The Financial Markets Authority has charged two contributory mortgage brokers for failing to file their annual reports on time. Christchurch-based Prudential Mortgage and Auckland-based First Mortgage Investments have each been charged for failing to deliver an annual report to the Companies Registrar for the year ended March 31, 2013 by the end of last June, the FMA said in a …

Meridian Energy won’t invest further in Australian renewable energy projects if the Federal government’s Renewable Energy Target subsidy scheme is scrapped, says chief executive Mark Binns. He was speaking at the company’s first half-year profit announcement since its partial privatisation in October. The Australian government announced Monday that the RET scheme will be reviewed, although Binns was optimistic any change …

  The Sydney-based company eked out a net profit of A$2.6 million in calendar 2013, turning from a loss of A$507.4 million in the previous year, when it slashed the value of its goodwill and mastheads. The media group has been restructuring its business over the past year, quitting assets including its stake in an outdoor advertising venture, its unprofitable …

Shares in Trade Me Group fell to a 19-month low, making the stock the worst performer on the benchmark NZX 50 Index, after New Zealand’s largest online auction site posted lower-than-expected first half profit, raising doubts about its future earnings growth. Trade Me shares fell as low as $3.68, and recently traded down 6.2 percent at $3.80.The Wellington-based company said …

Ebos Group said first-half profit more than tripled, meeting its guidance after the acquisition of Symbion, and said its top executives would be replaced by managers of the Australian drug distributor and distributor. Profit was $49.9 million in the six months ended Dec. 31, up from about $15 million a year earlier, the Christchurch-based company said in a statement. Sales …

New Zealand Oil & Gas, which has interests in the Tui and Kupe fields, reported 47 percent decline in first half profits, as revenue growth was offset by a near doubling of exploration and evaluation costs. Net profit fell to $4 million in the six months ended Dec. 31 from $7.6 million a year earlier, the company said in a …

The New Zealand dollar outlook is mixed this week as weaker economic data from the US and positive risk appetite underpin demand while traders mull whether the kiwi can continue its recent ascent. The local currency may trade between 82 US cents and 84.80 cents this week, according to a BusinessDesk survey of 11 currency strategists and traders. Four expect …

New Zealand services sector activity, which accounts for about two thirds of the economy, expanded for a ninth month in January, underpinned by a six-and-a-half year high in new orders. The BNZ-BusinessNZ performance of services index increased 0.5 points to 58.1, the highest level since November 2007, and was up from 53.3 a year earlier. A reading of 50 or …

Property For Industry, which increased its portfolio by two thirds after a merger with Direct Property Fund last year, said annual profit rose 50 percent as it benefited from an increased rental flow while keeping expenses in check. Net profit was $40.5 million for the year ended Dec. 31, from $26.9 million a year earlier, the Auckland-based company said in …

BlueScope Steel, Australia’s largest steelmaker and owner of the New Zealand Steel mill, has agreed to buy assets of Fletcher Building’s Pacific Steel in a $120 million deal that will lead to the closure of Fletcher’s steel mill at Otahuhu at the end of 2015. The transaction will leave BlueScope as the nation’s only steelmaker and requires approval from the …