Archive for the 'Article' Category

World Week Ahead: Data back in focus

Article – BusinessDesk

May 29 (BusinessDesk) – Investors will eye the latest US jobs data to gauge the odds the Federal Reserve might not raise interest rates as much this year as previously flagged. Read more »

New Zealanders’ confidence in financial markets improves

Article – BusinessDesk

May 29 (BusinessDesk) – Almost two-thirds of New Zealanders have confidence in the country’s capital markets, up from just over half last year, a Financial Markets Authority survey shows. Read more »

Banks Shoes chain latest retailer to call in receiver

Article – BusinessDesk

May 26 (BusinessDesk) – Banks Group, which runs 14 stores across the country under the brands including Banks Shoes and Shoe Connection, has been tipped into receivership at the request of director John Bank. Read more »

MARKET CLOSE: NZ shares rise, led by F&P Healthcare

Article – BusinessDesk

May 26 (BusinessDesk) – New Zealand shares rose, led by Fisher & Paykel Healthcare and Sky Network Television, while Ebos and Metro Performance Glass fell. Read more »

NZ dollar falls with Aussie as China downgrade mulled

Article – BusinessDesk

May 26 (BusinessDesk) – The New Zealand dollar fell along with the Australian dollar after officials at Moody’s Investors Service officials said China could face another credit rating downgrade if it doesn’t contain its debt mountain, while both currencies … Read more »

Govt edges towards review of low-user electricity tariff

Article – BusinessDesk

May 26 (BusinessDesk) – Electricity retailers are pushing for a government review of the 13-year-old low user electricity tariff following comments this week by Energy Minister Judith Collins that she is willing to seek advice on an issue long-stalled … Read more »

Trilogy meets guidance with 19% gain in full-year earnings

Article – BusinessDesk

May 26 (BusinessDesk) – Trilogy International posted a 19 percent gain in annual pretax earnings, meeting guidance, reflecting a full 12-month contribution from distributor CS & Co and stronger sales of its Trilogy beauty products, which offset the impact … Read more »

Zespri 2016/17 grower returns sag despite big jumps

Article – BusinessDesk

May 26 (BusinessDesk) – New Zealand’s statutory kiwifruit exporter, Zespri, achieved distributable profit for its grower shareholders of $34.8 million in the year to March 31 on a 19 percent increase in turnover of $2.26 billion. Read more »

RBNZ approves Wolfstrike’s purchase of lender FE investments

Article – BusinessDesk

May 26 (BusinessDesk) – The Reserve Bank has given the seal of approval to ASX-listed Wolfstrike Rentals Group to buy local financier FE Investments, the last hurdle the firms needed to cross in settling the deal. Read more »

Mitre 10 chair Dippie’s own stores still at odds with union

Article – BusinessDesk

May 26 (BusinessDesk) – Mitre 10 (New Zealand) chairman Martin Dippie’s Jacks Hardware and Timber is still wrangling with First Union over details of the hardware store operator’s first collective agreement some 3 1/2 years after talks began. Read more »

McIntosh must return ‘profits’, Supreme Court rules

Article – BusinessDesk

May 26 (BusinessDesk) – Former Ross Asset Management investor Hamish McIntosh can keep the $500,000 he invested with the failed Ross Asset Management but must return the fictitious profits, the Supreme Court has ruled in a majority decision. Read more »

Future Mobility Solutions lifts annual profit 24%

Article – BusinessDesk

May 26 (BusinessDesk) – Future Mobility Solutions posted a 24 percent gain in annual profit and said plans to seek a listing on an overseas market are now well advanced. Read more »

NZME/Fairfax appeal merger rejection

Article – BusinessDesk

May 26 (BusinessDesk) – NZME and Fairfax New Zealand have hired the Queens Counsel whose Court of Appeal arguments helped secure the Commerce Commission’s authorisation of competition-killing merger in the wool-scouring sector which the commission then … Read more »

AWF Madison bounces back from 2016 dip

Article – BusinessDesk

May 26 (BusinessDesk) – AWF Madison Group, the country’s biggest contract labour firm, has recovered from last year’s dip in earnings with a 13 percent increase in annual profit in an increasingly tight labour market. Read more »

NZ dollar slips as Opec production curbs disappoint

Article – BusinessDesk

May 26 (BusinessDesk) – The New Zealand dollar fell after the Organisation of Petroleum Exporting Countries agreed to extend production curbs that didn’t go as far as the market had expected, driving down the price of crude oil and weighing on commodity-linked … Read more »

While you were sleeping: Retail therapy for Wall St

Article – BusinessDesk

May 26 (BusinessDesk) – Wall Street rallied, sending the S&P 500 and the Nasdaq to record highs, on better-than-anticipated earnings from retailers including Best Buy and Sears. Read more »

MARKET CLOSE: NZ shares edge up as budget, earnings dominate

Article – BusinessDesk

May 25 (BusinessDesk) – New Zealand shares edged higher on relatively small volumes as investors were preoccupied with the government’s budget and a slew of earnings, including Metro Performance Glass, which reported a boost in sales on its Australian … Read more »

NZ dollar holds up as Joyce’s budget meets expectations

Article – BusinessDesk

May 25 (BusinessDesk) – The New Zealand dollar held above 70 US cents as Finance Minister Steven Joyce’s maiden budget met investors’ expectations in affirming a strong economic outlook, allowing tax adjustments and a hike in infrastructure spending. Read more »

BUDGET 2017: Crown land for house-build to cost $100M

Article – BusinessDesk

May 25 (BusinessDesk) – The government set aside $100 million to free up unused Crown land to help cater to its house-building programme announced before todays budget. Read more »

Mental health centre of govt’s social investment package

Article – BusinessDesk

May 25 (BusinessDesk) – The government has put mental health at the centre of its $321 million social investment programme, which it touts as spending large up front to reduce the long-term costs of problems ailing society. Read more »

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