Update: China lifts temporary ban on Fonterra whey products

Article – BusinessDesk

Oct. 31 (BusinessDesk) – Chinese authorities have lifted a temporary ban on the importation of Fonterra Cooperative Group’s whey powder and dairy base powder used in the manufacture of infant formula that has been in place since August last year in the wake of the … Read more »

MARKET CLOSE: NZX 50 rises to a record; led by Ebos

Article – BusinessDesk

Oct. 31 (BusinessDesk) – New Zealand shares rose to a record led by Ebos Group amid optimist about its prospects in Australia as it signalled a 10 percent boost to first quarter trading. Steel & Tube and Fletcher Building were boosted by rising building … Read more »

China lifts ban on Fonterra whey powders

Article – BusinessDesk

Oct. 31 (BusinessDesk) – Chinese authorities have lifted a temporary ban on the importation of Fonterra Cooperative Group’s whey powder and dairy base powder used in the manufacture of infant formula that has been in place since August last year in the wake of the … Read more »

Xero 3Q cash burn slows as customer receipts rise 19%

Article – BusinessDesk

Oct. 31 (BusinessDesk) – Xero, the cloud-based accounting firm, slowed its quarterly cash burn in the September quarter from the June period as customer receipts accelerated faster than staff costs. Read more »

Heartland affirms FY guidance

Article – BusinessDesk

Oct. 31 (BusinessDesk) – Heartland New Zealand, the bank formed through the merger of Canterbury and Southern Cross building societies with Marac Finance, affirmed its earnings guidance for the 2015 financial year, and sees annual consumer lending … Read more »

Air NZ, PT Garuda Indonesia win Australian cartel case

Article – BusinessDesk

Oct. 31 (BusinessDesk) – Air New Zealand and PT Garuda Indonesia have won their bid to dismiss action against them in Australia, claiming the airlines were part of a global cartel to fix prices in international air freight services. Read more »

Ebos 1Q trading up 10%, new CEO Davies says

Article – BusinessDesk

Oct. 31 (BusinessDesk) – Ebos Group, the healthcare and animal care products company, is tracking ahead of last year in the first three months of trading, as it beds in a much bigger focus in Australia after its 2013 acquisition of pharmaceutical firm … Read more »

Ebos buys Australian BlackHawk pet food business for $57.8M

Article – BusinessDesk

Oct. 31 (BusinessDesk) – Ebos Group, the healthcare and animal care products company, has bought Australia’s BlackHawk Premium Pet Care pet food business for $57.8 million, which it expects will immediately add to earnings. Read more »

DNZ Property refinances $400 mln banking facility

Article – BusinessDesk

Oct. 31 (BusinessDesk) – DNZ Property Fund, the listed property investor, has refinanced its $400 million banking facilities, extending the expiry date on its loan. Read more »

OceanaGold Q3 profit falls on lower gold price; shares drop

Article – BusinessDesk

Oct. 31 (BusinessDesk) – Oceana Gold, which operates the Macraes goldfield in Otago, reported a 61 percent drop in third quarter profit as a lift in production in its Philippines operations was offset by declining gold prices. The company’s shares … Read more »

ANZ New Zealand boosts FY profit 17% on home loan growth

Article – BusinessDesk

Oct. 31 (BusinessDesk) – ANZ New Zealand boosted annual earnings 17 percent as the local unit of Australia & New Zealand Banking Group benefited from home loan lending growth and bedded down savings from the integration of the National Bank … Read more »

Intueri charged over student death at NZ diving school

Article – BusinessDesk

Oct. 31 (BusinessDesk) – Intueri Education Group, New Zealand’s largest private training institution, has been charged over the death of a foreign student enrolled at its diving school in April this year, just before the company floated. Read more »

AWF first-half profit jumps 54% on Madison acquisition

Article – BusinessDesk

Oct. 31 (BusinessDesk) – AWF Group, the contract labour firm, boosted first-half profit 54 percent as its white-collar Madison acquisition plumped up revenue, and will pay a bigger interim dividend. Read more »

MARKET CLOSE: NZX 50, Freightways rise to records

Article – BusinessDesk

Oct. 30 (BusinessDesk) – New Zealand shares rose to a record led by Freightways after a profit upgrade. Mainfreight and Restaurant Brands paced gains as investors hunted for yield investments after the Reserve Bank kept interest rates on hold. Read more »

Chatham Rock to delay exercise of options

Article – BusinessDesk

Oct. 30 (BusinessDesk) – Chatham Rock Phosphate, which is seeking to mine phosphate nodules from the seabed on the Chatham Rise, will push out the date to exercise its listed options until 12 months after it receives marine consent to allow it share … Read more »

BNZ chief Healy sees growth in rural, business lending

Article – BusinessDesk

Oct. 30 (BusinessDesk) – Bank of New Zealand chief executive Anthony Healy expects the broader rural sector to continue to grow with greater investment along the value-chain, and anticipates increased business lending after a period of low credit expansion. Read more »

Fletcher dumps two executives in overhaul of business units

Article – BusinessDesk

Oct. 30 (BusinessDesk) – Fletcher Building chief executive Mark Adamson has continued with his management team overhaul, dumping two executives in a restructuring of the company’s building products and infrastructure products division. Read more »

Freightways fattens margins, lifts earnings; shares jump

Article – BusinessDesk

Oct. 30 (BusinessDesk) – Freightways, the listed courier and data management company, affirmed it is on track to lift 2015 earnings after recording the strongest first-quarter performance in a decade, widening its profit margin on a 17 percent increase in sales. … Read more »

BNZ annual earnings rise 2.4% on lending growth

Article – BusinessDesk

Oct. 30 (BusinessDesk) – Bank of New Zealand, the local unit of National Australia Bank, lifted annual earnings 2.4 percent as the lender lifted lending to businesses and households and reported smaller charges on bad debts. Read more »

ComCom confirms lower rates of return for network monopolies

Article – BusinessDesk

Oct. 30 (BusinessDesk) – The Commerce Commission has confirmed it is reducing the allowable rate of return on capital for regulated electricity and gas network monopolies in a move that Auckland network owner Vector says will place “further pressure … Read more »

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