News
Fletcher Building revises initial offer to buy Steel & Tube
Fletcher Building has withdrawn its takeover offer for Steel & Tube, after its increased puchase price was snubbed.
Shareholder takes NZX to task over costs and strategic plan
A shareholder in NZX is fed up with the market operator's progress in implementing changes that will turn its fortunes around and has published an alternative strategic plan for it to follow.
Synlait Milk's profit climb with infant formula sales growth
Speciality dairy producer Synlait Milk has nearly doubled its profit with a strong increase in sales of infant formula.
Fonterra under pressure to reveal future plans
Dairy giant Fonterra is expected to post a substantial annual loss when it releases its financial results on Thursday, but as much attention will be on its future plans as on the numbers.
Forestry deal shows NZ 'open' for investment
Overseas forestry companies are expected to show more interest in New Zealand's forestry sector after a successful deal involving an Australian company.
Slower price growth in housing market through winter
The winter season has sent a chill through the housing market, with slower price growth and less competition for first time home buyers.
Consumer confidence holding up, despite business gloom
Consumers are more optomistic than businesses in the latest confidence surveys but the two results point to a potential slowdown in the economy by the end of the year.
Profit stacks up for Kiwi Group
Kiwi Group, which owns KiwiBank, has more than doubled its annual profit.
Drop in Vector profits as company faces challenges
Vector's profits dropped by 11 percent in the year to June.
Fletcher Building announces $190m full year loss
Fletcher Building has made a worse than expected full year loss as the problems with major projects overwhelmed the earnings of the rest of the group.
Mercury's net profit rises 27 percent on record hydro generation
Mercury Energy has made a strong full-year profit driven up by record hydro generation.
Trade war unlikely to derail growth of US economy
The world's biggest economy is in good shape and in no danger of recession and under no threat from any trade war, according to a senior economist at S&P Global.
Supreme Court rules Feltex claim was untrue
The Supreme Court has opened the door for further action against the directors of the failed Feltex Carpets after finding that a revenue forecast provided to shareholders was untrue.
Skellerup makes record profit
Rubber-goods maker Skellerup has made a record profit driven by strong sales growth in New Zealand and other parts of the world.
Investment in infrastructure not equal to the task - report
The country needs to speed up its infrastructure spending to make up for a deficit that is hurting the economy and will only get worse with climate change, according to a new report.
Freightways reports smaller than expected full-year profit
Freightways has reported a smaller-than-expected increase in profit as it counts the inflationary cost of a tight labour and increased spending on infrastructure.
Directors under pressure with escalating workload and risks
Who wants to be a director? That's a question many are asking themselves - with relatively little reward for an increasingly risky and complex role.
Financial Markets Authority criticises NZX's market regulation
The Financial Markets Authority has given the NZX a black mark in an annual review of the market operator.
Tegel profits fall, sales flat
The country's biggest poultry producer, Tegel, has reported a drop in profit and flat sales.
House sales slow, prices flat in winter slowdown
Housing prices are in a holding pattern with values in Auckland and Wellington at a standstill.
Vodafone, Vocus to invest millions in broadband services
Vodafone and Vocus are promising a bigger, brighter broadband service when the national high speed fibre fibre network is deregulated in two years.
Spark customers win deal on Sky sports coverage
Sky TV and Spark have agreed that Sky's Fanpass will be available to Spark customers with unlimited broadband plans.
Spark downgrades profit outlook
Spark has downgraded its profit outlook as it plans to spend more on a restructuring programme, adding $55 million of costs to the bottom line.
Steel & Tube writes off $54m following review, to make big loss
The share price of Steel & Tube has dropped by nearly a quarter in early trading after the building supplies company said it would take a $54 million write-down.
Telcos work together to combat scammers
The telecommunications industry is banding together to combat scammers and provide more consumer protection.