Wednesday, 31 August 2016

MARKET CLOSE: NZ shares rise, led by Warehouse, Ryman while Orion, Chorus keep falling

The S&P/NZX 50 Index gained 10.88 points, or 0.2 percent, to 7,398.83.



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Zespri cuts forecast 2017 profit, grower returns for Green kiwifruit on increased supply

 Zespri chief executive Lain Jager has cut the forecast corporate profit range for the year ending March 31, 2017.



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Dollar gains on signs of robust economy, while Fed hikes wait on run of strong data

The kiwi traded at 72.51 US cents as at 5pm in Wellington.



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Spark issues 10-year bond, paying 3.94%

The company is paying 1.55 percent above the ten-year swap rate.



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Comvita to become biggest investor in SeaDragon after funding plan backed

Comvita emerged on SeaDragon’s register with a 13.06 percent stake after agreeing to facilitate the completion of the company’s 3-for-5 renounceable rights offer last September.



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Airways signs big US air traffic deal after reporting record year

The US Federal Aviation Authority will use New Zealand technology to pre-screen potential air traffic controllers, With special feature audio.



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Seeka acquires Vital Foods' Kiwi Crush, Crushies, plans food-tech centre in Bay of Plenty

Seeka was on the lookout for other potential value-added assets it could acquire.



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Veritas share price plunges after result

The Shareholders’ Association says the board needs to be held to account for ‘appalling’ shareholder losses.



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Westland increases milk price forecast

But the cooperative’s chairman says the strong kiwi dollar continues to be a challenge.



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While you were sleeping: UPDATED EU ruling sours Apple, pulls Wall St down

Dow drops 49 points in wake of EU tax ruling on Apple. With special feature audio.



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Monday, 29 August 2016

Litigation ‘unwelcome but necessary,’ says PGC

Accounts, filed a day late, show $3 million loss.



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NZOG to offer 40 million share buyback

Timed for September 16.



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Sharemilkers most likely to face 'undue pressure' from banks, survey finds

The survey shows 80% of all farmers and 78% of dairy farmers were “very satisfied” or “satisfied” with their banks.



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Mad Butcher-owner flags going concern issue

Veritas reveals negotiations are under way with ANZ Bank.



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Airways full year profit jumps 54% as NZ aviation booms

The Wellington-based company reported net profit of $23.2 million in the year to June 30.



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While you were sleeping: UPDATED Solid US consumer spending boosts stocks

Financials make most gains as the Dow rises 108 points.



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Tenon may shed US assets for $US110m

UPDATED: The offer from Brooklyn-headquartered Blue Wolf Capital is at the low end of the valuation range.



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Wellington Drive posts full year operating profit on soaring US sales

Sales in the North American region rose by 119%.



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NZ dollar edges up

The kiwi traded at 72.54USc at 8am in Wellington. With special feature audio.



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Auckland Airport’s increased capex will help offset pricing reset

But analysts warn the current rate of growth is not sustainable. With special feature audio.



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Sunday, 28 August 2016

King Salmon signals IPO that may raise about $30m to build more farms

More detail on the offer is expected this Wednesday. With special feature audio.



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Intueri first-half profit drops 43% on year-earlier one-time gains; revenue climbs

Net profit fell to $3.5 million in the six months ended June 30.



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Mark Ratcliffe stepping down as Chorus boss: the challenges for his successor

The master negotiator resigns after a mixed year. With special feature audio.



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Airwork boosts full year profit 58%

Revenue for the year ending June 30 increased by 15 percent to $166 million.



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Chorus full-year profit growth stalls on lower regulated prices

$91 million profit; Ratcliffe steps down.



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Kiwibank says it’s not capital constrained as it loses mortgage market share

Maybe it’s denial or maybe it’s just politics but the government-owned Kiwibank’s CEO, Paul Brock, says Kiwibank is growing its market share in the mortgage market when the numbers say otherwise. With special feature audio.



