NZ dollar falls on tepid economic growth, rising greenback

Article – BusinessDesk

June 21 (BusinessDesk) – The New Zealand dollar lost further ground against the greenback as today’s gross domestic product data added to recent weak data and as the US dollar continued to push higher in Asian trading on the prospect of interest rate rises … Read more »

Restaurant Brand affirms annual earnings guidance

Article – BusinessDesk

June 21 (BusinessDesk) – Restaurant Brands New Zealand, which operates the local KFC, Pizza Hut, Starbucks Coffee and Carl’s Jr brands, affirmed guidance for annual earnings to rise 10 percent and said it’s looking for a US director as it scouts … Read more »

Xero shooting for a million customers in UK

Article – BusinessDesk

June 21 (BusinessDesk) – Xero is confident of tripling its UK customer base in the next few years, saying the compulsory digitisation of tax returns providing a tailwind to its rapid pace of growth in the world’s fifth-biggest economy. Read more »

Foreign farm buyer applications withdrawn triple in a year

Article – BusinessDesk

Foreign farm buyer applications withdrawn in the past 12 months have tripled, OIO figures show Read more »

Fonterra satisfied with Beingmate’s response to error

Article – BusinessDesk

June 21 (BusinessDesk) – Fonterra Cooperative Group is satisfied Beingmate Baby & Child Food is taking the right steps to deal with a labelling issue after getting caught out in a widespread audit by Chinese regulatory authorities. Read more »

UPDATE: Fletcher shares gain on five-year strategy

Article – BusinessDesk

June 21 (BusinessDesk) – Fletcher Building stock rose after chief executive Ross Taylor set out his five-year strategy to refocus on core businesses, stabilise the construction division, expand in Australia and exit non-core operations. Read more »

Gentrack acquires UK-based Evolve Analytics

Article – BusinessDesk

June 21 (BusinessDesk) – Gentrack Group said it agreed to acquire Evolve Analytics, an energy data analysis software and services provider, for 23 million British pounds, or $44.2 million, bolstering its leading position for utility billing and customer … Read more »

NZ economic growth slows in first quarter

Article – BusinessDesk

June 21 (BusinessDesk) – New Zealand’s economic growth eased slightly in line with expectations in the first quarter as a fall in construction activity was offset by growth in the services industries. The primary industries regained some ground. Read more »

Independent expert to determine fair price for Chow Group

Article – BusinessDesk

June 21 (BusinessDesk) – Holdout shareholders of the Chow Group will have an expert determine how much they should be paid for the shares that the Chow brothers are compulsorily acquiring. Read more »

Mainfreight expects momentum to continue

Article – BusinessDesk

June 21 (BusinessDesk) – Mainfreight, which last month reported a record full-year profit, told investors and analysts it expects momentum to continue. Read more »

Fletcher’s 2018 results to include one-time charges

Article – BusinessDesk

June 21 (BusinessDesk) – Fletcher Building chief executive Ross Taylor said the company expects to take restructuring charges of $85 million to $95 million in its 2018 results as it moves to a decentralised operating model with more divisions and will also … Read more »

NZ dollar falls to month-low ahead of GDP report

Article – BusinessDesk

June 21 (BusinessDesk) – The New Zealand dollar fell to its lowest levels in about a month ahead of figures that are expected to show economic growth slowed in the first quarter, undershooting the Reserve Bank’s forecast. Read more »

Fonterra seeking more details over Beingmate licensing issue

Article – BusinessDesk

June 20 (BusinessDesk) – Fonterra Cooperative Group wants more information from its Chinese partner Beingmate Baby & Child Food amid reports the infant formula firm didn’t make sure product sourced from another supplier met its licensing conditions. Read more »

MARKET CLOSE: NZ shares rise as Pushpay rebounds

Article – BusinessDesk

June 20 (BusinessDesk) – New Zealand shares rebounded from yesterday’s 1.2 percent loss, led higher by Precinct Properties New Zealand and Westpac Banking Corp. Read more »

NZ dollar hovers near 69 US cents amid global trade jitters

Article – BusinessDesk

June 20 (BusinessDesk) – The New Zealand dollar is hovering around 69 US cents as trade war jitters continue to ramp up but attention could shift to the domestic arena tomorrow if the first quarter gross domestic product data surprises. Read more »

NZ organic sector worth $600M, exports leading growth

Article – BusinessDesk

June 20 (BusinessDesk) – New Zealand’s organic sector has grown 30 percent over the past two years to an estimated value of $600 million, led by a 42 percent jump in organic exports, according to the latest market report published today. Read more »

OPI Pacific Finance debenture holders get $3.9M

Article – BusinessDesk

June 20 (BusinessDesk) – The receivers of OPI Pacific Finance have paid a further $3.9 million to out-of-pocket debenture holders after receiving a ‘dividend’ from the liquidators of its failed parent. Read more »

First go at living standards framework to be ready for 2019

Article – BusinessDesk

June 20 (BusinessDesk) – The Treasury says a “first version” of its living standards framework will be ready for the government to use in Budget 2019, although it expects to see the measures it uses evolve over time. Read more »

Toyota NZ’s vehicle sales soar to new annual record

Article – BusinessDesk

June 20 (BusinessDesk) – Toyota New Zealand, the country’s biggest car brand, achieved record vehicle sales in its latest financial year and generated its highest ever revenue on the back of a strong economy. Read more »

NZ consumer confidence cools broadly in June quarter

Article – BusinessDesk

June 20 (BusinessDesk) – New Zealand consumer confidence declined broadly in the June quarter as the pace of the countrys economic growth cooled along with the housing market, while fuel prices rose, according to the latest Westpac McDermott … Read more »