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BusinessDesk
Independent, Trustworthy New Zealand Business News
The Wellington-based BusinessDesk team provides a daily news feed for a serious business audience.
BusinessDesk - Latest News [Page 1011]
Nufarm to close Auckland plant, shift local production to Oz
Tuesday, 15 April 2014, 11:30 am | BusinessDesk
April 15 (BusinessDesk) - Nufarm, the agricultural chemicals manufacturer, will close its New Zealand manufacturing plant in Auckland and shift regional production to a plant at Laverton, in the Australian state of Victoria. More >>
Bathurst Resources needs extra day for capital raising
Tuesday, 15 April 2014, 9:54 am | BusinessDesk
April 14 (BusinessDesk) - Bathurst Resources says it needs an extra day to complete a discounted share placement raising funds to develop its controversial Escarpment open-cut coal mine on the Denniston Plateau near Westport. More >>
Local body tax idea ‘a bit rich’, says Key
Tuesday, 15 April 2014, 8:55 am | BusinessDesk
April 15 (BusinessDesk) – Prime Minister John Key made it clear he is no fan of a push by the local government lobby to be allowed to raise local taxes other than through property rates, saying the proposal is “a bit rich”. More >>
NZ dollar drops to 2-mth low vs. A$ ahead of RBA minutes
Tuesday, 15 April 2014, 8:47 am | BusinessDesk
April 15 (BusinessDesk) – The New Zealand dollar dropped to a two-month low against the Australian currency ahead of today’s release of the Reserve Bank of Australia’s minutes of its meeting this month which is expected to confirm positive sentiment ... More >>
While you were sleeping: US consumers, Citigroup
Tuesday, 15 April 2014, 7:09 am | BusinessDesk
April 15 (BusinessDesk) – Wall Street rose as solid US retail sales data and better-than-expected results from Citigroup calmed frayed nerves and reassured some investors about the outlook for the world’s largest economy and corporate profits. More >>
MARKET CLOSE: NZ stocks fall with global tech rout
Monday, 14 April 2014, 5:44 pm | BusinessDesk
April 14 (BusinessDesk) – New Zealand shares followed Wall Street lower as investors question whether tech and high-growth companies can deliver the earnings growth implied by their valuations. Pacific Edge led the NZX 50 Index lower, while Xero and Diligent ... More >>
NZ dollar holds gains ahead of Yellen appearances
Monday, 14 April 2014, 5:12 pm | BusinessDesk
April 14 (BusinessDesk) – The New Zealand dollar held its gains of last week against the greenback before public statements by Federal Reserve chair Janet Yellen amid speculation she may clarify the central bank’s view on the start of any interest ... More >>
UPDATE – No deal, say Abano rebel shareholders to buyout bid
Monday, 14 April 2014, 2:53 pm | BusinessDesk
April 14 (BusinessDesk) – The brinksmanship between Abano Healthcare Group and two shareholders owning 19 percent of the company continues, with 15 percent shareholder Peter Hutson rejecting a bid from Abano for the 50 percent of Bay International that ... More >>
Hellaby adds $20M in annual sales buying NZ Trucks, Dasko
Monday, 14 April 2014, 2:48 pm | BusinessDesk
April 14 (BusinessDesk) – Hellaby Holdings, whose interests range from footwear to oil and gas services, expects to add $20 million to annual revenue after buying New Zealand Trucks South Island and Dasko Marketing NZ. More >>
Abano calls dissident shareholders’ bluff with cash offer
Monday, 14 April 2014, 1:45 pm | BusinessDesk
April 14 (BusinessDesk) – Abano Healthcare is challenging a dissident shareholders' view of the group’s value by offering a price for 50 percent-owned Bay International well above the valuation given last week in a report for investors Peter Hutson and ... More >>
NZ Dollar Outlook: Kiwi at whim of US gyrations this week
Monday, 14 April 2014, 1:25 pm | BusinessDesk
NZ Dollar Outlook: Kiwi at the whim of US gyrations this week as investors weigh interest rate track More >>
Goodman Property builds three new developments for $44.4 mln
Monday, 14 April 2014, 12:39 pm | BusinessDesk
April 14 (BusinessDesk) – Goodman, the manager of Goodman Property Trust, said it plans to spend $44.4 million developing three new industrial properties. More >>
NZ services sector activity rebounds in March
Monday, 14 April 2014, 11:56 am | BusinessDesk
April 14 (BusinessDesk) – New Zealand services sector activity, which accounts for about two thirds of the economy, rebounded in March to reach 2007 levels, after a drop off in February. More >>
Bathurst Resources raising up to $6.87mln in placement
Monday, 14 April 2014, 11:42 am | BusinessDesk
April 14 (BusinessDesk) - Bathurst Resources, which has cut jobs and delayed the start to its controversial Escarpment open-cut mine on the Denniston Plateau pending a recovery in coal prices, may raise up to $6.87 million in a discounted share placement. More >>
NZ inflation probably accelerated in first quarter
Monday, 14 April 2014, 11:18 am | BusinessDesk
April 14 (BusinessDesk) – New Zealand inflation probably accelerated in the first quarter, keeping on track expectations that the Reserve Bank will lift the official cash rate again next week to mitigate the effects of strong demand growth in coming ... More >>
DNZ Property Fund axes five jobs to cut costs
Monday, 14 April 2014, 11:10 am | BusinessDesk
April 14 (BusinessDesk) – DNZ Property Fund, the worst performing property stock on the NZX 50 Index the past year, will shed five jobs, including two executives as it looks to cut costs. More >>
Bathurst Resources has shares halted
Monday, 14 April 2014, 9:54 am | BusinessDesk
April 14 (BusinessDesk) - Bathurst Resources, which has cut jobs and delayed the start to its controversial Escarpment open-cut mine on the Denniston Plateau pending a recovery in coal prices, had its shares halted pending a material announcement. More >>
Can Warehouse boss Powell deliver profits from investments
Monday, 14 April 2014, 9:17 am | BusinessDesk
April 14 (BusinessDesk) Warehouse Group, New Zealand’s largest publicly listed retailer, expects its ‘red sheds’ to return to earnings growth next financial year as its store rejuvenation bears fruit and says the success of its drive to expand ... More >>
NZ dollar jumps against euro on prospects of ECB stimulus
Monday, 14 April 2014, 8:58 am | BusinessDesk
April 14 (BusinessDesk) – The New Zealand dollar jumped against the euro on signals the European Central Bank is poised to introduce more stimulus to boost inflation. More >>
World Week Ahead: Earnings, data to dominate
Monday, 14 April 2014, 7:52 am | BusinessDesk
April 14 (BusinessDesk) – Wall Street is beginning a four-day week on shaky ground following last week’s selloff. More >>