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NZ dollar tumbles after Fischer reiterates view of September rate hike for Fed

The kiwi traded at 72.26USc at 8 am in Wellington from 73.26USc in New York on Friday.



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World Week Ahead: US jobs data up next

There’s the ADP employment report on Wednesday. With special feature audio.



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Fracking and health

An earthquake measuring 6.2 rocked central Italy in the early hours of Aug. 24, leaving more than 200 dead and hundreds missing in the rubble of the disasters.



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Saturday, 27 August 2016

BOOK EXTRACT: Three Cities: Seeking Hope in the Anthropocene

Business journalist Rod Oram examines what fundamental changes need to be made – and how – if “ten billion people are going to live well on this planet in 2050.”



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Friday, 26 August 2016

MARKET CLOSE: NZ shares fall; Air NZ dips on gloomy outlook, investors cash in recent gains

The S&P/NZX 50 Index declined 35.98, or 0.5 percent, to 7391.3.



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NZ dollar little changed as hopes grow for clear signal on US rates from Yellen

The kiwi traded at 73.10 US cents as at 5pm in Wellington.



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Cavalier returns to full-year profit after year-earlier impairments

Profit was $3.1 million in the year ended June 30.



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KiwiRail posts $85.5m 'above-rail' full year earnings, despite falling freight

Revenue for the year fell 3.7 percent to $694 million.



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Carry on: Air NZ farewells B767, upgrades business cabins and more

The business travel news wrap also includes the world’s longest budget flights. With special feature audio.



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SHOESHINE: How Trustpower’s jam sandwich tastes

Trustpower’s split into a largely New Zealand-based utility and a largely Australia-based windfarm developer is certain to cost shareholders up to $90 million.



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What to expect for Auckland Airport earnings

Passenger numbers increased by about 8% to nine million over the year.



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Air NZ warns of bumpy ride ahead

Top result from the airline, but how does its CEO expect to deal with increasing competitive pressures?



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Seeka hikes interim dividend as first-half profit almost doubles

Net profit rose to $7.1 million, or 43c per share, in the six months ended June 30.



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Tough second-half hurts NZ Post and Kiwibank full year earnings

The Kiwibank group saw profit fall 0.8 percent to $131 million in the latest financial year.



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Wednesday, 24 August 2016

Vector seeks more freedom from regulatory shackles

The energy sector has to get out of the mentality of economic theory, says CEO.



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New milk price forecast could could lift economy by $800 million

Milk prices have started to improve as global demand and supply continues to rebalance. With special feature audio.



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Countdown's earnings slip on record revenue

Countdown's ebit flat for the full year.



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Methven on track for $130m revenue by 2018

The listed shower manufacturer continues growth after reversing declines. With special feature audio.



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Invivo Wines on track with profit forecasts, expanding to the US

The equity crowdfunded winemaker holds its first annual shareholder meeting.



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Sheep milk producer gets $12.6m Crown funding to develop value chain

The global sheep milk market has been estimated at $US8 billion at the farmgate.



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Infratil stretches infrastructure definition; not a Trustpower seller

Infratil is looking outside of traditional areas in its search for new investments. With special feature audio.



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Methven books $2.7M after cancelling earn-out with Chinese factory owner

UPDATED: The company profit was $8.6 million. With special feature audio.



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SLI Systems curbs full year loss, regroups as recurring revenues fall

The company posted a $162,000 loss for the year to June 30.



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Ebos posts gain in full-year profit as sales lift

Profit rose to $127 million, or 84c a share, in the 12 months ended June 30.



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Tuesday, 23 August 2016

Meridian Energy annual earnings up 5%; pays special dividend

Meridian declared a 5% increase in earnings before interest, tax, depreciation, amortisation, and changes in the value of financial instruments at $560 million for the year to June 30.



