NZ’s economy expands 0.8% in 2Q on export, domestic demand

Press Release – BusinessDesk

Sept. 21 (BusinessDesk) – New Zealand’s economy expanded in the second quarter in line with expectations as export and domestic demand underpinned growth although output in the construction sector continued to weaken. Read more »

Fletcher HR Comms Boss Moves to BNZ as Quarry Workers Strike

Press Release – BusinessDesk

Sept. 21 (BusinessDesk) – Fletcher Building’s chief people and communications officer Kate Daly is leaving the country’s biggest construction firm to take on a similar role at Bank of New Zealand, the same day the company’s quarry workers down tools … Read more »

Fonterra names Roche Pharmaceuticals’ Marc Rivers as CFO

Article – BusinessDesk

Sept. 21 (BusinessDesk) – Fonterra Cooperative Group named Marc Rivers as chief financial officer, a position he currently holds at Roche Pharmaceuticals in Switzerland, and said he will take up the job on March 1 next year. Read more »

NZ dollar gives up gains on Fed balance sheet unwinding

Article – BusinessDesk

Sept. 21 (BusinessDesk) – The New Zealand dollar gave up some of its gains from yesterday’s poll putting the incumbent National Party in the lead ahead of this weekend’s election after the Federal Reserve stuck to its track for future interest rate hikes and started … Read more »

UPDATE: NZ dollar jumps as National leads in latest poll

Article – BusinessDesk

Sept. 20 (BusinessDesk) – The New Zealand dollar jumped half a cent when the latest poll showed the National Party leapfrogging its nearest rival ahead of Saturday’s general election. Read more »

MARKET CLOSE: NZ shares gain as relief rally bolsters

Article – BusinessDesk

MARKET CLOSE: NZ shares gain as relief rally bolsters pipeline affected Air NZ, Z Energy Read more »

Reserve Bank revamps rules for bank outsourcing

Article – BusinessDesk

Sept. 20 (BusinessDesk) – The Reserve Bank has released its revised policy for banks which outsource services, tightening the rules to ensure the banks continue to function in the event of failure. Read more »

NZ dollar treads water ahead of NZ poll, Fed meeting

Article – BusinessDesk

Sept. 20 (BusinessDesk) – The New Zealand dollar remained above 73 US cents but barely budged on the day as markets await the latest New Zealand political opinion poll ahead of Saturday’s general election and the outcome of the US Federal Reserve’s … Read more »

Transmission Gully earthworks estimate undershoots by 50%

Article – BusinessDesk

Sept. 20 (BusinessDesk) – Greater Wellington Regional Council’s environment committee wants an update on the $850 million Transmission Gully project after learning consents for the 27-kilometre four-lane highway underestimated earthworks by 50 percent. Read more »

Orion Health whittling down options in strategic review

Article – BusinessDesk

Orion Health whittling down options raised in strategic review, sees first-half By Paul McBeth Read more »

Turners Automotive sees FY18 pre-tax profit rising

Article – BusinessDesk

Sept. 20 (BusinessDesk) – Turners Automotive Group told shareholders at today’s annual meeting it expects to lift its full-year pre-tax earnings by as much as 26 percent as it benefits from a series of recent acquisitions and increasing vertical integration. Read more »

Seadragon forecasts smaller loss in FY18 on improved sales

Press Release – BusinessDesk

Sept. 20 (BusinessDesk) – Seadragon says it is “cautiously confident” of success in the year ahead despite setbacks to its presence in the omega-3 market and “teething issues” with its products. Read more »

NZ 2Q current account gap narrower than expected

Press Release – BusinessDesk

NZ 2Q current account gap narrower than expected, annual deficit at 2.8% of GDP Read more »

Fletcher Building kicks off board changes

Article – BusinessDesk

Sept. 20 (BusinessDesk) – Fletcher Building has started to refresh its boardroom with the departure of two directors and says it wants their replacements to have construction and contracting experience. Read more »

NZ dollar rises above 73 US cents

Article – BusinessDesk

Sept. 20 (BusinessDesk) – The New Zealand dollar rose above 73 US cents as financial markets await the outcome of the Federal Reserve policy meeting tomorrow and ahead of local balance of payments and economic growth data in the next two days. Read more »

While you were sleeping: Dow ekes out record high

Article – BusinessDesk

Sept. 20 (BusinessDesk) – Wall Street inched higher, with the Dow reaching a fresh record, as the Federal Open Market Committee began its two-day meeting after which it is widely expected to announce a plan for the reduction of its balance sheet. Read more »

Dairy product prices rise, bolstered by whole milk powder

Article – BusinessDesk

Sept. 20 (BusinessDesk) – Dairy product prices rose at the Global Dairy Trade auction, increasing for the third time in seven auctions, amid stronger-than-expected demand for whole milk powder. Read more »

Air NZ restricts ticket sales as Auck fuel shortage bite

Article – BusinessDesk

Sept. 19 (BusinessDesk) – Air New Zealand is restricting ticket sales and will cancel some international flights as it deals with the shortage of jet fuel at Auckland International Airport. Read more »

MARKET CLOSE: NZ shares up, milk stocks Synlait, A2 gain

Article – BusinessDesk

MARKET CLOSE: NZ shares up, milk stocks Synlait, A2 gain while Air NZ drops as more flights cancelled Read more »

NZ dollar rises but seen as range-bound ahead of election

Article – BusinessDesk

Sept. 19 (BusinessDesk) – The New Zealand dollar gained although it remains in a tight range as investors await the Federal Reserve meeting for clues on US monetary policy as well as the final opinion polls ahead of Saturday’s election. Read more »