Solid Energy annual losses mount with another $110.6 mln in

Article – BusinessDesk

Oct. 31 (BusinessDesk) – Solid Energy posted its third annual loss in a row as the financially distressed state-owned coal miner wrote down the value of its export operations amid lower coal price assumptions, and warned of more red ink to come. Read more »

Update: China lifts temporary ban on Fonterra whey products

Article – BusinessDesk

Oct. 31 (BusinessDesk) – Chinese authorities have lifted a temporary ban on the importation of Fonterra Cooperative Group’s whey powder and dairy base powder used in the manufacture of infant formula that has been in place since August last year in the wake of the … Read more »

MARKET CLOSE: NZX 50 rises to a record; led by Ebos

Article – BusinessDesk

Oct. 31 (BusinessDesk) – New Zealand shares rose to a record led by Ebos Group amid optimist about its prospects in Australia as it signalled a 10 percent boost to first quarter trading. Steel & Tube and Fletcher Building were boosted by rising building … Read more »

China lifts ban on Fonterra whey powders

Article – BusinessDesk

Oct. 31 (BusinessDesk) – Chinese authorities have lifted a temporary ban on the importation of Fonterra Cooperative Group’s whey powder and dairy base powder used in the manufacture of infant formula that has been in place since August last year in the wake of the … Read more »

NZ dollar heads for 0.5% gain in October

Article – BusinessDesk

Oct. 31 (BusinessDesk) – The New Zealand dollar is heading for a 0.5 percent monthly gain as traders question the sharp appreciation in the greenback since the end of June after an optimistic outlook from the Federal Reserve. Read more »

Xero 3Q cash burn slows as customer receipts rise 19%

Article – BusinessDesk

Oct. 31 (BusinessDesk) – Xero, the cloud-based accounting firm, slowed its quarterly cash burn in the September quarter from the June period as customer receipts accelerated faster than staff costs. Read more »

Heartland affirms FY guidance

Article – BusinessDesk

Oct. 31 (BusinessDesk) – Heartland New Zealand, the bank formed through the merger of Canterbury and Southern Cross building societies with Marac Finance, affirmed its earnings guidance for the 2015 financial year, and sees annual consumer lending … Read more »

Air NZ, PT Garuda Indonesia win Australian cartel case

Article – BusinessDesk

Oct. 31 (BusinessDesk) – Air New Zealand and PT Garuda Indonesia have won their bid to dismiss action against them in Australia, claiming the airlines were part of a global cartel to fix prices in international air freight services. Read more »

Ebos 1Q trading up 10%, new CEO Davies says

Article – BusinessDesk

Oct. 31 (BusinessDesk) – Ebos Group, the healthcare and animal care products company, is tracking ahead of last year in the first three months of trading, as it beds in a much bigger focus in Australia after its 2013 acquisition of pharmaceutical firm … Read more »

Westland Milk proposes new investment share for farmers

Article – BusinessDesk

Oct. 31 (BusinessDesk) – Westland Milk Products, New Zealands second biggest dairy cooperative, is proposing a new capital structure that would see its shareholder farmers issued with investment shares annually on top of the existing milk share. Read more »

Ebos buys Australian BlackHawk pet food business for $57.8M

Article – BusinessDesk

Oct. 31 (BusinessDesk) – Ebos Group, the healthcare and animal care products company, has bought Australia’s BlackHawk Premium Pet Care pet food business for $57.8 million, which it expects will immediately add to earnings. Read more »

NZ new building permits drop in Sept on election uncertainty

Article – BusinessDesk

Oct. 31 (BusinessDesk) – New Zealand building consents fell at the fastest monthly pace in more than two years in September amid uncertainty around that month’s general election. Read more »

DNZ Property refinances $400 mln banking facility

Article – BusinessDesk

Oct. 31 (BusinessDesk) – DNZ Property Fund, the listed property investor, has refinanced its $400 million banking facilities, extending the expiry date on its loan. Read more »

OceanaGold Q3 profit falls on lower gold price; shares drop

Article – BusinessDesk

Oct. 31 (BusinessDesk) – Oceana Gold, which operates the Macraes goldfield in Otago, reported a 61 percent drop in third quarter profit as a lift in production in its Philippines operations was offset by declining gold prices. The company’s shares … Read more »

ANZ New Zealand boosts FY profit 17% on home loan growth

Article – BusinessDesk

Oct. 31 (BusinessDesk) – ANZ New Zealand boosted annual earnings 17 percent as the local unit of Australia & New Zealand Banking Group benefited from home loan lending growth and bedded down savings from the integration of the National Bank … Read more »

Intueri charged over student death at NZ diving school

Article – BusinessDesk

Oct. 31 (BusinessDesk) – Intueri Education Group, New Zealand’s largest private training institution, has been charged over the death of a foreign student enrolled at its diving school in April this year, just before the company floated. Read more »

AWF first-half profit jumps 54% on Madison acquisition

Article – BusinessDesk

Oct. 31 (BusinessDesk) – AWF Group, the contract labour firm, boosted first-half profit 54 percent as its white-collar Madison acquisition plumped up revenue, and will pay a bigger interim dividend. Read more »

NZ dollar gains as investors pare back bets on greenback

Article – BusinessDesk

NZ dollar gains as investors shy away placing more bets for the US dollar to gain Read more »

While you were sleeping: Visa, MasterCard rally

Article – BusinessDesk

Oct. 31 (BusinessDesk) – Wall Street rose after a report showing the US economy grew at a better-than-expected clip in the third quarter, while shares of Visa and MasterCard rallied after their latest earnings topped expectations. Read more »

MARKET CLOSE: NZX 50, Freightways rise to records

Article – BusinessDesk

Oct. 30 (BusinessDesk) – New Zealand shares rose to a record led by Freightways after a profit upgrade. Mainfreight and Restaurant Brands paced gains as investors hunted for yield investments after the Reserve Bank kept interest rates on hold. Read more »