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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 143]
ComCom appeals Steel & Tube sentence
Tuesday, 20 November 2018, 12:48 pm | BusinessDesk
Nov. 20 (BusinessDesk) - The Commerce Commission is appealing the record $1.89 million fine imposed against Steel & Tube Holdings for misrepresenting steel mesh products it sold. More >>
Argosy expects to find more damage at NZ Post House
Tuesday, 20 November 2018, 12:47 pm | BusinessDesk
Nov. 20 (BusinessDesk) - Argosy Property believes New Zealand Post House in downtown Wellington suffered more damage than initially thought in the 2016 earthquake, but wants it upgraded quickly to meet tight demand in the capital city. More >>
Fletcher Building says first-half core earnings will be down
Tuesday, 20 November 2018, 12:16 pm | BusinessDesk
Nov. 20 (BusinessDesk) - Fletcher Building says it expects operating profit before “significant items” and the losses on high-rise projects will come in about 10 percent lower in its first half than in the year-earlier period. More >>
NZ dollar slips as US-China trade tensions persist
Tuesday, 20 November 2018, 11:49 am | BusinessDesk
Nov. 20 (BusinessDesk) - The New Zealand dollar snapped a four-day rally as trade tensions between the US and China at the APEC meeting raised concerns that the dispute may spill over into slower global growth. More >>
Spark sets 5G launch date, but without any 5G spectrum
Tuesday, 20 November 2018, 11:15 am | BusinessDesk
Nov. 20 (BusinessDesk) - Spark chief executive Simon Moutter has a big hairy audacious goal, to get the company's 5G mobile network up and running by July 2020, in time for Emirates Team New Zealand to use the high-speed, low-lag network as part of its ... More >>
MARKET CLOSE: NZ shares dip as trade war fears linger
Monday, 19 November 2018, 9:04 pm | BusinessDesk
Nov. 19 (BusinessDesk) - New Zealand shares fell for a fifth day as investors remain wary of the impact a trade war will have on company earnings with export-focused stocks Tourism Holdings and Pushpay still under pressure. Fletcher Building declined ... More >>
NZ dollar still firm against USD but gains capped
Monday, 19 November 2018, 8:26 pm | BusinessDesk
Nov. 19 (BusinessDesk) - The New Zealand dollar held its gains against the greenback after the US Federal Reserve officials were cautious about the global growth outlook but jitters about the US-China trade dispute kept it capped. More >>
Microsoft NZ and IRD officially at odds over tax
Monday, 19 November 2018, 7:34 pm | BusinessDesk
Nov. 19 (BusinessDesk) - Microsoft New Zealand and the Inland Revenue Department are officially at odds after a lengthy audit of the software giant's local books. More >>
Fonterra ahead of schedule on emissions reduction
Monday, 19 November 2018, 7:33 pm | BusinessDesk
Nov. 19 (BusinessDesk) - Fonterra says its emission reduction efforts are running about a year ahead of schedule. More >>
Metroglass shares tumble to record low
Monday, 19 November 2018, 4:39 pm | BusinessDesk
Nov. 19 (BusinessDesk) - Metro Performance Glass shares fell to a record low as it signalled a possible competitive threat on the horizon. More >>
NZX and SIA say no capital gains tax on retail shares
Monday, 19 November 2018, 4:38 pm | BusinessDesk
Nov. 19 (BusinessDesk) - Imposing a capital gains tax on investment in New Zealand shares runs the risk of discouraging direct retail investment, damaging the nation’s capital markets. More >>
CORRECT: NZSA pans Kathmandu's lack of disclosure
Monday, 19 November 2018, 4:27 pm | BusinessDesk
(Corrects to show in the 7th paragraph that the annual report does provide details of directors' fees in story that ran on Friday Nov. 16.) More >>
CORRECT: Signs mount that Fonterra will have to cut forecast
Monday, 19 November 2018, 3:40 pm | BusinessDesk
Nov. 19 (BusinessDesk) - The risks are mounting against Fonterra holding its current forecast milk payout and this week's GlobalDairyTrade auction could be yet another nail in its coffin. More >>
Milk processors reap fatter margins in September quarter
Monday, 19 November 2018, 3:17 pm | BusinessDesk
Nov. 19 (BusinessDesk) - Cheaper raw milk prices and better prices for processed dairy products at home and abroad supported fatter margins for dairy product manufacturers in the second quarter. More >>
Heartland lifts first quarter profit 8.7%
Monday, 19 November 2018, 2:48 pm | BusinessDesk
Nov. 19 (BusinessDesk) - Heartland Group is working on solutions for millennials and Gen Z, mobile and card payments and an end-to-end depositors’ platform, the financial services company told its investor day. More >>
Sanford enters conditional deal to sell fishing business
Monday, 19 November 2018, 2:46 pm | BusinessDesk
Nov. 19 (BusinessDesk) - New Zealand seafood company Sanford is opting to reduce its quota holding to focus on value as it enters a conditional deal to sell its Tauranga-based fishing business to local company Pelco NZ. More >>
Pick-up in services, manufacturing to contain any slowdown
Monday, 19 November 2018, 2:15 pm | BusinessDesk
Nov. 19 (BusinessDesk) - Increased services and manufacturing activity last month will likely keep any third-quarter economic slowdown short-lived. More >>
Kiwi Property Group first half profit edges up
Monday, 19 November 2018, 1:06 pm | BusinessDesk
Nov. 19 (BusinessDesk) - Kiwi Property Group lifted its first-half profit 0.9 percent as the real estate investor's smaller bank debt carried a lower interest cost. More >>
Investore’s first-half profit down 14%
Monday, 19 November 2018, 12:40 pm | BusinessDesk
Nov. 19 (BusinessDesk) - Investore Property’s first-half net profit fell 14 percent as management fees increased, its interest bill rose and the value of its properties fell. More >>
NZ dollar holds gains as Fed nears 'neutral'
Monday, 19 November 2018, 11:52 am | BusinessDesk
Nov. 19 (BusinessDesk) - The New Zealand dollar held most of its gains from last week after Federal Reserve vice chair Richard Clarida said future rate hikes will depend on data with policy near a 'neutral' setting. More >>
