BusinessDesk - Latest News [Page 1]

While you were sleeping: ECB extends asset purchases

Friday, 9 December 2016, 7:54 am | BusinessDesk

Dec. 9 (BusinessDesk) - Wall Street climbed to fresh records as optimism about the outlook for the US economy prevailed, while European Central Bank President Mario Draghi announced an extension of the central bank’s quantitative easing program. More >>

UDC posts record profit despite interest margin fall

Thursday, 8 December 2016, 5:38 pm | BusinessDesk

Dec. 8 (BusinessDesk) - ANZ Bank New Zealand's UDC finance unit has posted a record annual profit, driven by booming car sales and strong growth in forestry, transport and construction. More >>

Spending wins over tax cuts; big ticket items get boost

Thursday, 8 December 2016, 4:55 pm | BusinessDesk

Dec. 8 (BusinessDesk) - Income tax cuts are on hold as the government says “responding to the earthquakes and reducing debt are currently of higher priority”, although election year tax sweeteners remain possible. More >>

NZ government to spend more as economy accelerates

Thursday, 8 December 2016, 4:52 pm | BusinessDesk

Dec. 8 (BusinessDesk) - The New Zealand government has earmarked an extra $2.1 billion for capital spending in its election-year budget as it benefits from a stronger forecast track of economic growth in the next few years that will swell its tax take. More >>

English cites 'strong support', won't name preferred deputy

Thursday, 8 December 2016, 4:49 pm | BusinessDesk

Dec. 8 (BusinessDesk) - Finance Minister Bill English says he is "finding strong support in the caucus” for his bid to replace John Key as Prime Minister next Monday after Key unexpectedly announced his resignation and departure from politics on Monday. More >>

Fonterra total payout this year likely to be $6.40/kgMS

Thursday, 8 December 2016, 4:13 pm | BusinessDesk

Dec. 8 (BusinessDesk) - Fonterra Cooperative Group has told shareholders at its annual meeting in Darfield today that the indicative payout level to its 10,500 farmer suppliers this season will be $6.40 per kilogram of milk solids. More >>

Fairfax Media confirms approach by potential buyer

Thursday, 8 December 2016, 3:40 pm | BusinessDesk

Dec. 8 (BusinessDesk) - Fairfax Media, which plans to merge its New Zealand media business with rival NZME, confirmed speculation it had been approached by a third party about the acquisition of its New Zealand unit, but said it's not in talks with ... More >>

Review notes 'continued low level' of reporting by NZ firms

Thursday, 8 December 2016, 3:05 pm | BusinessDesk

Dec. 8 (BusinessDesk) - The Financial Markets Authority says it is "particularly concerned" about continued low levels of reporting by New Zealand financial services firms of suspicious transaction reports under requirements of the Anti-Money Laundering ... More >>

Blue Sky Meats urges shareholders to wait for more info

Thursday, 8 December 2016, 1:29 pm | BusinessDesk

Dec. 8 (BusinessDesk) - Blue Sky Meats has recommended shareholders wait for more information from the board on the future prospects of the meat processor before deciding on a takeover offer from China-based Heilongjiang Binxi Cattle Industry Co, which ... More >>

RBNZ's Wheeler sees 'continued strong economic growth'

Thursday, 8 December 2016, 12:40 pm | BusinessDesk

Dec. 8 (BusinessDesk) - Reserve Bank governor Graeme Wheeler says the prospects are good for "continued strong growth" in the New Zealand economy in the next 18 months, with monetary policy accommodative enough to ensure inflation picks up ... More >>

NZ dollar gains ahead of Wheeler speech

Thursday, 8 December 2016, 12:01 pm | BusinessDesk

Dec. 8 (BusinessDesk) - The New Zealand dollar rose ahead of a speech by Reserve Bank Governor Graeme Wheeler and before the government's fiscal and economic update, which may paint a more upbeat picture of the outlook. More >>

Reserve Bank's Wheeler says immigration forecasts were wrong

Thursday, 8 December 2016, 8:32 am | BusinessDesk

Dec. 7 (BusinessDesk) - Reserve Bank Governor Graeme Wheeler said he accepts the central bank got its migration forecasts wrong but it was hard to know how much inward migration New Zealand would attract under current policies. More >>

Construction boom to drive growth in NZ jobs

Thursday, 8 December 2016, 8:29 am | BusinessDesk

Dec. 7 (BusinessDesk) - New Zealand's construction boom is expected to be the single biggest driver of employment growth over the next three years, generating about 29 percent of a forecast 183,900 jobs to be created by March 2019, government figures ... More >>

Chow Group reports $114k first-half profit

Thursday, 8 December 2016, 8:27 am | BusinessDesk

Dec. 7 (BusinessDesk) - Chow Group, the NZAX-listed vehicle controlled by property developers John and Michael Chow, has reported a net profit of $114,029 in the six months to the end of September. More >>

Fairfax boss warns of 'end game' if merger disallowed

Thursday, 8 December 2016, 8:26 am | BusinessDesk

Dec. 7 (BusinessDesk) - The chief executive of Australasian news publisher Fairfax Media, Greg Hywood, warned Commerce Commission hearings on the proposed merger between NZME and Fairfax's New Zealand assets that it would "become endgame" if the merger ... More >>

NZ dollar gains vs Aussie as Australian economy shrinks

Thursday, 8 December 2016, 8:24 am | BusinessDesk

Dec. 7 (BusinessDesk) - The New Zealand dollar rose against its trans-tasman counterpart after figures showed the Australian economy shrank 0.5 percent last quarter, the first time it has contracted since 2011. More >>

Funds required for NZ migrant investor visa to double

Thursday, 8 December 2016, 8:23 am | BusinessDesk

Dec. 7 (BusinessDesk) - Wealthy overseas business owners and investors will have to invest at least $3 million in New Zealand from May next year under changes announced by Immigration Minister Michael Woodhouse. More >>

MARKET CLOSE: NZ shares drop, led by Orion Health

Thursday, 8 December 2016, 8:22 am | BusinessDesk

Dec. 7 (BusinessDesk) - New Zealand shares declined as Orion Health Group extended its slide following its first-half results, while Tower rose. More >>

While you were sleeping: Fresh records on Wall St

Thursday, 8 December 2016, 7:42 am | BusinessDesk

Dec. 8 (BusinessDesk) - Wall Street rose, pushing both the Dow and the S&P 500 to record highs, as optimism about the outlook for the US economy and corporate profits gained traction. More >>

Wheeler not keen on bank deposit insurance

Wednesday, 7 December 2016, 5:18 pm | BusinessDesk

Dec. 7 (BusinessDesk) - The Reserve Bank is unlikely to introduce state-backed insurance on bank deposits, saying the moral hazard is too high and it prefers the option of protecting those with small balances through guaranteed repayments. More >>



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