NZ dollar higher but rangebound ahead of Jackson Hole

Article – BusinessDesk

Aug. 21 (BusinessDesk) – The New Zealand dollar was slightly higher in a quiet start to the week as investors look ahead to a meeting of the world’s central bankers in Jackson Hole, Wyoming later this week. Read more »

CRCT: Vista buys control in Latin American reseller Senda

Article – BusinessDesk

(Fixes headline and 2nd paragraph to reflect partial valuation on acquisition, updates share price in 3rd paragraph) Read more »

Smiths City looks at expanding profitable finance unit

Article – BusinessDesk

Aug. 21 (BusinessDesk) – Smiths City Group sees a “significant opportunity” in building out its high margin finance business and is weighing up options to expand its offering, says chief executive Roy Campbell. Read more »

FMA expects settlement with Prince and Partners Trustee Co

Article – BusinessDesk

Aug. 21 (BusinessDesk) – The Financial Markets Authority expects to shortly reach a settlement with Prince and Partners Trustee Co just as civil proceedings kick off in the Auckland High Court. Read more »

UPDATE: Vodafone NZ back in black in hotly contested market

Article – BusinessDesk

Aug. 21 (BusinessDesk) – Vodafone New Zealand’s books were back in the black after three years in the red as the country’s biggest mobile operator boosted revenue in an increasingly competitive telecommunications sector. Read more »

Nib’s NZ earnings rise 36% in 2017

Press Release – BusinessDesk

Nib’s NZ earnings rise 36% in 2017 as OnePath acquisition makes full year contribution Read more »

Nats and Labour go head to head on road vs rail

Article – BusinessDesk

Aug. 21 (BusinessDesk) – The contest of transport policies between the National and Labour parties has heated up again with Labour leader Jacinda Ardern announcing plans to introduce passenger rail services between Auckland, Hamilton and Tauranga … Read more »

NZ structural log prices hit new record

Article – BusinessDesk

Aug. 21 (BusinessDesk) – New Zealand structural log prices hit a new record as local mills compete with the export market to secure supply to meet the demand from the busy domestic construction market. Read more »

Metro pulls plans to increase pool for directors’ fees

Article – BusinessDesk

Aug. 21 (BusinessDesk) – Metro Performance Glass will reduce annual non-executive directors’ fees rather than seek a mandate to increase the available fee pool at Thursday’s annual general meeting. Read more »

NZ Steel in A$100M profit turnaround, future more secure

Article – BusinessDesk

Aug. 21 (BusinessDesk) – Australian-owned New Zealand Steel achieved a A$100 million turnaround in underlying operating earnings in the year to June 30, following two years of deep cost-cutting, the sale of its Taharoa ironsands business, and a focus … Read more »

Vodafone NZ back in black as sales tick up

Article – BusinessDesk

Aug. 21 (BusinessDesk) – Vodafone New Zealand’s books were back in the black after three years in the red as the country’s biggest mobile operator boosted revenue in an increasingly competitive telecommunications sector. Read more »

NZ migration hits record in July despite more Kiwis leaving

Article – BusinessDesk

Aug. 21 (BusinessDesk) – New Zealand annual net migration rose to a record in July, driven by foreign immigrants, with the biggest groups coming from Australia, the UK and China Read more »

Heartland Bank to offer up to $150 million in five-year bond

Press Release – BusinessDesk

Aug. 21 (BusinessDesk) – Heartland Bank is offering up to $150 million of five-year fixed rate bonds to institutional and New Zealand retail investors and the funds will be used for general corporate purposes, it said in a release to the stock exchange. Read more »

Michael Hill annual profit rises 67%

Article – BusinessDesk

Aug. 21 (BusinessDesk) – Michael Hill International, the jewellery retailer founded by its namesake, boosted annual profit by two thirds as its Michael Hill chain grew steadily in its main markets of Australia and New Zealand and recorded stronger growth … Read more »

Selwyn Cushing to retire from Skellerup board

Article – BusinessDesk

Aug. 21 (BusinessDesk) – Skellerup Holdings has appointed former investment banker David Cushing to its board from which his father, Selwyn Cushing, will retire in October. Read more »

Vista buys controlling stake in Senda for $684k

Article – BusinessDesk

Aug. 21 (BusinessDesk) – Vista Group International has bought a 60 percent stake in Mexico’s Senda Direccion Tecnologica, giving it control of the Latin American reseller of the cinema analytics firm’s services. Read more »

NZ dollar gains as Bannon ousted

Article – BusinessDesk

Aug. 21 (BusinessDesk) – The New Zealand dollar rose as news that US President Donald Trump had dumped adviser Steve Bannon kept politics to the fore and traders looked ahead to the central bank meeting at Jackson Hole, Wyoming, where Federal Reserve … Read more »

World Week Ahead: Eyes on White House, Yellen

Press Release – BusinessDesk

Aug. 21 (BusinessDesk) – As central bankers from around the world including Federal Reserve chair Janet Yellen set to gather for their annual meeting in Jackson Hole, Wyoming, investors are closely watching the intensifying turmoil in the White House. Read more »

MARKET CLOSE: NZ shares up

Article – BusinessDesk

Aug. 18 (BusinessDesk) – New Zealand shares inched up, defying global market trends, with Tourism Holdings and Fletcher Building gaining while CBL Corp plunged. Read more »

NZ dollar heading for a 0.4% weekly fall in nervous markets

Article – BusinessDesk

Aug. 18 (BusinessDesk) – The New Zealand dollar was set to end the week 0.4 percent lower against the greenback on growing concerns that US President Donald Trump’s won’t be able to push through his pro-business agenda and in the wake of the attack … Read more »