NZ consumer confidence dips in November

Article – BusinessDesk

Nov. 16 (BusinessDesk) – New Zealand consumer confidence fell to a seven-month low in November as households grew less optimistic about the economy’s fortunes. Read more »

UPDATE: Pushpay plans for US listing

Article – BusinessDesk

Nov. 16 (BusinessDesk) – Pushpay Holdings, the mobile payments app company, says it’s planning on a Nasdaq listing and likely a capital raising within the next 15 months, but that won’t mean de-listing from the NZX or ASX. Read more »

Pushpay widens 1H loss, but on track for breakeven

Article – BusinessDesk

Nov. 16 (BusinessDesk) – Pushpay Holdings, the mobile payments app company, widened its net loss in the first half despite lifting revenue but reiterated its guidance for the year ahead. Read more »

Steel & Tube forecasts drop in first-half earnings

Press Release – BusinessDesk

Nov. 16 (BusinessDesk) – Steel & Tube Holdings’ first-half earnings may fall as much as 38 percent reflecting a writedown of inventory, restructuring costs and margin pressures. Read more »

Rakon turns to 1H profit

Article – BusinessDesk

Nov. 16 (BusinessDesk) – Rakon turned to a first-half profit from a loss a year earlier, citing growth across the technology company’s key markets, improved margins and lower costs. Read more »

Regulator gives provisional thumbs up to Powerco price hike

Article – BusinessDesk

Nov. 16 (BusinessDesk) – The Commerce Commission has given the early all-clear for lines company Powerco to raise prices to fund a $1.27 billion upgrade of its network over the next five years. Read more »

NZ dollar little changed below 69 US cents

Article – BusinessDesk

Nov. 16 (BusinessDesk) – The New Zealand dollar was little changed, holding below 69 US cents, after US inflation figures came in near expectations, keeping intact bets that the Federal Reserve will hike US interest rates next month. Read more »

While you were sleeping: Target slumps on outlook

Article – BusinessDesk

Nov. 16 (BusinessDesk) – US Treasuries rose while Wall Street slid as investors reassessed the outlook for corporate profits for retailers including Target amid intensifying competition from Amazon. Read more »

Sanford posts 8% gain in full-year profit

Article – BusinessDesk

Sanford posts 8% gain in full-year profit on year-earlier vessel impairment; sales rise 3.1% Read more »

MARKET CLOSE: NZ shares down on Genesis, Mainfreight falls

Article – BusinessDesk

Nov. 15 (BusinessDesk) – The New Zealand benchmark index dipped back below 8,000 as Genesis Energy and Mainfreight dropped, while Xero recovered somewhat from recent selling. Read more »

NZ dollar rises against Aussie after tepid wage data

Article – BusinessDesk

Nov. 15 (BusinessDesk) – The New Zealand dollar rose against the Aussie dollar after Australian wages accelerated by less than expected in the third quarter, despite a lift in the minimum wage. Read more »

FMA rebukes Goldman Sachs over Warminger trading

Article – BusinessDesk

Nov. 15 (BusinessDesk) – The Financial Markets Authority has rebuked Goldman Sachs New Zealand for its role in disgraced fund manager Mark Warminger’s market manipulation, but stopped short of taking the investment bank to court, saying it fell more in … Read more »

Living Cell Technologies to hold board strategy meeting

Article – BusinessDesk

Nov. 15 (BusinessDesk) – Living Cell Technologies will continue to evaluate data from its recent clinical trial before holding a board strategy meeting in December, chief executive Ken Taylor told shareholders at the annual general meeting. Read more »

Infratil somewhat bruised by dealings with regulators

Article – BusinessDesk

Nov. 15 (BusinessDesk) – Infratil has reeled off a list of what it calls “unhelpful regulatory interactions” this year that have left the publicly listed infrastructure investor wary of both lawmakers and regulators. Read more »

UPDATE: Mainfreight shares fall to 4-month low

Article – BusinessDesk

UPDATE: Mainfreight shares fall to 4-month low on first-half results, still seen ‘fully priced’ Read more »

Tower seeks to leave rivals in the dust

Article – BusinessDesk

Nov. 15 (BusinessDesk) – Tower says it aims to leave its larger rivals with ‘clunky legacy systems’ in its wake by transforming into a “digital challenger” offering customers more tailored products that draw on deeper pools of information. Read more »

RBNZ lifts Westpac NZ’s regulatory capital requirements

Article – BusinessDesk

Nov. 15 (BusinessDesk) – The Reserve Bank has lifted Westpac New Zealand’s minimum regulatory capital requirements after it failed to comply with obligations relating to its status as an internal models bank. Read more »

Rabo NZ chief Daryl Johnson resigns

Article – BusinessDesk

Nov. 15 (BusinessDesk) – Rabobank New Zealand chief executive Daryl Johnson has resigned, less than two years after taking over the reins of the rural lending specialist. Read more »

NZ house sale slump eases in October, drop in turnover slows

Article – BusinessDesk

Nov. 15 (BusinessDesk) – New Zealand’s housing market perked up last month as sales volumes fell at a slower pace, having slumped in the lead-up to the September general election. Read more »

NZ financial risks have stabilised – S&P

Article – BusinessDesk

Nov. 15 (BusinessDesk) – The risks facing New Zealand’s financial system have stabilised as house price inflation and credit growth slow due to tighter macroprudential tools implemented by the Reserve Bank and higher lending rates, Standard & Poors … Read more »