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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 107]
NZ dollar rises on stronger China trade data
Thursday, 14 February 2019, 9:14 pm | BusinessDesk
Feb. 14 (BusinessDesk) - The New Zealand dollar rose on stronger than expected trade data from China and positive news on its trade dispute with the United States. More >>
Macpac performance overshadowed by SRG underpayments scandal
Thursday, 14 February 2019, 9:13 pm | BusinessDesk
Feb. 14 (BusinessDesk) - Super Retail Group, which bought New Zealand outdoor clothing and equipment company Macpac 12 months ago, reported a 6 percent increase in first-half sales and an almost 9 percent improvement in normalised net profit. More >>
MPs told $200m Northport rail link 'critical'
Thursday, 14 February 2019, 9:12 pm | BusinessDesk
Feb. 14 (BusinessDesk) - Economic growth in Northland is akin to that in Waikato and the Bay of Plenty during the 1970s and 1980s and will need investment in rail to support the region’s growing export industries, MPs heard today. More >>
CORRECTION: AMP NZ's earnings slide; group profit slumps 97%
Thursday, 14 February 2019, 9:04 pm | BusinessDesk
(Corrects to show AMP NZ results in the first sentence are for the life insurance business only) More >>
TVNZ has a keen interest in what happens to Stuff
Thursday, 14 February 2019, 9:03 pm | BusinessDesk
Feb. 14 (BusinessDesk) - Television New Zealand chief executive Kevin Kenrick will take a keen interest in Nine Entertainment's planned sale of its New Zealand business and isn't ruling out having a look at Stuff's assets. More >>
UPDATE: Reserve Bank's Orr says he's open to persuasion
Thursday, 14 February 2019, 9:01 pm | BusinessDesk
UPDATE: Reserve Bank's Orr says he's open to persuasion on new bank capital rules More >>
UPDATE: KiwiBuild will crowd out as much as 75%
Thursday, 14 February 2019, 9:00 pm | BusinessDesk
Feb. 14 (BusinessDesk) - The Reserve Bank estimates that for every 100 houses built under the government's KiwiBuild programme over the next three years, between 50 and 75 other houses may not be built because of capacity constraints. More >>
New MPS committee reduces risk of a feral Reserve Bank
Thursday, 14 February 2019, 4:11 pm | BusinessDesk
New MPS committee reduces risk of a feral Reserve Bank governor: Orr More >>
AMP NZ's earnings slide 45%; group profit slumps 97%
Thursday, 14 February 2019, 3:50 pm | BusinessDesk
Feb. 14 (BusinessDesk) - AMP’s New Zealand arm reported a 45 percent slump in operating earnings to A$39 million for calendar 2018, largely reflecting A$180 million of capitalised losses and about A$50 million of experience losses. This follows an increase in income ... More >>
Suncorp's New Zealand 1H profit jumps on premium price hikes
Thursday, 14 February 2019, 3:33 pm | BusinessDesk
Feb. 14 (BusinessDesk) - Suncorp Group's New Zealand insurance arm boosted first-half profit by 79 percent as the latest round of premium hikes coincided with a dip in how much it paid out in claims. More >>
Meridian buys power from rival Genesis amid strong demand
Thursday, 14 February 2019, 3:08 pm | BusinessDesk
Feb. 14 (BusinessDesk) - Meridian Energy, the country’s biggest hydro generator, has bought electricity from rival power company, gas/coal generator Genesis Energy over the past two months. This is a sign it is trying to manage its hydro risk coming ... More >>
January food prices rise 0.8% from year earlier
Thursday, 14 February 2019, 2:50 pm | BusinessDesk
Feb. 14 (BusinessDesk) - Food prices in January were 0.8 percent higher than a year earlier, driven by higher meat, grocery and take-away costs. More >>
NZ house sales fall in January, take longer
Thursday, 14 February 2019, 2:05 pm | BusinessDesk
Feb. 14 (BusinessDesk) - New Zealand's real estate turnover shrank in January as deals took longer to close and prices rose at a slower annual pace. More >>
CORRECT: Wrightson cleared to sell seeds business
Thursday, 14 February 2019, 2:04 pm | BusinessDesk
(Fixes size of gain in 5th paragraph in story that ran on Wednesday, Feb. 13) More >>
KiwiBuild will crowd out other home building: RBNZ
Thursday, 14 February 2019, 1:30 pm | BusinessDesk
Feb. 14 (BusinessDesk) - The Reserve Bank estimates that for every 100 houses built under the government's KiwiBuild programme over the next three years, between 50 and 75 other houses may not be built because of capacity constraints. More >>
Skellerup lifts 1H profit 15% on strong industrial sales
Thursday, 14 February 2019, 12:52 pm | BusinessDesk
Feb. 14 (BusinessDesk) - Rubber goods maker Skellerup Holdings expects a further increase in record full-year earnings after strong growth in its industrial business boosted first-half profit by 15 percent. More >>
NZ dollar holds above US68c as greenback rallies
Thursday, 14 February 2019, 11:48 am | BusinessDesk
Feb. 14 (BusinessDesk) - The New Zealand dollar held above 68 US cents, paring some of yesterday's gain, as higher-than-expected US inflation was seen as giving the Federal Reserve scope to raise interest rates. More >>
Orr says he's open to persuasion on new bank capital rules
Thursday, 14 February 2019, 11:20 am | BusinessDesk
Feb. 14 (BusinessDesk) - Reserve Bank governor Adrian Orr says a proposed doubling of capital that banks have to hold isn't fixed in stone. More >>
Timeline tight for critical skills education reform
Thursday, 14 February 2019, 11:12 am | BusinessDesk
Feb. 14 (BusinessDesk) - Business and education providers have just six weeks to respond to a radical proposal from Education Minister Chris Hipkins to reform the vocational training system. More >>
MARKET CLOSE: NZ shares join global rally
Wednesday, 13 February 2019, 9:03 pm | BusinessDesk
Feb. 13 (BusinessDesk) - New Zealand shares joined a global rally on optimism that the latest US delegation to Beijing will make meaningful gains in soothing the strained trade relations. Tourism Holdings led widespread gains; SkyCity Entertainment Group ... More >>
