Mercury to buy back up to $50M of shares, citing excess balance sheet capacity
By Tina Morrison May 2 (BusinessDesk) - Electricity generator and retailer Mercury NZ will spend as much as $50 million buying back some of its shares, enabling it to return capital to shareholders and rebalance its capital structure. Mercury will buy up to 20 million ordin...
SkyCity sees further delays to convention centre, says contract will mitigate losses
By Tina Morrison May 1 (BusinessDesk) - SkyCity Entertainment Group said its $703 million New Zealand International Convention Centre and Hobson Street hotel project under construction by beleaguered Fletcher Building will be delayed a further six months. The projects are n...
NZ posts first trade deficit for March month in 10 years as fuel imports surge
By Tina Morrison April 27 (BusinessDesk) - New Zealand posted its first trade deficit for a March month in a decade as a jump in fuel imports outweighed higher exports of butter and logs. Goods imports rose 14 percent to $4.94 billion in March compared with the same month a...
NZ log export market picks up after slowdown ahead of Chinese New Year, traders optimistic
By Tina Morrison April 27 (BusinessDesk) - New Zealand's export log market has picked up following a slowdown ahead of the Chinese New Year period and traders are optimistic about the outlook for the year ahead, according to the latest AgriHQ forestry market report. The cou...
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