Archive for the 'Article' Category

MARKET CLOSE: NZ shares mixed, Fletcher keeps falling

Article – BusinessDesk

July 21 (BusinessDesk) – New Zealand shares were mixed, with Fletcher Building continuing yesterday’s selling while Westpac Banking Corp and Australia & New Zealand Banking Group gave up gains. Read more »

NZ dollar recovers after RBA governor jawbones down Aussie

Article – BusinessDesk

July 21 (BusinessDesk) – The New Zealand dollar is heading for a 1 percent weekly gain against the greenback and moved higher against the Aussie after that nation’s central bank quelled the view that rate hikes might be on the horizon while New Zealand’s … Read more »

Telcos face competition for failure to innovate

Article – BusinessDesk

July 21 (BusinessDesk) – Telecommunications companies such as Chorus risk being left out of innovation led by the likes of Facebook and Google because the internet companies are creating new services without having to work with network owners, a telecoms … Read more »

NZ migration, tourism soar to new annual records

Article – BusinessDesk

July 21 (BusinessDesk) – New Zealand hit a new annual migration record last month as the country’s appeal lures more foreigners and better prospects here mean fewer Kiwis are tempted to move overseas. Read more »

NZ sees higher wool volumes at auction as stockpiles linger

Article – BusinessDesk

July 21 (BusinessDesk) – A higher volume of wool was offered at New Zealand’s latest weekly auction as stockpiles from last season come to market. Read more »

Vector customers, new connections rise in year to June

Article – BusinessDesk

July 21 (BusinessDesk) – Vector, the Auckland-based electricity and gas distributor, lifted its electricity and gas distribution customers as well as its natural gas sales in the year ended June 30 and installed more smart meters. Read more »

Adamson forfeits interest in $8 mln of shares

Article – BusinessDesk

July 21 (BusinessDesk) – Mark Adamson has forfeited $8 million in Fletcher Building shares after being dumped as chief executive at New Zealand’s largest construction and building materials company and losing his entitlement to its incentive scheme. Read more »

Dollar rises above 74 US cents for first time in 10 months

Article – BusinessDesk

July 21 (BusinessDesk) – The New Zealand dollar rose above 74 US cents for the first time in 10 months as the greenback fell against the euro after comments from European Central Bank president Mario Draghi that policymakers would consider winding back … Read more »

While you were sleeping: Sears teams up with Amazon

Article – BusinessDesk

July 21 (BusinessDesk) – Wall Street was mixed as a rally in shares of Sears following its deal with Amazon offset slides in other retailers including Home Depot, Lowes and Best Buy. Read more »

MARKET CLOSE: Fletcher Building plunges on Adamson ouster

Article – BusinessDesk

July 20 (BusinessDesk) – New Zealand shares fell, dragged lower by Fletcher Building hitting a six-week low, as the company’s board advised a second large earnings downgrade this year and the departure of its chief executive, Mark Adamson. Read more »

NZ dollar pares losses against Aussie

Article – BusinessDesk

July 20 (BusinessDesk) – The New Zealand dollar touched a fresh three-month low against the Australian dollar after strong Aussie jobs numbers, but pared some of its losses over the course of the day. Read more »

Judge orders Love and Skiffington’s Plimmerton house sold

Article – BusinessDesk

July 20 (BusinessDesk) – The Plimmerton house at the centre of Ngatata Love’s fraud case must be sold, as it is tainted by the proceeds of crime and its value is eroding as the mortgage is nearly $100,000 in arrears, a judge has ruled. Read more »

AFT Pharmaceuticals now licensed in 124 countries

Article – BusinessDesk

July 20 (BusinessDesk) – AFT Pharmaceuticals, which manufactures the Maxigesic painkiller, said it is now licensed in 124 countries worldwide after it inked a deal with a private European pharmaceutical company called Amicus SA Switzerland. Read more »

SkyCity comfortable with Fletcher delay on convention centre

Article – BusinessDesk

July 20 (BusinessDesk) – SkyCity says it’s comfortable with the “slight delay” from Fletcher Building in completing its $470 million convention centre, announced today as Fletcher’s share price has plunged following a profit downgrade and immediate … Read more »

BNZ considering IMF recommendations

Article – BusinessDesk

July 20 (BusinessDesk) – The Reserve Bank of has begun a process to review the relevant findings and recommendations from an International Monetary Fund review and is initially focused on whether greater alignment with international orthodoxy might contribute … Read more »

Government launches plan to close gender pay gap

Article – BusinessDesk

July 20 (BusinessDesk) – Women’s Minister Paula Bennett has today launched the first step of a plan to close the gender pay gap in New Zealand, which is the same as it was a decade ago. Read more »

Livestock Improvement swings to a full year profit

Article – BusinessDesk

July 20 (BusinessDesk) – Livestock Improvement Corp, the dairy herd genetics cooperative, turned to an annual profit after its biological bull team was revalued sharply higher and it was upbeat about the current financial year. Read more »

NZX to investigate Fletcher Building after company dumps CEO

Article – BusinessDesk

July 20 (BusinessDesk) – The New Zealand stock exchange said it will be investigating Fletcher Building’s additional profit warning for the year ended June 30 and the departure of chief executive and managing director Mark Adamson. Read more »

UPDATE: Fletcher dumps Adamson in face of dissatisfaction

Article – BusinessDesk

July 20 (BusinessDesk) – Fletcher Building has taken the unusual step of dumping its chief executive, Mark Adamson, who leaves immediately with the loss of share options and other incentives as the company slashed its full-year earnings guidance … Read more »

NZ dollar falls to two-month low vs Aussie

Article – BusinessDesk

July 20 (BusinessDesk) – The New Zealand dollar fell to a two-month low against a resurgent Australian dollar which reached a two-year high overnight as the price of iron ore rallied. Read more »

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