The week in numbers to March 6

The big and small numbers that grabbed attention - or should have - in the business world over the past week. Monday: 10.8 per cent - Myer's chief executive Bernie Brookes and chief financial officer Mark ...

  • UPDATE: Transport and logistics provider Fliway offering … BusinessDesk - 32 minutes ago

    Fliway Group, the transport and logistics provider behind the first float on the NZX this year, is hoping to raise between $27.3 million to $44.5 million with shares valued in the range of $1.20 to $1.40 per share. Duncan Hawkesby, the son of former broadcaster John Hawkesby, and his wife Gretchen, who is the daughter of New Zealand's richest man, Graeme Hart, bought the company off its founder in 2006. The pair will retain between 30 to 50 percent of the company following the IPO.

  • Habanos hopes for 25-30% US market share AAP - 58 minutes ago

    Cuban corporation Habanos SA aspires to achieve a 25-30 per cent share of the US cigar market in the first few years after the trade embargo on the island is lifted, a move that will enable Cuban cigars to be exported to the United States freely and legally, company officials say. "Some will think that it's a rather conservative figure, but that would make us into the market leaders," said Habanos SA vice president for marketing Jorge Luis Fernandez Maique at a press conference at the inauguration of the 17th International Cigar Festival in the Cuban capital recently. He said that achieving a 25-30 per cent market share in the US would mean annual sales of between 70-90 million Habanos cigars.

  • NZ wool market mixed amid targeted buying BusinessDesk - 1 hour 0 minutes ago

    New Zealand crossbred wool, which accounts for the majority of the country's production, rose to a three-and-a-half month high this week on lower volumes. The wool type only sold in the South Island this week, with the lower supply bolstering the price as other strong wool types declined in auctions across both islands. Some 21,228 bales were offered for sale at the combined auctions across the North and South islands, the second-largest volume this year, as New Zealand comes out of its main shearing season from December to early February, which accounts for about 60 percent of the annual crossbred wool clip. "There was relatively strong competition at the auctions, and some targeted buying which caused a bit of variation between wool types and between islands," said AgriHQ agriculture analyst Ivan Luketina.

  • ABC boss warns against local quotas AAP - 1 hour 18 minutes ago
    ABC boss warns against local quotas

    ABC boss Mark Scott says plans to make the broadcaster produce more local content would force cuts elsewhere. Independent Senator Nick Xenophon has proposed an amendment to the ABC charter which would enforce local content production quotas across the country. The ABC has axed a number of local programs and will cut 400 staff after the government reduced its budget by $254 million over the next five years. Mr Scott says there is a need to produce more programs externally because the broadcaster can't access funding grants for in-house productions.

  • Kiwi start-up Glassjar launches payments app in the … BusinessDesk - 1 hour 31 minutes ago

    Glassjar, the kiwi software start-up whose app provides people an easy way of sharing bills, has launched in the United States.

  • Q&A on Samsung's new mobile pay AAP - 1 hour 57 minutes ago

    Last northern autumn, Apple launched Apple Pay, bringing mobile-payment technology to the iPhone. Samsung now wants to get that on Android phones - at least the ones it makes. Samsung's payment service won't come until this northern summer, and will launch only in the US and South Korea at first. Here's what's known about Samsung Pay and how it compares with Apple Pay and Google's own efforts for Android.

  • $A below 78 US cents as greenback rises AAP - 2 hours 22 minutes ago

    The Australian dollar is below 78 US cents after the European Central Bank's economic stimulus measures boosted the greenback. At 1200 AEDT on Friday, the local currency was trading at 77.84 US cents, down from 78.16 cents on Thursday. The ECB's confirmation that it would begin buying eurozone government bonds from Monday, as part of a one trillion euro stimulus package, strengthened the US dollar, Commonwealth Bank currency strategist Joseph Capurso said.

  • Shares fall as iron ore price tumbles AAP - 2 hours 32 minutes ago

    Another fall in the price of Australia's largest export is pulling the share market lower. The price of iron ore in China has dropped below $US60 a tonne, which has delivered a blow to shares in in local miners, CommSec market analyst Tom Piotrowski said. The weaker price only compounds a downward revision of China's economic growth forecasts earlier this week, Mr Piotrowski said. "They're aiming to address pollution levels (in China) as well, so they're shutting down some mills that aren't terribly efficient," he said.

  • Stocks to watch at noon on Friday AAP - 2 hours 47 minutes ago

    Stocks to watch on the Australian stock exchange at noon on Friday: AGO - ATLAS IRON - down 1.5 cents, or 8.6 per cent, at 16 cents ARI - ARRIUM - down 0.5 cents, or 2.4 per cent, at 20 cents BCI - BC ...

  • Fliway Group seeks up to $44.5 million in first IPO … BusinessDesk - 2 hours 56 minutes ago

    Fliway Group, the independent transport and logistics provider, is seeking to raise between $27.3million and $44.5 million through the first initial public offering on the NZX this year. The 18-year-old company is owned by Duncan Hawkesby, the son of former broadcaster John Hawkesby, and his wife Gretchen, who is the daughter of New Zealand's richest man, Graeme Hart. The pair will retain between 30 to 50 percent of the company following the IPO.

  • Old economy sectors are now tech, too AAP - 2 hours 57 minutes ago

    New technologies ranging from cloud computing to data analytics are transforming virtually all industries, including old economy sectors like manufacturing, the report by the National Academy of Engineering says. Manufacturing can no longer be considered separate from the system of technological innovation used in new economy sectors, said the report by the NAE, part of the National Academy of Sciences, a research organisation created by Congress.

  • Warehouse boosts online sales Newstalk ZB - 3 hours ago

    The Warehouse Group's profit is down - but online sales are up.

  • New Zealand keeps top credit rating Newstalk ZB - 3 hours ago

    International credit rating agency Moody's has reaffirmed New Zealand's AAA credit rating, with a stable outlook.

  • Rules tweaked to fix staff shortages Newstalk ZB - 3 hours ago

    Immigration rules are being tweaked to deal with staff and skill shortages in Queenstown.

  • Shares flat as banks up, materials down AAP - 3 hours ago

    The share market has opened flat as strength in high-yield bank stocks is balanced out by weak energy and mining sectors. IG market strategist Evan Lucas says the market is repositioning itself into high-yield stocks in expectation of an upcoming rate cut from the Reserve Bank, with the big banks enjoying a rise. Commonwealth Bank was up 31 cents to $91.43, Westpac had gained 11 cents to $37.94, ANZ was 7 cents higher at $35.57, while National Bank was down seven cents to $38.03. On Tuesday, the Reserve Bank left the official interest rate at 2.25 per cent, but observers believe the RBA has a couple more cuts in mind for 2015.

New Zealand Markets

Company Finances