20 Apr 2015

Business Briefs

10:34 am on 20 April 2015

A round-up from Radio New Zealand's business reporters - including a profit rise for Goldman Sachs, great expectations for international airlines, and a Netherlands-New Zealand business agreement.

Profit rise for Goldman Sachs

The American banking giant Goldman Sachs has reported a sharp rise in profits thanks in part to an improvement at its investment banking arm.

Net earnings for the first three months of the year were US$2.75 billion, up 41 percent, from a year earlier.

This is its highest quarterly revenue in four years.

Separately, its rival Citigroup has posted net income of US$4.7 billion, up by a fifth compared with a year ago.

The International Air Transport Association said airlines' profit expectations for the year ahead were positive.

A survey by the association said that was consistent with improvements in financial performance.

The survey shows falling input costs and growth in volumes are behind the positive outlook, while employment in the airline sector has risen, in the first quarter.

Binational sensor technology agreement

The Netherlands-based Lely Group and New Zealand's Livestock Improvement Corporation are setting up a partnership to accelerate developments in sensor technology, which is designed to monitor animal performance, production and health.

The partners will also work together to develop a global distribution channel for the inline milk sensors.

The new partnership structure will take effect by the beginning of June.