Freightways may call in lawyers over NZ Post discounting
By Rebecca Howard | Tue, 25 Feb 2020
Freightways may call in the lawyers as it lobbies for an end to state-owned New Zealand Post’s discounted zonal pricing, which it says is eating into earnings at its rival DX Mail division.
NZME pours resources into Stuff pursuit
By Paul McBeth | Tue, 25 Feb 2020
NZME ratcheted up spending in calendar 2019 on its pursuit of ailing rival Stuff, and said it’s actively engaged with the government about taking on a Kiwi Share obligation.
Serko cites coronavirus crisis in revenue guidance downgrade
By Jenny Ruth | Tue, 25 Feb 2020
Online travel booking company Serko is the latest to advise the market its business is being hurt by the coronavirus crisis.
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MARKET CLOSE: NZ shares fall as the risk of global pandemic rises
By Dan Brunskill | Tue, 25 Feb 2020
New Zealand shares joined a global rout after the spread of coronavirus cases outside China caused stocks across Europe and the US to plunge as investors sought to avoid the risk of a global pandemic....
NZ dollar takes a breather, likely to fall further
By Jenny Ruth | Tue, 25 Feb 2020
The New Zealand dollar firmed, with traders expecting the currency's slide to resume as more news emerges on the spread of coronavirus beyond China. The kiwi was trading at 63.47 US cents at 5pm in...
Serko cites coronavirus crisis in revenue guidance downgrade
By Jenny Ruth | Tue, 25 Feb 2020
Online travel booking company Serko is the latest to advise the market its business is being hurt by the coronavirus crisis.Serko said in a statement that it has seen a drop-off in bookings over the p...
Defendants plead not guilty in National Party donors case
By Victoria Young | Tue, 25 Feb 2020
Four men have pleaded not guilty to charges laid by the Serious Fraud Office over donations made to the National Party. The accused - Yikun Zhang, Shijia (Colin) Zheng, Hengjia (Joe) Zheng and Jam...
NZX50 slumps 3.2% in aggressive sell-off
By Dan Brunskill | Tue, 25 Feb 2020
Kiwi investors reacted to the sharp drop on Wall Street overnight with their own aggressive sell-off, pushing the S&P/NZX50 down more than 3 percent in early trading.The benchmark index sank 377.7...
NZME pours resources into Stuff pursuit
By Paul McBeth | Tue, 25 Feb 2020
NZME ratcheted up spending in calendar 2019 on its pursuit of ailing rival Stuff, and said it’s actively engaged with the government about taking on a Kiwi Share obligation.The media company was previ...
Vector maintenance costs offset revenue gains, profit down
By Victoria Young | Tue, 25 Feb 2020
Auckland energy and telecommunications infrastructure provider Vector reported a 3.4 percent fall in first-half profit to $80.5 million and is capping its dividend payments. The result for the si...
Summerset sees no underlying earnings growth in 2020
By Rebecca Howard | Tue, 25 Feb 2020
Summerset reported an 8 percent lift in its underlying profit in calendar 2019 but isn’t expecting any growth this year - for the first time since listing - because it is paying its workers more and d...
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