Archive for the 'Article' Category

NZ and Aussie trade deals needed as proof EU can do them

Article – BusinessDesk

NZ and Aussie trade deals needed as proof EU can do them: Hungarian foreign minister Read more »

Labour promises $20M for Gisborne timber processing

Article – BusinessDesk

Feb. 17 (BusinessDesk) – The Labour Party is pledging up to $20 million, if elected, to support the region’s timber processing sector, possibly by helping fund a prefabricated housing plant. Read more »

UPDATED: Auckland Airport’s reponse to rapid growth

Article – BusinessDesk

Feb. 17 (BusinessDesk) – Auckland International Airport broadly met analyst expectations with a 19 percent gain in first-half profit although analysts and investors see some speed wobbles as New Zealand’s busiest gateway responds to surging passenger growth. Read more »

RBNZ, Treasury talk up global economic risks

Article – BusinessDesk

Feb. 17 (BusinessDesk) – The Reserve Bank and the Treasury warned incoming Finance Minister Steven Joyce about the international threats posed to New Zealand’s economy, which they both saw as being relatively robust. Read more »

Michael Hill lifts 1H profit 3.4%

Article – BusinessDesk

Feb. 17 (BusinessDesk) – Michael Hill International, the jewellery chain business founded by its namesake, posted a 3.4 percent increase in first-half profit as it opened more stores. Read more »

New Zealand’s manufacturing activity slips in January

Article – BusinessDesk

Feb. 17 (BusinessDesk) – New Zealand’s manufacturing activity slipped in January from December and there may be further headwinds to come as the building sector’s momentum loses some of its ‘oomph’. Read more »

Strong 1st qtr earnings gain in NZ for ANZ

Article – BusinessDesk

Feb. 17 (BusinessDesk) – ANZ New Zealand, the local unit of Australia & New Zealand Banking Group, boosted first-quarter earnings 18 percent, benefiting from cost-cutting and smaller hedging losses, even as its loan book shrank and it faced skinnier margins. Read more »

NZ retail sales rise 0.8% in Dec qtr, auto sector dominates

Article – BusinessDesk

Feb. 17 (BusinessDesk) – New Zealand retail sales gained in the fourth quarter, led again by motor vehicle and parts retailing, with eleven of the 15 industries monitored seeing higher sales volumes. Read more »

Ed Sims to leave Airways Corp for international post

Article – BusinessDesk

Feb. 17 (BusinessDesk) – Ed Sims, the Airways Corp chief executive responsible for a major step up in the performance of New Zealand’s civil aviation services, is leaving in May for a position in an unnamed international organisation. Read more »

Cavalier reports sharply lower 1H net profit

Article – BusinessDesk

Feb. 17 (BusinessDesk) – Cavalier Corp posted a sharply lower first-half profit and the carpet maker and wool scourer continues to forecast no earnings growth for the full year, although it expects improvement further down the track. Read more »

IkeGPS still sees breakeven this year

Article – BusinessDesk

Feb. 17 (BusinessDesk) – IkeGPS, the laser measurement toolmaker, maintained its breakeven forecast for 2017 but won’t achieve projected sales growth after a weak first half, and expects lumpiness in its revenue to 2018 and beyond. Read more »

Steel & Tube 1H profit down 33% but upbeat about second half

Article – BusinessDesk

Feb. 17 (BusinessDesk) – Steel & Tube Holdings, the NZX-listed steel products distributor, reported a 33 percent drop in first-half profit, hurt by a decline in non-residential construction, but expects things to pick up in the second half. Read more »

Auckland Airport lifts first-half profit by 19%

Article – BusinessDesk

Feb. 17 (BusinessDesk) – Auckland International Airport posted a 19 percent gain in first-half profit, a period when New Zealand’s busiest gateway added airlines with increased capacity and new services and routes, and the country enjoyed record … Read more »

AFT Pharmaceuticals expects sales to hit analyst forecast

Article – BusinessDesk

Feb. 17 (BusinessDesk) – AFT Pharmaceuticals, which manufactures the Maxigesic painkiller, expects annual sales to meet analysts’ forecasts of about $70 million and has adjusted its loan covenant with shareholder Capital Royalty Group. Read more »

Abano recommends investors reject increased Healthcare offer

Article – BusinessDesk

Feb. 17 (BusinessDesk) – Abano Healthcare recommended investors continue to reject a partial takeover bid for the medical investor after Healthcare Partners raised its offer price yesterday. Abano also refused to allow access to its books to pave … Read more »

NZ dollar may rise as markets await new Trump policies

Article – BusinessDesk

Feb. 17 (BusinessDesk) – The New Zealand dollar was little changed and may test new multi-month highs against the greenback as optimism about US President Donald Trump’s economic policies starts to wane. Read more »

TTR retreads rejected argument in 2nd bid to mine iron sands

Article – BusinessDesk

Feb. 17 (BusinessDesk) – Fisheries groups have teamed up to oppose Trans Tasman Resources’ second bid to mine iron sands from the ocean floor in New Zealand’s Exclusive Economic Zone, and were joined by Origin Energy Resources Kupe NZ – on behalf of the Kupe … Read more »

While you were sleeping: Wall St eases

Article – BusinessDesk

Feb. 17 (BusinessDesk) – Wall Street slipped, retreating after earlier touching fresh record highs, as investors reassessed valuations while waiting for details of US President Donald Trumps phenomenal tax plans. Read more »

While you were sleeping: Wall St eases

Article – BusinessDesk

Feb. 17 (BusinessDesk) – Wall Street slipped, retreating after earlier touching fresh record highs, as investors reassessed valuations while waiting for details of US President Donald Trumps phenomenal tax plans. Read more »

Brian Gaynor steps back at Milford

Article – BusinessDesk

Feb. 16 (BusinessDesk) – Milford Asset Management’s principal Brian Gaynor is taking a step back from the fund manager’s investment operations, handing over portfolio management to people with the international experience he says is needed due to the … Read more »

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