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UPDATE: Synlait Milk almost doubles annual profit

Article – BusinessDesk

Sept. 19 (BusinessDesk) – Synlait Milk, the best performing stock on the benchmark NZX index this year, almost doubled annual profit and lifted its margins while outlining plans for further expansion into value-added dairy products. Read more »

Heartland needs access to wholesale funding

Article – BusinessDesk

Sept. 19 (BusinessDesk) – Heartland Bank’s Australian reverse mortgage business is constrained by Reserve Bank prudential rules and that’s why it needs to be carved out into a separate entity, says chair Geoff Ricketts. Read more »

NZ annual current account deficit widest in nine years

Article – BusinessDesk

Sept. 19 (BusinessDesk) – New Zealand posted its widest annual current account deficit in nine years in the June quarter as foreign-owned firms reaped bigger income from their domestic operations than Kiwi companies did overseas. Read more »

Synlait Milk almost doubles annual profit

Article – BusinessDesk

Sept. 19 (BusinessDesk) – Synlait Milk, the best performing stock on the benchmark NZX index this year, almost doubled annual profit and lifted its margins while outlining plans for further expansion into value-added dairy products. Read more »

Consumer confidence falls to six-year low

Article – BusinessDesk

Sept. 19 (BusinessDesk) – Consumer confidence fell to a six-year low in the September quarter as New Zealand households fret about the outlook for their own finances and the general economy, according to the latest Westpac McDermott Miller survey. Read more »

Near-record throughput at Marsden Point

Article – BusinessDesk

Sept. 19 (BusinessDesk) – The Marsden Point oil refinery processed a near-record 7.62 million barrels of oil during the past two months. Read more »

NZ dollar falls vs Aussie

Article – BusinessDesk

Sept. 19 (BusinessDesk) – The New Zealand dollar fell against its trans-Tasman counterpart as investors were buoyed by more moderate tariffs in the US-China trade stoush. Read more »

NZ banks accelerate lending in June quarter

Article – BusinessDesk

Sept. 19 (BusinessDesk) – New Zealand’s nine major lenders boosted lending at the fastest quarterly pace in almost two years as fears over bad debts subsided. Read more »

Increase in phishing reports

Article – BusinessDesk

Sept. 19 (BusinessDesk) – Closer ties between the government’s Computer Emergency Response Team and financial services firms saw reports of phishing attacks more than double in the June quarter. Read more »

Dairy product prices fall

Article – BusinessDesk

Sept. 19 (BusinessDesk) – Dairy product prices fell at the Global Dairy Trade auction as whole milk powder continued its slide amid increased supply. Read more »

Independent valuation of Tilt ‘very optimistic’ – Infratil

Article – BusinessDesk

Sept. 18 (BusinessDesk) – Some of the assumptions in an independent valuation of Tilt Renewables have resulted in a very optimistic view of the firms long-term prospects, suitor Infratil says. Read more »

MARKET CLOSE: NZ shares gain as yields remain attractive

Article – BusinessDesk

Sept. 18 (BusinessDesk) – New Zealand shares rose as high dividend yields from the likes of Spark New Zealand and NZX remain attractive for investors in a low interest rate environment. Read more »