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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 160]
Mainzeal directors ignored forex loan risk
Friday, 12 October 2018, 7:41 pm | BusinessDesk
Oct. 12 (BusinessDesk) - Directors of failed property company Mainzeal, including former Prime Minister Jenny Shipley and former Brierley Investments boss Paul Collins, should have known there was a high risk they wouldn’t get back millions of dollars ... More >>
Stuff the laggard among Fairfax businesses
Friday, 12 October 2018, 3:58 pm | BusinessDesk
Oct. 12 (BusinessDesk) - Stuff has been the laggard among Fairfax Media Group's trans-Tasman businesses in recent months and may be sharpened up for divestment if a merger with Australia's Nine Entertainment Co goes ahead. More >>
High power prices to persist with Pohokura outage
Friday, 12 October 2018, 3:31 pm | BusinessDesk
Oct. 12 (BusinessDesk) - High power prices may persist for another month with full production from the Pohokura gas field not expected to resume before late November. More >>
$434M sale of Wrightson's seeds fair to minorities
Friday, 12 October 2018, 2:25 pm | BusinessDesk
Oct. 12 (BusinessDesk) - Danish cooperative DLF Seeds' $434 million cash and debt bid to buy PGG Wrightson's seeds unit is fair to minority shareholders, independent advisor KordaMentha says. More >>
NZ manufacturing PMI eases in September, still expanding
Friday, 12 October 2018, 2:24 pm | BusinessDesk
Oct. 12 (BusinessDesk) - New Zealand's manufacturing activity was still expanding in September although a dip in production and new orders may signal tougher times ahead. More >>
Exploration ban a risk to power security - Genesis
Friday, 12 October 2018, 2:23 pm | BusinessDesk
Oct. 12 (BusinessDesk) - The government’s proposed ban on new offshore exploration will create uncertainty over long-term gas supplies and risks delaying the shift away from coal in electricity generation, Genesis Energy says. More >>
Package of assistance needed for vulnerable power consumers
Friday, 12 October 2018, 12:32 pm | BusinessDesk
Oct. 12 (BusinessDesk) - Measures to help vulnerable consumers meet their energy costs need to be targeted as part of broader government support mechanisms, the Major Electricity Users’ Group says. More >>
NZ dollar gains as US inflation misses expectations
Friday, 12 October 2018, 11:39 am | BusinessDesk
Oct. 12 (BusinessDesk) - The New Zealand dollar gained as weaker than expected US inflation prompted traders to reassess their expectations for faster interest rate hikes there. More >>
PGG Wrightson expects FY19 operating earnings to match
Thursday, 11 October 2018, 8:58 pm | BusinessDesk
Oct. 11 (BusinessDesk) - PGG Wrightson expects full-year operating earnings to be on par with last year's record, including earnings from the seed and grain business that it is selling to Danish cooperative DLF Seeds More >>
MARKET CLOSE: Shares drop to 4-month low following Wall St
Thursday, 11 October 2018, 8:48 pm | BusinessDesk
MARKET CLOSE: NZ shares drop to 4-month low following Wall St rout; A2 slumps 11% More >>
NZ dollar steady against greenback
Thursday, 11 October 2018, 8:27 pm | BusinessDesk
Oct. 11 (BusinessDesk) - The New Zealand dollar was largely unchanged against the US dollar, holding its ground despite Asian share markets tumbling after Wall Street took an overnight nosedive as investors fretted about rising US yields. More >>
ACC to repay $100M plus interest after overcharging
Thursday, 11 October 2018, 5:22 pm | BusinessDesk
Oct. 11 (BusinessDesk) - Accident Compensation Corp will refund more than 300,000 business customers $100 million plus accrued interest after overcharging them for 15 years. More >>
Jenny Shipley starts evidence in High Court in Mainzeal case
Thursday, 11 October 2018, 4:45 pm | BusinessDesk
Oct. 11 (BusinessDesk) - Former Prime Minister Jenny Shipley has taken the stand in the high-profile case against directors of failed property company Mainzeal. More >>
NZX50 drops 2.7% as Wall St rout knocks local growth stocks
Thursday, 11 October 2018, 4:44 pm | BusinessDesk
NZX50 drops 2.7% as Wall St rout knocks local growth stocks By Paul McBeth More >>
Whineray worried market volatility will spook government
Thursday, 11 October 2018, 3:57 pm | BusinessDesk
Oct. 11 (BusinessDesk) - New Zealand Superannuation Fund chief executive Matt Whineray is more concerned the government will lose its nerve as financial markets get choppier than he is about any short-term losses. More >>
NZ food prices ease as lettuce prices plunge
Thursday, 11 October 2018, 2:17 pm | BusinessDesk
Oct. 11 (BusinessDesk) - New Zealand food prices eased in September, led by cheaper fruit and vegetables, including a 45 percent fall in lettuce prices. More >>
NZ house prices rise to new record on dwindling supply
Thursday, 11 October 2018, 1:03 pm | BusinessDesk
Oct. 11 (BusinessDesk) - New Zealand house prices rose to a record in September as a lack of listings led to fewer sales in the month and longer closing periods, the Real Estate Institute says. More >>
Chorus completes record fibre connections
Thursday, 11 October 2018, 12:54 pm | BusinessDesk
Oct. 11 (BusinessDesk) - Record new connections in the September quarter saw fibre overtake copper ADSL as Chorus's biggest connection-type. More >>
MARKET CLOSE: NZ shares fall for 8th day
Wednesday, 10 October 2018, 9:06 pm | BusinessDesk
Oct. 10 (BusinessDesk) - New Zealand shares fell for an eighth day as investors remain uncertain about the global economic outlook. Fonterra Shareholders' Fund fell on the milk processor's lower forecast payout to farmers. More >>
NZ dollar benefits from weaker USD, supportive domestic data
Wednesday, 10 October 2018, 9:05 pm | BusinessDesk
Oct. 10 (BusinessDesk) - The New Zealand dollar gained as the greenback continued to ease in Asia and as investors were cheered by positive domestic data. More >>
