Michael Hill first-half profit tumbles 66% on US, Emma & Roe store closures
By Jonathan Underhill Feb. 22 (BusinessDesk) - Michael Hill International posted a 66 percent drop in first-half profit, mainly reflecting A$19.8 million of provisions to reposition its Emma & Roe chain and to recognise costs of exiting the US market. The jewellery chain fi...
NZ dollar gains vs greenback on Fed's 'gradual hikes' view, at 6-month high vs Aussie
By Jonathan Underhill Feb. 22 (BusinessDesk) - The New Zealand dollar rose against the greenback after the Federal Reserve minutes showed policymakers still favour gradual rate hikes. It rose to a six-month high versus the Aussie after weaker economic data across the Tasman....
Fletcher shares hit lowest in more than 5-years as firm reveals soggy outlook behind B+I carnage
By Jonathan Underhill Feb. 21 (BusinessDesk) - Fletcher Building shares touched their lowest levels in more than five years after the company's first-half results, which were clouded by losses at its Building + Interiors unit but also showed soggy demand at its most profitable...
NZ dollar falls against resurgent greenback as dairy prices decline, RBNZ governor to speak
By Jonathan Underhill Feb. 21 (BusinessDesk) - The New Zealand dollar fell against a resurgent greenback, which has climbed on a trade-weighted basis this week, as dairy prices declined for the first time this year and traders looked ahead to Reserve Bank governor Grant Spence...
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