Scoop has an Ethical Paywall
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 20]
Metlifecare eschews a share buyback for investing in growth
Tuesday, 27 August 2019, 11:00 am | BusinessDesk
Aug. 27 (BusinessDesk) - Metlifecare has ruled out trying to see whether a share buyback would help narrow the deep discount to net tangible assets because it believes it can add more value using available funds to keep developing its retirement village ... More >>
MARKET CLOSE: NZ shares join global sell-off on Trump tweets
Monday, 26 August 2019, 8:55 pm | BusinessDesk
MARKET CLOSE: NZ shares join global sell-off on Trump's trade tweets; Freightways caution weighs More >>
Govt clamps down on web service providers after data breach
Monday, 26 August 2019, 8:30 pm | BusinessDesk
Aug. 26 (BusinessDesk) - A swathe of government departments have been ordered not to use web and information communications technology service providers not on an approved list following disclosure of a major data privacy breach over the weekend. More >>
NZ dollar rebounds in absence of feared yuan devaluation
Monday, 26 August 2019, 8:29 pm | BusinessDesk
Aug. 26 (BusinessDesk) - The New Zealand dollar rebounded from its lowest level against the greenback since 2015 after the People’s Bank of China didn't severely devalue the yuan, as many had feared, in retaliation to US President Donald Trump escalating ... More >>
Balanced consenting framework needed for renewables
Monday, 26 August 2019, 7:30 pm | BusinessDesk
Aug. 26 (BusinessDesk) - New Zealand requires a “significant uplift” in renewable generation investment if the country is to get anywhere close to its 2050 net-zero carbon target, Meridian Energy says. More >>
Lumpy imports drive bigger July trade deficit than expected
Monday, 26 August 2019, 7:28 pm | BusinessDesk
Aug. 26 (BusinessDesk) - New Zealand posted a much wider trade deficit than expected of $685 million in July but economists aren't fazed, saying it was skewed by lumpy imports. More >>
Freightways' net profit rises despite NZ slowdown
Monday, 26 August 2019, 3:13 pm | BusinessDesk
Aug. 26 (BusinessDesk) - Freightways reported a lift in earnings as it raises prices and seeks to increase its efficiency against the backdrop of a slowing economy. It is targeting year-on-year earnings growth in the current financial year. More >>
National floats company tax cut, wants higher pension age
Monday, 26 August 2019, 2:09 pm | BusinessDesk
Aug. 26 (BusinessDesk) - The National Party is floating a cut to New Zealand's 28 percent company tax rate among a suite of possible tax changes it would promise going into the 2020 election. More >>
Metlifecare lifts underlying annual net profit 4%
Monday, 26 August 2019, 1:28 pm | BusinessDesk
Metlifecare’s annual net profit fell 68 percent because of smaller gains in the fair value of its retirement villages but underlying profit was up 4 percent and underlying operating cash flow rose 2 percent. More >>
Chorus CEO McKenzie to leave this year
Monday, 26 August 2019, 12:37 pm | BusinessDesk
Aug. 26 (BusinessDesk) - Chorus chief executive Kate McKenzie will leave the telecommunications lines company at the end of 2019, having overseen the completion of the ultrafast broadband fibre network's first tranche. More >>
Supreme Court to hold oral hearing on Synlait's appeal
Monday, 26 August 2019, 12:12 pm | BusinessDesk
Aug. 26 (BusinessDesk) - The Supreme Court has advised there will be an oral hearing prior to a decision on whether it grants Synlait Milk's bid to a appeal the reinstatement of land covenants on its Pokeno site. More >>
Meridian posts record profit on high production, prices
Monday, 26 August 2019, 12:10 pm | BusinessDesk
Aug. 26 (BusinessDesk) - Meridian Energy reported record full-year earnings, boosted by higher power prices and generation volumes and a growing customer book in Australia. More >>
Intuit on track to overtake Xero outside the US
Monday, 26 August 2019, 12:09 pm | BusinessDesk
Aug. 26 (BusinessDesk) - United States-based Intuit increased its subscribers in the US at a steady pace in its fourth quarter but increased momentum in gains outside the US, suggesting it may soon overtake Xero as market leader. More >>
Fasten seatbelts for the Trump twitter-storm fallout
Monday, 26 August 2019, 11:52 am | BusinessDesk
Aug. 26 (BusinessDesk) - It will be a case of fasten your seat belts and expect turbulence as markets across Asia open today after the escalation of the US-China trade war, US President Donald Trump's tweets labelling his own Federal Reserve chair Jerome ... More >>
Analysts pan Fletcher results, one comparing it to Fonterra
Monday, 26 August 2019, 11:44 am | BusinessDesk
Aug. 26 (BusinessDesk) - Fletcher Building managing director Ross Taylor’s hopes that the market will recognise his achievements to date have been dashed. More >>
Lower yield and marketing efforts to flatline profits
Monday, 26 August 2019, 11:03 am | BusinessDesk
Aug. 26 (BusinessDesk) - A lower yielding vintage and a yet-to-be deployed marketing effort will hamper profit growth for Delegat Group next financial year despite an expected boost in wine sales. More >>
NZ dollar down on US-China trade jitters
Monday, 26 August 2019, 10:58 am | BusinessDesk
Aug. 26 (BusinessDesk) - The New Zealand dollar fell on renewed concerns about US-China trade tensions as both sides announced further tariffs. More >>
MARKET CLOSE: NZ shares fall as rate outlook weighs
Friday, 23 August 2019, 8:55 pm | BusinessDesk
Aug. 23 (BusinessDesk) - New Zealand shares fell as diminishing expectations for interest rates to go lower sapped the appeal of companies held for their dividends such as Meridian Energy and Chorus. Skellerup led the index lower after reporting ... More >>
NZ dollar rises after Orr talks up the economy
Friday, 23 August 2019, 8:17 pm | BusinessDesk
Aug. 23 (BusinessDesk) - The New Zealand dollar rose after Reserve Bank governor Adrian Orr painted a rosy picture of the local economy and described the 50 basis point cut in the official cash rate earlier this month as “a pre-emptive double ... More >>
UPDATE: WEL reviewing capital structure of fibre business
Friday, 23 August 2019, 7:48 pm | BusinessDesk
Aug. 23 (BusinessDesk) - Aug. 23 (BusinessDesk) - WEL Networks is reviewing the capital structure of its Ultrafast Fibre subsidiary. More >>
