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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 151]
NZ dollar gains against USD
Thursday, 1 November 2018, 8:14 pm | BusinessDesk
Nov. 1 (BusinessDesk) - The New Zealand dollar gained against the greenback after markets were cheered by news that the UK and the European Union may have struck a tentative Brexit deal on financial services. More >>
Z Energy accelerates cost-savings initiatives
Thursday, 1 November 2018, 7:52 pm | BusinessDesk
Nov. 1 (BusinessDesk) - Z Energy is accelerating work on new services and cost-saving initiatives in the face of a “very tricky” crude oil market. More >>
Chorus focused on single-visit connections for customers
Thursday, 1 November 2018, 5:19 pm | BusinessDesk
Nov. 1 (BusinessDesk) - Chorus wants to have half its customers connected in just one visit by Christmas, as part of a wider programme it says will make life easier for its users. More >>
Fletcher sells Roof Tile Group for US$39M
Thursday, 1 November 2018, 4:59 pm | BusinessDesk
Nov. 1 (BusinessDesk) - Fletcher Building has sold its Roof Tile Group business to Canada's IKO group for US$39 million and expects to exit its Formica laminated panels business this financial year. More >>
5G spectrum allocation on track for early 2020: Faafoi
Thursday, 1 November 2018, 4:14 pm | BusinessDesk
Nov. 1 (BusinessDesk) - Allocation of radio spectrum for the next generation of mobile telecommunications is still on track for early 2020 "if everything goes to plan," Communications Minister Kris Faafoi says. More >>
Stay open to future technologies, energy executives told
Thursday, 1 November 2018, 3:42 pm | BusinessDesk
Nov. 1 (BusinessDesk) - Rapidly evolving technologies may deliver household energy options in coming decades that can barely be imagined, a conference of industry executives heard yesterday. More >>
Next phase of RBNZ review
Thursday, 1 November 2018, 3:39 pm | BusinessDesk
Nov. 1 (BusinessDesk) - The next stage of the Reserve Bank Act review has kicked off and will focus on whether New Zealand needs depositor protection and if the central bank should still be the prudential supervisor. More >>
Briscoe fattens margins as third quarter sales rise 2.6%
Thursday, 1 November 2018, 3:20 pm | BusinessDesk
Nov. 1 (BusinessDesk) - Briscoe Group managed to fatten its gross margin and boost sales in the third quarter, despite the highly competitive retail environment. More >>
BNZ earnings outperform on widening interest margins
Thursday, 1 November 2018, 2:12 pm | BusinessDesk
Nov. 1 (BusinessDesk) - Bank of New Zealand's annual earnings stood out for National Australia Bank as local mortgage lending growth with fatter margins more than made up for higher spending on its digitisation programme. More >>
Airport upgrades don't justify targeted returns, ComCom says
Thursday, 1 November 2018, 1:16 pm | BusinessDesk
Auckland International Airport's $1.8 billion infrastructure upgrade doesn't justify a 7.06 percent return on its regulated assets during the next five years, the Commerce Commission says. More >>
Z Energy cuts guidance a second time as 1H earnings drop 21%
Thursday, 1 November 2018, 12:36 pm | BusinessDesk
Nov. 1 (BusinessDesk) - Z Energy has cut its full-year earnings guidance after rising oil prices and a weaker New Zealand dollar slashed its first-half operating profit by 21 percent. More >>
NZ dollar falls as US wages grow faster than expected
Thursday, 1 November 2018, 11:42 am | BusinessDesk
Nov. 1 (BusinessDesk) - The New Zealand dollar fell as stronger-than-expected US wage growth helped push US bond yields higher, making the greenback more attractive. More >>
House prices tick up in three months to October
Thursday, 1 November 2018, 8:09 am | BusinessDesk
Nov. 1 (BusinessDesk) - Growth in house prices ticked up modestly in the three months to October, with Wellington leading gains among the major centres. More >>
MARKET CLOSE: NZ shares outperform Australia
Wednesday, 31 October 2018, 9:13 pm | BusinessDesk
Oct. 31 (BusinessDesk) - New Zealand shares outperformed their Australian counterparts as Australia & New Zealand Banking Group kicked off reporting by the 'four pillars' of the banking sector. More >>
Cooks Global Foods' bid for Mojo falls through
Wednesday, 31 October 2018, 9:12 pm | BusinessDesk
Oct. 31 (BusinessDesk) - Cooks Global Foods' bid to buy Mojo Coffee Cartel for $19 million fell through when conditions weren't met. More >>
THL confident in new strategy; investors nervous
Wednesday, 31 October 2018, 9:11 pm | BusinessDesk
Oct. 31 (BusinessDesk) - Tourism Holdings is at pains to stress to it isn’t betting the family farm, despite selling most of its remaining traditional tourism assets and launching an ambitious investment programme in digital products for campervan ... More >>
Soft Chinese manufacturing data keeps a lid on kiwi dollar
Wednesday, 31 October 2018, 9:10 pm | BusinessDesk
Oct. 31 (BusinessDesk) - The New Zealand dollar continued to struggle against the greenback after soft manufacturing data out of China raised concerns about a slowdown in this country's largest trading partner. More >>
Pyne Gould will delist in November
Wednesday, 31 October 2018, 9:09 pm | BusinessDesk
Oct. 31 (BusinessDesk) - Pyne Gould Corp will leave the NZX next month after minority investors backed a shift to The International Stock Exchange (TISE) in Guernsey, where the firm is domiciled. More >>
China’s Fenglin gets greenlight for Kawerau mill land
Wednesday, 31 October 2018, 7:04 pm | BusinessDesk
Oct. 31 (BusinessDesk) - China’s Guangxi Fenglin Wood Industry Group has been given a green light to lease land to build and operate a $100 million-plus particle board factory in Kawerau. More >>
ANZ still picking interest rate cut
Wednesday, 31 October 2018, 4:29 pm | BusinessDesk
Oct. 31 (BusinessDesk) - New Zealand business confidence remained sour in October with both headline sentiment and firms' views of their own activity largely unchanged from September, with the ANZ Bank still thinking the Reserve Bank will eventually ... More >>
