Brierley's Mercantile first-half profit falls 34% on loan impairment, stock payments, tax
By Paul McBeth March 1 (BusinessDesk) - Mercantile Investments, the latest investment vehicle of veteran corporate raider Ron Brierley, posted a 34 percent drop in first-half profit as share payments, loan impairments and tax ate into dividend returns and an uplift in its stoc...
ComCom questions new dairy conversions' automatic right to supply Fonterra in final industry report
By Paul McBeth March 1 (BusinessDesk) - The Commerce Commission questions whether new dairy conversions should retain automatic rights to supply Fonterra Cooperative Group in its largely unchanged final report on competition in the sector, which recommends a staggered path to...
NZ dollar falls as building consents, business confidence disappoint
By Paul McBeth Feb. 29 (BusinessDesk) - The New Zealand dollar fell as data painted a grimmer picture of local growth and economists at the country's biggest lender joined rivals in predicting the Reserve Bank will cut interest rates even further this year. The kiwi droppe...
Mercer first-half loss widens; plans to split remaining businesses
By Paul McBeth Feb. 29 (BusinessDesk) - Mercer Group, the stainless steel fabricator and manufacturer, reported a wider first-half loss as it restructured the business and sold unprofitable units, and plans to split up its remaining two divisions. The Auckland-based compan...
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