NZ dollar gains vs Aussie as kiwi comes back into favour

Article – BusinessDesk

May 29 (BusinessDesk) – The New Zealand dollar rose against its Australian counterpart on speculation that a relatively stronger domestic economy and lack of exposure to international commodity prices such as iron ore favour the kiwi over the Aussie. Read more »

Businesses over-egg the power of corporate tax cuts

Article – BusinessDesk

May 29 (BusinessDesk) – Cutting New Zealand’s 28 percent corporate tax rate is “not a panacea in the way business groups sometimes market it,” says Prime Minister Bill English. Read more »

Alternative infrastructure financing talks making headway

Article – BusinessDesk

May 29 (BusinessDesk) – Efforts to find new ways for local and central government to fund the new infrastructure required to allow new housing developments to occur are progressing after “intensive negotiations” with local government in … Read more »

MARKET CLOSE: NZ shares fall in light holiday trading

Article – BusinessDesk

May 29 (BusinessDesk) – New Zealand shares fell in quiet holiday trading as dual-listed banking stocks Australia and New Zealand Banking Group and Westpac Banking Corp weighed on the local market, while positive earnings spurred some buying interest in stocks … Read more »

Volpara narrows full year net loss, contract value increases

Article – BusinessDesk

May 29 (BusinessDesk) – Volpara Health Technologies, the Wellington-based, ASX-listed digital health company, narrowed its annual loss and said year-on-year growth, in terms of total contract value, continues to accelerate. Read more »

Cooperative Bank posts flat annual earnings

Article – BusinessDesk

May 29 (BusinessDesk) – The Cooperative Bank, which distributes rebates to its customer-shareholders, posted flat annual earnings as shrinking margins offset lending growth from an expanding customer base, and as impairment charges on bad debts rose. Read more »

Turners Automotive lifts annual profit 13%

Article – BusinessDesk

May 29 (BusinessDesk) – Turners Automotive Group lifted annual profit 13 percent after it acquired Buy Right Cars, expanding its vehicle retail unit. Read more »

Blis Technologies says orders still impacted

Article – BusinessDesk

May 29 (BusinessDesk) – Blis Technologies says regulatory processes surrounding ownership changes in a key customer are continuing to impact orders but it remains upbeat about its market opportunities, particularly in China, and expects to deliver a profit … Read more »

Property For Industry contract worth more than $42M

Article – BusinessDesk

May 29 (BusinessDesk) – Property For Industry’s management contract is worth more than the $42 million the industrial property investor will pay to bring the contract in-house, which should pave the way to higher dividends, says an independent appraisal … Read more »

Investore beats prospectus forecast

Article – BusinessDesk

May 29 (BusinessDesk) – Investore Property, the property investor spun out of Stride Property last year, posted an inaugural full-year profit as a listed company that beat its prospectus forecast after recording a stronger-than-expected increase in … Read more »

NZ dollar starts week on weaker footing

Article – BusinessDesk

May 29 (BusinessDesk) – The New Zealand dollar started the week on a weaker footing, with bank holidays in the US, China and the UK today likely to keep trading subdued, and after an upward revision in US economic growth underwhelmed the market Read more »

World Week Ahead: Data back in focus

Article – BusinessDesk

May 29 (BusinessDesk) – Investors will eye the latest US jobs data to gauge the odds the Federal Reserve might not raise interest rates as much this year as previously flagged. Read more »

New Zealanders’ confidence in financial markets improves

Article – BusinessDesk

May 29 (BusinessDesk) – Almost two-thirds of New Zealanders have confidence in the country’s capital markets, up from just over half last year, a Financial Markets Authority survey shows. Read more »

Banks Shoes chain latest retailer to call in receiver

Article – BusinessDesk

May 26 (BusinessDesk) – Banks Group, which runs 14 stores across the country under the brands including Banks Shoes and Shoe Connection, has been tipped into receivership at the request of director John Bank. Read more »

MARKET CLOSE: NZ shares rise, led by F&P Healthcare

Article – BusinessDesk

May 26 (BusinessDesk) – New Zealand shares rose, led by Fisher & Paykel Healthcare and Sky Network Television, while Ebos and Metro Performance Glass fell. Read more »

NZ dollar falls with Aussie as China downgrade mulled

Article – BusinessDesk

May 26 (BusinessDesk) – The New Zealand dollar fell along with the Australian dollar after officials at Moody’s Investors Service officials said China could face another credit rating downgrade if it doesn’t contain its debt mountain, while both currencies … Read more »

Govt edges towards review of low-user electricity tariff

Article – BusinessDesk

May 26 (BusinessDesk) – Electricity retailers are pushing for a government review of the 13-year-old low user electricity tariff following comments this week by Energy Minister Judith Collins that she is willing to seek advice on an issue long-stalled … Read more »

Trilogy meets guidance with 19% gain in full-year earnings

Article – BusinessDesk

May 26 (BusinessDesk) – Trilogy International posted a 19 percent gain in annual pretax earnings, meeting guidance, reflecting a full 12-month contribution from distributor CS & Co and stronger sales of its Trilogy beauty products, which offset the impact … Read more »

Zespri 2016/17 grower returns sag despite big jumps

Article – BusinessDesk

May 26 (BusinessDesk) – New Zealand’s statutory kiwifruit exporter, Zespri, achieved distributable profit for its grower shareholders of $34.8 million in the year to March 31 on a 19 percent increase in turnover of $2.26 billion. Read more »

RBNZ approves Wolfstrike’s purchase of lender FE investments

Article – BusinessDesk

May 26 (BusinessDesk) – The Reserve Bank has given the seal of approval to ASX-listed Wolfstrike Rentals Group to buy local financier FE Investments, the last hurdle the firms needed to cross in settling the deal. Read more »