BusinessDesk
Independent, Trustworthy New Zealand Business News
The Wellington-based BusinessDesk team led by former Bloomberg Asian top editor Jonathan Underhill and Qantas Award-winning journalist and commentator Pattrick Smellie provides a daily news feed for a serious business audience.
BusinessDesk - Latest News [Page 1]
Livestock Improvement Corp first-half profit drops 22%
Wednesday, 24 January 2018, 8:37 pm | BusinessDesk
Jan. 24 (BusinessDesk) - Livestock Improvement Corp posted a 22 percent slide in first-half profit as the farmer-owned herd genetics cooperative ramped up spending to overhaul its business, which it says is vulnerable to the same disruption other ... More >>
MARKET CLOSE: NZ shares mixed, A2 and Mercury gain
Wednesday, 24 January 2018, 8:35 pm | BusinessDesk
Jan. 24 (BusinessDesk) - New Zealand shares were mixed as trading picked up, with A2 Milk Co and Mercury Energy gaining while Metro Performance Glass fell. More >>
Dollar gains as CPTPP deal reached; growing US protectionism
Wednesday, 24 January 2018, 8:22 pm | BusinessDesk
Jan. 24 (BusinessDesk) - The New Zealand dollar gained as investors welcomed an agreement on the regional Asia-Pacific trade and investment pact, while growing US protectionism weighed on the greenback. More >>
NZ farm sales fall in December quarter while prices hold
Wednesday, 24 January 2018, 7:36 pm | BusinessDesk
Jan. 24 (BusinessDesk) - Farm sales fell 21 percent in the December quarter from a year earlier, although prices held up as increasingly expensive horticulture properties offset cheaper dairy farms, according to the Real Estate Institute. More >>
Volpara posts record sales in December quarter
Wednesday, 24 January 2018, 3:45 pm | BusinessDesk
Jan. 24 (BusinessDesk) - Volpara Health Technologies, the Kiwi digital health firm listed on the ASX, reported record quarterly sales in the third quarter and is still on track to exceed its annual recurring revenue growth target for the year. More >>
FNZC cuts target price but maintains dividend hopes for Z
Wednesday, 24 January 2018, 3:00 pm | BusinessDesk
Jan. 24 (BusinessDesk) - First NZ Capital says it's plausible Z Energy's downgraded guidance is due to one-off factors and maintained its dividend expectations for the stock, but has trimmed its target price for the stock. More >>
Michael Hill gives up on decade-long US experiment
Wednesday, 24 January 2018, 2:34 pm | BusinessDesk
Jan. 24 (BusinessDesk) - Michael Hill International, the jewellery chain founded by its namesake, will wind up its US operations after a decade-long investment failed to build a profitable business, and is overhauling its Emma & Roe jewellery line. More >>
Kathmandu tips first half profit to rise 20% on higher sales
Wednesday, 24 January 2018, 2:05 pm | BusinessDesk
Jan. 24 (BusinessDesk) - Kathmandu Holdings, the outdoor equipment retailer, expects a 20 percent lift in first-half net profit on a 4 percent lift in total sales and wider gross margins. More >>
NZIBF praises concluded CPTPP negotiations
Wednesday, 24 January 2018, 1:38 pm | BusinessDesk
Jan. 24 (BusinessDesk) - The New Zealand International Business Forum (NZIBF) welcomed news negotiators meeting in Tokyo concluded talks for the renamed Comprehensive and Progressive Trans-Pacific Partnership (CPTPP). More >>
Kimbal Riley to take helm of Vista in April
Wednesday, 24 January 2018, 12:41 pm | BusinessDesk
Jan. 24 (BusinessDesk) - Kimbal Riley will take over as Vista Group International chief executive from April 3, replacing Murray Holdaway, who will become chief product officer. More >>
Second Mercury earnings upgrade
Wednesday, 24 January 2018, 12:08 pm | BusinessDesk
Jan. 24 (BusinessDesk) - Mercury NZ, formerly MightyRiverPower, has raised its annual earnings guidance for a second time as a spell of wet summer weather around Taupo has the power company anticipating increased generation at its North Island hydro ... More >>
NZ dollar hits 4-month high as Trump announces US tariffs
Wednesday, 24 January 2018, 11:43 am | BusinessDesk
Jan. 24 (BusinessDesk) - The New Zealand dollar rose to a four-month high as US President Donald Trump raised tariffs on imports of washing machines and solar panels, raising fears about the White House's protectionist attitude. More >>
While you were sleeping: Wall St mixed, Netflix rallies
Wednesday, 24 January 2018, 10:45 am | BusinessDesk
Jan. 24 (BusinessDesk) - Wall Street was mixed, though trading near record highs, as a rally in shares of Netflix following better-than-expected earnings offset slides in shares of Johnson & Johnson Procter & Gamble as their results disappointed. More >>
MARKET CLOSE: NZ shares mixed; Z drops on downgrade
Tuesday, 23 January 2018, 8:33 pm | BusinessDesk
Jan. 23 (BusinessDesk) - New Zealand shares were mixed, with Z Energy dropping on an earnings downgrade while Air New Zealand bounced back from recent selling. More >>
Powerhouse purges Motim board, SolarBright founders quit
Tuesday, 23 January 2018, 8:27 pm | BusinessDesk
Jan. 23 (BusinessDesk) - Powerhouse Ventures is facing more turmoil at two of its investee firms, purging the board of one and losing the founders of another. More >>
NZ dollar benefits from US short-term government funding
Tuesday, 23 January 2018, 8:25 pm | BusinessDesk
Jan. 23 (BusinessDesk) - The New Zealand dollar gained against the greenback after US legislators managed to broker a deal to end a federal government shutdown. More >>
Investore earnings, dividends to get boost from Bunnings
Tuesday, 23 January 2018, 7:35 pm | BusinessDesk
Jan. 23 (BusinessDesk) - Investore Property will pay just below book value to buy three Bunnings stores from manager Stride Property Group in a deal which will boost earnings and dividends, says the independent adviser. More >>
Trans-Tasman Resources to go public in backdoor listing
Tuesday, 23 January 2018, 7:33 pm | BusinessDesk
Jan. 23 (BusinessDesk) - Ironsands miner Trans-Tasman Resources will go public via a backdoor listing on the ASX using Manhattan Corp, a company associated with executive chairman Alan Eggers. More >>
Wgtn's Habitual Fix on Featherston liquidated again
Tuesday, 23 January 2018, 7:31 pm | BusinessDesk
Jan. 23 (BusinessDesk) - A second business operating Wellington's Habitual Fix on Featherston Street has been placed into liquidation in the space of a year, with the Beehive end of town still impacted by the November 2016 earthquakes. More >>
Former trustee pleads guilty to fraud
Tuesday, 23 January 2018, 7:29 pm | BusinessDesk
Jan. 23 (BusinessDesk) - A former trust asset manager and trustee has pleaded guilty to fraud in Auckland's High Court today over receiving secret payments in 2009 and 2012. More >>
