Archive for the 'Article' Category

Heartland affirms FY guidance

Article – BusinessDesk

Heartland affirms FY guidance, sees consumer lending growth of up to 10%

By Paul McBeth

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 growth of up to 10 percent. Read more »

NZ new building permits drop in Sept on election uncertainty

Article – BusinessDesk

NZ building consents drop at fastest pace in more than 2 years in September

By Tina Morrison

Oct. 31 (BusinessDesk) – New Zealand building consents fell at the fastest monthly pace in more than two years in September amid uncertainty around that month’s general election. Read more »

DNZ Property refinances $400 mln banking facility

Article – BusinessDesk

DNZ Property refinances $400 mln banking facility, extends maturity

By Suze Metherell

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 »

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

Article – BusinessDesk

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

By Paul McBeth

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 brand. Read more »

AWF first-half profit jumps 54% on Madison acquisition

Article – BusinessDesk

AWF first-half profit jumps 54% on Madison acquisition, lifts dividend

By Paul McBeth

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 »

NZ dollar sinks on Fed optimism, neutral RBNZ

Article – BusinessDesk

NZ dollar sinks on Fed optimism, neutral RBNZ

By Paul McBeth

Oct. 30 (BusinessDesk) – The New Zealand dollar dropped more than 1 US cent after the Federal Reserve gave an optimistic outlook for the world’s biggest economy, stoking talk of interest rate hikes next year, while the nation’s own Reserve Bank signalled no rush to raise rates. Read more »

RBNZ refrains from FX intervention in September

Article – BusinessDesk

RBNZ keeps out of FX markets in September, may have another go pushing kiwi lower

By Paul McBeth

Oct. 30 (BusinessDesk) – The Reserve Bank wasn’t actively trying to influence foreign exchange markets in September, based on its transactions, though it may be poised for another intervention after the Federal Reserve outlined its path to higher interest rates, fuelling demand for the greenback. Read more »

Souter says low-price seats, quality will demand bus demand

Article – BusinessDesk

Backer of new long-distance bus services says price and consistency will fuel demand

By Fiona Rotherham

Oct. 30 (BusinessDesk) – Brian Souter, the Scottish transport entrepreneur who today launched a new long-distance bus service in the North Island, says the number of seats available at lower prices and consistency of product will drive demand. Read more »

CORRECT: NZ dollar drops 2% in 2 hours on Fed, RBNZ

Article – BusinessDesk

CORRECT: NZ dollar drops 2% in 2 hours on more upbeat Fed, cautious RBNZ

(Corrects to show low in kiwi in second graph.) Read more »

FMA sets sales, conduct and governance as priority targets

Article – BusinessDesk

FMA sets sales, conduct and governance as priority targets

By Suze Metherell

Oct. 30 (BusinessDesk) – The Financial Markets Authority is stepping up efforts to police the finance sector, highlighting three areas of concern where it sees poor practice or misconduct posing a risk to the public as it beds in the final stages of its new legislated mandate. Read more »

Fletcher dumps two executives in overhaul of business units

Article – BusinessDesk

Fletcher dumps two executives in overhaul of business units, replaces CFO

By Jonathan Underhill

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

Freightways fattens margins, lifts earnings in ‘strongest first quarter’ in a decade; shares jump

By Jonathan Underhill Read more »

NZ dollar drops 2% on more upbeat Fed, cautious RBNZ

Article – BusinessDesk

NZ dollar drops 2% in 2 hours on more upbeat Fed, cautious RBNZ

By Paul McBeth and Tina Morrison

Oct. 30 (BusinessDesk) – The New Zealand dollar dropped about 2 percent in just two hours this morning after the Federal Reserve gave a more upbeat than expected assessment of the US economy and New Zealand’s Reserve Bank gave no signal it would need to raise interest rates. Read more »

ComCom confirms lower rates of return for network monopolies

Article – BusinessDesk

ComCom confirms reduced rates of return for network monopolies

By Pattrick Smellie

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 on our ability to invest in network growth.” Read more »

RBNZ drops bias on higher rates; kiwi falls

Article – BusinessDesk

RBNZ keeps OCR at 3.5%, drops bias on higher rates; kiwi falls

By Paul McBeth

Oct. 30 (BusinessDesk) – Reserve Bank governor Graeme Wheeler kept the official cash rate at 3.5 percent, and toned down the prospect of higher interest rates as inflation remains unexpectedly low. The New Zealand dollar fell. Read more »

Souter launches ManaBus.com long-distance bus operator

Article – BusinessDesk

Scottish transport entrepreneur Souter launches ManaBus.com long-distance bus operator

By Fiona Rotherham

Oct. 29 (BusinessDesk) – Competition has increased in the long-distance bus market with the launch today of a new city-to-city express service, ManaBus.com. Read more »

Pumpkin Patch accounts tagged over reliance on banker

Article – BusinessDesk

Pumpkin Patch accounts tagged over reliance on banker

By Suze Metherell

Oct. 29 (BusinessDesk) – Pumpkin Patch’s 2014 annual accounts were tagged by auditor PwC over the unprofitable childrenswear retailer’s reliance on bank funding to continue trading as a going concern. Read more »

Sanford expands executive team

Article – BusinessDesk

Sanford expands executive team

By Paul McBeth

Oct. 29 (BusinessDesk) – Sanford, the country’s biggest listed fishing group, has expanded its management team to kick off structural changes under new chief executive Volker Kuntzsch. Read more »

NZ dollar holds gains as traders await central bank meetings

Article – BusinessDesk

NZ dollar holds gains as traders dig in for central bank meetings

By Paul McBeth

Oct. 28 (BusinessDesk) – The New Zealand dollar held gains in the local trading session as traders remain cautious ahead of the Reserve Bank and US Federal Reserve policy meetings on Thursday. Read more »

Update: Orion Health seeks up to $150mln, eschews forecasts

Article – BusinessDesk

Update: Orion Health seeks up to $150 million, but offers no forecasts

By Fiona Rotherham

Oct. Read more »

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