BusinessDesk - Latest News [Page 1]

MARKET CLOSE: NZ shares gain, led by blue-chip stocks

Wednesday, 23 July 2014, 5:56 pm | BusinessDesk

July 23 (BusinessDesk) - New Zealand shares gained, led by blue-chip stocks such as Sky Network Television, after the latest high-tech initial public offer fizzled with shares of ikeGPS sinking below its sale price. More >>

NZ dollar extends drop vs. A$ after Australian CPI

Wednesday, 23 July 2014, 5:09 pm | BusinessDesk

July 23 (BusinessDesk) - The New Zealand dollar extended its decline against its trans-Tasman counterpart after Australian government figures showed annual inflation accelerated to its fastest pace in four years, and ahead of the Reserve Bank of New ... More >>

English says NZ dollar 'unsustainably high'

Wednesday, 23 July 2014, 3:09 pm | BusinessDesk

July 23 (BusinessDesk) - Finance Minister Bill English said the New Zealand dollar, which hit a record on a trade-weighted basis this year, is "unsustainably high". More >>

UPDATE: IkeGPS shares drop 14% in debut on tech-flooded NZX

Wednesday, 23 July 2014, 2:27 pm | BusinessDesk

July 23 (BusinessDesk) - Shares of IkeGPS Group, which makes portable measuring devices, slid about 14 percent in their debut on the NZX, where investors are spoiled for choice among tech companies. More >>

Griffin's to ramp up exports under new ownership, CEO says

Wednesday, 23 July 2014, 1:53 pm | BusinessDesk

July 23 (BusinessDesk) - Griffin's Foods, the maker of Gingernuts and Eta brand snacks, plans to lift exports to more than 50 percent of sales within five years by leveraging new owner Universal Robina Corp's links in southeast Asia, says incoming chief executive ... More >>

IkeGPS shares first trade at $1, shedding 9.1% vs. IPO price

Wednesday, 23 July 2014, 12:06 pm | BusinessDesk

July 23 (BusinessDesk) - Shares of IkeGPS Group fell 9.1 percent in their NZX debut after the portable measuring devices maker raised $25 million in new capital to build a sales force and develop its products. More >>

Postie Plus brand gets 2nd chance with well-funded Pepkor

Wednesday, 23 July 2014, 11:29 am | BusinessDesk

July 23 (BusinessDesk) - The Postie Plus brand is getting a new lease of life after South Africa's Pepkor bought the failed retailer's assets out of administration and said it will use its purchasing power to reduce costs of stock and fatten margins. More >>

Fonterra to lay off up to 110 staff at Waikato packing plant

Wednesday, 23 July 2014, 11:23 am | BusinessDesk

July 23 (BusinessDesk) - Fonterra Cooperative Group, the world's biggest dairy exporter, may lay off a third of its workers at the Canpac packing facility in Waikato, which it plans to focus on paediatric nutritional products. More >>

NZ dollar drops near six week low vs. Aussie

Wednesday, 23 July 2014, 8:47 am | BusinessDesk

NZ dollar drops near six week low vs. Aussie after RBA's Stevens stays mum on currency More >>

While you were sleeping: Wall Street hits record

Wednesday, 23 July 2014, 7:25 am | BusinessDesk

July 23 (BusinessDesk) - Wall Street rose, pushing the S&P 500 Index to a record high, as investors opted to focus on better-than-expected earnings from companies including Comcast and Chipotle Mexican Grill as well as solid inflation and housing ... More >>

MARKET CLOSE: NZ stocks mixed; A2 gains on China licence

Tuesday, 22 July 2014, 5:45 pm | BusinessDesk

July 22 (BusinessDesk) - New Zealand shares were mixed, with the NZX 50 Index edging higher while more stocks fell. A2 Milk Co rose after securing a licence to export infant formula to China, while other so-called growth companies Pacific Edge and ... More >>

NZ dollar slips before US CPI as OCR review looms

Tuesday, 22 July 2014, 5:11 pm | BusinessDesk

July 22 (BusinessDesk) - The New Zealand dollar fell before the release of US consumer prices for June, amid speculation inflation in the world's biggest economy may have accelerated enough to bring forward the timing of interest rate hikes. More >>

RBNZ sees review of bank, non-bank regs complete by Sept 15

Tuesday, 22 July 2014, 5:01 pm | BusinessDesk

July 22 (BusinessDesk) - The Reserve Bank says it will complete a stock-take of regulations covering banks and non-bank deposit takers by September next year to ensure they're as streamlined as possible given the layers of complexity added with the Basel III ... More >>

Oceania Living mulls listing in midst of rest home boom

Tuesday, 22 July 2014, 1:36 pm | BusinessDesk

July 22 (BusinessDesk) - Oceania Living, the retirement village operator owned by funds associated with Macquarie Group, is mulling a public listing, raising funds in a sector that's in the midst of a building boom aimed at capitalising on an aging ... More >>

Electricity Authority seeks protection for small retailers

Tuesday, 22 July 2014, 12:20 pm | BusinessDesk

July 22 (BusinessDesk) - Power companies face new restrictions on the widespread practice of "saving" and "winning back" customers who've decided to switch to another retailer for a more competitive offer, under new rules the Electricity ... More >>

UPDATE: A2 Milk shares rise from 15-mth low on China licence

Tuesday, 22 July 2014, 10:34 am | BusinessDesk

UPDATE: A2 Milk shares bounce from 15-month low on Chinese licence; Synlait still waiting More >>

Regulator's draft view trims returns for network monopolies

Tuesday, 22 July 2014, 10:29 am | BusinessDesk

Regulator's draft view on monopoly networks would be $33M a year win for consumers More >>

A2 Milk secures Chinese licence, Synlait still waiting

Tuesday, 22 July 2014, 10:00 am | BusinessDesk

July 22 (BusinessDesk) - A2 Milk Co, which markets milk with a protein variant said to have health benefits, has won Chinese regulatory approval to export its a2 Platinum infant formula and says its milk processor Synlait Milk continues to wait for registration. More >>

Moa boosts first quarter sales, expects higher margins

Tuesday, 22 July 2014, 9:44 am | BusinessDesk

July 22 (BusinessDesk) - Moa Group, the unprofitable boutique beer maker, increased first quarter sales volumes 95 percent after moving to a more direct distribution structure in New Zealand, its largest market. More >>

Chorus services 'cynical attempt' to dodge rules: CallPlus

Tuesday, 22 July 2014, 9:15 am | BusinessDesk

July 22 (BusinessDesk) - The Commerce Commission will investigate a claim Chorus's plans to deliver broadband services outside the current terms of regulation are still captured by the legislation and breach the Telecommunications Act. More >>



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