Sharemarket News

WSI first-half profit sinks 41%
7 Feb, 4:20pm
NZ Wool Services International, whose wool scouring business is the target of Cavalier Wool Holdings, reported a 41 percent fall in first-half profit as the deterioration of the global economy and a strong New Zealand dollar sapped demand.  ... More »

Auckland Airport flags higher passenger numbers
7 Feb, 4:10pm
Auckland International Airport, the country’s biggest gateway, flagged monthly gains in both international and domestic passenger numbers in December... More »

Electricity industry stalwart, Barrie Leay, dies suddenly
7 Feb, 4:00pm
Long-time electricity sector leader Barrie Leay has died suddenly, in Australia... More »

NZ card spending creeps up 3.5 percent in January
7 Feb, 3:50pm
New Zealanders boosted spending on their EFTPOS cards by 3.5 percent in January, showing tepid growth, according to transaction processor Paymark... More »

NZ Treasury flags heightened risk from European debt crisis
7 Feb, 3:00pm
The Treasury says the European debt crisis has heightened risks to New Zealand and its trading partners, though the situation isn’t as bad as the worst-case scenario painted in its pre-election fiscal and economic update (PREFU) last October... More »

NZ Dollar Outlook: Kiwi to trade at elevated levels
7 Feb, 12:50pm
The New Zealand dollar may continue at elevated levels this week as employment data confirms the local economy is in recovery and investors await any signs of breakthrough in Greece’s debt impasse... More »

BNZ keeps interest margins "broadly stable"
7 Feb, 12:20pm
Bank of New Zealand, the local unit of National Australia Bank, reduced impairment charges on bad debts and kept its interest rate margins “broadly stable” in the final three months of last year... More »

Kirkcaldie buyer yet to make firm offer
7 Feb, 11:50am
Kircaldie & Stains chairman Falcon Clouston met with a potential buyer for the company’s ailing retail business, but didn’t receive a firm offer... More »

NZ s resource management system "encourages delay"
7 Feb, 11:20am
New Zealand’s resource management consent process creates “real opportunites for a project to be intentionally delayed” by its opponents, says Bathurst Resources managing director Hamish Bohannan... More »

NZ 4Q wage inflation speeds up in private sector
7 Feb, 11:10am
New Zealand wage inflation accelerated for private sector workers and slowed for public servants in the fourth quarter, leaving overall labour costs benign enough to ensure the central bank keeps interest rates low... More »

GuocoLeisure feels impact of euro-zone debt crisis
7 Feb, 10:00am
GuocoLeisure, the Singapore-listed investment group once known as Brierley Investments, posted a decline in first-half sales on a drop in revenue from its UK-based Clermont Leisure casinos and said Europe’s debt crisis is denting sentiment... More »

NZ dollar holds near 5-month high vs. greenback
7 Feb, 9:00am
The New Zealand dollar held near a 5-month high against the greenback and near a record versus the euro following better-than-expected US jobs data and concerns Greece’s political leaders will fail to reach the conditions of a 130 billion euro ba... More »

Lombard defence: "not business as usual"
3 Feb, 2:20pm
Lombard Finance & Investments issued the offer documents that have landed it in trouble in recognition that it wasn’t “business as usual”, according to the defence... More »

UPDATED: South Canterbury's Dairy Holdings stake sold for $56.4M to existing shareholders
3 Feb, 1:50pm
The receivers of South Canterbury Finance sold the failed finance company’s 33.6 percent stake in Dairy Holdings to existing shareholders and the dairy farm group’s US inve... More »

Govt seeks more Chinese investment
3 Feb, 1:20pm
Chinese investment in New Zealand is tiny compared to Australia and needs to grow “to levels that reflect the growing commercial relationship with China,” the government says in its NZ Inc strategy for engagement with the world’s fast... More »

NZ rivals put case seeking overturn of Crafar farm sale
3 Feb, 12:50pm  2 comments
A lawyer representing a group of New Zealand farmers wanting to oust a Chinese buyer of the so-called Crafar farms argued the Chinese investor is just “putting money up” and intends to be only a passive investor... More »

Barfoot Auckland property sales lift in January
3 Feb, 12:30pm
Auckland’s January residential house sales were the strongest they’ve been in four years, according to Barfoot & Thompson... More »

Construction to be foundation of NZ economic rebound
3 Feb, 11:50am
The construction sector is likely to be the foundation of healthy growth in the New Zealand economy over the next two years, with rebuilding after Christchurch’s earthquakes only part of the lift... More »

NZ had record net loss of migrants to Australia in 2011
3 Feb, 11:40am
New Zealand recorded its biggest-ever net loss of migrants to Australia in 2011, underlining the appeal of life across the Tasman, where wages are higher, jobs more plentiful and living standards are superior... More »

NZX share and debt trading underlining stronger start to 2012
3 Feb, 10:50am
The volume of trading in shares and bonds on the NZX jumped last month in a sign the local exchange may be heading for a stronger year in 2012 as the local economy picks up pace... More »