Topics

Toll Holdings has revealed a possible cost of $19 million from its battle with the Inland Revenue Department over the use of optional convertible notes to shuffle trans-Tasman income. But the company has yet to include provisioning in its accounts for the possible loss of its tax dispute as a key Court of Appeal decision is still pending on the …

The share price of Diligent Board Member Services rose as much as 2 percent after the provider of software for company directors posted record sales in 2012. Diligent said fourth-quarter new sales of US$6.4 million (NZ$7.6 million) took annual new sales to US$26.3 million, a 66 percent increase over the previous year. The Asia-Pacific region experienced exceptional growth in the …

A lack of wind is being blamed for the acrid grey smog currently blanketing Beijing with the city enduring some of the worst pollution on record. Official readings taken over the weekend showed PM2.5 readings in Beijing of 886 micrograms per cubic metre. To give that some perspective – 25 micrograms is the WHO’s cut-off level for safe emissions. The …

New Zealand’s economy surged in the December quarter to the best level since mid-2007, according to the Quarterly Survey of Business Opinion, which shows firms are more optimistic and output is increasing across the board. The survey, conducted by the New Zealand Institute of Economic Research (NZIER), shows a rebound in activity, particularly in Canterbury but also a “very good …

The New Zealand dollar was testing 84 US cents in early trading after having a strong session overnight as the US dollar weakened. The kiwi was at 83.94 US cents at 8am, up from 84.02 US cents at 5pm on Monday. It traded as high as 84.30 overnight. Support at 83.60 cents held on Monday so the kiwi resumed its …

Wall Street fell amid concern that stock market darling Apple is facing headwinds, fanning concern that other companies might struggle with demand for their products and services too. Shares of Apple sank on reports that it’s slowing down production of its iPhone 5, increasing worries the appeal of some of its products is waning. The stock was last down 3.3 …

New Zealand shares rose in relatively light trading, the positive tone led by high-yielding retailer Pumpkin Patch and the country’s largest construction company, Fletcher Building. The NZX 50 Index rose 22.16 points, or 0.53 percent, to 4153.91 at 5pm. Within the index, 26 stocks rose, while 10 fell, leaving 14 unchanged. Turnover was $69.0 million in light early new year …

The New Zealand dollar nudged higher on Monday after falling late last week and a test of higher levels is in prospect this week if data is supportive. The kiwi was at 84.02 US cents at 5pm, up from 83.71 US cents at 8am but still down from 84.25 US cents at 5pm on Friday. The NZIER business confidence survey …

The price of internet connection to the rest of the world is dropping again as New Zealand’s only international cable owner, Southern Cross Cables, announces a 20 percent cut in its capacity prices. However, critics of the single carrier say it should be cutting its fees much harder to encourage the uptake of fast internet services which government policies have …

The former owners of Blue Star Group have swallowed a $173 million goodwill write-off and don’t look to be getting much from the sale of assets as the Australasian printing company is broken up. But the future of New Zealand’s largest commercial printer has been secured with the sale of the business to Australian private equity firm Mercury Capital and …