Mark Powell to depart Warehouse by Feb 2016 after 4 years

Article – BusinessDesk

March 30 (BusinessDesk) – Mark Powell will step down as chief executive of Warehouse Group by February 2016 after 14 years, the last four as chief executive that saw him revamp the retailer’s so-called ‘Red Sheds’ and steer its online strategy. Read more »

NZ dollar slips ahead of dairy auction, US payrolls

Article – BusinessDesk

March 30 (BusinessDesk) – The New Zealand dollar fell ahead of key US manufacturing and employment reports, and before a dairy auction where buyers will have to absorb increased volumes of milk powder on offer. Read more »

REFILE: MARKET CLOSE: NZ shares follow ASX lower

Article – BusinessDesk

March 30 (BusinessDesk) – New Zealand shares fell paced by Xero, Spark New Zealand and other dual listed stocks as investors across the Tasman sold off stocks after a major capital raising. Meridian Energy fell ahead of its instalment receipt coming … Read more »

MARKET CLOSE: NZX follows ASX lower, paced by Spark, Xero

Article – BusinessDesk

March 30 (BusinessDesk) – New Zealand shares fell paced by Xero, Spark New Zealand and other dual listed stocks as investors across the Tasman sold off stocks after a major capital raising. Meridian Energy fell ahead of its instalment receipt coming … Read more »

Update: Synlait falls 12% on first-half loss; lower guidance

Article – BusinessDesk

March 30 (BusinessDesk) – Shares of Synlait Milk, which has taken a cornerstone stake in Sichuan New Hope Nutritional Foods Co to gain direct interest in a Chinese infant formula brand, fell as much as 12 percent after the dairy company turned in a first-half … Read more »

NZ employment confidence rises with optimism about earnings

Article – BusinessDesk

March 30 (BusinessDesk) – New Zealanders have become more confident about the labour market and confident they’ll be able to earn more in a growing economy. Read more »

NZ dollar may sink to 70 cts in 2015: BusinessDesk survey

Article – BusinessDesk

NZ dollar may sink to 70 US cents in 2015 on resurgent greenback: BusinessDesk survey Read more »

Synlait shares fall 12% after posting a first-half loss

Article – BusinessDesk

March 30 (BusinessDesk) – Shares of Synlait Milk, the dairy company which has taken a cornerstone stake in Sichuan New Hope Nutritional Foods Co to gain direct interest in a Chinese infant formula brand, fell 12 percent after it turned to a loss in the … Read more »

NZ puts seven new oil and gas areas put up for tender

Article – BusinessDesk

March 30 (BusinessDesk) – A total of seven new areas will be opened up to oil and gas exploration under its block offer tendering system, as the New Zealand government seeks to concentrate activity in a few strategically chosen areas. Read more »

Zespri says kiwifruit volumes back to pre-Psa volumes

Article – BusinessDesk

March 27 (BusinessDesk) – Zespri, the worlds largest marketing exporter, says this seasons volumes are forecast to be back to the levels they were prior to the Psa virus hitting the $1.3 billion industry four years ago. Read more »

Kiwi dollar falls against pound as BOE signals rate rise

Article – BusinessDesk

NZ dollar falls to one-week low vs British pound after BoE’s Carney says next move is up Read more »

World Week Ahead: All about the economy

Article – BusinessDesk

March 30 (BusinessDesk) – Investors will scrutinise the latest US jobs data this week, with private payrolls, weekly jobless claims and the governments official report at the end of a holiday-shortened week. Read more »

MARKET CLOSE: NZ shares rise as Fonterra Fund rebounds

Article – BusinessDesk

March 27 (BusinessDesk) – New Zealand shares rose, paced by Fonterra Shareholders’ Fund as the stock rebounded from a record low. Outside the benchmark index, Hallenstein Glassons advanced after reporting a 40 percent jump in first-half profit. Read more »

NZ dollar gains vs. Australian dollar on iron ore weakness

Article – BusinessDesk

March 27 (BusinessDesk) – The New Zealand dollar gained against its Australian counterpart on sliding prices for iron ore exported to China, that nation’s biggest market, while traders await a speech by US Federal Reserve chair Janet Yellen on Friday in the … Read more »

Failed Feltex case costs litigation funders $3.1M in costs

Article – BusinessDesk

March 27 (BusinessDesk) – Former directors of Feltex Carpets and promoters of its 2004 initial public offering have been awarded a scaled-up $3.1 million in costs after being found not liable for alleged disclosure failings in its prospectus. Read more »

NZ crossbred wool falls to two-month low

Article – BusinessDesk

March 27 (BusinessDesk) – New Zealand crossbred wool, which accounts for the majority of New Zealand’s production, fell to a two-month low at the South Island auction yesterday amid a stronger local currency and weaker buyer demand. Read more »

Inflation target at 2% risks overheated economy, BNZ says

Article – BusinessDesk

March 27 (BusinessDesk) – Targeting 2 percent annual inflation could force the Reserve Bank of New Zealand to cut interest rates too sharply and overheat the economy, says Bank of New Zealand, which suggests current low global inflation rates mean the local … Read more »

NZ milk powder futures drop as Fonterra lifts GDT volumes

Article – BusinessDesk

March 27 (BusinessDesk) – New Zealand whole milk powder futures dropped after Fonterra Cooperative Group said it will increase the volume of product it puts up for sale on the GlobalDairyTrade platform, suggesting prices may extend their decline in next … Read more »

Hallenstein lifts profit 40% as it claws back market share

Article – BusinessDesk

March 27 (BusinessDesk) – Hallenstein Glasson, the fast-fashion clothing chain, lifted first-half profit 40 percent, beating its guidance, as it clawed back market share in a competitive retail environment. Read more »

GIC-Goodman Property JV to extend Auckland CBD footprint

Article – BusinessDesk

March 27 (BusinessDesk) – Wynyard Precinct Holdings, a joint venture between Goodman Property Trust and Singapore government-owned GIC, has agreed to buy an office tower in Auckland’s Wynyard Quarter from Fletcher Building for $86.2 million. Read more »