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Metlifecare lifts annual earnings, dividend on unit sales growth, beating estimates

Underlying earnings rose 26 percent to $66.1 million in the 12 months ended June 30.



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A2 Milk meets guidance with return to profit, 127% jump in revenue

Profit was $30.4 million in the 12 months ended June 30.



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Genesis annual earnings slip 2.7% on weak energy prices, competition

Earnings before interest, tax, depreciation, amortisation and movements in the value of financial instruments declined by $9.5 million to $335.3 million in the year to June 30.



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While you were sleeping: UPDATED Wall St rally pushes Nasdaq to intraday record

The focus moves from earnings to Federal Reserve chairwoman Janet Yellen’s speech on Friday.



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Wynyard announces huge loss but still a going concern say directors

Full year revenue guidance cut to $27-30 million.



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Editor’s Insight: Farewell Rio, bring on the Super Mario Olympics

The 2020 Tokyo Games will be a high-tech economic bonanza aimed at doubling tourist numbers in the long term. With special feature audio.



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NZ dollar dips below 73USc as central bank sticks to rate track view

The kiwi slipped to 72.91USc from 73.16USc yesterday.



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Tourism Holdings promises more good returns to come

Tourism Holdings chief executive Grant Webster is promising his company won’t be resting on its laurels after lifting annual net profit 21%. With special feature audio.



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MARKET CLOSE: NZ shares mixed

The S&P/NZX index increased 5.17 points, or 0.1%, to 7467.33.



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Monday, 22 August 2016

MARKET CLOSE: NZ shares back at record highs; Genesis, MetroGlass, A2 gain

The S&P/NZX 50 Index gained 56.91 points, or 0.8 percent, to 7,462.16.



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OCS sells Envirocomp back to owners after writing down value to zero

Frontier Group Partners, a consortium including Envirocomp founder Karen Ashby, bought the local firm for an undisclosed sum.



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Yashili NZ agrees to sell $18.7m of base powder dairy products to Danone

The deal is disclosed in a notice to the Hong Kong stock exchange.



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NZ dollar falls as Fed speakers talk up rate hikes, Wheeler looms

The kiwi declined to 72.16 US cents at 5pm in Wellington.



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US holidaymakers boost Auckland Airport arrivals in July

Two US airlines have made a big impact in their first full month of operations.



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Transforming the dairy value chain

Imagine a time when epidemics of non-communicable diseases like diabetes are treated by eating special foods that are registered as medicines. With special feature audio.



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ANZ sees dairy downside risks diminishing

New Zealand’s biggest bank has unveiled a rosy outlook for the economy following last week’s GDT. With special feature audio.



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Nib doubles NZ earnings, sees further growth

Underlying operating profit in New Zealand jumped to $A17.3 million in the year ended June 30.



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Fewer ship vists, higher rates push down NZ export log prices

The average wharf gate price for New Zealand A-grade logs dropped to $110 a tonne in August.



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Bluescope seeking another $A15m of annual savings from NZ Steel

Earnings before interest, tax, depreciation and amortisation from Bluescope’s two Auckland units, NZ Steel and Pacific Steel, came in at zero in the year ended June 30.



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Friday, 19 August 2016

On tax, we can’t see the wood for the trees

Distraction is one of the great political arts. With special feature audio.



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NZ dollar heads for 1.1% weekly gain as interest rate advantage remains attractive

NZ’s  relatively high yields continue to attract investors in search of decent returns in a world where major central banks are running near-zero interest rate policies.



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MARKET CLOSE: NZ shares rise; Tegel gains on Australian outlook, Port of Tauranga drops

New Zealand shares rose, led by Tegel Group on prospects for growth in Australia while Port of Tauranga dropped following broker downgrades.



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Kiwi tech company Endace posts $US97.4 loss

But it has secured significant contracts since balance date, senior executives say.



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Michael Hill's profit down, hit by tax dispute and ASX listing costs

The acting chief executive opens up about the benefit of hindsight in settling the messy IRD tax dispute. With special feature audio.



