Archive for the 'Article' Category

Kirkcaldie turns to first-half loss on tax writeoff

Article – BusinessDesk

April 28 (BusinessDesk) – Kirkcaldie & Stains turned to a first-half loss as sales fell and the Wellington department store operator wrote down a deferred tax asset. Read more »

NZ dollar extends slide vs. Aussie as iron ore rebound

Article – BusinessDesk

April 28 (BusinessDesk) – The New Zealand dollar extended its slide against the Australian dollar, which has been helped by a recovery in the price of iron ore, Australia’s biggest export commodity, to almost US$60 a tonne. Read more »

MARKET CLOSE: NZ shares rise, paced by DNZ on yield demand

Article – BusinessDesk

April 28 (BusinessDesk) – New Zealand shares rose, paced by DNZ Property Fund and MightyRiverPower, as investors sought income paying equities. Xero extended its decline. Read more »

Allied Farmers to raise up to $1.2M

Article – BusinessDesk

April 28 (BusinessDesk) – Allied Farmers, which owns a livestock business and has a holding company that is selling down loans and property assets acquired from Hanover and United Finance, plans to raise as much as $1.2 million to repay debt and provide … Read more »

Xero shares decline, as investors digest FY, US CFO loss

Article – BusinessDesk

April 28 (BusinessDesk) – Shares of Xero have dropped to the lowest level since the cloud-based accounting software firm announced its $147.2 million capital raising in February, as investors digest its full year result and the sudden departure of … Read more »

Just Water shareholders approve A$11M sale of Australia unit

Article – BusinessDesk

April 28 (BusinessDesk) – Just Water International, the water cooler and supplies business 79 percent owned by founder Tony Falkenstein, got the greenlight for the sale of its Australian business for A$11 million, a transaction that will leave it … Read more »

Giving welfare recipients choice increases costs

Article – BusinessDesk

April 28 (BusinessDesk) – Letting people choose how their government funds for social service are spent is likely to be more costly than traditional delivery through government agencies because people making choices tend to use their full entitlements, according … Read more »

Orion Health posts 7% increase in annual operating revenue

Article – BusinessDesk

April 28 (BusinessDesk) – Orion Health Group, the healthcare management software developer, posted a 7 percent increase in annual operating revenue as growth in the Asia Pacific, Europe and Middle East regions made up for a slowdown in North America. Read more »

NZF’s second reverse listing plan fails

Article – BusinessDesk

April 28 (BusinessDesk) – NZF Group, the listed financial services company blocked from liquidating earlier this year by its major noteholder, is mulling liquidation again, after plans to sell its listed shell for a reverse listing failed a second … Read more »

SLI Systems says second-half revenue will miss guidance

Article – BusinessDesk

April 28 (BusinessDesk) – SLI Systems, the online retail search engine developer, said revenue in the second half of its financial year will be less than expected because of a shortfall in American sales after it reorganised its sales team, and … Read more »

NZ dollar advances against weak US dollar ahead of Fed, RBNZ

Article – BusinessDesk

April 28 (BusinessDesk) – The New Zealand dollar advanced against a weaker US dollar as traders push out expectations for a US interest rate hike, with both the US Federal Reserve and New Zealand’s Reserve Bank scheduled to decide on interest rates on Thursday. Read more »

Reserve Bank likely to confirm no rate hike this Thursday

Article – BusinessDesk

April 28 (BusinessDesk) – The Reserve Bank will likely change its language in this weeks review of the official cash rate after a senior bank official last week said a hike in interest rates isnt being considered at present. Read more »

MARKET CLOSE: NZ shares rise; Spark, Meridian gain

Article – BusinessDesk

April 24 (BusinessDesk) – New Zealand shares rose, paced by Spark New Zealand and Meridian Energy, as investors sought dividend paying stocks. Xero dropped after it reported its full year loss nearly doubled. Read more »

Kiwi heads for 1.7% weekly fall as RBNZ rules out rate hike

Article – BusinessDesk

April 24 (BusinessDesk) – The New Zealand dollar is heading for a 1.7 percent decline this week after Reserve Bank assistant governor John McDermott ruled out interest rate hikes ahead of the central bank’s official cash rate review next week. Read more »

Chinese demand drives lamb wool price rises to 6-week high

Article – BusinessDesk

April 24 (BusinessDesk) – New Zealand lamb wool prices rose to a six-week high at auction yesterday on increased demand from China for the apparel fibre. Read more »

Spark’s market cap slips, as investors weigh competition

Article – BusinessDesk

April 24 (BusinessDesk) – Spark New Zealand, formerly Telecom Corp, has slipped from being the countrys largest listed company, as investors mull its transformation away from telecommunications and the risk of increased competition. Read more »

Fonterra reshuffles management team

Article – BusinessDesk

April 24 (BusinessDesk) – Fonterra Cooperative Group, the worlds largest dairy exporter, has changed two senior management roles in a bid to push its value-add strategy harder in the wake of shareholder criticism over its weak half-year financial … Read more »

Horticultural production tops $7B, led by wine and apples

Article – BusinessDesk

April 24 (BusinessDesk) – Horticultural production has topped $7 billion for the first time, with good growth in nearly all the main industries, including wine, apples, potatoes, and onions. Read more »

Pan Pacific independent directors reject Zeta offer

Article – BusinessDesk

April 24 (BusinessDesk) – Pan Pacific Petroleum’s independent directors have urged shareholders to reject a takeover offer from Zeta Resources, saying the proposal under-values the company and doesn’t include a sufficient premium for control. Read more »

Lubricant deal slips away as Commission nixes merger

Article – BusinessDesk

April 24 (BusinessDesk) – The Commerce Commission has ruled against a merger that would have seen New Zealand’s most popular brands of adult lubricant products merged under a single owner. Read more »

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