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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 953]
Freightways posts 3% gain in full-year profit
Monday, 18 August 2014, 11:03 am | BusinessDesk
Aug. 18 (BusinessDesk) - Freightways, New Zealand’s largest listed courier and data management company, posted a 3 percent gain in full-year profit, driven by growth in its express package and business mail business, and said it expects further growth ... More >>
TAG Oil earnings improve on shift to oil over gas
Monday, 18 August 2014, 10:36 am | BusinessDesk
Aug. 18 (BusinessDesk) - Onshore Taranaki oil and gas producer TAG Oil has shifted production heavily in favour of oil and away from natural gas between the first quarters of the current and the previous financial years, substantially improving its earnings ... More >>
Westpac, BNZ next up in bank fees' class suit
Monday, 18 August 2014, 10:31 am | BusinessDesk
Aug. 18 (BusinessDesk) - Westpac Banking Corp and Bank of New Zealand are the next two lenders to face a class suit over penalty fees. More >>
Contact Energy profit up 17.6% on new plant and hydro gains
Monday, 18 August 2014, 10:06 am | BusinessDesk
Aug. 18 (BusinessDesk) - The stars aligned for Contact Energy in the year to June 30, producing a 17.6 percent increase in net profit at $234 million and a second dividend increase for shareholders in two years, as a new geothermal power station ... More >>
Meridian beats forecast with 22% drop in FY profit
Monday, 18 August 2014, 9:41 am | BusinessDesk
Aug. 18 (BusinessDesk) - Meridian Energy, which went public in October with a listing of installment receipts, posted a 22 percent decline in full-year profit in a market where retail electricity demand was flat and wholesale prices fell. More >>
Hallenstein says annual profit falls 25%
Monday, 18 August 2014, 9:01 am | BusinessDesk
Aug. 18 (BusinessDesk) - Hallenstein Glasson said annual profit fell 25 percent as the listed clothing chain failed to gain enough momentum in the second half to make up for a lacklustre first six months of the year. More >>
NZ dollar little changed, Ukraine tensions rattle investors
Monday, 18 August 2014, 8:50 am | BusinessDesk
Aug. 18 (BusinessDesk) - The New Zealand dollar was little changed as tensions between Russia and the Ukraine continue to rattle uncertain investors. More >>
World Week Ahead: Economic reality check
Monday, 18 August 2014, 7:50 am | BusinessDesk
Aug. 18 (BusinessDesk) - Data to be released in the US and Europe in the days ahead will go a long way to determining whether the threat to global growth will prove transitory, and give investors a green light to push stock prices ever higher. More >>
MARKET CLOSE: NZ shares rise on Steel & Tube FY earnings; Xe
Friday, 15 August 2014, 5:47 pm | BusinessDesk
Aug. 15 (BusinessDesk) - New Zealand shares rose, led by Steel & Tube Holdings after it boosted annual profit 15 percent. Xero plunged to a 10-month low as investors weighed its valuation against its growth, while ERoad debuted at a premium on the ... More >>
Xero shares plunge as investors question US growth plans
Friday, 15 August 2014, 5:26 pm | BusinessDesk
Aug. 15 (BusinessDesk) - Shares of Xero dropped to their lowest level since October last year as investors weigh the high valuation of the cloud-based accounting software firm's share price against its US growth aspirations. More >>
NZ dollar heads for 0.4% weekly gain in lacklustre trading
Friday, 15 August 2014, 5:07 pm | BusinessDesk
Aug. 15 (BusinessDesk) - The New Zealand dollar is heading for a 0.4 percent weekly gain in what's been lacklustre trading, with little hard economic data driving direction. More >>
GPG shares plunge 16% since Wednesday on pension woes
Friday, 15 August 2014, 3:30 pm | BusinessDesk
Aug. 15 (BusinessDesk) - Shares of Guinness Peat Group have dropped 16 percent since announcing it is still grappling with its UK pension liability on Wednesday, while its sole investment, the Coats threadmaker unit, reported a near trebling of first-half ... More >>
Sproutman sells out to Golden Arches supplier
Friday, 15 August 2014, 1:45 pm | BusinessDesk
Aug. 15 (BusinessDesk) - A leading New Zealand supplier of fresh salad leaves and associated fresh produce, Snapfresh, has sold its burgeoning retail relationship with New Zealand's largest supermarket chains to US-owned Golden State Foods, a global ... More >>
UPDATE: ERoad shares climb as much as 13% in NZX debut
Friday, 15 August 2014, 1:19 pm | BusinessDesk
UPDATE: ERoad shares climb as much as 13% in NZX debut after $46 million IPO More >>
ERoad shares rise 11% in NZX debut after $46 million IPO
Friday, 15 August 2014, 11:36 am | BusinessDesk
Aug. 15 (BusinessDesk) - Shares of ERoad, the logistics and fleet management company, rose 11 percent on its NZX debut after its initial public offer raised $40 million in new capital to fund international growth plans. More >>
ANZ says NZ unit grabs market share in latest quarter
Friday, 15 August 2014, 11:01 am | BusinessDesk
Aug. 15 (BusinessDesk) - Australia & New Zealand Banking Group says its New Zealand unit grabbed market share of home and commercial lending in the latest quarter as an improving economy stoked credit growth. More >>
Turners Group lifts 1H profit 5.9%
Friday, 15 August 2014, 10:19 am | BusinessDesk
Aug. 15 (BusinessDesk) - Turners Group NZ, which this month changed its name from Turners Auctions, lifted first-half profit 5.9 percent as a strong New Zealand dollar lowered the cost of imported cars, helping attract customers with cheaper prices, ... More >>
Michael Hill annual profit falls 22% on declining margin
Friday, 15 August 2014, 10:18 am | BusinessDesk
Aug. 15 (BusinessDesk) - Michael Hill International, the jewellery chain that bears the name of its founder, posted a 22 percent drop in annual profit as its profit margin declined and it paid a settlement to the Australian Tax Office. More >>
Fonterra's farmgate milk price out of step with efficiency
Friday, 15 August 2014, 10:06 am | BusinessDesk
Aug. 15 (BusinessDesk) - The Commerce Commission says Fonterra Cooperative Group's decision to cut the last season's forecast payout to farmer shareholders by 55 cents per kilogram of milksolids below the result produced by its Farm Gate Milk Price ... More >>
Steel & Tube lifts profit 15% buoyed by Tata Steel purchase
Friday, 15 August 2014, 9:26 am | BusinessDesk
Aug. 15 (BusinessDesk) - Steel & Tube, which manufacturers steel building products, lifted annual profit 15 percent as its sales were boosted from its April purchase of a stainless steel goods maker. More >>