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Port of Tauranga has headroom to chase opportunities

$140 million capital return it has flagged but growth opportunities can be pursued



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NZ wool prices drop at auction as demand softens during European holiday period

The European summer holiday period kept some wool buyers out of the New Zealand market this week, denting demand for fine crossbred wool.

The price for 35-micron wool fell to $5.50 a kilogram at yesterday’s South Island wool auction from $5.55/kg when it was last traded at the previous South Island auction two weeks ago, according to AgriHQ.



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AMP's NZ unit sees first-half profit drop on lower KiwiSaver inflows

AMP Financial Services says inflows of KiwiSaver funds slowed in the first half of 2016 



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Consultant paid more than CEO at Intueri

No point ‘nickel and dime-ing’ to get the necessary skills, says chairman  



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Thursday, 18 August 2016

Loans to investors risky under new LVRs, Icebreaker’s ultimate challenge, Irresponsible politics and statistics

In NBR Print today.



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Half of Green Party MPs in 'unethical' KiwiSaver schemes

But that just illustrates how difficult it is to make informed decisions about KiwiSaver, the Greens’ Julie Anne Genter says.



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FMA questions NZAX-listed Australasian Food Corp's audit report

The food and beverage investor was late in filing its annual results.



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Moutter challenges contractors, other companies, to adopt 'Spark pay'

With special feature audio.



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Skellerup CEO says its opportunities to grow now are stronger than ever

Coming off a tough year in which dairy and oil prices and the strong New Zealand all conspired against the company, Skellerup’s chief executive, David Mair, is nevertheless upbeat about his company’s prospects.



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Was Brownlee out of line?

NBR poll participants weigh in over this week’s war of words between Gerry Brownlee and Otago University’s Andrew Geddis.



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Duncan Saville steps down from Infratil board after 22 years

Infratil shares fell 0.6% to $3.38.



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EY names NZ's top entrepreneurs

But only one can represent New Zealand in Monaco next year.



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NZ dollar little changed near 73USc as traders question Fed's rate track

Minutes of the Federal Reserve’s last policy review showed little appetite for a rate hike in the near-term.



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While you were sleeping: Oil climbs above $US50

Wall Street was mixed, trading near record highs.



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Wednesday, 17 August 2016

MARKET CLOSE: NZ shares gain; Fletcher Building up on outlook

New Zealand shares rose on Fletcher Building’s positive annual earnings and outlook while NZX dropped after posting first-half results that included costs of its legal battle with Ralec.

The S&P/NZX 50 Index gained 44.34 points, or 0.6%, to 7355.01. Within the index, 27 stocks rose, 13 fell and 11 were unchanged. Turnover was $175.3 million.



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NZ dollar climbs after weak US CPI, strong dairy auction

The New Zealand dollar climbed after figures showed the US consumer price index was flat last month while the price of whole milk powder jumped to a 10-month high overnight.

The kiwi rose to 72.52USc at 5pm in Wellington, from 72.26USc yesterday. The trade-weighted index advanced to 76.68 from 76.07 yesterday.



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New Talisman places share shortfall, raising $1.77m

The company said in July that it had raised just $4.69 million in a fundraising that management had hoped would raise up to $12.26 million. 



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SFO 'pleased' by Devoy fraud sentence over $9.2m fraud

Five, including Mrs Eli Devoy, receive sentences.



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Rigorous analysis doesn't equal 'ideological burp' – Crampton chides Film Commission

NZ Initiative research head takes up cudgels after the Treasury’s position on film subsidies is sledged. With special feature audio.



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Pumpkin Patch seeks flexibility from banks

Pumpkin Patch’s sales fell 16% to $102.8 million in the first half from a year earlier, with online sales down 13%.



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GDT: What’s behind the leap in whole milk powder prices?

