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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 190]
NZ dollar holds near 2 1/2 year low
Tuesday, 14 August 2018, 11:38 am | BusinessDesk
Aug. 14 (BusinessDesk) - The New Zealand dollar held near a two-and-a-half year low as investors remained nervous about Turkey's financial crisis, which has weighed on other emerging markets but has yet to spread to Europe's banking system. More >>
Use more private funds for infrastructure
Tuesday, 14 August 2018, 9:55 am | BusinessDesk
Aug. 14 (BusinessDesk) - New Zealand risks falling further behind in its infrastructure development unless it can adopt new tools for funding development and better prioritise the work needed, Chapman Tripp says. More >>
UPDATE: Govt hints at higher carbon price cap
Monday, 13 August 2018, 8:56 pm | BusinessDesk
Aug. 13 (BusinessDesk) - The government is hinting it will lift the $25 a tonne upper limit on the price of a New Zealand Unit of carbon dioxide in the Emissions Trading Scheme, in an announcement following hard on a doubling of funding for government ... More >>
MARKET CLOSE: NZ shares fall as Turkey woes ripple through
Monday, 13 August 2018, 8:54 pm | BusinessDesk
MARKET CLOSE: NZ shares fall as Turkey woes ripple through markets; blue chips include F&P, Fletcher drop More >>
Exporter demand halts NZ dollar's slide
Monday, 13 August 2018, 8:20 pm | BusinessDesk
Aug. 13 (BusinessDesk) - The New Zealand dollar was largely unchanged in local trading as exporters piled into the currency at a two-year low, offsetting the downbeat tone sparked by Turkey's economic woes. More >>
Economists see more pain in store for the New Zealand dollar
Monday, 13 August 2018, 7:27 pm | BusinessDesk
Aug. 13 (BusinessDesk) - The New Zealand dollar was roiled by the Reserve Bank’s surprisingly dovish stance last week and economists say there is more downside to come as US interests rates rise and the global trade outlook remains uncertain. More >>
Scales sells bulk liquid storage unit for $20M
Monday, 13 August 2018, 7:25 pm | BusinessDesk
Aug. 13 (BusinessDesk) - Scales Corp will sell its bulk liquid storage unit to Taranaki's SBT Group for $20 million as the agriculture group builds up a war chest to seek out new acquisitions. More >>
Govt doubles funding for tree-planting
Monday, 13 August 2018, 7:24 pm | BusinessDesk
Aug. 13 (BusinessDesk) - The government is doubling to nearly $500 million the funding for forestry planting from its Provincial Growth Fund, meaning one-sixth of the $3 billion, three-year fund will be spent on trees. More >>
Contact to improve access to prompt-payment discounts
Monday, 13 August 2018, 5:17 pm | BusinessDesk
Aug. 13 (BusinessDesk) - New products being developed by Contact Energy will improve benefits to customers and make it harder for them to miss out on prompt-payment discounts, chief executive Dennis Barnes says. More >>
NZ steel operations deliver strongest earnings lift
Monday, 13 August 2018, 4:04 pm | BusinessDesk
Aug. 13 (BusinessDesk) - BlueScope Steel's two Kiwi businesses, New Zealand Steel and Pacific Steel, delivered an 84 percent lift in underlying earnings in the year to June 30, outstripping strong gains across the rest of the multi-national Sydney-based ... More >>
JB Hi-Fi expects another year of shrinking NZ sales
Monday, 13 August 2018, 3:29 pm | BusinessDesk
Aug. 13 (BusinessDesk) - JB Hi-Fi expects to see another year of declining revenues on this side of the Tasman as the ASX-listed discount consumer electronics retailer attempts to drive profitability in its New Zealand unit. More >>
Forsyth Barr cuts future dividend forecast for Fonterra
Monday, 13 August 2018, 3:05 pm | BusinessDesk
Aug. 13 (BusinessDesk) - Forsyth Barr has cut its dividend expectations for Fonterra Cooperative Group for the next two years after the dairy giant last week abandoned plans to pay a final dividend for the 2018 financial year, citing weaker margins ... More >>
NZ food prices rise in July
Monday, 13 August 2018, 2:27 pm | BusinessDesk
Aug. 13 (BusinessDesk) - New Zealand's food prices rose in July, once again led by higher prices for takeout and restaurant meals and echoing strong activity in the hospitality sector in a separate indicator of services. More >>
NZ services sector activity perks up in July
Monday, 13 August 2018, 2:20 pm | BusinessDesk
Aug. 13 (BusinessDesk) - New Zealand's services sector activity picked up in July as strong tourism numbers continued to underpin the wider economy, allaying fears about the impact of slowing manufacturing. More >>
Freightways cautiously optimistic about coming year
Monday, 13 August 2018, 1:49 pm | BusinessDesk
Aug. 13 (BusinessDesk) - Courier and information management company Freightways lifted annual profit and is targeting further earnings growth in the current financial year despite an "apparent" decline in national business confidence. More >>
Contact tightens focus on commercial, industrial market
Monday, 13 August 2018, 1:08 pm | BusinessDesk
Aug. 13 (BusinessDesk) - Contact Energy has restructured its retail operations to tie commercial and industrial sales closer to its generation activities. More >>
Fletcher starts sale process for Formica
Monday, 13 August 2018, 12:54 pm | BusinessDesk
Aug. 13 (BusinessDesk) - The sales process for Fletcher Building's Formica unit is about to get underway, and is most likely to attract the interest of private equity buyers, the Australian newspaper reported. More >>
Z Energy considers six-year bond offer
Monday, 13 August 2018, 12:39 pm | BusinessDesk
Aug. 13 (BusinessDesk) - Z Energy is considering a six-year, unsubordinated, secured, fixed rate bond offer just as $150 million of existing notes are due to be repaid. More >>
Contact earnings fall 13% on tough wholesale conditions
Monday, 13 August 2018, 11:53 am | BusinessDesk
Aug. 13 (BusinessDesk) - Contact Energy, the country’s second-largest gas and power retailer, says full-year profit fell 13 percent as low hydro storage increased its energy costs and tough competition kept pressure on retail margins. More >>
Turkish economic crisis sends markets into a tailspin
Monday, 13 August 2018, 11:48 am | BusinessDesk
NZ dollar sinks below 66 US cts as Turkish economic crisis sends markets into a tailspin More >>
