Friday , March 31 2017
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World Week Ahead: Apple Watch, US retail sales

Apple’s new watch, a report on US retail sales, and the European Central Bank’s new quantitative easing programme will take centre stage this week. On Friday, a much better-than-expected US payrolls report fuelled expectations the US Federal Reserve will raise interest rates as early as June. Employers added 295,000 jobs …

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Fliway Group seeks up to $44.5 million in first IPO of the year

Fliway Group, the independent transport and logistics provider, is seeking to raise between $27.3million and $44.5 million through the first initial public offering on the NZX this year. The prospectus to be registered this afternoon is expected to value the company at around $70 million to $75 million. The 18-year-old …

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NZ wholesale trade rises for third quarter in December

New Zealand’s wholesale trade grew for a third quarter in the final three months of 2014, with increased activity for apparel, pharmaceuticals and furniture leading the expansion. Seasonally adjusted sales rose 0.3 percent in the three months ended Dec. 31, slowing from the 0.6 percent pace in September, and rounding …

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Fulton Hogan 1H earnings dip on weak Aussie economy

Fulton Hogan, the privately held construction firm, says first-half pre-tax earnings dropped 10 percent as Australia’s economic woes kept a lid on spending in the resources and state sectors, while the strong kiwi dollar eroded profit earned across the Tasman. Pre-tax net profit fell to $83.4 million in the six months …

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Warehouse lowers annual profit, dividend forecast on weaker trading

Warehouse Group lowered its forecasts for annual profit and dividends after New Zealand’s largest listed retailer posted weaker first-half earnings as its Red Sheds and Noel Leeming units missed expectations. Full-year adjusted net profit, which excludes one-time items and is the basis for dividend payments, will be between $52 million …

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Air NZ bins automatic travel insurance after warning from ComCom

Air New Zealand, the national carrier, will scrap its pre-selected travel insurance option after receiving a formal warning from the Commerce Commission, which is cracking down on businesses misleading consumers with ‘opt out’ additional products. The Auckland-based airline has agreed to no longer pre-tick travel insurance on its online ticketing system from April …

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MARKET CLOSE: NZ shares fall, led by Meridian, Spark, Fletcher

New Zealand shares fell, led by Meridian Energy ahead of its second instalment receipt coming due in May. Spark New Zealand and Fletcher Building declined. The NZX 50 Index fell 17.31 points, or 0.3 percent, to 5856.772. Within the index, 25 stocks fell, 19 rose and six were unchanged. Turnover was $141 million. Meridian dropped …

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NZ dollar drops after RBNZ looks at new home loan restrictions

The New Zealand dollar dropped after the Reserve Bank said it’s looking at ways to restrict lending on residential property investments, stoking speculation it would then have more room to cut interest rates. The kiwi fell to 75.52 US cents at 5pm in Wellington from 75.88 cents immediately before the release, to …

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