Whole milk powder prices have risen almost 30% in the last month and are now back to levels last seen in October last year. With special feature audio.



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NZ producer input prices rise faster than output prices in second quarter

“Despite the June quarterly increase in costs paid by fuel manufacturers, fuel prices have fallen by about half since mid-2012." 



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Fletcher Building profit up 71%: CEO pay rises 17%

Fletcher Building chief executive Mark Adamson received a 17% pay rise this year to $4.72 million.



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Job market shows jump

The Household Labour Force Survey shows unemployment dropping to 5.1% of the population and a 69.7% labour force participation rate.



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Tuesday, 16 August 2016

Opus International sinks into the red

The Wellington-based company posted a net loss of $23.1 million in the first half.



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Soft earnings expected from Fletcher Building

Fletcher’s profit expected to sit in the middle of its guidance range



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Martin Aircraft to enter technology-sharing agreement with KuangChi, CEO to step down

Martin Aircraft is to enter a technology-sharing agreement with cornerstone shareholder KuangChi Science.



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Steady result tipped for Port of Tauranga

It’s “hard to get excited” about the expensive stock, says analyst.  



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Currency Talk: The dollar and the dairy market

Join NBR’s Jason Walls and NZForex senior corporate FX Nick Tvedt as they break down the week’s biggest currency news. With special feature audio. 



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F&P Healthcare accuses competitor of stealing ideas

F&P files patent infringement proceedings against its largest competitor. 



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UPDATED: Spark, 2degrees formally declare opposition to Sky TV, Vodafone merger

Merger would entrench Sky’s monopoly on premium sports, put kibosh on development of wholesale market.



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While you were sleeping: Fresh Wall Street records

Stocks have retained a hot pitch.



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NZX participant rule review would jettison overlap with FAA, FMA rules

The paper is a follow-up to an initial NZX report on participant rules released last November.



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Zespri to resume China shipments

Zespri will now sell an extra seven million trays to China this year.



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Sunday, 14 August 2016

Summerset CEO says government funding key for caregiver wages

“Without any government funding to match increased wage costs you are going to see significant issues.”



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Freightways increases profit despite declining mail market

The company reveals outlook for year ahead. With special feature audio. 



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Duelling experts: Wellington airport stands by its runway extension consultants

The national carrier, Air New Zealand, is particularly opposed as it structures its long-haul international routes through Auckland.



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Freightways reports steady earnings rise; forecasts more economic growth in year ahead

Directors declared a fully-imputed final dividend of 14.5c per share.



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Spark introduces minimum pay of $40K – what will it cost shareholders?

Scroogey shareholders, where are the sums.



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NZ services sector activity slows to 20-month low

The lowest reading since November 2014



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Pushpay expects to reach revenue target early; shares jump 11%

The stock has gained 37% this year, ahead of the index’s 14% advance.



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Wynyard responds to questions – sort of

Software company under fire for new borrowing says it is getting on with business.



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Contact posts little changed full-year earnings, sees demand lifting

In the wholesale market, the cost of energy improved by $4 per megawatt hour.



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What's 'fair' clearer following Sky's failed Fairfax injunction

Case underlines need for fair use provisions in New Zealand, copyright expert Rick Shera says.



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Friday, 12 August 2016

MARKET CLOSE: NZ shares gain, led by Steel & Tube and Synlait earnings, Auckland Airport drops

The S&P/NZX 50 Index rose 9.27 points, or 0.1 percent, to 7,363.1.



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Steel & Tube shares rise to two-week high as earnings beat guidance

UPDATED: Underlying profit was $19.4 million in the year ended June 30. With special feature audio.



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Silver Fern shareholders crush opposition to China deal

We’re getting on with business, says co-op chairman



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NZ dollar steady at week's end as post-RBNZ excitability subsides

The kiwi dollar traded at 71.94 US cents at 5pm in Wellington.



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What to look out for in Freightways results

Below-trend earnings growth forecast for Freightways.



