BusinessDesk - Latest News [Page 1]

MARKET CLOSE: NZ shares extend gain

Friday, 19 July 2019, 8:46 pm | BusinessDesk

July 19 (BusinessDesk) - New Zealand shares remained in record territory as passive investment funds appeared to support the upward trend in school holiday-affected trading. Tourism Holdings led the market higher when it resumed trading. More >>

NZ dollar headed for 1.3% weekly gain

Friday, 19 July 2019, 8:15 pm | BusinessDesk

NZ dollar headed for 1.3% weekly gain on expectations of a Fed rate cut More >>

RBNZ knock-back gives Resolution chance to low-ball AMP

Friday, 19 July 2019, 7:54 pm | BusinessDesk

July 19 (BusinessDesk) - Resolution Life may be able to wrestle more than a billion dollars from the A$3.3 billion sale price of AMP's life insurance business after a known risk came to fruition when the Reserve Bank of New Zealand didn't play ball, ... More >>

Rail hubs may not boost Napier Port log trade

Friday, 19 July 2019, 7:38 pm | BusinessDesk

July 19 (BusinessDesk) - KiwiRail’s proposed freight hub at Dannevirke may extend Napier Port’s log catchment further south, but is more likely to put existing trucked freight onto rail, port chief executive Todd Dawson says. More >>

O'Connor looks to overhaul Biosecurity Act, improve tracing

Friday, 19 July 2019, 5:05 pm | BusinessDesk

July 19 (BusinessDesk) - The government is looking to tighten control and impose harsher penalties after the Mycoplasma bovis outbreak revealed cracks in the country's stock management system. More >>

Denton Morrell undefended at liquidation hearing

Friday, 19 July 2019, 4:50 pm | BusinessDesk

July 19 (BusinessDesk) - Three lawyers from different firms attended the High Court at Auckland today to see wealth management company Denton Morrell moved into liquidation. More >>

Contact steam to heat Norske Skog pellet business secured

Friday, 19 July 2019, 4:46 pm | BusinessDesk

July 19 (BusinessDesk) - Norske Skog’s wood pellets business has secured a steam supply from Contact Energy for its Taupo plant. More >>

Air NZ to amend booking engine after lawyer’s complaint

Friday, 19 July 2019, 3:40 pm | BusinessDesk

July 19 (BusinessDesk) - Air New Zealand will make changes after a lawyer complained to the Commerce Commission over scarcity pricing tactics. More >>

Ross McEwan to take helm at NAB

Friday, 19 July 2019, 3:25 pm | BusinessDesk

July 19 (BusinessDesk) - New Zealander Ross McEwan has been appointed National Australia Bank’s new chief executive after holding that role at Royal Bank of Scotland since 2013. More >>

KPMG says bank capital proposals will wreck havoc

Friday, 19 July 2019, 2:28 pm | BusinessDesk

July 19 (BusinessDesk) - KPMG says the Reserve Bank’s bank capital proposals will lead to less bank lending to farmers and at significantly higher interest rates on the loans they’re prepared to provide. More >>

Mild weather saps Vector's June-qtr volumes

Friday, 19 July 2019, 2:11 pm | BusinessDesk

July 19 (BusinessDesk) - Mild weather in May and June left Vector’s power and gas volumes for the June year marginally lower than a year earlier. More >>

Dollar gains as dovish Fed comments point to 50-bps US cut

Friday, 19 July 2019, 11:03 am | BusinessDesk

July 19 (BusinessDesk) - The New Zealand dollar rose after dovish comments from New York Federal Reserve President John Williams increased expectations for a steeper rate cut in the US at the end of the month. More >>

RBNZ says no change in approach on AMP purchase

Thursday, 18 July 2019, 9:09 pm | BusinessDesk

July 18 (BusinessDesk) - The Reserve Bank says it hasn’t changed its approach to applications for changes of ownership of life insurance companies and nor has there been any change in New Zealand insurance law or regulations since October 2018. More >>

MARKET CLOSE: NZX50 hits record

Thursday, 18 July 2019, 8:55 pm | BusinessDesk

July 18 (BusinessDesk) - New Zealand shares outperformed Asia as companies offering reliable dividends helped lift the benchmark index to a record. Meridian Energy and Z Energy led the market higher. More >>

NZ dollar mixed after strong Australian employment data

Thursday, 18 July 2019, 8:50 pm | BusinessDesk

July 18 (BusinessDesk) - The New Zealand dollar rose a little against the US dollar but fell slightly against the Aussie after reasonably strong jobs numbers in Australia provided no additional weight to the case for rate cuts there. More >>

Energy efficiency key to lowering cost of renewables push

Thursday, 18 July 2019, 7:18 pm | BusinessDesk

July 18 (BusinessDesk) - A focus on energy efficiency will lower the cost of the country’s drive toward greater renewable energy use and may increase the scale of emission reductions achieved, the Energy Efficiency and Conservation Authority ... More >>

Paper recycling costs rising 35% as export markets collapse

Thursday, 18 July 2019, 6:55 pm | BusinessDesk

July 18 (BusinessDesk) - The price of trying to do the right thing by recycling paper just went up, with Oji Fibre Solutions announcing a 35 percent increase in the cost collecting a binful of used paper to stem the losses it's suffering when it sends ... More >>

First Union leading rivals for biggest average pay claims

Thursday, 18 July 2019, 5:47 pm | BusinessDesk

July 18 (BusinessDesk) - Wage negotiations are becoming tougher, with the First Union leading the pack as it adopts more aggressive tactics to win higher than average wage settlements than competing unions, says Adelhelm & Associates in its 10th ... More >>

Fonterra to go coal-free 11 years ahead of schedule

Thursday, 18 July 2019, 3:20 pm | BusinessDesk

July 18 (BusinessDesk) - Dairy giant Fonterra Co-operative Group said it is shaving 11 years off its coal target, putting an immediate stop to installing any new coal boilers or increasing capacity to burn coal. More >>

Huawei committed to NZ

Thursday, 18 July 2019, 3:09 pm | BusinessDesk

July 18 (BusinessDesk) - Huawei Technologies won’t turn its back on New Zealand, even if it can’t convince the government that it’s not a front for Chinese spies. More >>



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