20 August 2014, 9:43 am | BusinessDesk
Aug. 20 (BusinessDesk) - Jane Freeman, chair of childrenswear retailer Pumpkin Patch, has been appointed to the board of listed property investor Kiwi Income Property Trust's manager. More >>
Dairy auction may point to price stabilisation
Wednesday, 20 August 2014, 9:02 am | BusinessDesk
Dairy product prices recorded their mildest decline in five auctions overnight, although a bounce back in whole milk powder may not point to rising Chinese demand yet, economists say. More >>
NZ dollar declined amid lower growth forecasts, dairy prices
Wednesday, 20 August 2014, 8:34 am | BusinessDesk
Aug. 20 (BusinessDesk) - The New Zealand dollar fell as investors speculate that lower growth and inflation expectations and weaker dairy prices may slow the pace of interest rate increases by the Reserve Bank which has signalled it wants to move ... More >>
While you were sleeping: Home Depot lifts market
Wednesday, 20 August 2014, 7:27 am | BusinessDesk
Aug 20 (BusinessDesk) - Wall Street gained after a report showed US housing starts rose to the highest level in eight months, while Home Depot posted better-than-expected earnings, bolstering hope that the American real estate market is finally showing ... More >>
Dairy product prices slip to two-year low
Wednesday, 20 August 2014, 4:44 am | BusinessDesk
Aug 20 (BusinessDesk) - Dairy product prices slipped to the lowest level in two years in the latest GlobalDairyTrade auction, as lower prices for skim milk powder and cheddar outweighed increases for butter and anhydrous milk fat. More >>
MARKET CLOSE: NZ shares rise as kiwi falls; Fletcher gains
Tuesday, 19 August 2014, 5:50 pm | BusinessDesk
Aug. 19 (BusinessDesk) - New Zealand shares rose, paced by companies with trans-Tasman exposure such as Fletcher Building, Westpac Banking Corp and Australian and New Zealand Banking Group, as the kiwi dropped versus the Australian dollar.. More >>
NZ dollar break below 90.50 Aust cts ahead of dairy auction
Tuesday, 19 August 2014, 5:06 pm | BusinessDesk
Aug. 19 (BusinessDesk) - The New Zealand dollar fell below a key support level against the Australian dollar and weakened against the greenback as traders took advantage of weaker producer prices and government economic forecasts to sell the kiwi ahead ... More >>