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Carry on: AirAsia X confirms Europe, Qantas goes nonstop to London and more

Business travel news also includes new Dreamliner route for Air New Zealand and angels on board. With special feature audio.



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Wool prices drop at auction as stronger currency bites

Some 55% of the 8640 bales on offer at yesterday’s North Island auction.



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Futures prices signal lift in next week's GlobalDairyTrade auction

The September whole milk powder contract on the NZX futures market last traded at US$2,560 a tonne.



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Oceania Natural offers 'manuka bonds' to fund honey supply

Sean Joyce’s CM Partners designed the new type of bond, secured over a barrel of honey.



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Goodfellows' Amalgamated Dairies sells down Sanford stake

Sanford’s biggest shareholder sold 5 million shares on market for $27.5 million.



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Thursday, 11 August 2016

MARKET CLOSE: NZ shares fall, led by SkyCity

The NZX 50 fell 13.55 points, or 0.2%, to 7349.61.



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MARKET CLOSE: NZ shares rise as Spark's yield attracts; Kathmandu snaps 5-day rally

The NZX 50 Index rose 4.21 points, or 0.1 percent, to 7353.82.



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Brierley makes new offer for Kirkcaldie assets at 7% premium

Brierley’s approaches have so far been spurned by the directors of Merchants.



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NZ dollar hits 15-month high after Wheeler's rate cut disappoints

The kiwi rose as high as 73.41 US cents after the policy decision was announced. With special feature audio.



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T&G Global CFO Hamster-Egerer to return to parent BayWa in February

Chief executive Alastair Hulbert said an announcement will be made about the CFO role in the next few weeks.



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Falling NZ lamb numbers may not bolster prices

The country’s lamb crop is expected to drop for a second consecutive year this spring.



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Dollar soars as Wheeler cuts OCR to 2%, says further easing required

UPDATED: Some traders were expecting a more definitive statement about further easing. With special feature audio.



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ComCom files charges against Youi Insurance

The Commerce Commission has filed charges in the Auckland District Court against insurance firm Youi NZ.



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Food prices slide 1.3% in July, on weakness in dairy products

Food prices dropped 1.3 percent in July from the same month a year earlier.



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NZ dollar shoots up 1.4USc after OCR cut before easing

The currency rose as high as 73.4USc. With special feature audio.



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Tuesday, 9 August 2016

Fairfax Media reports larger-than-expected decline in NZ earnings

Total underlying ebit for the group as a whole was A$213.2 million. With special feature audio.



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SkyCity annual profit rises 13% on Auckland casino trading, high-roller gamblers

Net profit rose to $145.7 million, or 24.3 cents per share.



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NZ guest nights jump to a record in June amid tourism boom

National guest nights jumped 12% to 2163 in June from the same month a year earlier.



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Flossie appoints new directors, continues capital raising

Hair and beauty appointment booking company is on track to break even by the end of next year, founder says. With special feature audio – and video.



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Ex SkyCity chief paid $2.3m to walk away

Annual report details total pay of $6.1 million, not counting share-based incentive.



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While you were sleeping: UPDATED Wall St stocks steady as oil slips

Benchmarks are near record highs but trading activity is low.



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NZ dollar gains

The kiwi rose to 71.55USc at 8am in Wellington. With special feature audio.



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NBR RICH LIST 2016 featured profile: Phillip & Jackie Mills

Fitness entrepreneur turned green campaigner Phillip Mills has his eyes set on growing a billion dollar business. With special feature audio.



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Editor’s Insight: How social media is transforming the hospitality industry

Bars and restaurants are changing to satisfy new dining and drinking habits. With special feature audio.



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PGG Wrightson eschews 'big-bang clever deals'

PGG Wrightson surprised analysts by producing a higher annual result after repeated upgrades from the company. With special feature audio.



