BusinessDesk - Latest News [Page 1]

MARKET CLOSE: NZ shares rise; Spark, Meridian gain

Friday, 24 April 2015, 5:38 pm | BusinessDesk

April 24 (BusinessDesk) - New Zealand shares rose, paced by Spark New Zealand and Meridian Energy, as investors sought dividend paying stocks. Xero dropped after it reported its full year loss nearly doubled. More >>

Kiwi heads for 1.7% weekly fall as RBNZ rules out rate hike

Friday, 24 April 2015, 5:29 pm | BusinessDesk

April 24 (BusinessDesk) - The New Zealand dollar is heading for a 1.7 percent decline this week after Reserve Bank assistant governor John McDermott ruled out interest rate hikes ahead of the central bank's official cash rate review next week. More >>

Chinese demand drives lamb wool price rises to 6-week high

Friday, 24 April 2015, 3:33 pm | BusinessDesk

April 24 (BusinessDesk) - New Zealand lamb wool prices rose to a six-week high at auction yesterday on increased demand from China for the apparel fibre. More >>

Spark's market cap slips, as investors weigh competition

Friday, 24 April 2015, 2:33 pm | BusinessDesk

April 24 (BusinessDesk) - Spark New Zealand, formerly Telecom Corp, has slipped from being the country’s largest listed company, as investors mull its transformation away from telecommunications and the risk of increased competition. More >>

Fonterra reshuffles management team

Friday, 24 April 2015, 2:20 pm | BusinessDesk

April 24 (BusinessDesk) - Fonterra Cooperative Group, the world’s largest dairy exporter, has changed two senior management roles in a bid to push its value-add strategy harder in the wake of shareholder criticism over its weak half-year financial ... More >>

Horticultural production tops $7B, led by wine and apples

Friday, 24 April 2015, 12:31 pm | BusinessDesk

April 24 (BusinessDesk) - Horticultural production has topped $7 billion for the first time, with good growth in nearly all the main industries, including wine, apples, potatoes, and onions. More >>

Pan Pacific independent directors reject Zeta offer

Friday, 24 April 2015, 12:03 pm | BusinessDesk

April 24 (BusinessDesk) - Pan Pacific Petroleum's independent directors have urged shareholders to reject a takeover offer from Zeta Resources, saying the proposal under-values the company and doesn't include a sufficient premium for control. More >>

Lubricant deal slips away as Commission nixes merger

Friday, 24 April 2015, 11:28 am | BusinessDesk

April 24 (BusinessDesk) - The Commerce Commission has ruled against a merger that would have seen New Zealand's most popular brands of adult lubricant products merged under a single owner. More >>

LanzaTech has other commercial plants in the pipeline

Friday, 24 April 2015, 11:16 am | BusinessDesk

April 24 (BusinessDesk) - LanzaTech, the New Zealand-founded carbon recycling company, says it has other full-scale commercial plants in the pipeline following this week’s announcement that China Steel Corp will invest US$46 million in a commercial scale ... More >>

Xero annual loss widens as company ramps up investment

Friday, 24 April 2015, 10:47 am | BusinessDesk

April 24 (BusinessDesk) - Xero, the cloud-based accounting software firm, said its annual loss widened even as sales rose, after it increased investment in product development, sales and marketing for future growth. More >>

Mercer's CEO Shepherd, CFO Blathwayt quit the manufacturer

Friday, 24 April 2015, 10:42 am | BusinessDesk

April 24 (BusinessDesk) - Rodger Shepherd, the chief executive of Mercer Group, and Tobin Blathwayt, its chief financial officer, will both leave the stainless steel fabricator and manufacturer after four years with the company. More >>

Abano forecasts FY loss of $1.3M-$1.9M on Aotea sale

Friday, 24 April 2015, 10:32 am | BusinessDesk

Abano forecasts FY loss of $1.3M-$1.9M on sale of Aotea stake, Orthotics More >>

Xero CFO Jeffries leaves after 2 months in the role

Friday, 24 April 2015, 9:04 am | BusinessDesk

April 24 (BusinessDesk) - Xero, the cloud-based accounting software firm, said its US-based chief financial officer Douglas Jeffries is leaving to pursue other opportunities after only two months in the role. More >>

NZ dollar holds at lower levels after RBNZ rules out hikes

Friday, 24 April 2015, 8:36 am | BusinessDesk

April 24 (BusinessDesk) - The New Zealand dollar held at lower levels after its sudden decline yesterday following Reserve Bank assistant governor John McDermott's comments ruling out interest rate rises. More >>

MARKET CLOSE: NZ shares fall, as Trustpower sale weighs

Thursday, 23 April 2015, 5:43 pm | BusinessDesk

April 23 (BusinessDesk) - New Zealand shares fell, paced by power and broadband company Trustpower as a major shareholder reduced its stake. Spark New Zealand, MightyRiverPower and Contact Energy also declined. More >>

Oracle-owned boatbuilder has had two government grants

Thursday, 23 April 2015, 5:32 pm | BusinessDesk

April 23 (BusinessDesk) - Core Builders Composites, the Warkworth-based company owned by Team New Zealand’s arch-rival Oracle Racing, has had two taxpayer subsidies in the past three years. More >>

NZ dollar drops after RBNZ official says rate hike unlikely

Thursday, 23 April 2015, 5:30 pm | BusinessDesk

April 23 (BusinessDesk) - The New Zealand dollar dropped after Reserve Bank assistant governor John McDermott said the bank isn't considering a rate hike, suggesting next week's official cash rate review may be more dovish than expected. More >>

Unlisted, NZX trade snipes over exemption from market rules

Thursday, 23 April 2015, 4:58 pm | BusinessDesk

April 23 (BusinessDesk) - Unlisted, the share trading platform, is rejecting claims by the stock market operator NZX that its request to be exempted from new rules requiring it become a licensed market could undermine confidence in New Zealand's financial ... More >>

NZ Rugby puts out feelers for Japanese corporate sponsor

Thursday, 23 April 2015, 3:49 pm | BusinessDesk

April 23 (BusinessDesk) - New Zealand Rugby, the national sports administrator, is putting out feelers for a Japanese corporate sponsor, betting that the debut of rugby at the Rio Olympics next year and Japan's hosting of the Rugby World Cup in 2019 ... More >>

China Steel Corp green-lights first LanzaTech scale-up

Thursday, 23 April 2015, 3:49 pm | BusinessDesk

April 23 (BusinessDesk) - China Steel Corporation, Taiwan’s largest integrated steelmaker, has given formal approval for a US$46 million investment in a commercial scale ethanol facility developed by New Zealand-founded LanzaTech. More >>



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