Archive for the 'Article' Category

MARKET CLOSE: NZ shares rise as Z Energy purchase approved

Article – BusinessDesk

April 29 (BusinessDesk) – New Zealand shares rose after Z Energy gained regulatory approval to acquire rival petrol chains, increasing its market share, while Skellerup Holdings suffered after a profit downgrade. Read more »

Steel & Tube agrees to sell only independently tested mesh

Article – BusinessDesk

April 29 (BusinessDesk) – Steel & Tube Holdings has agreed to sell only seismic reinforcing steel mesh which has been independently tested, the Commerce Commission said. Read more »

Z shares at record as Caltex deal seen reducing competition

Article – BusinessDesk

April 29 (BusinessDesk) – Z Energy shares jumped to a record after the Commerce Commission approved its bid to buy rival Caltex and Challenge! petrol station chains, saying price coordination at some stations wasn’t enough to turn it down but that regions … Read more »

NZ building consents see-saw with 9.8% March fall

Article – BusinessDesk

April 29 (BusinessDesk) – New Zealand residential building consents fell in March, reversing gains February, led by declines in Otago, Tasman and Bay of Plenty. Read more »

NZ business confidence lifts in April

Article – BusinessDesk

April 29 (BusinessDesk) – New Zealand firms were more optimistic about the economic outlook this month as a buoyant construction sector remains central to the country’s growth in the coming year, ANZ Bank New Zealand says. Read more »

NZ building consents see-saw with 9.8% March fall

Article – BusinessDesk

April 29 (BusinessDesk) – New Zealand residential building consents fell in March, reversing gains February and led by a drop-off in Auckland Wellington and Otago while Canterbury recorded an increase. Read more »

OceanaGold reports record first-quarter gold output

Article – BusinessDesk

April 29 (BusinessDesk) – OceanaGold, the gold and copper miner, said it achieved record gold production from its Didipio mine in the Philippines in the first quarter and lifted group sales by 25 percent, although accounting adjustments dented profit. Read more »

Zespri to re-pack and release fruit after clearance

Article – BusinessDesk

April 29 (BusinessDesk) – Zespri International will re-pack and release the 1.7 million trays of kiwifruit it placed on hold this month, saying they pose no danger to consumers. Read more »

Tourism Holdings likely to exceed 2016 guidance

Article – BusinessDesk

April 29 (BusinessDesk) – Tourism Holdings will likely exceed its 2016 guidance as margins improve in New Zealand and Australia, giving the campervan rental company confidence to predict growth over 2017 and 2018. Read more »

Skellerup cuts earnings guidance again

Article – BusinessDesk

April 29 (BusinessDesk) – Skellerup Holdings cut its annual earnings guidance for a second time, projecting a lower profit than 2015 as weak milk, oil and gas prices around the world weigh on demand from the rubber goods maker’s customers. Read more »

NZX says 1st-qtr sales rise 9.6% as debt listings climb

Article – BusinessDesk

NZX says 1st-qtr sales rise 9.6% as debt listings climb, sees Ralec victory Read more »

Z cleared to buy Caltex assets, must sell 20 petrol stations

Article – BusinessDesk

April 29 (BusinessDesk) – Z Energy is allowed to buy the Caltex and Challenge! petrol station chains but must sell 19 of its retail sites and one truck-stop, the Commerce Commission has ruled in a split decision that acknowledges possible retail price … Read more »

NZ dollar gains as BOJ inaction weighs on greenback

Article – BusinessDesk

The New Zealand dollar rose after the Bank of Japan’s decision not to expand its stimulus measures drove up the yen against the greenback and left traders who were long US dollars looking for other currencies to transact with. Read more »

While you were sleeping: Icahn divests Apple

Article – BusinessDesk

April 29 (BusinessDesk) – Wall Street moved lower, giving up earlier gains, with Apple shares leading the turn after billionaire and activist investor Carl Icahn said he has sold his Apple stake. Read more »

While you were sleeping: Icahn divests Apple

Article – BusinessDesk

April 29 (BusinessDesk) – Wall Street moved lower, giving up earlier gains, with Apple shares leading the turn after billionaire and activist investor Carl Icahn said he has sold his Apple stake. Read more »

MARKET CLOSE: NZ shares rise; Sky TV, Fletcher Building gain

Article – BusinessDesk

MARKET CLOSE: NZ shares rise; Sky TV, Fletcher Building gain, Air NZ drops on oil recovery Read more »

Volatile day for kiwi dollar as central banks drive action

Press Release – BusinessDesk

The New Zealand dollar fell to its lowest level in more than a week against the yen after the Bank of Japan surprised the market by not expanding its monetary stimulus, rounding out a day of volatility tied to central bank actions. Read more »

Labour claims new Home-Start scheme “vastly underperforming”

Article – BusinessDesk

April 28 (BusinessDesk) – Labour has warned one of the government’s policies to help first-time buyers is “vastly underperforming” and having little impact in Auckland, New Zealand’s largest city. Read more »

Landmark EQC settlement

Article – BusinessDesk

April 28 (BusinessDesk) – The Earthquake Commission has cut a deal with 98 Canterbury homeowners that affirms the government entity’s responsibility to repair earthquake-damaged property to a ‘when new’ state, as well as covering repairs for undamaged parts of … Read more »

Fonterra says season-to-date milk collection down 3% in NZ

Article – BusinessDesk

April 28 (BusinessDesk) – Fonterra Cooperative Group says milk collection is down in both New Zealand and Australia in the first 10 months of the season, reflecting destocking in its home market in the face of low milk prices and unfavourable weather … Read more »

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