BusinessDesk - Latest News [Page 1]

Steel & Tube shares recover from 15-year low

Friday, 22 July 2016, 4:41 pm | BusinessDesk

July 22 (BusinessDesk) - Steel & Tube Holding's share price has recovered from a fifteen-year low after a flow of bad news ceased. More >>

China Construction provides $140M cash infusion for NZ unit

Friday, 22 July 2016, 4:27 pm | BusinessDesk

July 22 (BusinessDesk) - China Construction Bank, that nation's second-largest lender, has provided $140 million of equity capital to its New Zealand subsidiary to help fund lending growth, the biggest such infusion since the local unit was established ... More >>

Restaurant Brands to kickoff home delivery of KFC

Friday, 22 July 2016, 4:15 pm | BusinessDesk

July 22 (BusinessDesk) - Restaurant Brands New Zealand hopes to introduce home delivery for its KFC brand before the end of the year. More >>

Grant Samuel rolled out again to back Silver Fern Farms deal

Friday, 22 July 2016, 4:14 pm | BusinessDesk

July 22 (BusinessDesk) - Silver Fern Farms has got Grant Samuel to back its proposal to sell half its meat processing assets to China's Shanghai Maling Aquarius ahead of a second shareholder vote, which the board will ignore if support for the deal ... More >>

Stephen Copulos becomes 2nd largest shareholder in ARB

Friday, 22 July 2016, 2:58 pm | BusinessDesk

July 22 (BusinessDesk) - Australian businessman Stephen Copulos said getting shares in listed Restaurant Brands, in which he is now the second largest shareholder, was a key part of the fast food brands company acquiring his family’s KFC franchise ... More >>

Godfrey Hirst granted leave for narrow appeal

Friday, 22 July 2016, 2:11 pm | BusinessDesk

July 22 (BusinessDesk) - Australian-owned carpet maker Godfrey Hirst has been given a small window to appeal a High Court ruling as it continues efforts to stop New Zealand's largest wool scouring operations from merging. More >>

Dip in June milk collection not as big as previously thought

Friday, 22 July 2016, 10:56 am | BusinessDesk

July 22 (BusinessDesk) - Fonterra Cooperative Group says the decline in milk collection last month wasn't as big as previously thought because the extra day of a leap year mucked up its modelling. More >>

NZ staff turnover rising as balance tips

Friday, 22 July 2016, 10:53 am | BusinessDesk

July 22 (BusinessDesk) - Staff turnover is rising with more workers in New Zealand willing to risk taking on a new job in the current economic climate. More >>

NZ dollar little changed after RBNZ signals rate cuts

Friday, 22 July 2016, 8:46 am | BusinessDesk

July 22 (BusinessDesk) - The New Zealand dollar was little changed below 70 US cents after the Reserve Bank signalled rate cuts were needed to drag down a strong currency which has restricted imported inflation in the economy. More >>

While you were sleeping: Intel, Southwest slide

Friday, 22 July 2016, 7:44 am | BusinessDesk

July 22 (BusinessDesk) - Wall Street fell, weighed down by shares of Intel and Southwest Airlines following disappointing earnings. More >>

MARKET CLOSE: NZ shares gain, Steel & Tube and Xero advance

Thursday, 21 July 2016, 6:43 pm | BusinessDesk

July 21 (BusinessDesk) - New Zealand shares gained as investors were buoyed by potential interest rate cuts, with Steel & Tube Holdings, Xero and Westpac Banking Corp gaining, while New Zealand Refining Co fell. More >>

NZ dollar drops below 70 US cents after RBNZ flags rate cuts

Thursday, 21 July 2016, 5:29 pm | BusinessDesk

July 21 (BusinessDesk) - The New Zealand dollar fell dropped below 70 US cents and weakened against most all the major currencies following a Reserve Bank update that signalled further interest rate cuts are looming. More >>

Justice Toogood, Meat Industry Assn to grace Affco appeal

Thursday, 21 July 2016, 5:14 pm | BusinessDesk

July 21 (BusinessDesk) - Justice Kit Toogood and the Meat Industry Association survived challenges from the New Zealand Meat Workers Union to grace Affco Holdings' Court of Appeal hearing today, where it sought to reclaim the notion that seasonal workers ... More >>

All five leading retail banks require 40% property deposit

Thursday, 21 July 2016, 5:04 pm | BusinessDesk

July 21 (BusinessDesk) - All five of the country's leading retail banks have acted early to introduce restrictions on lending to property investors as part of the Reserve Bank's bid to slow the heated housing market. More >>

Fairfax exploits Canterbury market share, Chch Star says

Thursday, 21 July 2016, 4:25 pm | BusinessDesk

July 21 (BusinessDesk) - Star Media, the Christchurch-based publisher of giveaway local newspapers, says Fairfax Media uses its community paper for predatory advertising pricing and shuts The Star out of advertising deals. More >>

Serco keeps million dollar interpreter contract

Thursday, 21 July 2016, 3:42 pm | BusinessDesk

July 21 (BusinessDesk) - Serco Australia's citizen services division has kept its $1 million contract to provide interpretation services for a growing number of non-English speaking New Zealanders. More >>

Auckland Council raising $200 mln in bond offer

Thursday, 21 July 2016, 1:48 pm | BusinessDesk

July 21 (BusinessDesk) - Auckland Council will raise up to $200 million through a 10-year retail bond issue, at a higher indicative margin than its last offer in March. More >>

Livestock Improvement Corp sinks into the red

Thursday, 21 July 2016, 12:24 pm | BusinessDesk

July 21 (BusinessDesk) - Livestock Improvement Corp, the farmer-owned dairy herd genetics, farm software and automation cooperative, dipped into the red in 2016 as farmers scaled back spending because of the dairy downturn, which weighed on the ... More >>

NZ migration, tourism boom continues in June

Thursday, 21 July 2016, 11:55 am | BusinessDesk

July 21 (BusinessDesk) - New Zealand's booming migration extended its run of posting new records in June, though economists say it may have peaked, while tourism numbers also continued their strong growth. More >>

Three major bank lenders introduce lending restrictions

Thursday, 21 July 2016, 11:54 am | BusinessDesk

July 21 (BusinessDesk) - ASB Bank and ANZ Bank New Zealand have followed Westpac Banking Corp's lead in clamping down on lending to property investors by requiring at least a 40 percent deposit ahead of Reserve Bank restrictions. More >>



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