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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 13]
NZ weaker as ECB package, inflation data lifts greenback
Friday, 13 September 2019, 11:08 am | BusinessDesk
Sept. 13 (BusinessDesk) - The New Zealand dollar fell after a bigger than expected stimulus from the European Central Bank and stronger-than-expected US inflation data lifted the greenback. More >>
MARKET CLOSE: Z Energy, Synlait crash on earnings downgrades
Thursday, 12 September 2019, 8:56 pm | BusinessDesk
Sept. 12 (BusinessDesk) - New Zealand shares fell as investors punished fuel retailer Z Energy and dairy processor Synlait Milk for earnings downgrades. More >>
NZ dollar edges higher on US-China peace offerings
Thursday, 12 September 2019, 8:10 pm | BusinessDesk
Sept. 12 (BusinessDesk) - The New Zealand dollar firmed after both the United States and China each offered goodwill gestures ahead of talks aimed at ending the trade war. More >>
Construction industry still awaiting benefits of govt accord
Thursday, 12 September 2019, 7:55 pm | BusinessDesk
Sept. 12 (BusinessDesk) - Government departments are still trying to foist onerous contracts on building companies, notwithstanding the Construction Industry Accord signed in April, Southbase chief executive Quin Henderson told an industry forum ... More >>
Fonterra's Velocity program doesn't appear to have delivered
Thursday, 12 September 2019, 5:11 pm | BusinessDesk
Sept. 12 (BusinessDesk) - Fonterra Cooperative Group's 2015 'Velocity' restructuring doesn't appear to have achieved the savings expected and pushed up the dominant dairy exporter's costs used in setting the regulated milk price. More >>
Synlait to commission Pokeno plant despite legal problems
Thursday, 12 September 2019, 4:04 pm | BusinessDesk
Sept. 12 (BusinessDesk) - Synlait Milk will commission its new Pokeno plant before the end of the month despite an ongoing legal battle. More >>
Case growing for reviving rejected StuffME merger
Thursday, 12 September 2019, 2:23 pm | BusinessDesk
Sept. 12 (BusinessDesk) - Cost-cutting at online and news publisher Stuff is compromising the quality of its products, hastening a decline in its “very poor” earnings and could tip the balance to favour a revived merger with NZME, says investment house ... More >>
T&G sells site to Goodman Property for $65m
Thursday, 12 September 2019, 12:48 pm | BusinessDesk
Sept. 12 (BusinessDesk) - T&G Global has sold its Mt Wellington property to Goodman Property Trust for $65 million and will lease it for up to four years while it figures out what kind of office and logistics space it needs. More >>
Synlait profit rises 10%
Thursday, 12 September 2019, 12:47 pm | BusinessDesk
Sept. 12 (BusinessDesk) - Synlait Milk lifted annual net profit 10 percent and said it remains sanguine about legal issues facing its soon-to-be commissioned Pokeno plant. More >>
Z Energy cuts forecast by $60m
Thursday, 12 September 2019, 12:35 pm | BusinessDesk
Sept. 12 (BusinessDesk) - Z Energy has cut its earnings guidance by $60 million, citing “unprecedented” discounting and weaker than expected margins at the Marsden Point refinery. More >>
NZ dollar dips on US data; focus now on ECB
Thursday, 12 September 2019, 11:03 am | BusinessDesk
Sept. 12 (BusinessDesk) - The New Zealand dollar dipped after US producer price's lifted in August but was largely treading water ahead of the European Central Bank rate decision due overnight. More >>
China 'hopes' NZ will let Huawei into 5G
Thursday, 12 September 2019, 10:30 am | BusinessDesk
Sept. 12 (BusinessDesk) - China's ambassador to New Zealand, Wu Xi, says her government hopes New Zealand will let Chinese telecommunications company Huawei provide equipment for the country's 5G network despite "trade bullying" from the United States. More >>
Watch and prepare to adopt new technologies
Thursday, 12 September 2019, 10:19 am | BusinessDesk
Sept. 12 (BusinessDesk) - New Zealand should monitor the impact of new technologies on labour markets internationally while looking for ways to improve our capacity to take them up and adapt to any changes that result, the Productivity Commission ... More >>
NZ dollar edges higher amid bond market sell-off
Thursday, 12 September 2019, 8:20 am | BusinessDesk
Sept. 11 (BusinessDesk) - The New Zealand dollar firmed as investors hurt by the recent global bond market sell-off sold profitable positions to cover losses elsewhere. More >>
MARKET CLOSE: NZ shares sink; rising rates sap demand
Wednesday, 11 September 2019, 8:49 pm | BusinessDesk
Sept. 11 (BusinessDesk) - New Zealand shares dropped to a one-week low as higher interest rates reduced demand for reliable dividends from the likes of Meridian Energy and Spark New Zealand. More >>
NZ dollar edges higher amid bond market sell-off
Wednesday, 11 September 2019, 8:46 pm | BusinessDesk
Sept. 11 (BusinessDesk) - The New Zealand dollar firmed as investors hurt by the recent global bond market sell-off sold profitable positions to cover losses elsewhere. More >>
Tourist numbers rise in July
Wednesday, 11 September 2019, 3:06 pm | BusinessDesk
Sept. 11 (BusinessDesk) - Australians and Americans continued to visit New Zealand in growing numbers in the traditionally quiet month of July, more than offsetting the decline in Asian tourist numbers. More >>
Dairy Farms NZ encouraged to pursue IPO
Wednesday, 11 September 2019, 2:35 pm | BusinessDesk
Sept. 11 (BusinessDesk) - Dairy Farms NZ is being encouraged to pursue an initial public offering as controls on land sales depress farm prices but also restrict the firm's ability to raise funds from foreign investors. More >>
S&P: Fonterra restructuring is a 'painful' step to recovery
Wednesday, 11 September 2019, 1:42 pm | BusinessDesk
Sept. 11 (BusinessDesk) - Fonterra Cooperative Group has taken a painful step toward recovery but any wavering would put immediate pressure on its 'A-' rating, says S&P Global Ratings. More >>
COMMENT: Retail shareholder perspective missing from review
Wednesday, 11 September 2019, 12:54 pm | BusinessDesk
Sept. 11 (BusinessDesk) - One glaring omission in the capital markets review committee's report this week is the point of view of retail shareholders which is largely missing in action. More >>