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Monday, 8 August 2016

Dollar falls as expected rate cut this week seen as start of deeper easing cycle

The kiwi traded at 71.11 US cents as at 5pm in Wellington.



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MARKET CLOSE: Kathmandu leads the NZX 50 higher on positive US sentiment

The S&P/NZX50 Index rose 39.88 points, or 0.6 percent, to 7,348.3.



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Key insists Zespri's China rot problem not evidence of trade retaliation

With special feature audio.



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Zespri says its brand damage fallout will be limited

Fruit-rotting fungus discovered in a kiwifruit shipment to China this month. With special feature audio.



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E-cigarette legalisation: For love or money?

A migration of smokers to e-cigarettes will lessen the flow of taxes on smoked tobacco.



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NBR RICH LIST 2016 featured profile: Kraus family

Described by NBR in 1991 as a mystery German investor, Bay of Islands resident Peter Kraus is no less of a mystery today. With special feature audio.



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Auckland port third in world to automate

A game changer for the port.



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ASX-listed juicemaker Food Revolution Group sells NZ assets

Food Revolution’s New Zealand business, Roxdale Foods, is based near Alexandra.



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Michael Hill's Parsell steps down after 16 years leading jewellery company

Mike Parsell joined the company when it operated just three stores.



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Landcorp ditches palm kernel feed to boost environmental credentials

Landcorp wants to move away from being a commodity supplier of agricultural products by developing higher=value products.



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Saturday, 6 August 2016

Dollar gains vs. pound after BoE easing, traders await US payrolls

The local dollar traded at 54.78 British pence as at 5pm in Wellington.



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MARKET CLOSE: NZ shares rise for second day; A2, Meridian gain, Intueri tumbles

The S&P/NZX 50 Index 10.33 points, or 0.1 percent, to 7,308.41.



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Zespri suspends shipments to China to put new checking measures in place

The Tauranga-based company is working with suppliers and the Ministry for Primary Industries to develop new pre-shipping measures.



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AFT Pharmaceuticals affirms it is on track to break even within two years

The company reported an $8.9 million loss.



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Marlborough Wine Estates: a lot to prove after a flying start

With special feature audio.



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HUNTER’S CORNER: The fund manager’s revenge

A new non-profit KiwiSaver provider sets up an intriguing battle. With special feature audio.



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Sunday Business & Week in Review

Rod Drury, co-founder and CEO of Xero, joins Andrew Patterson on Episode 23 of Sunday Business.



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Carry on: Nelson terminal video, Vanuatu, new routes and more

Business travel news also includes EuroWings deal with Singapore Airlines and most Europe-AsiaPacific routes. With special feature audio.



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Why TPP (or something like it) is inevitable

In geopolitics, concepts without utility don’t last very long.



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NBR RICH LIST 2016 featured profile: Wendy Pye

Being chosen by Forbes magazine as one of Asia’s top 50 Power Businesswomen in 2016 is just the ticket for fun-loving Auckland publisher Dame Wendy Pye. With special feature audio.



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Thursday, 4 August 2016

Wool prices mixed at weekly auction as buyers target specific fibres

Prices for mid-micron wool increased an average 1 percent compared with last week’s South Island auction.



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T&G Global first-half profit jumped 89% on sales

Profit rose to $22.7 million, or 18.2c a share in the six months ended June 30.



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Intueri chief executive quits

 Training provider updates market on performance.



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Arvida asks for director fee hike

Iffy timing given Terranova pay equality debate? Shareholders’ Association weighs in.



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NZ dollar jumps vs. British pound after Bank of England package surprises investors

The kiwi rose as high as 54.87 pence.



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Cavalier Bremworth catches sustainability wave with fishnet deal

Cavalier Bremworth has hooked up with an Italian company. With special feature audio.



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Editor’s Insight: Why incomes are slowing and what can be done about it

A new study says today’s generations will be worse off than their parents. With special feature audio.



