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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 166]
Pohokura production cut for second time this year
Friday, 28 September 2018, 8:06 pm | BusinessDesk
Sept. 28 (BusinessDesk) - Shell says it is too soon to say when it will restore full production from the Pohokura gas field. More >>
Eastland begins commissioning Te Ahi O Maui geothermal plant
Friday, 28 September 2018, 6:57 pm | BusinessDesk
Sept. 28 (BusinessDesk) - Eastland Group today began commissioning the firm’s 25 megawatt Te Ahi O Maui geothermal power plant at Kawerau. More >>
Infratil raises forecast on Longroad performance
Friday, 28 September 2018, 5:57 pm | BusinessDesk
Sept. 28 (BusinessDesk) - Infratil has raised its full-year earnings guidance on the performance of its Longroad Energy business in the US. More >>
Vector advocates solar for low-income homes
Friday, 28 September 2018, 5:26 pm | BusinessDesk
Sept. 28 (BusinessDesk) - Tariff changes are unlikely to assist low-income households with energy costs when their usage is structurally higher than that of other users and is also declining more slowly, Vector chief executive Simon Mackenzie says. More >>
Australian drought dents supply of luxury fibre
Friday, 28 September 2018, 3:57 pm | BusinessDesk
Sept. 28 (BusinessDesk) - New Zealand merino wool prices are being pushed up as drought in Australia prompt farmers across the Tasman to cull stock, reducing the amount of the fine premium wool available for sale. More >>
Investors see more Xero growth
Friday, 28 September 2018, 3:55 pm | BusinessDesk
Sept. 28 (BusinessDesk) - Investors still see upside in Xero's growth story in oversubscribing to a US$300 million convertible note offer that would see them pay a 70 percent premium to turn those securities into shares. More >>
NZ Super Fund beats expectations with 12.4% annual return
Friday, 28 September 2018, 2:55 pm | BusinessDesk
Sept. 28 (BusinessDesk) - The New Zealand Superannuation Fund delivered a better-than-expected return in the year to June and is looking to take advantage of investment opportunities against a backdrop of rising global geopolitical and financial volatility. More >>
Hallenstein Glasson annual profit jumps 58%; shares gain
Friday, 28 September 2018, 2:47 pm | BusinessDesk
Sept. 28 (BusinessDesk) - Hallenstein Glasson Holdings confirmed annual profit rose 58 percent as expected, and said sales at Glassons and Hallenstein Brothers clothing chains lifted 7.2 percent in the first eight weeks of this financial year as the ... More >>
Building consents buoyed by strong Auckland market
Friday, 28 September 2018, 2:45 pm | BusinessDesk
Sept. 28 (BusinessDesk) - New Zealand residential building consents snapped two months of declines in August as growing intentions in Auckland buoyed the national market. More >>
NZ consumer confidence treads water as outlook perks up
Friday, 28 September 2018, 1:46 pm | BusinessDesk
Sept. 28 (BusinessDesk) - New Zealand consumers were still in reasonable heart this month as concerns about the economic outlook subsided. More >>
Torchlight investors abused process in wind-up attempt
Friday, 28 September 2018, 12:11 pm | BusinessDesk
Sept. 28 (BusinessDesk) - The Cayman Islands Grand Court has found investors in the Torchlight fund abused the process in trying to wind up the distressed asset vehicle linked to Pyne Gould Corp. More >>
Fed rate hike, Italian debt debate boost greenback
Friday, 28 September 2018, 11:17 am | BusinessDesk
Sept. 28 (BusinessDesk) - The New Zealand dollar fell against a stronger greenback as higher US interest rates and an upcoming debate on Italy's fiscal health buoyed the world's reserve currency. More >>
MARKET CLOSE: NZ shares fall as A2 extends decline
Thursday, 27 September 2018, 8:48 pm | BusinessDesk
Sept. 27 (BusinessDesk) - New Zealand shares fell as A2 Milk Co extended its decline since its chief executive sold down her holding. Rising bond yields also dimmed the lustre of property stocks. More >>
NZ dollar tad weaker after Fed hikes, RBNZ stands pat
Thursday, 27 September 2018, 8:24 pm | BusinessDesk
Sept. 27 (BusinessDesk) - The New Zealand dollar is weaker after the US Federal Reserve lifted interest rates and the Reserve Bank of New Zealand kept them on hold, further widening the rate differential between the two countries. More >>
ACC plans levy increases to meet rising costs
Thursday, 27 September 2018, 7:42 pm | BusinessDesk
Sept. 27 (BusinessDesk) - The Accident Compensation Corp is looking to increase some levies to meet higher costs as lower interest rates crimp its investment income. More >>
King Salmon braced for ‘disappointing’ fish farm relocation
Thursday, 27 September 2018, 7:41 pm | BusinessDesk
Sept. 27 (BusinessDesk) - New Zealand King Salmon hopes it will be allowed to move around half of nine square hectares of its Marlborough Sounds fish farms to better locations, but is braced for a “disappointing” outcome for both the company’s ... More >>
Greymouth to challenge exploration ban in court
Thursday, 27 September 2018, 7:39 pm | BusinessDesk
Sept. 27 (BusinessDesk) - Greymouth Petroleum, the second-largest New Zealand-based oil and gas producer, has started court action challenging the government’s plan to ban the offering of new offshore exploration permits. More >>
Stats NZ seeks public views on new law
Thursday, 27 September 2018, 4:18 pm | BusinessDesk
Stats NZ seeks public views on new law enabling wider collection of data By Tina Morrison More >>
UPDATE: NZ dollar gets a lift after RBNZ tad more upbeat
Thursday, 27 September 2018, 2:31 pm | BusinessDesk
Sept. 27 (BusinessDesk) - The New Zealand dollar lifted after central bank Governor Adrian Orr kept rates on hold and was slightly more upbeat without taking a possible rate cut off the table. More >>
NZ export log market hurt by US trade war with China
Thursday, 27 September 2018, 2:09 pm | BusinessDesk
Sept. 27 (BusinessDesk) - New Zealand's export log market took a hit from the trade dispute between the US and China as the declining value of the yuan crimps the buying power of the country's largest log market. More >>
