UPDATE: Shareholders Association fights Wynyard ‘black hole’

Article – BusinessDesk

Feb. 11 (BusinessDesk) – The New Zealand Shareholders Association says it will oppose security software developer Wynyard’s plans to sell new shares below a previously announced price floor of $2 a share when a meeting of investors is held next week. Read more »

Shareholders Association to oppose Wynyard ‘black hole’

Article – BusinessDesk

Feb. 11 (BusinessDesk) – The New Zealand Shareholders Association says it will oppose security software developer Wynyard’s plans to sell new shares below a previously announced price floor of $2 a share when a meeting of investors is held next week. Read more »

Labour challenges regulator on credit card surcharges

Article – BusinessDesk

Feb. 11 (BusinessDesk) – Labour Party MPs challenged the chair and senior managers of the Commerce Commission to be “more proactive” in their pursuit of consumer issues, with MP Clayton Cosgrove highlighting what he said were uncompetitive surcharges … Read more »

NZ services offsetting lower commodity prices, says Moody’s

Article – BusinessDesk

Feb. 11 (BusinessDesk) – Moody’s Investors Service is comfortable with its Aaa credit rating on New Zealand with a stable outlook, as it anticipates the impact from lower commodity prices will be offset by strength in areas of the economy such as tourism … Read more »

CORRECT: Auckland house sales fall in January

Article – BusinessDesk

Feb. 11 (BusinessDesk) – The steam continued to come out of the Auckland property market in January, being the only region to report a drop in house sales and a further slowing in annual price inflation as regulatory curbs dim demand in the country’s … Read more »

Telcos earning too little on big investment: Spark’s Moutter

Article – BusinessDesk

Feb. 11 (BusinessDesk) – Investment in the telecommunications sector has hit $1.7 billion annually but could shrink in future if returns dont rise, warns Spark New Zealand chief executive Simon Moutter. Read more »

Auckland house sale fall in Jan, annual price rise under 10%

Article – BusinessDesk

Feb. 11 (BusinessDesk) – The steam continued to come out of the Auckland property market in January, being the only region to report a drop in house sales and a further slowing in annual price inflation as regulatory curbs dim demand in the country’s … Read more »

Suncorp’s general NZ business posts 21% drop in 1H profit

Article – BusinessDesk

Suncorp’s general NZ business posts 21% drop in first-half profit as claims rise Read more »

SkyCity first half profit rises 30%, helped by high rollers

Article – BusinessDesk

Update:SkyCity first half profit rises 30%, helped by high rollers Feb. 11 (BusinessDesk) – SkyCity Entertainment Group, which has four casinos in New Zealand and two in Australia, posted a 30 percent gain in first-half profit, citing improvements across all its … Read more »

Upsurge in demand for UFB leads to technician shortage

Article – BusinessDesk

Feb. 11 (BusinessDesk) – A record upsurge in demand for ultrafast broadband connections since Christmas is exacerbating a shortage of technicians to do the work, say fibre companies. Read more »

NZ accommodation extends run of gains in December

Article – BusinessDesk

Feb. 11 (BusinessDesk) – New Zealand’s accommodation providers extended their run of rising guest nights in December as both domestic and international travellers boosted tourism. Read more »

NZ manufacturing activity continues to rise in January

Article – BusinessDesk

Feb. 11 (BusinessDesk) – New Zealand manufacturing activity rose to a 15-month high in January, with an uptick in production and employment pointing to further improvements ahead, though not across all industries. Read more »

Tower to cut product lines in bid to cut costs

Article – BusinessDesk

Feb. 11 (BusinessDesk) – Tower, which posted an annual loss last year on ballooning costs from the Canterbury earthquakes, plans to whittle down the number of products it offers customers and clamp down on costs in a bid to sharpen up the business. Read more »

FIRST CUT: SkyCity first-half profit rises 30%

Article – BusinessDesk

Feb. 11 (BusinessDesk) – SkyCity Entertainment Group, New Zealand’s only listed casino company, posted a 30 percent gain in first-half profit, citing improvements across all its properties and lower funding costs. Read more »

Intueri suspends dividends on TEC review

Article – BusinessDesk

Feb. 11 (BusinessDesk) – Intueri Education Group, the private training college under investigation by the Serious Fraud Office, has suspended dividends pending the review by the Tertiary Education Commission funding agency, and says 2015 earnings met its … Read more »

Ports of Auckland buys Waikato land for new freight hub

Article – BusinessDesk

Feb. 11 (BusinessDesk) – Ports of Auckland, the country’s second-largest by volume, has agreed to buy a plot of land north of Hamilton to develop a freight hub, which it says will complete its network across the North Island. Read more »

Telco investment has hit $1.7 bln a year: industry report

Article – BusinessDesk

Feb. 11 (BusinessDesk) – Investment in the telecommunications sector is $1.7 billion a year, proportionately one of the highest levels in the OECD, according to a report released today on the status of the New Zealand sector. Read more »

NZ dollar holds gains after Yellen sticks to rate hike plan

Article – BusinessDesk

Feb. 11 (BusinessDesk) – The New Zealand dollar held on to its gains after Federal Reserve chair Janet Yellen signalled the US central bank still intends to continue tightening monetary policy, although conditions had become less supportive. Read more »

While you were sleeping: Yellen signals confidence

Article – BusinessDesk

Feb. 11 (BusinessDesk) – Wall Street and the US dollar rose after Federal Reserve Chair Janet Yellen signalled confidence in the US economy, even as she confirmed her expectation for gradual increases in the central banks key target interest … Read more »

MARKET CLOSE: NZ shares fall on weak global sentiment

Article – BusinessDesk

MARKET CLOSE: NZ shares fall on weak global sentiment; Xero, Spark, A2 drop, Warehouse rises Read more »