Archive for the 'Article' Category

MARKET CLOSE: NZX 50 climbs to new record, led by RBD

Article – BusinessDesk

Oct. 23 (BusinessDesk) – New Zealand shares rose to a new record close, led by Restaurant Brands New Zealand after the country’s biggest fast-food operator boosted its annual earnings guidance. Spark New Zealand pace gains as investors sought defensive stocks … Read more »

RESEND: NZ dollar falls as benign inflation weighs on kiwi

Article – BusinessDesk

Oct. 23 (BusinessDesk) – The New Zealand dollar fell after figures showed inflation in the third quarter was slower than the Reserve Bank had forecast, giving it less reason to resume raising interest rates after pausing its tightening cycle in July. Read more »

Fonterra starts consultation on two new SI milk driers

Article – BusinessDesk

Oct. 23 (BusinessDesk) – Fonterra Co-operative Group, the world’s biggest dairy exporter, has begun a consultation process prior to lodging consent applications to build two new high-efficiency milk powder driers at its Studholme site in South Canterbury. Read more »

NZ dollar falls as benign inflation data weighs on kiwi

Article – BusinessDesk

Oct. 23 (BusinessDesk) – The New Zealand dollar fell after figures showed inflation in the third quarter was slower than the Reserve Bank had forecast, giving it less reason to resume raising interest rates after pausing its tightening cycle in July. Read more »

CarbonScape seeks $1.5M from crowd with ‘green coke’ offer

Article – BusinessDesk

Oct. 23 (BusinessDesk) – CarbonScape, which makes “green” coking charcoal, wants to raise as much as $1.5 million from equity crowd funding to commercialise its product for the steel manufacturing market. Read more »

Port of Tauranga sees annual earnings growth up to 6.1%

Article – BusinessDesk

Oct. 23 (BusinessDesk) – Port of Tauranga, the country’s biggest coastal export hub, sees annual earnings growth of up to 6.1 percent and expects to finish plans to enable big ships to dock at its wharves over the coming year. Read more »

BNZ CEO Healy calls on business leaders to help improve NZ

Article – BusinessDesk

BNZ chief executive Healy calls on business leaders to help fix five key NZ challenges Read more »

Auckland Airport confirms earnings guidance of $160-$170 mln

Article – BusinessDesk

Oct. 23 (BusinessDesk) – Auckland International Airport, the countrys main gateway, has confirmed its likely to deliver an underlying net profit of between $160 million and $170 million this financial year, in line with the guidance it gave in August. Read more »

Elders Primary Wool, Primary Wool buy Christchurch Yarns NZ

Article – BusinessDesk

Oct. 23 (BusinessDesk) – NZ Yarn, a joint venture between Elders Primary Wool and Primary Wool Cooperative, have bought Christchurch Yarns NZ out of receivership for an undisclosed amount. Read more »

RBNZ risk management to protect system, not individual firms

Article – BusinessDesk

Oct. 23 (BusinessDesk) – The Reserve Bank’s risk management processes aim to protect the integrity of the entire financial system rather than individual entities, which should be allowed to fail to avoid moral hazard and inefficiency, the regulator says. Read more »

Pyne Gould sells Epic stake after failing to gain control

Article – BusinessDesk

Oct. 23 (BusinessDesk) – Pyne Gould Corp, the asset management firm controlled by managing director George Kerr, has sold its 27 percent stake in Equity Partners Infrastructure Co No 1 after failing to take control of the investment company and oust its board. Read more »

NZ dollar drops after tepid inflation opens path lower

Article – BusinessDesk

Oct. 23 (BusinessDesk) – The New Zealand dollar fell about half a US cent after tepid local inflation pushed out the likely timeline for future interest rate hikes and cleared the way for a lower currency. Read more »

Fletcher wins govt contract to build 237 homes in Chch

Article – BusinessDesk

Oct. 23 (BusinessDesk) – Fletcher Building has won a contract to build 237 homes on an 11.5-hectare Crown-owned site in Christchurch, including 89 which will be priced below $400,000, Housing Minister Nick Smith said. Read more »

Restaurant Brands raises annual profit forecast; shares jump

Article – BusinessDesk

Oct. 23 (BusinessDesk) – Restaurant Brands New Zealand, the nation’s largest fast food operator, raised its annual profit forecast as it benefits from lower input costs, higher sales and restructuring of stores. The shares rose to a record. Read more »

NZ 3Q inflation misses expecations; kiwi drops

Article – BusinessDesk

Oct. 23 (BusinessDesk) – New Zealand inflation was steady in the third quarter of the year, slowing the annual pace of price increases, and raising the prospect of interest rates staying lower for longer after the data fell short of expectations. … Read more »

Wheeler says LVR policy worth 25-50 basis points off OCR

Article – BusinessDesk

Oct. 23 (BusinessDesk) – The Reserve Bank’s introduction of limits to low-equity mortgage lending last year had a similar impact on inflation as raising the official cash rate by as much as 50 basis points, governor Graeme Wheeler told a global banking … Read more »

NZ dollar falls ahead of inflation on prospect of low rates

Article – BusinessDesk

NZ dollar weakens ahead of 3Q inflation on speculation interest rates to stay on hold Read more »

While you were sleeping: Boeing shares, oil drop

Article – BusinessDesk

Oct. 23 (BusinessDesk) – Wall Street slid paced by Boeing as investors worried about expenses for its 787 Dreamliner passenger jet, while oil fell after a report showed US inventories rose more than expected last week. Read more »

Shell and Todd caught drilling without approval

Article – BusinessDesk

Oct. 22 (BusinessDesk) – Multi-national oil company Shell’s New Zealand arm and local energy giant Todd Energy have breached the new law governing New Zealand’s Exclusive Economic Zone, the Environmental Protection Authority says in an Oct. 10 document … Read more »

MARKET CLOSE: NZX 50 rises to record, led by Xero

Article – BusinessDesk

Oct. 22 (BusinessDesk) – New Zealand shares rose to a record close, led by Xero, as investors returned to more risk-based equities after last week’s volatility. Nuplex gained after selling two of its Australasian assets, while Fletcher Building touched … Read more »

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