Services
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Finance
Auditors need to come out of the shadows and explain the value they add: FMA
By Paul McBeth May 21 (BusinessDesk) - Financial Markets Authority chief executive Rob Everett wants the audit profession to explain how it adds value to investors, who are largely sceptical of their benefit. The market watchdog commissioned Buzz Channel to survey retail a...
Infrastructure
UPDATE: Steel & Tube shares drop 8.9% on earnings downgrade
(Updates and recasts on share price, adds broker comment) By Paul McBeth May 20 (BusinessDesk) - Steel & Tube Holdings shares dropped 8.9 percent after the steel products maker cut its earnings outlook. The shares fell 11 cents to $1.12 in early trading after the company...
Economy
Weak services sector growth raises concerns about NZ economic slowdown
By Rebecca Howard May 20 (BusinessDesk) - New Zealand’s services sector activity slipped further in April, touching the lowest level in more than six years and adding to concerns about an economic slowdown. The BNZ-BusinessNZ performance of services index fell 0.5 of a poi...
Infrastructure
Steel & Tube cuts earnings outlook on margin squeeze, inventory restatement
By Paul McBeth May 20 (BusinessDesk) - Steel & Tube Holdings has cut its earnings outlook as margins remain under pressure, and after restating its year-earlier accounts gave it a lower starting point. The steel products maker expects earnings before interest and tax of $1...
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