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Terra Vitae says poor harvest to hit sales, earnings

Article – BusinessDesk

May 20 (BusinessDesk) – Grape grower Terra Vitae has warned earnings will be reduced by a poor harvest. Read more »

Weak services sector growth raises concerns about slowdown

Article – BusinessDesk

May 20 (BusinessDesk) – New Zealands services sector activity slipped further in April, touching the lowest level in more than six years and adding to concerns about an economic slowdown. Read more »

Kiwi Property lifts annual profit 15% as valuations rise

Article – BusinessDesk

May 20 (BusinessDesk) – Kiwi Property Group says annual net profit rose 15 percent, driven mainly by the rising values of its properties. Read more »

Scales signals earnings growth from reshaped business

Article – BusinessDesk

May 20 (BusinessDesk) – Scales Corp says full-year operating earnings from its reshaped business may rise as much as 13 percent. Read more »

Steel & Tube cuts earnings outlook on margin squeeze

Article – BusinessDesk

May 20 (BusinessDesk) – Steel & Tube Holdings has cut its earnings outlook as margins remain under pressure, and after restating its year-earlier accounts gave it a lower starting point. Read more »

Bankers’ Assn says RBNZ proposals would hurt the economy

Article – BusinessDesk

May 20 (BusinessDesk) – The New Zealand Bankers’ Association is calling for a rethink of the Reserve Banks bank capital proposals to avoid hurting the economy. Read more »

Northland rail upgrade a strategic investment

Article – BusinessDesk

May 20 (BusinessDesk) – Building a new rail link to Marsden Point and upgrading the existing Northland line could bring forward Northports development as a major freight handler for Auckland and help boost the broader regional economy, an economic … Read more »

NZD slightly weaker against Aussie after surprise victory

Article – BusinessDesk

May 20 (BusinessDesk) – The New Zealand dollar was slightly weaker against its trans-Tasman counterpart – and may come under more pressure – after Australia’s centre-right government won a surprise election victory over the weekend. Read more »

Fed speechs, Australian election outcome to impact NZ market

Article – BusinessDesk

May 20 (BusinessDesk) – A plethora of United States Federal Reserve speakers at the Atlanta Fed’s annual meeting this week ought to shed further light on where global interest rates are going. Read more »

Infratil confident of Vodafone clearance

Article – BusinessDesk

May 20 (BusinessDesk) – Infratil is confident its purchase of Vodafone New Zealand will be approved by regulators and says it has no interest in selling out of Trustpower to help secure a deal. Read more »

National sticks to bob-each-way on US-China relations

Article – BusinessDesk

May 20 (BusinessDesk) – The National Party proposes ambitious new trade targets for New Zealand’s relations with both China and the United States in a foreign affairs discussion document released this morning for public consultation. Read more »

MARKET CLOSE: NZ shares rise; trading quiet

Article – BusinessDesk

May 17 (BusinessDesk) – New Zealand shares rose in quiet trading, as investors prepare for a flurry of earnings next week. Infratil entered a trading halt for the first tranche of a $400 million capital raising. Read more »