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Ebos sees Terry White deal as a step toward more Australian retail pharmacy purchases

Ebos says although the deal which will give it control of one of Australia’s three largest retail pharmacy networks won’t be material, it’s a step towards further consolidation of the industry. With special feature audio.



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While you were sleeping: UPDATED Wall St steady as Bank of England drops rate

The Dow eased less than two points in a quiet day.



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MARKET CLOSE: NZ shares rise, Kathmandu gains on guidance, A2 Milk advances

New Zealand shares gained after Kathmandu Holdings affirmed earnings would rise in line with its guidance. A2 Milk also advanced.

The S&P/NZX 50 index rose 20.69 points, or 0.3%, to 7,298.09. Within the index, 24 stocks rose, 21 fell and six were unchanged. Turnover was $155.8 million.



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Wednesday, 3 August 2016

MARKET CLOSE: NZ shares drop pre-reporting season, Sky TV, Meridian and Spark lead decliners

The S&P/NZX50 Index fell 51.8 points, or 0.7 percent, to 7,277.4.



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NZ dollar falls as potential RBNZ rate cut comes into focus

The kiwi dollar traded at 72 US cents as at 5pm in Wellington.



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Green Cross to increase in-home care to elderly, says government must improve funding

Chairman Peter Merton said that Green Cross would look to “build the scope” of the primary healthcare services it offers.



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Commodity prices rise for third straight month

The ANZ commodity price index rose 2% last month.



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Supply chain costs first item on new ports alliance's agenda

National supply chain opportunities could be on cards for new alliance. With special feature audio.



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Millennium & Copthorne NZ first-half profit jumps 98% on tourist boom, CDL

Profit attributable to shareholders of the parent company almost doubled to $23.8 million in the six months ended June 30.



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Briscoe first-half profit rises at least 32% on fatter margins, rising sales

Net profit was at least $27 million in the six months ended July 31.



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Private sector wage inflation misses expectations in June quarter

Private sector ordinary time wages rose 0.4 percent in the three months ended June 30.



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NZX cash market trading falls 5.6% in July from year earlier; stock trading falls, debt rises

Total trades last month fell 5.6 percent from a year earlier to 122,670.



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Ravensdown annual earnings jump 35%

The farmer-owned cooperative reported earnings from continuing businesses before tax and rebates of $62 million in the year ended May 31.



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Tuesday, 2 August 2016

DairyNZ cuts breakeven price for dairy farmers to $5.05/kgMS

The industry body said that reflects the cuts in costs that have been introduced by farmers to try to survive a diary downturn that is now in its third season.



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MARKET CLOSE: NZ stocks drop, Kathmandu and Fisher & Paykel fall while Fonterra continues gains

The S&P/NZX50 Index dropped 27.44 points, or 0.4 percent, to 7,329.19.



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NZ dollar gains to 3-week high vs. Aussie on RBA rate cut; dairy auction looms

The New Zealand dollar traded at 95.52 Australian cents at 5pm in Wellington. With special feature audio.



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Zespri working with Chinese authorities after fungus found with kiwifruit

A spokeswoman for Zespri said the fungus, Neofabraea actinidiae, has no food safety implication.



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Wrightson shares hit 14-month high after profit upgrade gets nod of approval

The shares rose 6.4% to 50c.



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While you were sleeping: UPDATED Energy stocks slide with oil

US crude falls below $US40 a barrel for the first time since April.



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Dairy cost cutting: for how long can farmers curb spending?

The banks are indicating that cost cutting by dairy farmers is more sustainable than had been expected, says Forsyth Barr analyst James Bascand. With special feature audio.



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NZ dollar rises to three-week high against Aussie

The New Zealand dollar touched 95.20Ac.



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NZSA wanted to agitate for change at Rakon three years ago

The New Zealand Shareholders’ Association says it was lack of resources which delayed it taking action to force change at Rakon until now. With special feature audio.



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