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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 128]
NZ dollar drops below US68c on plan to up bank capital
Friday, 14 December 2018, 8:38 pm | BusinessDesk
Dec. 14 (BusinessDesk) - The New Zealand dollar fell below 68 US cents for the first time in two weeks after the Reserve Bank outlined plans for lenders to hold greater capital reserves, which would likely boost borrowing costs and slow the economy. More >>
Big four banks face stiffer capital requirements from RBNZ
Friday, 14 December 2018, 8:30 pm | BusinessDesk
Dec. 14 (BusinessDesk) - The big four Australian-owned banks will have to hold on to more of their domestic earnings over the next five years if the Reserve Bank goes ahead with its proposal for stricter capital requirements. More >>
Noel Leeming fined $200,000 for misleading consumers
Friday, 14 December 2018, 8:15 pm | BusinessDesk
Dec. 14 (BusinessDesk) - Noel Leeming has been fined $200,000 for misleading consumers about their rights under the Consumer Guarantees Act following a Commerce Commission prosecution. More >>
Infratil signals A$50m investment in Canberra Data Centres
Friday, 14 December 2018, 6:45 pm | BusinessDesk
Dec. 14 (BusinessDesk) - Infratil says it expects to invest up to another A$50 million in Canberra Data Centres to help fund its on-going growth. More >>
Govt provides $2.5 mln to develop Opotiki aquaculture
Friday, 14 December 2018, 4:08 pm | BusinessDesk
Dec. 14 (BusinessDesk) - The government has committed more than $2.5 million from the Provincial Growth Fund to help expand marine farming at Opotiki. More >>
New role may alleviate kiwifruit labour shortage
Friday, 14 December 2018, 3:34 pm | BusinessDesk
Dec. 14 (BusinessDesk) - The New Zealand kiwifruit growers' association says it has gained support from the government’s Provincial Growth Fund and the Ministry of Social Development to employ a labour coordinator to try to alleviate an expected ... More >>
NZ manufacturing activity chugs along in November
Friday, 14 December 2018, 3:10 pm | BusinessDesk
Dec. 14 (BusinessDesk) - New Zealand manufacturing activity grew at a slightly slower pace last month, hovering around its long-run average, as the sector recovers from a mid-year lull. More >>
Australia's GWA lobs in $118M bid for Methven
Friday, 14 December 2018, 2:27 pm | BusinessDesk
Dec. 14 (BusinessDesk) - Australian kitchenware firm GWA Group is mounting a $118 million bid for Kiwi tapware maker Methven and has the blessing of cornerstone investor Brendan Lindsay, barring a better offer emerging. More >>
Govt leaves door open for higher emissions price cap
Friday, 14 December 2018, 2:17 pm | BusinessDesk
Dec. 14 (BusinessDesk) - The government appears to have left the door open for an increase in emission prices before it moves to regular auctions of emission units in 2020. More >>
Methven shares halted pending material transaction
Friday, 14 December 2018, 1:26 pm | BusinessDesk
Dec. 14 (BusinessDesk) - Trading in Methven shares has been halted pending the announcement of a material transaction. More >>
Housing market continued cooling in November
Friday, 14 December 2018, 1:12 pm | BusinessDesk
Dec. 14 (BusinessDesk) - House price inflation abated further in November, although sales volumes increased slightly, and the Auckland market cooled a little more. More >>
ComCom nudges Fonterra towards greater transparency
Friday, 14 December 2018, 1:10 pm | BusinessDesk
Dec. 14 (BusinessDesk) - The Commerce Commission wants more transparency from Fonterra Cooperative Group, saying the dairy processor hasn't met its commitments to be more forthcoming. More >>
Infratil forecast unaffected by delayed return from Longroad
Friday, 14 December 2018, 1:10 pm | BusinessDesk
Dec. 14 (BusinessDesk) - Infratil says the later-than-expected receipt of development margins on Longroad Energy’s Rio Bravo wind development hasn’t altered the firm’s full-year earnings guidance. More >>
Scales pays US$23.2m for 60% of US petfood manufacturer
Friday, 14 December 2018, 12:25 pm | BusinessDesk
Dec. 14 (BusinessDesk) - Mr Apple owner Scales Corp says it has bought 60 percent of a United States-based petfood manufacturer. More >>
NZ dollar trades in tight range
Friday, 14 December 2018, 11:40 am | BusinessDesk
Dec. 14 (BusinessDesk) - The New Zealand dollar traded in a tight range as the European Central Bank confirmed it will end its quantitative easing programme at the end of the month, despite a gloomier economic outlook. More >>
MARKET CLOSE: NZ shares rise on optimism over US-China trade
Thursday, 13 December 2018, 9:02 pm | BusinessDesk
MARKET CLOSE: NZ shares rise as optimism over US-China trade deal lingers; Fletcher gains More >>
NZD under pressure against Aussie as investors cheered
Thursday, 13 December 2018, 8:25 pm | BusinessDesk
Dec. 13 (BusinessDesk) - The New Zealand dollar is under pressure against the Australian dollar as signs of progress in the US-China trade dispute benefit the Aussie more than the kiwi, given Australia's greater exposure to China. More >>
PFI properties’ valuation rises 5.5% to $1.32 billion
Thursday, 13 December 2018, 8:24 pm | BusinessDesk
Dec. 13 (BusinessDesk) - Property for Industry says the value of its portfolio has risen by 5.5 percent and that it has sold a Wellington property that had asbestos and earthquake issues. More >>
UPDATE: MBIE officials grilled on terms of Westland Milk
Thursday, 13 December 2018, 8:06 pm | BusinessDesk
Dec. 13 (BusinessDesk) - Not knowing how much interest Westland Milk is paying on its $9.9 million loan from the government’s Provincial Development Fund leaves parliamentarians no means of assessing how much of a subsidy the dairy company is ... More >>
Broader definition of workplace harm
Thursday, 13 December 2018, 8:04 pm | BusinessDesk
Dec. 13 (BusinessDesk) - Workplace Relations and Safety Minister Iain Lees-Galloway wants a greater focus on how to reduce all kinds of workplace harm in a new health and safety strategy. More >>
