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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 193]
Higher income protection claims as earnings fall
Wednesday, 8 August 2018, 2:15 pm | BusinessDesk
Aug. 8 (BusinessDesk) - AMP's New Zealand financial services division noted an increase in income protection claims in the first six months of 2018 and a growing number of policy lapses, which weighed on earnings in the period. More >>
SkyCity beats annual earnings forecast
Wednesday, 8 August 2018, 1:05 pm | BusinessDesk
Aug. 8 (BusinessDesk) - SkyCity Entertainment Group increased full-year earnings more than forecast as its high-roller business recovered and its flagship Auckland casino improved. It expects "modest growth" in earnings in the current financial ... More >>
PFI says strong portfolio activity drives higher revenue
Wednesday, 8 August 2018, 1:00 pm | BusinessDesk
Aug. 8 (BusinessDesk) - Property For Industry lifted its dividend as strong portfolio activity drove higher revenue. Net profit jumped but largely due to a one-off in the prior period. More >>
NZX to exclude off-market deals from minimum threshold
Wednesday, 8 August 2018, 12:53 pm | BusinessDesk
Aug. 8 (BusinessDesk) - NZX won't force off-market transactions to meet a new minimum crossing threshold as long as they improve price transparency and will go ahead with a new pricing structure from October. More >>
CBL watershed meeting pushed out to November
Wednesday, 8 August 2018, 12:48 pm | BusinessDesk
Aug. 8 (BusinessDesk) - CBL Corp's creditors will have to wait until November to hear again from the company's voluntary administrators after they were granted a further extension for the watershed meetings by the High Court. More >>
Steel & Tube attracts 'several new large investors'
Wednesday, 8 August 2018, 12:46 pm | BusinessDesk
Aug. 8 (BusinessDesk) - Steel & Tube Holdings attracted several new investors in the first tranche of a deeply discounted $80.9 million capital raise, which it will use to shore up its balance sheet in a wider restructuring of the steel building ... More >>
Serko raises $15M in over-subscribed placement
Wednesday, 8 August 2018, 12:03 pm | BusinessDesk
Aug. 8 (BusinessDesk) - Serko shares will resume trading today after a $15 million placement was over-subscribed, raising funds for the online travel booking app developer to accelerate its global growth plans. More >>
NZ dollar falls vs Aussie
Wednesday, 8 August 2018, 11:38 am | BusinessDesk
Aug. 8 (BusinessDesk) - The New Zealand dollar fell against its Australian counterpart as reports the People's Bank of China was alert to the risks facing its currency stoked risk appetite among investors, although that didn't spill over to the local ... More >>
Dairy product prices steady
Wednesday, 8 August 2018, 11:01 am | BusinessDesk
Aug. 8 (BusinessDesk) - Dairy product prices were steady at the Global Dairy Trade auction as a rally in rennet casein offset a drop in butter milk powder. More >>
MARKET CLOSE: NZ shares fall as Pushpay, Fletcher drop
Tuesday, 7 August 2018, 8:50 pm | BusinessDesk
Aug. 7 (BusinessDesk) - New Zealand shares fell, led lower by ongoing weakness in Pushpay Holdings and as construction sector fears weigh on Fletcher Building, while Summerset Group Holdings gained. More >>
NZ dollar dips vs Aussie after RBA more upbeat
Tuesday, 7 August 2018, 8:17 pm | BusinessDesk
Aug. 7 (BusinessDesk) - The New Zealand dollar dipped against its trans-Tasman counterpart after the Reserve Bank of Australia kept interest rates on hold and was more upbeat on the economy than expected. More >>
Nurses' pay deal adds to pressure in retirement sector
Tuesday, 7 August 2018, 6:17 pm | BusinessDesk
Aug. 7 (BusinessDesk) - The settlement between hospital nurses and their district health board employers - coupled with current immigration settings - adds to growing pressure in the retirement sector and if steps aren't taken people may eventually ... More >>
$3.9 million of co-funding for 19 innovated EV projects
Tuesday, 7 August 2018, 3:24 pm | BusinessDesk
Aug. 7 (BusinessDesk) - The government is pumping another $3.9 million of co-funding into 19 projects that range from improving the range of electric camper vans to building a series of charging stations as part of its goal to get 64,000 electric vehicles ... More >>
Nurses vote in favor of latest government offer
Tuesday, 7 August 2018, 2:09 pm | BusinessDesk
Aug. 7 (BusinessDesk) - Nurses have voted in favor of the latest pay offer from the government, staving off further strike action and bring nearly a year of negotiations to an end. More >>
Summerset Group buys land for second New Plymouth village
Tuesday, 7 August 2018, 1:25 pm | BusinessDesk
Aug. 7 (BusinessDesk) - Summerset Group has purchased land to develop its second New Plymouth retirement village as it remains on track to build 450 retirements units across its New Zealand villages this year. More >>
NZX to wear $800k charge on sale of agri businesses to Globa
Tuesday, 7 August 2018, 1:21 pm | BusinessDesk
Aug. 7 (BusinessDesk) - NZX will recognise an $800,000 charge on the sale of its remaining agri businesses to GlobalHQ, which recently bought the Farmers Weekly publication from the stock market operator. More >>
Serko to raise $15M at 3.2% discount to accelerate growth
Tuesday, 7 August 2018, 12:53 pm | BusinessDesk
Aug. 7 (BusinessDesk) - Serko plans to raise $15 million selling shares at a 3.2 percent discount to institutional investors to speed up its growth trajectory having already raised revenue guidance. More >>
Jenny Shipley to step down as Genesis chair in October
Tuesday, 7 August 2018, 12:47 pm | BusinessDesk
Aug. 7 (BusinessDesk) - Former Prime Minister Jenny Shipley will step down as Genesis Energy chair after this year's annual meeting in October, and be succeeded by ex-ASB Bank chief executive Barbara Chapman. More >>
Steel & Tube to sell $80.9M of shares to repay debt
Tuesday, 7 August 2018, 12:45 pm | BusinessDesk
Aug. 7 (BusinessDesk) - Steel & Tube Holdings, the steel supplier whose shares have lost almost a third of their value this year, plans to raise about $80.9 million to repay debt and strengthen its balance sheet as it restructures its business under ... More >>
NZ dollar barely budges ahead of RBA policy review
Tuesday, 7 August 2018, 11:48 am | BusinessDesk
Aug. 7 (BusinessDesk) - The New Zealand dollar barely moved as investors prepare for central bank meetings on both sides of the Tasman, with little action on the trade war front overnight. More >>
