BusinessDesk - Latest News [Page 1]

MARKET CLOSE: NZ shares edge up as budget, earnings dominate

Thursday, 25 May 2017, 8:46 pm | BusinessDesk

May 25 (BusinessDesk) - New Zealand shares edged higher on relatively small volumes as investors were preoccupied with the government's budget and a slew of earnings, including Metro Performance Glass, which reported a boost in sales on its Australian ... More >>

NZ dollar holds up as Joyce's budget meets expectations

Thursday, 25 May 2017, 8:11 pm | BusinessDesk

May 25 (BusinessDesk) - The New Zealand dollar held above 70 US cents as Finance Minister Steven Joyce's maiden budget met investors' expectations in affirming a strong economic outlook, allowing tax adjustments and a hike in infrastructure spending. More >>

BUDGET 2017: Crown land for house-build to cost $100M

Thursday, 25 May 2017, 5:24 pm | BusinessDesk

May 25 (BusinessDesk) - The government set aside $100 million to free up unused Crown land to help cater to its house-building programme announced before today’s budget. More >>

Mental health centre of govt’s social investment package

Thursday, 25 May 2017, 5:21 pm | BusinessDesk

May 25 (BusinessDesk) - The government has put mental health at the centre of its $321 million social investment programme, which it touts as spending large up front to reduce the long-term costs of problems ailing society. More >>

BUDGET 2017: Govt ups spending on science and innovation

Thursday, 25 May 2017, 5:20 pm | BusinessDesk

May 25 (BusinessDesk) - (BusinessDesk) – Finance Minister Steven Joyce announced a $373 million increase in spending for science and innovation in a bid to help diversify the economy support more jobs and higher wages. More >>

BUDGET 2017: Rail gets better part of $1 billion

Thursday, 25 May 2017, 5:19 pm | BusinessDesk

May 25 (BusinessDesk) - New Zealand’s rail infrastructure will get the better part of $1 billion from the government with money set aside to upgrade KiwiRail’s rolling stock and infrastructure, and Wellington and Auckland’s rail networks. More >>

Govt targets $100M/year from closing offshore tax loopholes

Thursday, 25 May 2017, 5:18 pm | BusinessDesk

May 25 (BusinessDesk) - The government expects to raise at least $250 million over the next three years from closing foreign tax loopholes exploited by both multi-national corporations and New Zealand companies with offshore activities. More >>

Tax and benefits package targets low/middle income families

Thursday, 25 May 2017, 5:17 pm | BusinessDesk

May 25 (BusinessDesk) - The Budget’s $2 billion a year package of tax and accommodation benefit changes is skewed deliberately towards the lowest income families and areas where rents are highest in an election year pitch by the government to be seen to ... More >>

Transport drives $32.5 billion infrastructure spend

Thursday, 25 May 2017, 5:16 pm | BusinessDesk

May 25 (BusinessDesk) - New roads and rail upgrades will suck up about a third of the government’s $32.5 billion infrastructure spending over the next four years, draining the coffers for the foreseeable future. More >>

NZDMO lifts debt issuance by $1 billion over forecast period

Thursday, 25 May 2017, 5:14 pm | BusinessDesk

(BusinessDesk) – The New Zealand Debt Management office lifted its issuance programme by $1 billion through June 2021 compared to prior forecasts in its half year economic and fiscal update and said it plans to launch a new April 20, 2029 bond before the ... More >>

BUDGET 2017: NZ economic growth seen peaking at 3.8% in 2019

Thursday, 25 May 2017, 5:11 pm | BusinessDesk

May 25 (BusinessDesk) - (BusinessDesk) – New Zealand’s economic growth is tipped to peak in 2019, boosted by ongoing population growth, investment, and a new family incomes package announced in Finance Minister Steven Joyce’s maiden budget. Growth, ... More >>

Govt forecast surpluses narrow on family package

Thursday, 25 May 2017, 5:07 pm | BusinessDesk

May 25 (BusinessDesk) - (BusinessDesk) – The government now expects a wider surplus in the year to June than it previously forecast but then tipped narrower surpluses over the forecast period in its latest budget as a new family incomes package and ... More >>

Budget spends down future surpluses

Thursday, 25 May 2017, 5:06 pm | BusinessDesk

May 25 (BusinessDesk) - Tax cuts for every working New Zealander, targeted to low and middle income earners, more generous assistance for families and renters, and a massive spend-up on public services infrastructure mark Finance Minister Steven ... More >>

Chorus increases bank facility, pushes out maturity date

Thursday, 25 May 2017, 3:20 pm | BusinessDesk

May 25 (BusinessDesk) - Chorus, the telecommunications network operator, has increased its bank facility and pushed out the maturity date, giving it additional financial flexibility and funding certainty. More >>

SeaDragon confirms full-year loss will widen

Thursday, 25 May 2017, 2:52 pm | BusinessDesk

May 25 (BusinessDesk) - SeaDragon, which manufactures fish oils for health supplements, confirmed its 2017 annual loss would widen, in line with its previous guidance. More >>

Sanford lifts first-half profit 25%

Thursday, 25 May 2017, 1:06 pm | BusinessDesk

Sanford lifts first-half profit 25% as higher value product offsets lower prices for frozen fish More >>

Gentrack lifts first-half profit 46%

Thursday, 25 May 2017, 12:57 pm | BusinessDesk

May 25 (BusinessDesk) - Gentrack Group, the utilities software developer which has been on a buying spree, lifted first-half profit 46 percent as new utilities contracts spurred an increase in sales, offsetting a more muted period for its airports software ... More >>

Argosy lifts distributable earnings

Thursday, 25 May 2017, 12:32 pm | BusinessDesk

May 25 (BusinessDesk) -- Argosy Property lifted distributable earnings 4.6 percent as it continued to lift the quality of its portfolio through the divestment of lower quality, non-core assets and after benefiting from the surrender of a lease agreement. More >>

Metroglass profit dips on Aussie expansion costs

Thursday, 25 May 2017, 12:17 pm | BusinessDesk

May 25 (BusinessDesk) - Metro Performance Glass delivered a $19.4 million net profit for the year to March 31, down from $21.3 million a year earlier, as it absorbed the costs of a major acquisition in the Australian market and the impact of declining ... More >>

NZ dollar climbs back above 70 US cts

Thursday, 25 May 2017, 11:30 am | BusinessDesk

May 25 (BusinessDesk) - The New Zealand dollar rose back above 70 US cents as investors were disappointed by caveats in the minutes to this month's Federal Reserve policy meeting as they raised uncertainty over the timing of US interest rate increases. More >>



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