Archive for the 'Article' Category

Hotchin drops Perpetual in appeal case

Article – BusinessDesk

March 26 (BusinessDesk) – Mark Hotchin, principal of failed finance company Hanover, has abandoned his appeal against Perpetual Trust to include them in the Financial Markets Authoritys civil case against the former lenders directors and promoters. Read more »

MetService says FY earnings will miss target on MoT delays

Article – BusinessDesk

March 26 (BusinessDesk) – Meteorological Service of New Zealand, the state-owned weather bureau, says annual earnings will be $2 million less than estimated because of delays finalising its largest contract. Read more »

Milmeq wins innovation award after doubling export revenue

Article – BusinessDesk

March 26 (BusinessDesk) – Milmeq, which designs, engineers and manufactures systems for primary food processing, has doubled export revenue in the past two years. Read more »

NZ dollar falls vs. euro on German business confidence

Article – BusinessDesk

March 26 (BusinessDesk) – The New Zealand dollar declined against the euro after a positive survey of German business confidence bolstered investor sentiment about Europe’s largest economy. Read more »

While you were sleeping: US durable goods orders drop

Article – BusinessDesk

March 26 (BusinessDesk) – Stocks on Wall Street and in Europe slid after an unexpected drop in US durable goods orders bolstered concern about the strong greenback and its impact on corporate earnings. Read more »

MARKET CLOSE: NZ shares fall, led by Fonterra fund

Article – BusinessDesk

March 25 (BusinessDesk) – New Zealand shares fell, led by Fonterra Shareholders’ Fund, after the world’s biggest dairy exporter lowered its guidance for dividends. Spark New Zealand and Fletcher Building paced the decline after shedding rights to … Read more »

NZ dollar gains on yield appeal

Article – BusinessDesk

March 25 (BusinessDesk) – The New Zealand dollar rose as the nation’s relatively appealing interest rates drew investors who had unwound long US dollar positions following last week’s Federal Reserve Open Market Committee meeting. Read more »

Attention for Fonterra’s under-performing Aussie units

Article – BusinessDesk

March 25 (BusinessDesk) – Fixing under-performing businesses in Australia is a key part of Fonterra Cooperative Groups renewed push to drive more value from transforming the business, particularly when low global milk prices depress its payout to farmers. Read more »

Fonterra shareholders disappointed with Fonterra dividends

Article – BusinessDesk

March 25 (BusinessDesk) – The Fonterra Shareholders Council said farmers are disappointed with todays announcement of an interim dividend of 10 cents a share and a trimmed forecast range of 20 cents to 30 cents per share for the 2014/2015 season given the … Read more »

Nufarm NZ sales slip on weak dairy prices, drought

Article – BusinessDesk

March 25 (BusinessDesk) – Nufarm, the agricultural chemicals manufacturer, reported a 14 percent drop in its New Zealand sales as the South Island drought and the decline in global dairy prices weighed on demand for pesticides and herbicides. Read more »

NZ farmer confidence rebounds in first quarter: Rabobank

Article – BusinessDesk

March 25 (BusinessDesk) – New Zealand farmer confidence rebounded in the first quarter of this year, led by improved optimism among dairy farmers. Read more »

NZ posts smaller-than-expected trade surplus in February

Article – BusinessDesk

NZ posts smaller-than-expected trade surplus in February, annual deficit at 5-year high Read more »

Update: Synlait lifts milk forecast while Fonterra reaffirms

Article – BusinessDesk

March 25 (BusinessDesk) – Synlait Milk has increased its forecast market milk price upwards for the 2015 season to a level closer to Fonterra Cooperative Group’s, which was reaffirmed in the Fonterra interim results today. Read more »

Fonterra affirms milk payout forecast

Article – BusinessDesk

March 25 (BusinessDesk) – Fonterra Cooperative Group, the world’s biggest dairy exporter, affirmed its milk payout forecast and lowered guidance for dividends, while posting a 16 percent drop in first-half profit it says reflected “tough conditions in … Read more »

NZ dollar rises to 2-month high vs. pound

Article – BusinessDesk

NZ dollar rises to 2-month high vs. pound after report shows no British inflation Read more »

While you were sleeping: Data bolsters rate case

Article – BusinessDesk

March 25 (BusinessDesk) – Wall Street moved lower as an unexpected gain in new home sales as well as solid data on inflation and manufacturing bolstered the case for the Federal Reserve to begin raising interest rates soon. Read more »

MARKET CLOSE: Kathmandu leads NZ shares down on weak outlook

Article – BusinessDesk

March 24 (BusinessDesk) – New Zealand shares fell, led by Kathmandu Holdings as it posted a first-half loss. Spark New Zealand and Fisher & Paykel Healthcare Corp paced the decline. Read more »

Kiwifruit growers give mandate for change

Article – BusinessDesk

March 24 (BusinessDesk) – Interim results show more than 90 percent of New Zealand kiwifruit growers support a new blueprint for the industry though one grower, who this month raised concerns about a Zespri junket for international visitors, claims … Read more »

UPDATE: Kathmandu slows pace of store openings after loss

Article – BusinessDesk

March 24 (BusinessDesk) – Kathmandu Holdings, which operates 157 outdoor clothing and equipment outlets, is pulling back the pace of new store openings after aggressive price discounting slashed its margin in Australia and resulted in a first-half loss. Read more »

ComCom clears Wilson’s acquisition of rival’s parking assets

Article – BusinessDesk

March 24 (BusinessDesk) – The Commerce Commission has found Wilson Parking New Zealands 2013 acquisition of a rivals parking assets hasn’t substantially crimped competition and deemed that public transport will keep a lid on any price hikes. Read more »

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