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Govt clamps down on web service providers after data breach

Article – BusinessDesk

Aug. 26 (BusinessDesk) – A swathe of government departments have been ordered not to use web and information communications technology service providers not on an approved list following disclosure of a major data privacy breach over the weekend. Read more »

NZ dollar rebounds in absence of feared yuan devaluation

Article – BusinessDesk

Aug. 26 (BusinessDesk) – The New Zealand dollar rebounded from its lowest level against the greenback since 2015 after the Peoples Bank of China didn’t severely devalue the yuan, as many had feared, in retaliation to US President Donald Trump escalating … Read more »

Balanced consenting framework needed for renewables

Article – BusinessDesk

Aug. 26 (BusinessDesk) – New Zealand requires a significant uplift in renewable generation investment if the country is to get anywhere close to its 2050 net-zero carbon target, Meridian Energy says. Read more »

Lumpy imports drive bigger July trade deficit than expected

Article – BusinessDesk

Aug. 26 (BusinessDesk) – New Zealand posted a much wider trade deficit than expected of $685 million in July but economists aren’t fazed, saying it was skewed by lumpy imports. Read more »

Freightways’ net profit rises despite NZ slowdown

Article – BusinessDesk

Aug. 26 (BusinessDesk) – Freightways reported a lift in earnings as it raises prices and seeks to increase its efficiency against the backdrop of a slowing economy. It is targeting year-on-year earnings growth in the current financial year. Read more »

Metlifecare lifts underlying annual net profit 4%

Press Release – BusinessDesk

Metlifecares annual net profit fell 68 percent because of smaller gains in the fair value of its retirement villages but underlying profit was up 4 percent and underlying operating cash flow rose 2 percent. Read more »

Chorus CEO McKenzie to leave this year

Article – BusinessDesk

Aug. 26 (BusinessDesk) – Chorus chief executive Kate McKenzie will leave the telecommunications lines company at the end of 2019, having overseen the completion of the ultrafast broadband fibre network’s first tranche. Read more »

Supreme Court to hold oral hearing on Synlait’s appeal

Article – BusinessDesk

Aug. 26 (BusinessDesk) – The Supreme Court has advised there will be an oral hearing prior to a decision on whether it grants Synlait Milk’s bid to a appeal the reinstatement of land covenants on its Pokeno site. Read more »

Meridian posts record profit on high production, prices

Article – BusinessDesk

Aug. 26 (BusinessDesk) – Meridian Energy reported record full-year earnings, boosted by higher power prices and generation volumes and a growing customer book in Australia. Read more »

Intuit on track to overtake Xero outside the US

Article – BusinessDesk

Aug. 26 (BusinessDesk) – United States-based Intuit increased its subscribers in the US at a steady pace in its fourth quarter but increased momentum in gains outside the US, suggesting it may soon overtake Xero as market leader. Read more »

Fasten seatbelts for the Trump twitter-storm fallout

Article – BusinessDesk

Aug. 26 (BusinessDesk) – It will be a case of fasten your seat belts and expect turbulence as markets across Asia open today after the escalation of the US-China trade war, US President Donald Trump’s tweets labelling his own Federal Reserve chair Jerome … Read more »

Analysts pan Fletcher results, one comparing it to Fonterra

Article – BusinessDesk

Aug. 26 (BusinessDesk) – Fletcher Building managing director Ross Taylors hopes that the market will recognise his achievements to date have been dashed. Read more »

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