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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 189]
Infratil, Mercury partner for $208M Tilt takeover
Wednesday, 15 August 2018, 2:24 pm | BusinessDesk
Aug. 15 (BusinessDesk) - Mercury NZ has partnered with Infratil in a $208.5 million offer for the shares in Tilt Renewables they don’t already own. More >>
Heartland sees more earnings growth in 2019
Wednesday, 15 August 2018, 1:19 pm | BusinessDesk
Aug. 15 (BusinessDesk) - Heartland Bank is eyeing up acquisitions to maintain double-digit earnings growth in 2019 after its reverse mortgage business underpinned an 11 percent gain in annual profit. More >>
NZX 1H earnings fall; special dividend declared
Wednesday, 15 August 2018, 1:12 pm | BusinessDesk
Aug. 15 (BusinessDesk) - NZX first-half earnings fell as it lifted spending as part of a plan to position itself for future growth. It will return cash from the sale of non-core assets to shareholders as a special dividend. More >>
NZ house sales flat in July as Auckland market settles
Wednesday, 15 August 2018, 1:01 pm | BusinessDesk
Aug. 15 (BusinessDesk) - New Zealand house sales were largely flat in July as activity in the dominant Auckland market settled down in what's typically the quietest winter month. More >>
Continuous disclosure doesn't extend to voluntary admins
Wednesday, 15 August 2018, 12:59 pm | BusinessDesk
Aug. 15 (BusinessDesk) - The High Court has ruled listed firms in voluntary administration don't need to meet NZX's continuous disclosure obligations designed to protect the integrity of trading. More >>
NZ dollar dips as investor fears over Turkish economy ease
Wednesday, 15 August 2018, 12:00 pm | BusinessDesk
Aug. 15 (BusinessDesk) - The New Zealand dollar fell as fears over Turkey's financial woes eased after the nation's finance minister said his government will protect its currency which has been in freefall for the past week. More >>
Fonterra CEO Spierings goes early after milk price trimmed
Wednesday, 15 August 2018, 11:50 am | BusinessDesk
Aug. 15 (BusinessDesk) - Fonterra Cooperative Group chief executive Theo Spierings is leaving the role early after the world's biggest dairy exporter lowered its farmgate payout and trimmed its dividend to retain cash. More >>
Bar high for NZ rate cut - economists
Wednesday, 15 August 2018, 9:58 am | BusinessDesk
Aug. 15 (BusinessDesk) - Economists agree the risk of a New Zealand rate cut is real but most don’t actually expect it to happen. More >>
MARKET CLOSE: NZ shares bounce back from Turkish sell-down
Tuesday, 14 August 2018, 8:44 pm | BusinessDesk
MARKET CLOSE: NZ shares bounce back from Turkish sell-down, Summerset falls on mixed result More >>
NZ dollar pares losses as bargain hunters move in
Tuesday, 14 August 2018, 8:43 pm | BusinessDesk
Aug. 14 (BusinessDesk) - The New Zealand dollar pared some of its recent losses against the greenback as bargain hunters moved in despite weak data from Australia and China that would normally have weighed on the kiwi. More >>
Govt moves to shut GST loophole on charities' asset sales
Tuesday, 14 August 2018, 8:42 pm | BusinessDesk
Aug. 14 (BusinessDesk) - The government is moving to close a GST loophole that could have created a “significant but unquantified” risk to the Crown’s revenue. More >>
NZ Steel undercut by dumped Malaysian product
Tuesday, 14 August 2018, 6:18 pm | BusinessDesk
Aug. 14 (BusinessDesk) - BlueScope Steel-owned NZ Steel is being undercut by Malaysian products dumped in the local market, says the Ministry of Business, Innovation and Employment. More >>
Poorest performing iwi invested in large farms
Tuesday, 14 August 2018, 6:11 pm | BusinessDesk
Aug. 14 (BusinessDesk) - The poorest performing iwi investment in recent years has come from farming, which is often favoured for cultural rather than economic considerations, according to the latest annual ‘Iwi Investment Insights’ report by ANZ Bank New ... More >>
Trustpower extends customer book with Opunake
Tuesday, 14 August 2018, 4:47 pm | BusinessDesk
Aug. 14 (BusinessDesk) - Trustpower is to acquire about 1,400 commercial power accounts after Opunake Hydro opted to quit the retail market citing tough competition. More >>
Fonterra's biggest challenge is to change law
Tuesday, 14 August 2018, 2:44 pm | BusinessDesk
Aug. 14 (BusinessDesk) - Fonterra Cooperative Group's new chair John Monaghan says the dairy giant's biggest challenge is to change the law which forces it to accept milk from any farmer and sell it to rivals at a subsidised price, according to a ... More >>
Carolyn Tremain confirmed as MBIE chief executive
Tuesday, 14 August 2018, 2:42 pm | BusinessDesk
Aug. 14 (BusinessDesk) - The acting chief executive for the Ministry of Business, Innovation and Employment, Carolyn Tremain, has been confirmed as the permanent replacement for David Smol, who left the position more than a year ago. More >>
Rubicon's long-serving duo executive to depart
Tuesday, 14 August 2018, 2:30 pm | BusinessDesk
Aug. 14 (BusinessDesk) - Rubicon's founding executive duo Luke Moriarty and Mark Taylor will leave the forestry biotech investment firm following a recent boardroom shake-up. More >>
Summerset notes flattening property market as earnings rise
Tuesday, 14 August 2018, 1:21 pm | BusinessDesk
Aug. 14 (BusinessDesk) - Summerset Group Holdings said a flatter property market is providing smaller valuation gains for the retirement village operator and developer. More >>
Wrightson posts record earnings
Tuesday, 14 August 2018, 12:53 pm | BusinessDesk
Aug. 14 (BusinessDesk) - PGG Wrightson, which is selling its dominant seed and grain business, posted record full-year earnings but lowered its final dividend payment to shareholders, saying it was eyeing reinvestment opportunities. More >>
Spark acquires Premier League rights; names new exec
Tuesday, 14 August 2018, 12:38 pm | BusinessDesk
Aug. 14 (BusinessDesk) - Spark New Zealand has secured exclusive rights to Premier League football in the UK as it builds out a suite of content for the live-streaming sports service it plans to roll out early next year. More >>
