Archive for the 'Article' Category

PFI cautious about new acquisitions

Article – BusinessDesk

By Paul McBeth

Aug. 19 (BusinessDesk) – Property For Industry is an interested, if cautious, buyer of industrial property in a market where rising valuations helped lift the firm’s first-half profit by 57 percent. Read more »

NZ Steel earnings fall on weaker prices, higher costs

Article – BusinessDesk

By Gavin Evans

Aug. 19 (BusinessDesk) – BlueScope Steel’s New Zealand business reported a 28 percent drop full-year operating earnings due to higher input costs and a drop in prices for export steel and vanadium. Read more »

Spat between ihug founder and ex-wife hits High Court

Article – BusinessDesk

By Victoria Young

Aug. 19 (BusinessDesk) – Former ihug co-founder Tim Wood is being sued by his former wife Sasha, in a High Court case involving three Queen’s Counsel. Read more »

Company results, Fed to provide clues on recession risk

Article – BusinessDesk

Company results, data, Fed to provide clues on recession risk
By Jenny Ruth

Aug. 19 (BusinessDesk) – Domestic listed company results will dominate the news flow in New Zealand this week and investors will be paying particular attention to outlook statements to see if chief executives see any sign of recession or whether they think the economy’s just going through a soft patch. Read more »

Precinct boosts earnings, withholds $34m from Fletcher

Article – BusinessDesk

By Victoria Young

Aug. 16 (BusinessDesk) – Precinct Properties has now withheld $34 million from Fletcher Construction for delays on Auckland’s Commercial Bay project, and says the high-end development is on track for its two-2020 opening dates. Read more »

Mainzeal’s Yan to resist bankruptcy

Article – BusinessDesk

By Victoria Young

Aug. 16 (BusinessDesk) – Former Mainzeal director Richard Yan says he’ll fight pressure from liquidators at BDO after they moved to make him bankrupt. Read more »

Xero says global roll-out of core product still best option

Article – BusinessDesk

By Jenny Ruth

Aug. 15 (BusinessDesk) – Xero’s biggest immediate opportunities are to keep driving growth of its core accounting software in existing markets and to enter other geographies, says chief executive Steve Vamos. Read more »

SkyCity CEO sees no sign of slowdown yet, but is prepared

Article – BusinessDesk

By Rebecca Howard

Aug. 15 (BusinessDesk) – SkyCity Entertainment Group isn’t yet seeing the impact of a slowdown in tourism but chief executive Graeme Stephens says he’s braced for the challenge. Read more »

Potatoes vs people: govt moves to protect top vege-growing

Article – BusinessDesk

Potatoes vs people: govt moves to protect top vege-growing land
By Pattrick Smellie

Aug. 14 (BusinessDesk) – Lifestyle blocks and new subdivisions will be far harder to develop on areas of rich soil under a new national policy statement on highly productive land unveiled for submissions by the government today. Read more »

International guest nights plumb 3-year low

Article – BusinessDesk

By Paul McBeth

Aug. 14 (BusinessDesk) – New Zealand’s accommodation operators reported the fewest monthly international guest nights for three years in June as the tourism boom tapers off. Read more »

SkyCity’s profit dips as high rollers win more than epected

Article – BusinessDesk

SkyCity’s annual profit dips as high rollers win more than expected

By Rebecca Howard

Aug. 14 (BusinessDesk) – SkyCity Entertainment Group’s full year net profit dipped as it faced a bigger tax bill and ended up paying more than expected to lucky high rollers but underlying earnings beat expectations. Read more »

NZ dollar stalled; Hong Kong latest focus of China worries

Article – BusinessDesk

NZ dollar stalled; Hong Kong latest focus of China worries

By Jenny Ruth

Aug. 13 (BusinessDesk) – The New Zealand dollar was little changed as investors eyed the unrest in Hong Kong amid speculation as to what China may do next after calling anti-government protests the first signs of “terrorism.” Read more »

Foodstuffs disappointed at Countdown case

Article – BusinessDesk

Foodstuffs disappointed as Countdown case moved to arbitration

By Victoria Young

Aug. 13 (BusinessDesk) – Pak’nSave owner Foodstuffs said it is disappointed a fight over lease covenants will likely play out in secret, following a High Court ruling. Read more »

Govt too blase about AI threat, visiting professor warns

Article – BusinessDesk

By Victoria Young

Aug. 13 (BusinessDesk) – London School of Economics professor Robert Wade says officials in Wellington are too blase about the impact of artificial intelligence, one of four factors he sees contributing to how the “Trump era” could last 30 years. Read more »

Vodafone lands Microsoft executive for business role

Article – BusinessDesk

By Victoria Young

Aug. 13 (BusinessDesk) – Vodafone New Zealand boss Jason Paris has made a key appointment to the telco’s executive team, snaring Microsoft executive Lindsay Zwart. Read more »

Property values outside Auckland reach record high

Article – BusinessDesk

By Victoria Young

Aug. 13 (BusinessDesk) – Property values outside Auckland have reached a record high, the Real Estate Institute of New Zealand’s (REINZ) latest House Price Index shows. Read more »

Summerset Group’s total assets jump 24% to $3b

Article – BusinessDesk

Summerset Group’s total assets jump 24% to $3b, 1H net profit eases slightly
By Rebecca Howard

Aug. 13 (BusinessDesk) – Summerset Group reported a slightly lower first half net profit as valuation gains for the retirement village operator and developer continued to ease but its total assets jumped to more than $3 billion. Read more »

Owner-occupier debt-to-income ratios trending down

Article – BusinessDesk

Owner-occupier debt-to-income ratios trending down

By Jenny Ruth

Aug. 12 (BusinessDesk) – The number of mortgage borrowers with debt-to-income ratios greater than five has fallen to 31 percent in June from 37 percent two years earlier, according to new data the Reserve Bank is collecting. Read more »

Rakon outlines 5G challenges ‘just around the corner’

Article – BusinessDesk

Rakon outlines 5G challenges ‘just around the corner’

By Victoria Young

Aug. 9 (BusinessDesk) – Rakon told shareholders it is in the best position possible to make money from the roll-out of 5G mobile services, but any impact won’t be seen until the fourth quarter of the next financial year at the earliest. Read more »

NZ dollar heads for 0.8% weekly decline on RBNZ shock

Article – BusinessDesk

NZ dollar heads for 0.8% weekly decline on RBNZ’s shock rate cut

By Jenny Ruth

Aug. 9 (BusinessDesk) – The New Zealand dollar was little changed as the dust settled from the Reserve Bank’s shock slashing of interest rates earlier this week and investors were unfazed by deputy governor Geoff Bascand’s speech elaborating on the reasoning behind the cut. Read more »

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