NZ manufacturing dips in March, remains in expansion

Article – BusinessDesk

April 16 (BusinessDesk) – New Zealand manufacturing activity fell in March, while remaining in expansion, although employment contracted and new orders slowed. Read more »

CORRECT: Dairy product prices fall to the lowest this year

Article – BusinessDesk

April 16 (BusinessDesk) – Dairy product prices fell in the latest GlobalDairyTrade auction, hitting the lowest level in the 2015 auctions so far, as prices for milk powder and butter slid amid concern about the outlook for commodities. Read more »

RIS Group censured, fined $80,000 plus costs

Article – BusinessDesk

April 16 (BusinessDesk) – RIS Group, a shell company listed on the NZAX, has been publicly censured and fined $80,000 plus costs after missing the deadline to file its 2014 annual report, the third such breach since 2011. Read more »

Restaurant Brands annual profit rises 19%

Article – BusinessDesk

April 16 (BusinessDesk) – Restaurant Brands, New Zealand’s largest fast-food store operator, posted a 19 percent gain in annual profit and said it expects to boost earnings again this year even as labour costs rise. Read more »

NZ dollar rises against weaker greenback; at record vs. euro

Article – BusinessDesk

April 16 (BusinessDesk) – The New Zealand dollar rose to a 10-day high as a weaker greenback overshadowed the negative impact of falling dairy prices and softer Chinese data. The kiwi touched a record high against the euro after European Central Bank … Read more »

While you were sleeping: Intel rallies after earnings

Article – BusinessDesk

April 16 (BusinessDesk) – Wall Street gained as shares of Intel rallied on better-than-expected earnings, while the latest economic reports bolstered expectations the Federal Reserve wont be in a rush to raise interest rates. Read more »

China a ‘priority’ for NZ Film Commission, says Gibson

Article – BusinessDesk

April 16 (BusinessDesk) The New Zealand Film Commission, the government entity tasked with supporting the local film sector, is putting more emphasis on building links to China, which local film-makers have largely ignored. Read more »

Dairy product prices fall to the lowest level in 2015

Article – BusinessDesk

April 16 (BusinessDesk) – Dairy product prices fell in the latest GlobalDairyTrade auction, hitting the lowest level in the 2015 auctions so far, as prices for milk powder and butter slid amid concern about the outlook for commodities. Read more »

MARKET CLOSE: NZ shares fall, led by Kathmandu, ANZ, Westpac

Article – BusinessDesk

April 15 (BusinessDesk) – New Zealand shares fell, led by Kathmandu Group Holdings and paced by Australian banks Westpac Banking Corp and Australia & New Zealand Banking Group amid weakness in the stock market across the Tasman. Fonterra Shareholders’ … Read more »

NZ dollar holds above 99 Australian cents

Article – BusinessDesk

April 15 (BusinessDesk) – The New Zealand dollar held above 99 Australian cents, putting it back within reach of parity, after a decline in Australian consumer confidence and the weakest Chinese growth in six years weighed on the Aussie dollar. Read more »

NZ dollar back above 99 cents Aussie, reigniting parity talk

Article – BusinessDesk

April 15 (BusinessDesk) – The New Zealand dollar jumped half a cent against the Australian dollar, moving above 99 Australian cents and sparking renewed speculation of parity, after weaker Chinese economic data weighed on the Australian dollar. Read more »

Mark Flay leaves Cullen Investments’ board

Article – BusinessDesk

April 15 (BusinessDesk) – Mark Flay, chief financial officer of Cullen Investments, the investment vehicle for millionaire Eric Watson, is no longer a director of the company. Read more »

Reserve Bank’s Spencer calls on govt to rethink housing tax

Article – BusinessDesk

April 15 (BusinessDesk) – The Reserve Bank has urged the government to take another look at a capital gains tax on investment in housing, allow increased high-density development and cut red tape for planning consents to address an over-heated Auckland … Read more »

US burger demand bodes well for NZ beef farmers: economist

Article – BusinessDesk

April 15 (BusinessDesk) – A trend towards eating out in the US, which saw sales at restaurants and bars overtake spending at grocery stores for the first time last month, bodes well for New Zealand farmers who produce beef for hamburger patties, … Read more »

NZ food prices rise at fastest annual pace since 2011

Article – BusinessDesk

NZ food prices rise at fastest annual pace since 2011, led by fruit, veggie prices Read more »

RBA risks upsetting US$2T of credit funds if it cuts rates

Article – BusinessDesk

RBA risks upsetting US$2 tln of credit funds if it cuts interest rates, economist says Read more »

NZ dollar jumps almost 1 US cent after US retail sales

Article – BusinessDesk

April 15 (BusinessDesk) – The New Zealand dollar jumped almost one US cent overnight after US retail sales missed expectations, raising concern about slowing growth in the world’s largest economy. Read more »

While you were sleeping: JPMorgan Chase delivers

Article – BusinessDesk

April 15 (BusinessDesk) – Wall Street advanced, pushing the Dow and the S&P 500 higher, after JPMorgan Chase reported better-than-expected earnings and energy stocks rose with the price of oil. Read more »

MARKET CLOSE: NZ shares rise led by rebound in MRP

Article – BusinessDesk

April 14 (BusinessDesk) – New Zealand shares rose led by MightyRiverPower as the stock rebounded from a near six month low. Income paying stocks, such as Kiwi Property Group and Precinct Properties gained. Orion Health Group fell. Read more »

NZ dollar rebounds ahead of US data, dairy auction

Article – BusinessDesk

April 14 (BusinessDesk) – The New Zealand dollar rebounded ahead of US retail sales data and the latest dairy auction this week, having been driven lower in the wake of weak Chinese trade data this week. Read more »