Saturday , June 23 2018
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2degrees acquires Snap ISP for complete business offering

2Degrees, New Zealand’s third-largest mobile telecommunications provider, is to acquire Christchurch-based internet service provider, Snap, to allow it to compete more effectively for business customers by offering a full range of mobile, broadband and fixed-line voice telephony using the internet.   The purchase, for an undisclosed sum, formally links the two companies, …

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NZ bank profits to stay strong but risks seen, S&P says

A resurgence in property prices means LVR ‘speed limits’ are like to stay in place, Standard & Poor’s says in a report that predicts banks will continue to post strong earnings growth while trading in the shadow of a “heightened risk” of a future property crash.   “The relatively low level of …

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New Zealand has a “two-speed” economy, Moody’s Analytics says

New Zealand has a “two-speed” economy as strong domestic demand cushions a weaker export sector, according to Moody’s Analytics. GDP data due tomorrow will probably show New Zealand’s economy expanded 0.8 percent in the fourth quarter of last year, said Faraz Syed, an associate economist at Moody’s Analytics, a division …

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Joan Withers named chair of Television New Zealand, replacing Walden

Professional director Joan Withers has been named chair of Television New Zealand, replacing Wayne Walden. Withers has been deputy chair of the state-owned broadcaster since 2009 and her previous experience in media companies includes being chief executive of Fairfax Media New Zealand. TVNZ dominates free-to-air broadcasting in New Zealand and …

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Fonterra’s head of Asia Pacific, Middle East, Africa unit resigns

Fonterra Cooperative Group’s managing director of its Asia Pacific, Middle East and Africa business unit, Pascal De Petrini, has resigned with immediate effect to take up a role with his former company and Fonterra arch competitor, the French food giant Danone, less than 18 months after moving to the world’s largest dairy …

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Apple lifts profit 44% on flat sales, currency gains

Apple Sales New Zealand, the local unit of the iPad and iPod maker, increased annual profit by 44 percent, on largely unchanged sales, as it benefited from a gain on its currency positions. Profit was $15.1 million in the year ended Sept. 27, up from $10.5 million the year earlier, according to its …

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