MARKET CLOSE: NZ shares join global sell-off on Trump's trade tweets; Freightways caution weighs
By Paul McBeth Aug. 26 (BusinessDesk) - New Zealand shares joined a worldwide sell-off as US President Donald Trump spooked investors by ratcheting his trade war with China. That weighed on the local reporting season, which saw Freightways punished for its cautious outlook. ...
Chorus CEO McKenzie to leave this year as operating earnings decline as expected
By Paul McBeth Aug. 26 (BusinessDesk) - Chorus chief executive Kate McKenzie will leave the telecommunications lines company at the end of 2019, having overseen the completion of the ultrafast broadband fibre network's first tranche. The announcement comes as the network o...
MARKET CLOSE: NZ shares fall as rate outlook weighs on yield stocks; Skellerup drops
By Paul McBeth Aug. 23 (BusinessDesk) - New Zealand shares fell as diminishing expectations for interest rates to go lower sapped the appeal of companies held for their dividends such as Meridian Energy and Chorus. Skellerup led the index lower after reporting a record profit....
Vector profit slides 44% on struggling HRV writedown
By Paul McBeth Aug. 23 (BusinessDesk) - Vector reported a 44 percent slide in annual profit as the lines company wrote down the value of its HRV home ventilation unit, which has failed to fire since it was bought in 2017. Operating earnings were in line with expectations an...
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