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S&P puts NZ Post on negative credit watch
International ratings agency Standard & Poor's have put New Zealand Post on negative credit watch because of the structural decline in mail volumes and the state-owned enterprise's rising capital spending. S&P currently rates the postal service "A+" for long-term debt and "A-1...
Services
Deepening business gloom likely to push annual GDP below 1%
By Jenny Ruth Oct. 1 (BusinessDesk) - Businesses continued to sink deeper into gloom during the September quarter and that will likely shave annual GDP growth to below 1 percent, according to the New Zealand Institute of Economic Research's latest quarterly survey of business...
Services
NZ Post's parcels business turns a small annual profit as mail keeps group in the red
By Paul McBeth Sept. 27 (BusinessDesk) - New Zealand Post's increasingly important parcels business turned a small annual profit, but that wasn't enough to avoid red ink with its mail service still in decline. The state-owned enterprise (SOE) reported a loss of $121 millio...
Services
Ports of Auckland annual profit drops 30% as it invests in the future
By Jenny Ruth Sept. 27 (BusinessDesk) - Ports of Auckland's annual net profit fell 30 percent and it axed its final dividend but its chief executive says it was "a good result in the circumstances." Those circumstances included disruption and reduced capacity caused by the...
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