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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.

Contact BusinessDesk

Email - editor@businessdesk.co.nz

BusinessDesk - Latest News [Page 1030]

While you were sleeping: Ukraine concern heightens

Tuesday, 4 March 2014, 7:49 am | BusinessDesk

March 4 (BusinessDesk) – Stocks on both sides of the Atlantic slumped amid increased concern about the growing crisis in Ukraine and the potential for war with Russia. More >>

Margins flat for NZ banks in 2013, funding costs fall: KPMG

Tuesday, 4 March 2014, 7:21 am | BusinessDesk

March 3 (BusinessDesk) – New Zealand’s registered banks managed to lift their net interest income in 2013, in spite of intense competition in the residential mortgage market, as wholesale funding costs fell and banks eased off chasing retail deposits. More >>

MARKET CLOSE: NZX 50 above 5000; Infratil, Air NZ gain

Monday, 3 March 2014, 6:24 pm | BusinessDesk

March 3 (BusinessDesk) – New Zealand’s NZX 50 Index rose to a record, closing above 5000 for the first time as Infratil missed out on the $950 million acquisition and Air New Zealand extended gains to reach a six-year high after its results last ... More >>

Groser ordered home from Moscow as Crimean tensions grow

Monday, 3 March 2014, 5:14 pm | BusinessDesk

March 3 (BusinessDesk) – Prime Minister John Key ordered Trade Minister Tim Groser home from Russia today, ending for now any further discussions on a Russian free trade deal that has been three years in the making as Russia ratchets up pressure ... More >>

NZ dollar holds loss as Ukraine tension stokes risk aversion

Monday, 3 March 2014, 5:13 pm | BusinessDesk

March 3 (BusinessDesk) - The New Zealand dollar held its loss in local trading as heightening tensions in Ukraine weighed on investors’ appetite for higher-yielding assets. More >>

Wood processor Southern Cross Forest in receivership

Monday, 3 March 2014, 4:33 pm | BusinessDesk

March 3 (BusinessDesk) - Southern Cross Forest Products, which operates five sawmills across the country, has been tipped into receivership as wood processors continue to struggle with global demand that has pushed up log prices. More >>

UPDATED: Transpacific to sell NZ unit to Beijing Capital

Monday, 3 March 2014, 3:54 pm | BusinessDesk

March 3 (BusinessDesk) – Transpacific Industries Group, the Australian waste management company, agreed to sell its New Zealand business to Beijing Capital Group for $950 million, raising cash to repay debt. More >>

Titewhai Harawira says time to settle Treaty claims is now

Monday, 3 March 2014, 1:56 pm | BusinessDesk

March 3 (BusinessDesk) – The 80 year-old Ngapuhi iwi matriarch, Titewhai Harawira, says now is the time for the country’s largest Maori tribe to settle its claim with the Crown to redress grievances under the Treaty of Waitangi. More >>

NZ Dollar Outlook: Kiwi at mercy of Ukraine tensions, growth

Monday, 3 March 2014, 1:18 pm | BusinessDesk

March 3 (BusinessDesk) – The New Zealand dollar is likely to be driven by escalating tensions between Ukraine and Russia in the next few days. Should the dispute stabilise, attention will turn to the performance of the Chinese and US economies later in the ... More >>

Snakk Media lifts 3Q sales rose 58%, high kiwi curbs gains

Monday, 3 March 2014, 12:21 pm | BusinessDesk

March 3 (BusinessDesk) – Snakk Media, which matches advertisers with apps and social media, said third-quarter sales rose 58 percent, and would have been even higher if not for the exchange rate with Australia, which accounts for 90 percent of revenue. More >>

NZ terms of trade reaches new 40-year high in 4th quarter

Monday, 3 March 2014, 12:01 pm | BusinessDesk

NZ terms of trade reaches new 40-year high in 4th-qtr as import prices fall More >>

Transpacific to sell NZ unit to Beijing Capital for $950 mln

Monday, 3 March 2014, 11:14 am | BusinessDesk

RESEND: Super Fund trims stake in Kaingaroa as iwi buy 2.5%

Monday, 3 March 2014, 11:05 am | BusinessDesk

RESEND NZ Super Fund trims stake in Kaingaroa Timberlands as six iwi buy 2.5% More >>

Diligent, with cash pile, mulls growth options, acquisitions

Monday, 3 March 2014, 10:52 am | BusinessDesk

March 3 (BusinessDesk) - Diligent Board Member Services, which last week restated its financial statements, is mulling options for growth, including acquisitions, as the first port of call for the pile of cash it’s sitting on. More >>

NZ Super Fund trims stake in Kaingaroa as six iwi buy 2.5%

Monday, 3 March 2014, 10:52 am | BusinessDesk

March 3 (BusinessDesk) - New Zealand Superannuation Fund has sold 2.5 percent of Kaingaroa Timberlands to six central North Island iwi, giving the underlying landowners to some of the profits generated from the nation’s biggest forestry business. More >>

NZ Refining raises $48M in placement at 4% discount

Monday, 3 March 2014, 9:51 am | BusinessDesk

March 3 (BusinessDesk) – New Zealand Refining raised $48 million in a placement of new shares at a 4 percent discount to give the nation’s only oil refinery more funding flexibility as it invests in new capacity in the face of volatile refining ... More >>

Pyne Gould posts first-half loss

Monday, 3 March 2014, 8:57 am | BusinessDesk

March 3 (BusinessDesk) - Pyne Gould Corp., the asset management firm which recently relocated to Guernsey, reported a first-half loss on foreign exchange charges and its share of a loss posted by Equity Partners Infrastructure Co No. 1, though expects ... More >>